Waves Founder Sells Vostok to GHP Group
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17 July
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Alexander Ivanov, founder of the Waves platform, has sold his stake in the Vostok corporate blockchain project to GHP Group, according to a press release.

Ivanov says he has made this decision so that he can exclusively concentrate on the development of the Waves platform:

"The development paths of Vostok and Waves are becoming increasingly divergent. For me, the priority was and remains the international development of the Waves Platform to create the next generation of the Internet with smart, decentralized services running on the blockchain. Therefore, I have decided to sell the Vostok project and focus on the development of the Web3 ecosystem, including projects in the sphere of large business."

The developers of Waves plan to start offering already this year the possibility of creating side chains and continue developing Web3 services. Besides, the company wants to open an office in Berlin.

The chairman of GHP Group and one of Vostok's first investors, Mark Garber, has said that Vostok's existing developments will enable his company's projects to reach a new level of technological development. He has also promised the group will continue to work on the project, retaining the management team and the platform development team.

Vostok was launched in April last year as an initiative to promote digital technologies among large government and industrial infrastructures. At the end of 2018, Waves attracted around $120M for the development of its project.

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