In an article on Medium, writer Adam Holt shared how Bitreserve could serve as a central hub for digital assets to be stored in the cloud. The company currently holds $2.7m assets in their reserve, denominated in various currencies such as USD, EUR, GBP, etc.
Bitreserve aims to create a financial ecosystem in which people can hold, send, and receive money to and from anyone instantly. It could allow users to enjoy the safety and security of one-for-one matching in their reserve, enabling people to transact in up to sixteen different currencies instantly.
Cloud Storage for Digital Assets
The company publishes a real-time proof of solvency, assuring users that their holdings are backed up by real money. Bitreserve envisions a new financial system that removes the costs and delays of traditional banking. In addition, the company donates five percent of its profits in perpetuity to supporting economic opportunity worldwide through the Bitreserve Fund.
In a blog post, Bitreserve went into further detail about the transparency provided by their digital assets cloud server. In particular, the company shared how Reserveledger