Waves Secures $120 Million for Private Blockchain Development

[PRIBO247]

Blockchain solutions developer Waves
Platform has secured $120 million in a
recent funding round and will use the
capital to launch its private blockchain
platform and system integrator called
Vostok.

The funding round was led by Dolfin, a
London-based financial services group,
and many private investors also took
part in it.
Waves started developing Vostok earlier
this year and with the newly secured
fundings, the company is aiming for a
launch as soon as in early 2019.
However, the company is targeting only
European and Asian markets with the
initial launch.

“The Vostok project lies at the
intersection of several disruptive
technologies, including Blockchain, Big
Data, Artificial Intelligence and the
Industrial Internet of Things. By
implementing these in the IT
infrastructures of corporations and
government agencies, we lay the
foundation for the digital economy,” said
Sasha Ivanov, founder and CEO of
Waves Platform and the Vostok project.
“This is logic continuation of the work
we have been doing over the past few
years, advancing the Waves platform’s
technological achievements yet further.”
Amid this news, the value of Waves
token zoomed more than 50 percent in
the past 24 hours and is now trading at
$4.25. With this sudden surge in
demand, the market cap of the coin is
now a little shy from $425 million.

Alternative to Ethereum?
Waves emerged as an alternative to the
smart-contract leader Ethereum and
claimed to be a much efficient platform.
Though the platform is much faster than
Bitcoin and Ethereum processing a 6.1
million transaction in a day at its peak,
in terms of adaptability, it is way behind
Ethereum.

Now with Vostok, the company is taking
a whole new turn in its business. The
investors are also very optimistic with
Sasha and his team’s goal with Vostok.
Dolfin’s CEO, Denis Nagy, said: “London
is becoming an increasingly important
destination globally for DLT and other
disruptive technology projects. We are
proud that Waves and Vostok have
selected London as one of their
technology сentres, as well as their
trusted global hub for legal and financial
expertise.”

“Despite heightened investors’ interest
in digital technologies, attracting private
funding is often problematic due to the
lack of financial infrastructure to
support and structure the deals in the
DLT space. Together with the Vostok
team, we have developed a model
familiar to private equity investors yet
customized to enable the financing of
the Vostok blockchain project,” Nagy
added.

Ambitious Roadmap
Earlier this year, Waves launched its
own decentralized crypto exchange .
Moreover, the project has just launched
a blockchain KYC standard for token
issuers in partnership with the
Switzerland-based nonprofit
BetterTokens.

https://www.financemagnates.com/cryptocurrency/news/

[kent47400]

Talking about coin development from WAVES, namely the name VOSTOK.
I admit I just heard about VOSTOK development in Coin Waves and sure enough this is not able to develop a network from Waves because it seems that the promotion from Waaves is lacking.

[jonathancool220]

120,000,000 USD is a lot of value and I'm sure it's enough for the development of blockchain privacy.
We can imagine how much money is circulating for WAVES if you really get around 120,000,000 USD. Good Luck Waves!