Bitfury Celebrates Its Fifth Anniversary

News and Analysis

Bitfury has now been in operation for five years. According to the post by Valery Vavilov, the company’s CEO, the name “Bitfury: was officially born on February 17th, 2012, when a group of enthusiasts that stood at its origins, was working in its R&D “garage” phase.

“So, on this day, we celebrate the birth of our dream,” Valery Vavilov wrote.

As Vavilov noted, back then few people had really heard of Bitcoin and Blockchain, and very few saw the global potential of this breakthrough technology, and company’s focus was based almost exclusively on processing and securing Public (Bitcoin) Blockchain transactions.

“Now, just five lightning-fast years later, our dreams are coming to life, and we are the world’s leading full-service Blockchain company,” he added.

Presently, Bitfury Group develops and delivers both the software and the hardware solutions necessary for businesses, governments, organizations and individuals to transfer their work to this groundbreaking technological solution and securely move and timestamp an asset using Blockchain technology. Aside from that, the company launched several datacenters across the globe, and provide consulting and analytics to partner companies world-wide. Bitfury offices operate in Amsterdam, Hong Kong, Washington D.C., London, and San Francisco. Recently, the company announced a $30-million deal with China-based fintech company Credit China Fintech.

“Fundamentally, what drives our work is our deep commitment to the belief that blockchain technology can make the world a better, easier and less challenging place for millions of people, businesses, governments and institutions,” Vavilov said.

Last June, Bitfury announced Blockchain Trust Accelerator Initiative, a project focused, among other things, on using the technology to tackle corruption. Another initiative announced in early 2017, dubbed The Global Blockchain Business Council, focuses on bringing together the world’s leading businesses and business leaders to educate on the latest innovations in Blockchain technology and advocate for its goal adoption and advancement.

Bitfury is also active in the former Soviet republic of Georgia, where, aside from several datacenters, it intends to implement a blockchain service for buying and selling land plot property titles, registration of new rights, and registration of deeds and notary certification of papers. Additionally, the company is now preparing to hold the Third Annual Blockchain Summit at Sir Richard Branson’s Necker island.

“The best news is that we are just getting started! We have a lot of work to do, and the coming year is filled with much promise and limitless opportunity,” Vavilov concluded.

ForkLog wishes Bitfury Group a successful and fruitful year.

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