The BitFury Group Announces Expansion to Full Service Digital Asset Technology Company

New Software Growth and Development Increases Company Capabilities

Apr 29, 2016 · 3 min read

I co-founded The BitFury Group in 2011 because I deeply believe in the transformational power and potential of the groundbreaking technology of the Blockchain.

Over the past few years our company has focused its energies on providing the hardware solutions that allow users all over the world to transfer assets securely and quickly on the Blockchain. I am proud of our hard work, tenacity, dedication and passion for doing good work — it has propelled us to became one of the largest Blockchain transaction processing companies and Blockchain security providers in the world.

Thanks to our great success, I am thrilled to announce that we are now expanding our company to include software. We are not at all abandoning our efforts to secure the blockchain (often referred to as mining.)

We are evolving our business to become a full service technology company.

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.

Our broad suite of software capabilities will include but are not limited to:

Blockchain-Based Property Rights Registry
We just announced our pilot blockchain-based property rights registry project in the Republic of Georgia. 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.

Blockchain Analytics

The Blockchain contains an unalterable record of every transaction ever made on Bitcoin Blockchain. This immutability allows to trace nefarious uses of digital currency through big data mining and advanced data analytics. We plan to partner with law enforcement agencies globally, just as we have in the U.S. through the Blockchain Alliance, a public-private forum formed by the Bitcoin community to help combat criminal activity involving bitcoin and the Blockchain. Supported by regulators and law enforcement, Blockchain adoption will rapidly accelerate, providing ultimate security and bringing new opportunities.

Lightning Network

Lightning — an overlay network to the Bitcoin Blockchain — increases its utility by enabling instantaneous microtransactions. Lightning brings significant transactions scalability and provides a solid foundation for new applications such as the monetization of the Internet of Things. The Lightning Network is among the industry’s most important efforts for Blockchain extensibility. We believe that the Bitcoin Blockchain and its extensible elements such as Lightning Network have the capacity to enable a trillions-of-transactions-per-year economy within a decade.

Platform-as-a-Service (PaaS)

We are building a digital assets platform-as-a-service (PaaS) framework. This framework will assure privacy, external auditing capability and authentication and can be used for both permissioned and permissionless blockchains. To ensure immutability, the service will allow for anchoring to the Bitcoin Blockchain. Cloud technology enables lower costs while providing the same level of security as on-premises solutions. We see the Blockchain technology becoming even more widely adopted as users reap benefits brought by the cloud technology.

Informational Web Portal

This new web portal is envisioned as an information hub that aggregates bitcoin and Blockchain-related statistics and news from around the web-a valuable resource for bitcoin Blockchain novices and experts. The goal is to demystify the Blockchain by making information available and easy to digest, and establish this portal as a trusted source of information for all-things Blockchain.

Blockchain Infrastructure

We will continue to offer our leading-edge technology for providing and securing Blockchain infrastructure including our custom design application specific integrated circuits (ASICs) and portable data centers packaged in cargo shipping containers. We remain true to our mission as we expand our technology offering to include the software platform capabilities. The Bitcoin network and community continue to evolve and so do we, meeting the increasing performance demands with innovative technology solutions.

We will share additional updates on our expansion and specific projects in the coming months. For more information about the BitFury Group and our company expansion please visit our website

Valery Vavilov

Written by

CEO of the Bitfury Group, the leading full-service blockchain technology company.

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