Abacas issues first asset-backed coin on bitcoin blockchain
The exchange, launched in June 2015, allows managers to exchange assets without owning them
Abacas has issued its first asset-backed coin (ABC) using the bitcoin blockchain and gained the capability of validating financial transactions using the technology. Alongside this, the exchange is now able to create, track and send a financial asset via blockchain.
"We are using the blockchain to publish the details of a transaction and the bitcoin is good for this because it can be used as a medium for smart contracts that anyone can see," says Vince Small, principal and chief technology
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