The Russian bank has entered this alliance to help broaden cooperation between large global companies in terms of developing the Ethereum platform. Furthermore, as the Alliance is actively developing the bank believes that its expertise will be of use to all of its members. The bank will be able to influence the enhancement of the platform and its growth in the corporate sector.
Other Ethereum alliance members include CME Group, Credit Suisse, DTCC, ING, JPMorgan, Santander, UBS, Accenture, Deloitte, Intel and Microsoft. High-tech start-ups and scientific and research organisations are also members of the alliance.
Ethereum is a decentralised platform that runs smart contracts, applications that run exactly as programmed, without any possibility of downtime, censorship, fraud or third-party interference. These apps run on a custom-built blockchain, enabling developers to create markets, store registries of debts or promises and move funds in accordance with instructions given long in the past without a middle man or counterparty risk.
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