Bloq, PwC Australia, Libra and Netki, have launched a new fintech business platform called Vulcan Digital Asset Services to enable digital assets to be used for everyday banking, commerce and other personal currency and asset related services.
Vulcan will provide digital currency wallets, international payment processing, and investment and trading services, and will soon offer point-of-sale and merchant services and the ability to create and support native digital currencies and rewards based systems. Currently, Vulcan is exploring projects with an international banking group, a Central Bank, a regional airline and six other banks.
“There are still significant hurdles to the integration of digital and fiat currencies,” said Jeff Garzik, Co-founder and CEO of Bloq. “Vulcan is a one-stop-shop for enterprise customers seeking advanced solutions for digital currency adoption – and expertise in mass implementations.”
John Shipman, PwC’s Fintech Asia Leader said: “Traditional financial services companies have taken a cautious approach to digital currencies because of the perceived issues with trust and transparency. Vulcan came about because we were looking at these issues in relation to Bitcoin – the poster child of digital money – and in particular, how we can solve challenges relating to the issues of anonymity, and existing regulatory requirements, and recourse given its cross-border nature, function as a store of value and lack of central control.”
Vulcan is the latest strategic initiative from Bloq aimed at enabling blockchain adoption at the enterprise level. In 2016, Bloq also launched BloqEnterprise, a comprehensive blockchain operating system, and has partnered with several of the world’s largest IT consultancies to bring blockchain software solutions to market leading companies.
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