Banks Could Be Working on Blockchain-based Digital Vault Project
With so many banks exploring the potential offered by blockchain technology. It is only a matter of time until the first projects start rolling out to the public. In a surprising turn of events, an unnamed Belgian bank might be one of the first to unveil their blockchain project. According to information provided to us by an employee, who wishes to....
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Paul Taylor, a former Google engineer and founder and CEO of UK-based Fintech startup Thought Machine, is developing a blockchain-centric operating system, Vault OS, a modern banking engine and core software that runs on the cloud. Before delving into the blockchain space, Paul Taylor held a prominent position at Google as the head of the text-to-speech group at the search giant, responsible for the speech recognition software used in over a billion Android phones and devices used around the world. A Cambridge University academic, Taylor began working on Vault OS over two years ago at a....
UK-based fintech company ThoughtMachine recently released their blockchain-based operating system specifically designed for banking known as Vault OS. As banks spend millions of dollars a year on their cybersecurity to fight against cyber attacks, blockchain technology holds the solution for this problem but as firms such as JPMorgan Chase and Citi Bank start developing their own blockchains, development tends to be costly. For two years, the ThoughtMachine’s team of 50 worked on the “100% future-proof” Vault OS in stealth which resulted in an operating system that has its own private....
I recently had a chance to sit down and speak with Pavlo Tanasyuk, the man behind SpaceBIT, the first decentralized space company. SpaceBIT is a very ambitious project being run by an accomplished team. The SpaceBIT team consists of professionals from around the globe, from myriad industries, rather than just Bitcoin professionals. They know and understand that the blockchain is the real innovation and plan on using it and building on top of it. Their first mission they are announcing is Space Vault. Space Vault is a very interesting concept: having a decentralized vault in space that....
BNP Paribas Fortis has denied it is exploring the idea of entering the bitcoin space as a digital vault provider. A spokesperson for the international Belgium-based bank - a subsidiary of BNP Paribas - told CoinDesk the company was not planning to allow its customers to store bitcoin as they would any other asset. The spokesperson added: "I will disappoint you because we do not have a project regarding the bitcoins. So, it's not true." BNP Paribas Fortis' denial comes after CoinDesk was contacted by a subscriber to the Bitcoin Brussels mailing list, who claimed to have received an email....
Four banks have reportedly partnered on a blockchain project aimed at creating a means to clear and settle transactions worldwide. BNY Mellon, Deutsche Bank, Santander and UBS – the latter of which first disclosed its work on a so-called "settlement coin" last year – are hoping to launch a commercial-grade blockchain system by 2018, according to The Financial Times. The banks are working with blockchain startup Clearmatics, based in London. A formal announcement will reportedly be made tomorrow, FT's Martin Arnold reports. He explained in the article: "The utility settlement....