Bitfury seems to be planning for the future. According to Russian crypto site Forklog, Bitfury is teaming up with Plekhanov Russian University of Economics. The report from Forklog says that Bitfury will be tapping the brain pool at Plekhanov for a blockchain accelerator program, which will probably be focused on fintech innovation.
Plekhanov Russian University of Economics will be offering courses that are dedicated to, “training specialists who are able to create innovative projects using digital technologies in a short time,” in the hope that new talent can, “bring [the projects] to market amid the new industrial revolution,” according to Dmitry Ufaev, the leader of Bitfury Russia.
Bitfury is well funded, and casting a wide net. They recently raised around $80 million USD, which will help them expand operations. Even though cryptos are having a rough year, it seems like many organizations see long-term value in cryptos and blockchain technology.
Bitfury is Creating Global Partnerships
As the job market for blockchain related jobs has exploded, global universities have worked to stay relevant in a field that came out of left-field. Like any great innovation, blockchain technology was a result of innovative thinking, not the collegiate dog-and-pony show that seems to be losing relevance to the real-world in many nations.
Thankfully, there are some universities who are working to offer classes in blockchain and crypto technologies. According to a Coinbase study, almost half of the top 50 universities in the world offer at-least one blockchain or crypto class.
Bitfury is taking the lead in a changing marketplace. Places like Singapore and Hong Kong are attracting top blockchain talent at the moment, but fostering a university culture that supports blockchain development could shift the employment market over time.
Forklog reports that the new project at Plekhanov Russian University of Economics will receive direct support from Russia’s Ministry of Digital Development, Communications and Mass Media. They also might catch the attention of Russia’s central bank ad legislature, who are knee-deep in creating a ‘crypto-ruble’.
Hitting the Markets
Bitfury was successful is attracting Antoine Dresch and Annette Nazareth to their ranks over the last month. Both have extensive experience in US investment banking, with Antoine Dresch sporting a role as VP at investment powerhouse Goldman Sachs.
According to Bitfury CEO Valery Vavilov, “Antoine’s years of experience in investment banking and mergers and acquisitions will be valuable assets as BitFury continues to grow. Annette will serve in a different capacity; as a trusted advisor, she will help guide and support BitFury by offering her comprehensive knowledge on financial markets and regulation.”
Annette Nazareth has a history of working on the regulatory end of the spectrum, and held a position with the US Securities and Exchange Commission before she jumped over to Bitfury.
Bitfury commented on Ms. Nazareth, “She is an experienced financial markets regulator and recognized authority on regulatory issues. As SEC commissioner, she worked on numerous groundbreaking initiatives, including execution quality disclosure rules, implementation of equities decimal pricing, short sale reforms, corporate debt transparency rules and modernization of the national market system,” via a statement after she was hired.
Diverse Business Model
Bitfury’s business model seems to be attracting the attention of major investors. Bloomberg news reported they could be in discussions to go public, with a traditional Initial Public Offering (IPO).
If Bitfury did decide to go public with an IPO, they would be one of the first crypto/blockchain companies to use an IPO to gain access to an exchange.
A few other miners have used reverse mergers to gain access to public exchanges. Their initial results were good, but as HIVE Blockchain shares demonstrate, this year has been rough on early entrants into the sector.
Bitfury offers investors a lot of connections around the world, and could be a force in blockchain over the coming years.