Innovecs to Open Blockchain R&D Center in Kyiv
Innovecs announced that the Ukraine based outsourcing company has opened a research and development center in Kyiv in order to research about blockchain technology.
Founded in 2011, Innovecs offers a range of technology outsourcing solutions. The company was founded by people with experience in outsourcing business in the United States, Europe, Russia, and Ukraine.
Innovecs engineers already have vast experience with the blockchain technology as its experts have already worked in teams such as Tether, Holy Transaction, and Ambisafe. Furthermore, the company website claims that its software engineers have specialties in Java, Python, Ruby, iOS/Android, and IP security.
Innovecs is one of the few technology outsourcing companies that embraced alternative payment and currently its clients can pay their bills through Bitcoin via BitPay. As far as the Chief Executive Officer and Co-Founder of Innovecs, Alex Lutski, the decision to accept Bitcoin was not a novelty.
He thinks that the new Research Development center would provide his company with opportunities to cooperate with corporations interested in the block chain technology.
According to the VP of Blockchain Technology FinTech at Innovecs, Michael Chobanyan, Innovecs has strong incentive to accept Bitcoin because it has client relationships with US and European companies that already utilizes blockchain technology. Hence, accepting Bitcoin was not only a business requirement, but also the most logical way to go about it.
The announcement from Innovecs came when the payment industry is increasingly attracting attention from large scale corporations as well as governments.
For instance, the United Kingdom government has allocated around £10 million of public funds this year to increase research about blockchain technology. In addition to governments, banks like Citigroup, Barclays and UBS have announced that they are also looking into applying cryptocurrencies to facilitate trade finance etc. Recently, credit card provider Visa also expressed its interest in this domain.