Energy Magazine April 2018 | Page 29

boasts a computer science background and over six years of experience in the blockchain space . After running a bitcoin brokerage for some time , he decided to leverage the blockchain technology behind bitcoin for enterprise applications . In short , he wanted to discover a way of speeding up global payments with real money while reducing settlement times and reconciliation issues between banks . “ I realised there must be about a trillion dollars in money that had been sent but not yet received by people and businesses around the world ,” Halford-Thompson explains . “ It turned out there ’ s even more tied up in money that is owed but not yet invoiced for , because we don ’ t even know how much is meant to be sent due to reconciliation issues . Our pilot project with Visa showed that there was a real reconciliation problem between banks , so we ’ ve taken that
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