PwC Russia partners with Bitfury to launch accelerator for blockchain projects

Leading ‘Big Four’ consultancy firm PwC’s Russian arm is partnering with blockchain startup Bitfury Group to create an accelerator for Russian blockchain projects.

According to an official release dated December 13, the partnership will aim at developing new blockchain products to meet the current needs of PwC customers. PwC said that it has already used Exonum, a framework for blockchain solutions developed and supported by Bitfury, as part of its training courses and seminars.

Viktor Nelin, manager of IT consulting services, PwC in Russia, said that the company is confident that blockchain technology will allow creating services for internal corporate use by expanding the functionality of current products, as well as fundamentally new business models.

“With Bitfury, our efforts to develop blockchain solutions for corporate customers using the Exonum platform will provide fundamentally new products and solutions to companies in various industries,” he said (via online translation).

Commenting on the partnership with PwC, Dmitry Ufaev, head of Bitfury in Russia said:

“A partnership of such a level proves that the [blockchain] technology will develop and in the next few years large-scale blockchain solutions will be implemented in different segments of the economy and business.

“We are confident that our joint experience with PwC will strengthen the blockchain market and open up new prospects for development.”

PwC has been actively involved in the blockchain space and has been trialing the technology in various field in partnerships with other firms. This includes its participation in Alibaba’s blockchain pilot aimed at improving supply chain traceability as an adviser, partnership with ACCI and Port of Brisbane to develop a blockchain-based ‘Trade Community System’, launch of Vulcan Digital Asset Services, and others.

Earlier this year, PwC also acquired a minority stake in blockchain startup VeChain.