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PwC Partnering Bitfury To Create Blockchain Accelerator For Russian Clients

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Professional services firm PricewaterhouseCoopers or PwC, is in deal with U.S.-based blockchain technology company BitFury to create a blockchain projects accelerator for enterprises in Russia.

The partnership will develop a number of new blockchain products for PwC's enterprise clients in Russia. This is expected to save the clients valuable time and financial costs of developing the applications individually.

Earlier, PwC has used Bitfury's open source framework Exonum to build blockchain-powered applications for educational courses and seminars for PwC Academy. PwC is currently the second largest among the Big Four professional services firms after Deloitte.

This partnership will also use the Exonum platform to develop blockchain solutions for PwC's corporate clients. It will provide fundamentally new products and solutions to companies in various industries.

Exonum is designed to allow people, companies and governments to design custom private or permissioned blockchains that benefit from the security of public blockchains.

A PwC study shows that the introduction of the blockchain technology will fundamentally change the modern economy and approaches to financial transactions. The automation of business processes using smart contracts on blockchain is expected decrease personnel and infrastructure costs.

According to PwC forecasts, by 2030, blockchain projects will generate about $3 trillion for businesses annually. The survey involved 600 managers of IT-companies from 15 countries.

The current partnership with PwC is expected to strengthen the blockchain market and open up new prospects for Bitfury.

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