Blockchain Accelerator In The Works For Russia, Thanks To PwC/BitFury Partnership

As blockchain technology attempts to find its place in the world, there are plenty of companies that are working to make it possible. A prime example is the new collaboration between PricewaterhouseCoopers (PwC) and BitFury group, which are coming together in an effort to establish a blockchain accelerator. The accelerator will be used to promote business applications in Russia, based on a press release from PwC today.

In the release, PwC explains that they’ve already been using Bitfury’s framework for blockchain application creation – Exonum – during seminars and educational forums. However, with this new accelerator project, they are hoping to meet the “current needs” of their Russian enterprise clients. Victor Nelin, who works at PwC’s Russian branch as an IT consulting manager, says that the collaboration will offer “fundamentally new” products over the next few years. These products are expected to reach onto multiple industries during that time.

PwC recently performed a study that examined the impact that blockchain technology could have on energy, saying that it has the potential to “drastically” alter how the modern economy handles the sector. As a result of automated business processes, the technology could even lower the costs associated with personnel and the current infrastructure. PwC is the second-largest among the Big Four professional services firms, raking in about $41 billion in this fiscal year. Accounting firm Deloitte precedes them.

As progressive as this blockchain accelerator project is, it isn’t the first for BitFury in Russia. In November, they initiated a project with the Plekhanov Russian University of Economics. The partnership allowed for the integration of blockchain-related courses and other educational resources.

PwC has voiced plans for their own accelerator that is in the works. It is aimed at their own employees, offering a two-year program to educate their staff on current blockchain information. The program is scheduled to launch next month and could support around 1,000 employees.

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