A Major Breakthrough of Byzantine Bank Technology! The World’s First Blockchain Bank (BZTB) Is About To Be Unveiled

January 29 16:15 2019

The acceleration of globalization promoted the development of a new round of technological revolution and industrial revolution, making the big data, cloud computing, Internet of things, artificial intelligence and other new technology constantly emerging. The Blockchain economic model emerged. It has maintained a good momentum of development with its own characteristics and advantages, which is called the world’s fifth industrial revolution. At present, countries around the world have elevated it to the national strategic level and redefined user relationship, business value, industrial scale, ecological model with the help of blockchain technology.

In recent years, a large amount of capital has poured into the blockchain and a large number of enterprises engaged in blockchain research and application development are springing up. Meanwhile, technical complications and performance limitations, including the “Byzantine(BZT) fault-tolerant mechanism”, are still limiting us.

As a world-renowned organization, Byzantine fault-tolerant mechanism team has been seeking for innovation and breakthrough in blockchain technology. With strong research and development capabilities and a number of core patents, the team has the world’s top blockchain technology professionals and rich experience in the implementation of global projects. Marshall Pease, one of its leaders, said that from the perspective of blockchain, the Byzantine problem needs to be solved by the “Consensus Mechanism”, namely, who should construct blockchain and how to maintain the unity of blockchain. From the point of the development of the current blockchain technology, Byzantine fault-tolerance mechanism is mainly a “Decentralization” style of management, by means of the implementation of the “Democracy” in the blockchain against negative effects produced by “Centralization”, which largely improves the safety of risk control.

A Major Breakthrough of Byzantine Bank Technology! The World’s First Blockchain Bank (BZTB) Is About To Be Unveiled

Based on the above understanding, Marshall Pease and his team took three years to apply the breakthrough technology to the blockchain Bank after numerous tests and experiments and created the innovative “Byzantine Bank”(BZTB), which transformed from theoretical construction to application. As one of the founders of Byzantine fault-tolerant mechanism, Marshall Pease led the team to build the architecture of BZTB, which includes public chain, DAPP and other technologies. At the same time, the Marshall Pease team has partnered with Garanti Bank of Turkey to advance BZTB’s global operations. Founded in 1946, Garanti Bank is the second largest private Bank in Turkey. With outstanding banking franchises and combined assets of more than 456 billion pesos ($76.3 billion), Garanti Bank has a solid foundation around the world. Marshall Pease and his team have long been known as the pioneer and the leader of the blockchain economy. In the cooperation with Garanti Bank, the former focuses on the research and development of technology and the latter focuses on the global operation of BZTB. Currently, Ali Fuat Brbil, president and CEO of Garanti Bank, has invested the project and is responsible for the overall layout and promotion of BZTB. He has extensive experience in retail, finance and human resources. In terms of BZTB cooperation, both sides will cooperate in technology and operation. Focusing on the application and expansion of BZTB economic model, both sides will continuously strengthen research and development from theoretical design to practical implementation and achieve corresponding results.

As the world’s first blockchain Bank, the emergence of BZTB is a brand new result of the dedicated research and development and experiment of Garanti Bank and Marshall Pease in the past three years. It has great market potential and economic value and is expected to lead a brand new business model. It is also a great innovation and breakthrough in the current Byzantine fault-tolerant mechanism. From the technical perspective, BZTB, in combination with AI, has developed a set of mathematical models in the world based on scientific algorithms and has developed a complete Mathematical Engineering. BZTB technology is constructed based on algorithm and it is the first digital economy model to complete the Blending – deposit mechanism on the chain. Deposit the digital assets in the bank on the chain based on cryptography, digital learning and other technical principles, with the global digital assets quantification comprehensive indexes, realize a completely Decentralization and finally obtain the Calculation of Income. From the perspective of the landing application of BZTB, it can realize cross-border assets, foreign exchange transactions and other business transactions related to finance. At the same time, a variety of AI applications can be easily established on BZTB, the cost can be reduced and the value transfer and settlement process can be accelerated, which not only effectively ensures the privacy of users, but also establishes a solid security guarantee on the security and fairness of transactions.

A Major Breakthrough of Byzantine Bank Technology! The World’s First Blockchain Bank (BZTB) Is About To Be Unveiled

The emergence of BZTB is a further innovation and optimization of the existing blockchain application scenarios, as well as a new breakthrough of Byzantine fault-tolerant mechanism. As a new architecture of blockchain technology, BZTB has a set of mature public chain and DAPP technology. At present, BZTB has begun to test and run in some European countries. Israel, Spain, Turkey and other countries have taken the lead in launching trial. We believe that the new type of blockchain bank created by Garanti Bank together with Marshall Pease’s Byzantine fault-tolerant research and development team will be a rising star in the industry. BZTB will establish a more complete Ecosystem platform, establish a benign ecological environment for the healthy development of blockchain in the whole scene and write a new chapter for the application of global blockchain in the field of life.

Media Contact
Company Name: Mbsc.sd
Contact Person: Joe
Email: Send Email
Country: United States
Website: https://www.yshanpay.com

  Categories: