itBit: Bankchain Project Based on Distributed Ledger, Not Bitcoin
itBit disclosed further details on its Bankchain Project, citing that it will be based on the distributed ledger concept but will not use bitcoin. This project aims to create a private consensus-based ledger for applications to be used in the financial industry. More and more banks and financial institutions are looking into the potential usages of blockchain or the public ledger of bitcoin transactions in record-keeping or trade settlement. Some banks such as Westpac and ANZ in Australia are currently working with blockchain-related companies in order to explore this technology further.....
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ItBit has revealed new details about its formerly top-secret Bankchain project, a private consensus-based ledger system aimed at appealing to enterprise financial institutions. With the formal unveiling, the New York-based bitcoin exchange has joined the number of blockchain firms seeking to compete for the attention of banks that want to utilize the efficiencies of distributed databases without using bitcoin or its blockchain. In a new interview, Steve Wager, head of global operations for itBit, spoke at length about the project, rumors of which first began surfacing in late July.....
New York-based bitcoin exchange itBit is set to host a private gathering of financial industry professionals on Monday, 27th July. The all-day, invite-only "Bankchain Discovery Summit" will be held at one of the city's Convene locations, a meeting space provider operating in both New York and Washington, DC. Expected attendees are said to draw largely from major banks, brokerages and exchanges. An invitation obtained by CoinDesk reads: "Join us for the inaugural itBit Bankchain Discovery Summit. Interact with industry peers, hear from our panel of experts and address topical blockchain use....
Blockchain startup itBit has taken steps to reorganize its corporate assets. Announced yesterday, itBit officially rebranded as Paxos, migrating its blockchain projects to a new entity under which itBit will now sit as a separate division. The move confirms past indications that its leadership was seeking to rebrand to better highlight its private blockchain and distributed ledger work. According to the company, "Paxos" will now house itBit's distributed ledger efforts, thereby separating this division from its bitcoin exchange and over-the-counter trading services. The rebrand....
New York-based bitcoin exchange itBit has hired a securities services and technology veteran to head operations in Europe, the Middle East and Africa. The hire of Jason Nabi comes as the exchange opens a new office in London. Prior to itBit, Nabi worked for major European bank Société Générale as its global business lead for post-trade services. Nabi started his career as a dealer on the London Stock Exchange, and has held senior positions at IBM Global Services, Bloomberg and BNP Paribas Securities Services. He said in a statement: “The industry is at a turning point with distributed....
In February, Bitcoin Magazine reported that The Linux Foundation’s Hyperledger Project, a collaborative effort started in December to establish, build and sustain an open, distributed ledger platform that will satisfy a variety of use cases across multiple industries, was announcing new members from across the industry, technical updates and a formal open governance structure. Now, with a press release published on its main website and the Hyperledger website, The Linux Foundation is announcing that the Hyperledger Project has filled key leadership positions and 10 new companies are....