Halsey Minor launches a platform that addresses Bitcoin volatility
Today, Internet and technology entrepreneur Halsey Minor announced his return to the sector with the launch of Bitreserve, a Bitcoin platform that is said to address “Bitcoin volatility and provides real-time transparency, transaction traceability, and proof of solvency”.
In a press release issued from the company’s headquarters in Charleston, South Carolina, Minor commented:
“Bitcoin is a remarkable innovation, created and supported by lots of very smart people… Bitreserve is built on top of the bitcoin network, allowing members to convert Bitcoin into money they know, trust, and understand”.
“Our system is designed for a post-trust world… Just like the Bitcoin network, everything is out in the open, traceable, and continuously updated”.
Tim Parsa, the company’s chief executive officer, added:
“We offer our Members all the advantages of Bitcoin – fast, irrevocable, low-cost, peer-to-peer payments – but without Bitcoin’s value-destroying volatility”.
Bitreserve is currently an invitation-only private beta that publishes all its obligations to its members in real time. It allows its members to hold Bitcoin demoninated in dollars, euros, yuan, yen and pounds and backs them with a full reserve of real world currencies.
The future of money and payment systems is indeed a changing and where visionaries like Halsey Minor, whose CNET business was sold for £1 billion ($1.7 billion) in 2008, lead, many others will undoubtedly follow.
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