NEW YORK—The co-founder and CTO of blockchain startup Symbiont, Adam Krellenstein, is working to modernize Wall Street by building the decentralized ledger technology beneath bitcoin into the fabric of certain parts of the stock market.
So, last week, when one of the former most influential people in bitcoin, Mike Hearn — who helped write the code that powers the cyrptocurrency — said he’d given up on the work, we joined many others around the Internet who wondered how the news might impact other blockchain companies.
In a conversation with the New York Business Journal, Krellenstein explained why he thought Hearn was wrong about bitcoin and why Symbiont chose bitcoin’s blockchain to power its self-executing — or “smart” — contracts that can be programmed to automatically fulfill a wide range of market services only after pre-determined criteria are met.
What is Symbiont?
Symbiont is a smart contracts company, first and foremost, and one that uses multiple blockchains and distributed ledgers for different use-cases. We are blockchain agnostic. We use the distributed ledgers, the blockchains, as storage for hosting consensus of our smart contracts.
Which blockchains do you currently use?
In August, we announced that we run our service on the bitcoin blockchain when we issued Symbiont’s securities, private equity, ownership in Symbiont, on the bitcoin blockchain. We did that because bitcoin is by far the most mature, secure, stable public blockchain.
Read more http://upstart.bizjournals.com/entrepreneurs/hot-shots/2016/01/22/why-symbiont-s-co-founder-chose-bitcoin-s.html
Topic: [2016-01-22]Why Symbiont’s co-founder chose bitcoin’s blockchain to help (Read 256 times)
January 23, 2016, 06:07:56 AM
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