Stash Inc Aiming to Disrupt the Financial Technology Industry
Stash Inc is pleased to announce the launch of its new business venture based on the Open-Transactions financial cryptography platform.
The new business is set to disrupt the financial technology industry, both for Bitcoin and for traditional currencies, by removing the need to trust certain intermediaries.
Stash Co-Founder and CTO Chris Odom claims that their software “solves the Mt.Gox problem” by eliminating the need to store user funds.
“Services running our software will be incapable of stealing or losing customer funds," said Odom, "because they will never receive nor store those funds in the first place.”
Stash CEO and Co-Founder Cliff Baltzley said,
“We expect our software to create new competitive pressures because it changes the economics. Not only do customers prefer services they don’t have to trust, but insurance costs will also be reduced due to the lower liability.”
Standard features of Stash’s platform include unforgeable receipts, smart contracts, recurring payments, untraceable cash, bid/ask exchange, Bitcoin integration, off-blockchain transactions, and currency issuance onto the blockchain.
Baltzley added,
“Our small but dedicated team of financial cryptography experts are poised to help change how the world of money operates, giving unprecedented financial autonomy to all end users.”
Odom and Baltzley aren’t strangers to software cryptography. Odom is also the co-founder of Monetas, a Swiss firm focused on mobile payments in Africa, and Baltzley is the founder of the pioneering secure email provider Hushmail.
Stash Inc is currently exploring capital investment opportunities with qualified investors. Funds will be used for specialized software developers and engineers, plus operations.
About Stash Inc
"We're making trust obsolete."
Cryptocurrencies are still plagued by hacks, scams, and thefts, Mt.Gox being the most prominently cited.
Most financial or Bitcoin-related businesses share the same problem: They have to hold their users' money. Our technology eliminates the storage—and therefore theft—of user funds. It effectively eliminates counterfeiting and fraud. In the new normal, anything less will be unacceptable.
Related News
There’s a new kind of transaction platform coming to the crypto scene and it’s different from the rest. Stash is a platform that offers fast and low cost off-blockchain transactions in a trustless manner. Off-chain transactions are movements of value outside of a blockchain and by using this method there can be some positive outcomes such as speed and....
Highlighting the considerable limits of traditional banking systems, a former banker has placed XRP at the top of payment services in the financial sector, predicting that cryptocurrency will disrupt the payments industry. Bold XRP Prediction By Financial Expert In a rather lengthy X (formerly Twitter) post, ex-banker and financial expert, Kyren made a controversial prediction […]
The former Group CEO of Barclays, Antony Jenkins, predicts a future within the next ten years wherein financial technology or fintech will substantially disrupt traditional banking systems and the banking industry as a whole. He is convinced banking installations and those employed in banking institutions will be reduced by at least 20% in the coming ten years, if not up to as much as 50%. Antony Jenkins, former CEO of one of Barclays, the UK's second biggest bank in assets after HSBC has predicted an "Uber-like" disruption from the Fintech sector to come crashing down on the current....
R3 and Singapore’s central bank, the Monetary Authority of Singapore, have partnered up to establish a “distributed ledger technology center” to give Singapore a lead position in Asia’s FinTech industry. Setting up a lab. The MAS will be collaborating with the NY-based company to develop and potentially implement Blockchains into financial institutions with the R3 Asia Lab. Both companies are aiming to disrupt the FinTech industry with efficient, transparent and cost-effective solutions which could improve transaction security and be used on capital markets worldwide. Sopnendu Mohanty, CFO....
The Austin, Texas-based software startup Stash Inc., has just announced the release of its first product — the “Stash Node Pro.” The device is a Bitcoin full node with various features that protect privacy and cryptographic financial security. Stash Reveals Its Bitcoin Full Node With Strong & Privacy-Centric Cryptography. Stash is a privacy-focused....