BitGo Announces Launch of Solvency Proofs Verified by BitGo


BitGo announced today the release of its latest product offering, Verified by BitGo, a product that provides a real-time view of bitcoin assets owned by a company.

Whereas in the past, verification attempts were slow and often had security risk concerns, BitGo hopes that this will be a verification that allows it to publicly share all of its assets. Further, it will be able to cryptographically display that it is in a solvent state.

When dealing with brokerages and wallets, knowing that the provider is solvent can go a long way toward making a decision on using a service. This service will enable end users to analyze what the company’s assets are and compare that to its liabilities, even drilling down to ensure that the user’s own account is included in the total liabilities.

“We’re offering Verified by BitGo to selected partners as part of our unified platform offerings. The first step needed is to use a BitGo wallet for storing the business’ bitcoin,” Ben Davenport, CTO and co-founder of BitGo, said in an interview with Bitcoin Magazine. “It is not yet available for general self-service signup, but we’re interested in working with other Bitcoin businesses to help

Read more ... source: TheBitcoinNews