28 August 2016
Find out more

Tech entrepreneur Halsey Minor promises to tackle Bitcoin volatility

15 May 2014  |  1845 views  |  0 Source: Bitreserve

Internet and tech entrepreneur Halsey Minor announced the launch of Bitreserve, a bitcoin platform that addresses bitcoin volatility and provides real-time transparency, transaction traceability, and proof of solvency.

"Bitcoin is a remarkable innovation, created and supported by lots of very smart people," commented Minor, who founded CNET in 1993, growing it to be a Nasdaq 100 company. "Bitreserve is built on top of the bitcoin network, allowing members to convert bitcoin into money they know, trust, and understand."

Minor is Bitreserve.Org's Founder and Executive Chairman. Tim Parsa, a tech, media and telecom veteran, is the Company's Chief Executive Officer.

"We offer our Members all the advantages of bitcoin -- fast, irrevocable, low-cost, peer-to-peer payments -- but without bitcoin's value-destroying volatility," commented Parsa.

Bitreserve Members can hold bitcoin denominated in dollars, euros, yuan, yen, and pounds. These "bitcurrencies" are backed by a full reserve of real-world currencies.

"Our system is designed for a post-trust world," commented Minor. "Just like the bitcoin network, everything is out in the open, traceable, and continuously updated."

All the Company's obligations to its Members are published in real-time and are traceable back to their origin on the bitcoin network's blockchain. While always keeping private its Members' personal information, the Company provides a continuously updated status of its obligations to its Members and of the assets it holds in reserve--a public, real-time, traceable proof of solvency.

"People work hard for their money; they have a right to know what's being done with it," commented CEO Parsa. "What you do with your money is your business. What we do with your money is everyone's business."

Minor is an Internet and tech pioneer, having founded or financed many well-known companies, including CNET, Grand Central (now Google Voice), OpenDNS, Rhapsody, Vignette, and Salesforce.com. Parsa, a New York State Bar-sworn attorney and returned Peace Corps volunteer, is a seasoned entrepreneur, having founded and run many tech, media, and telecom ventures. 

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
Visit VocaLink.comVisit www.abe-eba.euVisit capgemini.com

Top topics

Most viewed Most shared
hands typing furiouslyBig Data's Three Big Trends in 2016
7934 views 5 | 22 tweets | 13 linkedin
hands typing furiouslyHow Banks Are Losing Millions by Ignoring...
7657 views 11 | 24 tweets | 10 linkedin
Nordea looking for AI and blockchain breakthroughsNordea looking for AI and blockchain break...
6637 views comments | 17 tweets | 21 linkedin
R3 blockchain consortium sheds light on Concord projectR3 blockchain consortium sheds light on Co...
6129 views comments | 14 tweets | 14 linkedin
India's Unified Payments Interface goes live with 21 banksIndia's Unified Payments Interface goes li...
6050 views comments | 16 tweets | 18 linkedin

Featured job

Find your next job