In a post penned by the CTO Co-Founder, Dr. Adam Joyce, UK-based Bitcoin analytics firm Elliptic has announced that it has been awarded Security Project of the Year award by the leading financial magazine, The Banker.
The Banker’s Technology Projects of the Year awards are among the highly coveted in the industry. This year, the magazine received 270 submissions in various categories such as risk management, security, social media, strategic transformation, trading, payments, developers APIs, data and several others. Other winners included JPMorgan Asset Management, BNY Mellon, Citigroup, BBVA, OTP Bank and ParFX Prime.
The Banker awards judges explained:
Sound storage and management of blockchain technology has become imperative in today’s market … Elliptic Vault addresses these key security issues. Projects such as Elliptic Vault could help make Bitcoin more attractive to relatively conventional or conservative financial institutions that still shy away from this new technology and its security issues.
James Smith, CEO and co-founder at Elliptic said,
“Bitcoin and other blockchain-based assets operate as bearer instruments – if you lose the key, you lose control of the asset. It