BTL Group Confirms Enterprise-Oriented Interbit Beta Release

The enterprise technology platform provider BTL Group has announced the beta rollout of its Interbit corporate Blockchain tool.

Interbit, which was first announced in 2015 with an eye to corning the remittance market, is now moving forward “specifically with enterprise in mind,” BTL co-founder Guy Halford-Thompson has said.

He commented:

“We have built the Interbit platform specifically with enterprise in mind to help companies overcome many of the challenges they face today such as the high cost of maintaining legacy IT frameworks, the speed of data transfer, data loss, reconciliation and cyber security.”

The move out of alpha follows a year of successful pilot projects, collaborating with Visa and concentrating on the energy sector. A fundraising round in April saw over $3 mln raised, allowing the project to “set a clear strategy” for growth in 2017.

A further development will see corporate clients able to build their own applications on Interbit direct.

“We believe that enabling key clients to build on Interbit will create a growing pipeline of new business for BTL,” Halford-Thompson continued.

Interbit joins a growing number of solutions providers aiming to revolutionize the corporate applications space through the use of Blockchain in various forms.

Already a diverse industry, IBM Blockchain is perhaps the most well-known player this year so far, its solution based on Hyperledger technology.