This week's ICE Totally Gaming event in London's Docklands opened with the bitcoin and cryptocurrencies seminar keynote delivered by Halsey Minor, founder and CEO of Bitreserve.
Minor’s speech was entitled: “Money Meets Innovation,” which discussed his personal history as a serial entrepreneur and his latest venture, which promises to disrupt the legacy financial system.
Minor, who has been at the helm of technological disruption since the 1990s, has been building and growing cloud technology companies for more than 20 years.
Twenty-three years ago Minor founded CNET Networks and sold it in 2008 for $1.8bn, was an early investor in Salesforce.com; he was the first investor in the music service Rhapsody; he co-founded Grand Central that was acquired by Google to later become Google Voice. From software in the cloud to telephony in the cloud, Bitreserve, launched just three months ago, is a cloud-based money system that is already making waves in the gaming sector.
Spotting a market ripe for disruption, Halsey has created a new financial system that connects traditional banking with digital currency. Following opening remarks by Jon Matonis of the Bitcoin Foundation, Halsey explained: “We are a cloud money system. Using Bitreserve, you can hold money in five real-world currencies, plus bitcoin and gold, enabling members to participate in the digital economy without the risk and volatility of bitcoin.”
With value in the cloud backed by real currency held in a full reserve, Bitreserve transactions are instant, secure and free. Most importantly, according to Minor, the company’s ability to showcase all movement into, within and out of Bitreserve in a fully transparent way is changing the face of payment systems for gaming companies.
Acting as the “Amazon Web Services for banking,” Bitreserve’s transparency removes regulatory obstacles, making it easier and cheaper to do business and most importantly, builds trust among consumers and suppliers. It also is the most effective and affordable way to create segmented accounts on a large scale.
Minor mentioned Bitreserve’s future plans with several gaming partners, including BlockEx. Adam Leonard, CEO BlockEx, added: “Our partnership with Bitreserve will enable our clients to move funds instantly and practically cost free. Most importantly the full transparency capability will offer a level of trust for partners and traders that will no doubt lead to greater deposits and turn over.”
