Bitcoin started off as an alternative to regular fiat currency. But over time, the underlying Blockchain technology has gained more prominence. While Bitcoin as a digital currency offers a viable alternative to fiat currency, Blockchain technology is on its way to change the whole FinTech industry. Symbiont is one such company that is leveraging upon the power of Bitcoin and Blockchain technology to offer smart securities and market solutions to Wall Street.
Symbiont offers smart contract solutions for various financial instruments to ensure better transparency, accountability, automation and reduced risks at a significantly lower cost. The company mainly depends upon the Bitcoin Blockchain to create and execute these smart contracts and smart instruments.
Symbiont’s technology uses multiple layers of protocols integrated by the company’s proprietary translator software – Babel Fish to create and execute smart securities. These smart securities are smart contracts at the core, with additional information and commands included to make it a unified digital financial instrument. The unified structure of financial instruments created by Symbiont begs to differentiate from other smart contract providers like OverStock which uses multiple token system.Read more ... source: TheBitcoinNews