Blockchain

BTL Group (TSXV:BTL) has announced it has joined the CitizenOS venture with Xinova, LLC and Helix Applications. As quoted in the press release:  As described herein, BTL will contribute Version 3 of its Interbit™ megachain technology platform – which is still being developed and Helix will become the technology and App developer for the Venture. The …

BTL Group (TSXV:BTL) has announced it has joined the CitizenOS venture with Xinova, LLC and Helix Applications.

As quoted in the press release:

 As described herein, BTL will contribute Version 3 of its Interbit™ megachain technology platform – which is still being developed and Helix will become the technology and App developer for the Venture. The parties have agreed to use the initial 6 months to evaluate the agreed technology and commercial benchmarks before deciding to form an Equity Joint Venture (as described below).

“Thousands of cities around the world need innovative solutions for information technology deployments to help their citizens live healthy, happy and productive lives using socially-conscious and equitable systems that respect privacy and the role of government policy,” said Edward Jung, CEO of Xinova. “A century ago, electric power and telephony emerged as utilities enabling huge improvements in the way we live our lives. Today, citizen data is a new utility in need of an infrastructure that empowers third-party developers to innovate novel applications to better the lives of the citizenry. These must be built on top of a system that enforces privacy, builds trust and enables government policy — from day one and not as an afterthought. The CitizenOS Project captures the wave of distributed and trusted infrastructure developments, builds upon the scale of the Interbit™ architecture to millions of blockchains, and will enable global application development in areas such as FinTech, healthcare, logistics and transportation, citizen services, and social credit. All while upholding the privacy and rights of citizens, and without burdening the application developer with the details of any specific city policy or configuration.”

“It is the Interbit™ platform’s approach to scale and privacy that will enable the CitizenOS Project to realize the significant opportunities that exist in the adoption by urban areas of smart city technology,” said Tom Thompson, BTL’s CTO. “To participate in this new version of edge computing is exciting, and we will absorb every benefit we can from working closely with the Xinova team.”

“The progress we are making with version 3 of the Interbit™ platform will be accelerated with Xinova’s experience and in building the CitizenOs Project,” added Dominic McCann, BTL CEO.   “The demand requirements from the cities that the CitizenOS Project will be marketed to, will challenge the megachain ambitions we have for version 3 of the Interbit™ platform.”

Click here to read the full press release.

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