AltcoinsBlockchain DAppsEquities/Derivatives

Digital Asset, Elliptic & Case Wallet Help Prediction Platform Pivit Issue Digital Securities

Pivit, a prediction market platform for global events, announced today that it has issued digital securities for a portion of its nearly $5 million funding round.

For digital asset technology, Pivit turned to New York-based Digital Asset Holdings, a distributed ledger technology startup, who in turn enlisted UK-based Elliptic Enterprises, a blockchain-based asset vault provider, and Case Wallet, the multi-factor, multi-signature hardware wallet developer.

Pivit Director and CoFounder Greg DePetris commented:

Pivit leadership has always been on the leading edge of financial technology innovation, and we are excited to use Digital Asset’s software to create a more efficient, cost effective and secure way of settling financial transactions. Blythe Masters and the Digital Asset team are positioned to bring together a wide variety of constituents from the financial community, and we’re excited to be in a position as a company to take advantage of the efficiencies being created through the institutionalization of blockchain technology.

Blythe Masters, Digital Asset’s CEO, noted:

Digital Asset is proud to have provided the technology to permit Pivit and its investors to take advantage of the efficiency, speed and security of issuance of a private security on the blockchain. The issuance is an important milestone in demonstrating the potential of blockchain technology.

The technology provided by Digital Asset and its partners is designed to ensure that the digitally issued securities remain under the full control of Pivit and its investors.

Delivering its own platform in native or integrated versions, Pivit is positioning itself as a predictions market for real-time global events, such as political contests, sporting events, financial markets, reality programming and weather. The company utilizes proprietary data science, audience engagement and data points to determine probability on outcomes. The company says that it will soon be announcing its first major media partnership, which will extend across global politics with a focus on the 2016 U.S. Elections. Proceeds from its fund-raising round will be used to support the growth of real-time data and gaming partnerships across Pivit’s politics, sports and entertainment verticals.

Howard Edelstein, an invester in Pivit, added:

Pivit represents a new form of engagement that can dramatically impact large market  segments, including digital media, polling, gaming and data analytics. Digital Asset is poised to have a similarly profound impact on  the financial services industry. I’m happy to join so many other supporters from the finance, media and investing communities in seeing these two companies continue to  innovate.

The transaction marks the first successful securities issuance facilitated by Digital Asset. Founded in 2014,  Digital Asset has this year made two acquisitions, Bits of Proof and Hyperledger.  Bits of Proof developed and deployed an enterprise level server to integrate blockchain technology into financial applications. Hyperledger developed its own private blockchain technology enabling financial institutions to create multiple private blockchains across a known group of participants. Unlike other distributed ledgers, Hyperledger does not have an inbuilt crypto-currency and uses a consensus algorithm capable of thousands of transactions per second. With its pool of technology, Digital Asset plans to offer both public and private blockchain tech options to customers seeking to offer digital assets.

Joining Digital Asset in March 2015, Masters was originally a high profile investment banker at JP Morgan. She was widely credited for developing the credit-default swap instrument that compounded the subprime mortgage crisis in 2008, although the credit derivatives were distorted from the original intent.

Founded in London by three scientists with technical PhDs, Elliptic is an accredited provider of secure storage for digital assets including bitcoin, and is rolling out a data visualization tool for AML intelligence in the bitcoin ecosystem.

Case Wallet is a venture-backed startup that has developed a credit card-sized hardware wallet for digital currencies that leverages multi-signature, multi-factor security with visual validation and global GSM connectivity.

Other blockchain technology companies like ChainOvertstock’s t0 and Symbiont have rolled out private digital securities on the blockchain for banks and private companies.

Journalist, policy analyst, and evangelist of new, disruptive technologies including big data analytics, Internet of Things, and cryptocurrencies. Internet industry veteran with regional c-suite experience, and journalist credentials earned at, Internet World magazine, and Mecklermedia Corporation.
Free AllCoinsNews Email Updates
Get the latest cryptotoken market news and blockchain developments!
We respect your privacy.