As you might know, I joined First group (then called Eppur) back in March with the ambiguous title “blockchain expert”. In practice, I tried a few different projects there, and nothing really hit the bill… until I joined Titan (a member of First) as VP R&D a few months ago.
Titan’s mission is to build “Enterprise-grade digital asset banking services”. In practice, this means we are building a cryptocurrency wallet designed for enterprises such as funds, asset managers, retails and eventually banks. This means that in addition to all the usual features you can find in crypto wallets like security, sending and receiving funds, viewing transaction history etc… we are building additional features tailored for companies. Just to give you a hint, a few of these features that don’t exist in consumer-centric wallets are:
- Policies, sub-accounts and roles
- Reporting
- Auditing
- Rich API
- Accounting
- Enterprise-level support
Now, we are not alone in this mission statement. Several competitors exist in the market, with one market leader (I’ll let you Google their name :) )
We aim to, at the very least, conquer a large section of the enterprise digital banking market.
There are a few approaches we are considering on how to make this dream a reality. One possible direction is making our solution completely open source from the ground up. Whether to open source a product is a business decision, and we would need solid business reasons to do so. I hypothesize that when banks seek solutions for managing their crypto, they would prefer to install an open source, on-premise software, that they can fully audit and review, rather than using a SaaS like or trusting a closed box product. We need to review and validate this assumption with potential customers (if you know a bank that’s ahead of the curve on crypto, please let us know and we’ll happily reach out to them). We could even take this further and build an open business collaboration network (codename Open Biznet), that will allow businesses of any kind to work together via blockchain and open protocols… it’s still work in progress.
That’s one possible direction, but the space is huge and we are still debating the different possibilities, while simultaneously developing our MVP (to be released to our first client this November).
If you are an enterprise or business that holds or plans to hold crypto, and have an itch that isn’t scratched by the existing solutions — talk to us. We will be more than happy to discuss a possible design partnership, where you can tell us your pains and needs, and we could tailor our solution to be your dream wallet.
