Bitfury Releases 'Anchorable' Enterprise Blockchain

Bitfury announced a public enterprise Blockchain initiative. Bitfury group is open-sourcing its first private Blockchain framework, called Exonum, the software aims to distinguish itself from DLT solutions by enabling users to secure data using the bitcoin Blockchain. 

 Valery Vavilov, the CEO of Bitfury Group, stated, “ What we observe is a lot of companies and institutions becoming more and more comfortable using the bitcoin blockchain. Those monitoring the system know bitcoin has been around for 8–9 years, that it hasn't been hacked and that it is offering security that doesn't exist anywhere else." 

Alexander Shevchenko, head of Exonum, further stressed how the notion of adding cryptographic data from private, permissioned blockchains into the public bitcoin blockchain would strengthen the assurances of even trusted parties and networks. "Anchoring brings security to the solution. Even if all the validators collude and want to go back in time and rewrite an Exonum blockchain, they can't do this," he said.

As evidence of interest, the software is also already in use in Bitfury Group's ongoing projects – including its land title trial in Georgia, as well as an undisclosed insurance effort.