BitFury

BitFury

Expert Rating (3.2/5)
  • LocationSan Francisco, London, Washington D.C., Amsterdam, Hong Kong

Overview

Bitfury Group is a developer and provider of software and hardware solutions required by governments, individuals, organizations, and businesses to transfer digital assets across a blockchain. Bitfury enables customers to access the blockchain safely, securely, easily, and quickly.

The group comprises experts in business, technology, civil society, communications, and security from different parts of the world. It functions under the strong belief that blockchain technology is capable of opening new doors for prosperity and economic opportunity; advancing fresh applications capable of promoting further innovation; spreading opportunity through transparent ownerships and electoral voting; and providing peer-to-peer support at the international level besides driving peer-to-peer economy.

BitFury Offerings

BitFury has the following to offer its customers:

100% Security: BitFury delivers secure public and private transactions across the blockchain through its proprietary hardware and software solutions.

Processing of Transactions: The company processes public and private transactions across the blockchain.

Registry of Property Rights: BitFury has signed a partnership with the Republic of Georgia to create a transparent system of registering property rights across the blockchain. The company plans to sign many more similar projects related to registries of property rights.

Blockchain Analytics: The group has partnered with the Blockchain Alliance, which is based in the US with the intention of tracing and curbing objectionable uses of cryptocurrencies. It has plans to sign similar partnership deals with law enforcement agencies at the global level. Bitfury wants the blockchain technology to fast become mainstream technology so that regulators give it active support and prevent unscrupulous individuals from taking advantage of it for their benefit.

Lightning Network: The group is among the top contributors of development code to the Lightning Network, an industry effort to increase the scalability of blockchain technology. The Lightning Network is a feature that enhances the utility of the bitcoin blockchain by enabling instant micro transactions.

Information Portal: The group plans to launch an information portal that will report blockchain technology news from all over the world in order to help beginners as well as experts to understand and utilize the technology better. The group wants to demystify the technology by providing information in a well-organized manner.

Developer Platform: BitFury provides a platform that makes it easy for developers to create apps for public blockchains.

Platform as a Service (PaaS): This is a Bitfury solution that allows governments and businesses to digitalize assets and transfer them securely on public blockchains. It also serves to utilize blockchain technology to increase the security of sensitive information in databases.

BitFury Team and Employees

The BitFury Group has employed a team of 70 highly qualified individuals from all over the world. The company sells only hardware solutions to businesses that sell online products on its platform.

BitFury has employed such a huge team because the company does not want to rely on third parties for its operations, preferring to do most things in house. The company says that it prefers to do everything fully customised and in house as it eliminates the need to outsource companies. The company makes it own silicon, its own servers, and its own data centers.

BitFury CEO Valery Vavilov said that this customization is essential to meet the company’s requirements. He said that he wasn’t happy with the work estimates given by suppliers from different parts of the world when his company was trying to construct its newest 20mW data center in Georgia. While third-party companies were willing to deliver in five months, the company’s own head of construction agreed to do it in three months and finally delivered in just month. The team had to work 24/7 to meet the deadline, but they did it. For this reason, the company prefers to do everything in house without outsourcing the work to third-party companies.

BitFury also has a research & development team that can design its own data centers and servers.

Technology with Focus on Bitcoin

BitFury is no longer limited just to the bitcoin community. In 2014, the company added experienced executives from VeriFone and Samsung to its advisory board. The company wants to expand beyond the scope of business-to-business hardware markets and industrial cryptcurrency mining. According to the company CEO Vavilov, BitFury is a technology company with a focus on bitcoin.

Future of BitFury

BitFury plans to be part of global movements towards the Internet of Things (IoT) and peer-to-peer technology. As part of this strategy, the company will re-invest the profits it makes in the cryptocurrency industry through BitFury Capital, its VC arm. So far, BitFury Capital has invested in the bitcoin companies GoCoin and BitGo along with Xapo, a provider of cryptocurrency wallets. The company is always exploring better investment opportunities, preferring to invest in projects that are in their earliest stages. The aim is to provide not only funds, but also expertise. The company is interested in innovations involving renewable energy.

Customer Support

The BitFury Group takes customer support very seriously. Those who wish to contact the company can write to any of the addresses mentioned above. Alternatively, they can interact with team members and fellow customers on the company’s social media accounts at Reddit, Bitcoin Talk, Twitter, and Facebook.

Customers can also send an email to support@bitfury.com.

Contact Details

Addresses

  • Amsterdam: Bitfury Holding BV, Herengracht 168, 1016 BP Amsterdam, The Netherlands
  • San Francisco: 456 Montgomery St., Suite 1350, San Francisco, CA 94104, United States
  • Washington: 1440 G St NW, Suite 900, Washington, D.C. 20005
  • London: Level39, One Canada Square, Canary Wharf, London, E14 5AB
  • Tokyo: 6-5-1 Nishi Shinjuku, Shinjuku-ku, Tokyo, Shinjuku Island Tower 5F, Japan

Email

  • sales@bitfury.com – Wholesale inquiries
  • media@bitfury.com – Media/press inquiries
  • investors@bitfury.com – Investor inquiries
  • info@bitfury.com – General Info

AuthorDavid Nugent

David is a forex trader and writer who has spent the last few years giving his opinion and spreading news about oncoming markets and trading tips. Besides from being a trader he is also a lifelong Everton fan and enjoys spending free time watching his beloved team in the premier league.

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