Vanbex Group, a blockchain-based products and professional services firm, has been invited to speak on its latest product, Genisys, at the Banff Venture Forum being held at the Fairmont Banff Springs Hotel on September 22-23. Genisys is a blockchain integrated payment system that leverages the features and benefits of a distributed ledger network while layering smart contracts for compliance and messaging flexibility.
Kevin Hobbs, CEO at Vanbex Group, remarked: “We are happy to be recognized in this space and hope to continue to educate people on how blockchain technology and our products are changing the global business landscape. This forum will give us the opportunity to showcase Genisys, our financial product that will change the way we currently transfer financial assets.”
At the conference firms are invited to showcase their products to industry-related investment firms. The Banff Venture Forum chooses participants based on a number of criteria, including requirements for seed funding and milestone statuses and a preferred amount of current revenue before a selection committee grants final approval of all company selections.
The Genisys platform provides a decentralized financial messaging system that is an alternative to services like the Automated Clearing House, the Clearing House Interbank Payments and the Society for Worldwide Interbank Financial Telecommunication. The Genisys system will also be cross-compatible with these legacy systems, while also complying with ISO20022, the new global financial messaging standard.
Hobbs added: “The goal of Genisys is to make financial transfers more secure, efficient, and cost effective for all users. Genisys is a compliance driven, real-time settlement blockchain. The system will enable merchants, payment processors, foreign exchange houses, and other money-movers to securely transmit financial messages to achieve instant clearing and settlement at a fraction of the cost offered in the current financial marketplace.