BitFury Expands Venture to Provide Blockchain Technology Services

BitFury, one of the largest Bitcoin mining companies in the world today, has announced the launch of a series of blockchain-based products and services, including blockchain analytics, Blockchain-Based Property Rights Registry, Lightning network, informational web-portal, platform as a service (PaaS) and platform for developers.

“With the help and expertise of The BitFury Group, we will ensure that any business, organization, individual or government will successfully plug into the Blockchain — we make it easy, fast, cost-effective and secure,” stated the BitFury Group CEO Valery Vavilov.

As a part of the “expansion” of its venture, the BitFury Group overhauled the company’s previous tagline, refining it to “Your full service blockchain technology company.”

Change in Trend

Over the past few years, the blockchain technology has become the main source of interest of global financial establishments, technology conglomerates and corporations. The concepts of “smart contracts” and “permissioned blockchains” swept the across the industry, restructuring the pathway of venture capital firms, angel investors and startups. Quickly realizing the changing trend in the cryptocurrency market, startups like BitFury began to shift their focus from bitcoin to the blockchain technology, which companies claim it is more applicable than Bitcoin.

The statement released by the BitFury team hinted that the company will collaborate with businesses, organizations and government agencies to provide efficient uses of the blockchain technology and help the integration of the technology in existing platforms and applications.

One ongoing blockchain project of BitFury is the Republic of Georgia’s blockchain-based property rights registry, which takes advantage of the blockchain network’s irrefutable and unalterable nature to store sensitive and personal data. “This innovative project is a partnership with the National Agency of Public Registry of the Republic of Georgia. Hernando de Soto, The BitFury Group board advisor and a renowned economist famous for evangelizing the importance of property rights, will be advising on project development. We envision that this initiative would expand globally, securing the ownership rights for billions of people worldwide,” said Vavilov.

Throughout 2016, the BitFury Group plans to establish more robust blockchain infrastructure aimed towards corporations, organizations and governments.