July 4, 2017 / 10:09 AM / 2 months ago

Russia's VEB inks 6 bln yuan deal with China Development Bank

MOSCOW, July 4 (Reuters) - Russian state development bank VEB signed an agreement on Tuesday to attract 6 billion yuan ($882.35 million) from China Development Bank for innovations, including the development of blockchain technologies, VEB head Sergei Gorkov told reporters.

Blockchain technology provides an electronic record-keeping and transaction-processing system, which lets all parties track documentation through a secure network and requires no third-party verification. ($1 = 6.8000 Chinese yuan renminbi) (Reporting by Denis Dyomkin; Writing by Dmitry Solovyov; Editing by Katya Golubkova)

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