Waves Platform is primarily known for their work as a blockchain solutions developer. However, a recent funding round worth $120 million is allowing them to expand, pushing towards the launch of a project called Vostok. Based on details from the official website, Vostok will be both a private blockchain platform and a system integrator.

Multiple private investors took the time to participate in the funding round, which was hosted by a financial services group in London – Dolfin. The project itself has been in development for most of the year, but the funding will allow them to launch the platform in 2019 for European and Asian markets. Presently, there is no planned launch for any other markets.

Sasha Ivanov, the founder and CEO of both the Waves Platform and the Vostok project, commented,

“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. 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.”

With the announcement of these innovations, the Waves token experienced over a 50% boost in price within the last 24 hours. As a result, it is presently trading at $4.21. When Waves was first introduced, they were available as an alternative option to Ethereum, boasting greater efficiency. They’ve proven to be much faster, but their adaptability is not up to the performance of Bitcoin and Ethereum yet. However, that may change with Vostok.

Denis Nagy, the CEO of Dolfin, commented,

“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.”

Continuing, he said,

“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.”

The decentralized crypto exchange for Waves was launched this year. They announced the new funding on Twitter, writing,

#WavesPlatform securing $120 million investment for integration of #Vostok #blockchain in enterprise and government IT-systems. First funding round gives Vostok project an approved value, second round scheduled for early 2019: https://t.co/a8ad0J4bsk$WAVES #Fintech

— Waves Platform (@wavesplatform) December 19, 2018

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