Blockchain Based System For Banks Launched By Ex Google Engineer Techworm
The main job of Vault OS is to perform the core function of a bank: essentially, maintaining a huge ledger. Each instance of the OS will run its own private blockchain and cryptographic ledger, hosted as a service by ThoughtMachine. The ledger is tamper-proof and transparent, it means that transactions can be processed without the need for third-party verification. “Most of the banks are using systems that were written in the 80s and 90s, and they just are not ready for the security-conscious internet app age at all,” Taylor told Reuters....