Govermedia, the Alibaba of Russia, to Use Blockchain and Cryptocurrencies in Multiple Products

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There has been an explosion of blockchain startups the past few years. Blockchain and related technologies are being tested out in multiple industries, including with banks, who have started using or piloting blockchain in their systems. Technologists see blockchain as being vastly superior to the way we currently store and retrieve data, which is a primary driver of the widespread technological excitement around blockchain.

Govermedia, the Alibaba of Russia, is releasing multiple Blockchain products that can Improve the way users do their shopping and business online. Govermedia has been around since 2014  and is a publicly traded company in Germany.

According to Roland J. Bopp, the CEO and Director of Govermedia in an interview with InvestorIdeas, he believes they are well positioned to dominate the c-commerce market in Russian speaking countries because they are  the first company to offer a unique set of solutions on the blockchain. They have built a robust platform, assembled a team of experts and have a solid business strategy to get this done. Roland J. Bopp was the former CEO of Deutsche Telekom North America (The parent company of T-Mobile in the United States) before joining Govermedia.

Govermedia’s goal is to offer multiple products and services to Russian speaking customers. The number of people buying online in Russia has been rapidly expanding, going from 39 million in 2015 to 46 million in 2017. Some of the services include online advertisements, e-commerce, crowdfunding, messaging platform, corporate auctions and social media. These products will make use of blockchain to further enhance security, transparency, and accountability.

One such product is MFLY+, a messaging platform inside Govermedia’s ecosystem. MFLY+ will be used for both B2B and B2C by businesses. All communications are end-to-end encrypted, and users can sign documents with an electronic digital signature.

Additionally, users are able to send, split and transact using Bitcoins in the MFLY+ Messaging Platform, which makes it easy for businesses to pay and get paid. The app creates a Bitcoin wallet for the user to store and send Bitcoins. Users will also be able to send Bitcoins to wallets outside the messenger.

There is a pending update for users to execute blockchain based smart contracts right within the messenger. MFLY+ is currently available on both Apple App Store and Google Play Store.

Govermedia is one of the very few publicly traded companies that are deeply invested into blockchain and cryptocurrencies. While analysts are not so sure about cryptocurrencies, almost everyone agrees on the potential and advantages of blockchain. With a deep commitment to the technology, Govermedia is set to lead the industry with a wide variety of blockchain products, starting with MFLY+ Messenger.

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