Leading Bitcoin Blockchain infrastructure provider and transaction processing company, BitFury , has recently released a white paper entitled “Digital Assets on Public Blockchains”. The paper demonstrates methods of storing and transferring digital assets securely on the bitcoin-secured public blockchain . Blockchain infrastructure enables digital asset management
During the process of drafting its white paper, the BitFury group discovered blockchain infrastructure can be utilized for digital asset management that would allow the global economy to store purely digital assets and control them online.
Major blockchain networks, most notably the Bitcoin blockchain network, hold the capacity for storing various sets of data apart from the main transaction data. The BitcoinCT r: 8 blockchain, for example, enables senders to store alternative data sets on the actual transaction, such as texts or strings of data.
This secure storage of data on an irrefutable and unalterable blockchain like the Bitcoin blockchain is made possible due to the unique property of the bitcoin blockchain that allows senders to embed additional information. The usage of digital assets in financial services
Since early 2015, the Bitcoin and cryptocurrency community have seen the rising interest of financial firms and global corporations in the blockchain technology. The R3 consortium, which is composed of the world’s largest and most powerful banks have already used the Ethereum network to build their own permissioned blockchain to send and receive international payments at lower costs and process traditional financial settlements on the blockchain network.
The BitFury team explains that blockchain-secured digital assets can be used effectively in financial services and on emerging consumer-to-consumer markets . Digital assets stored on the blockchain network can be further used for alternative activities such as crowdfunding , charity, peer-to-peer lending and smart properties purchases.
As the Bitcoin blockchain network is transparent, it allows anyone to track the digital asset on the […]
