Stash Inc is pleased to announce the launch of its new business venture based on the Open-Transactions financial cryptography platform. The new business is set to disrupt the financial technology industry, both for Bitcoin and for traditional currencies, by removing the need to trust certain intermediaries. Stash Co-Founder and CTO Chris Odom claims that their software “solves the Mt.Gox problem” by eliminating the need to store user funds.
“Services running our software will be incapable of stealing or losing customer funds,” said Odom, “because they will never receive nor store those funds in the first place.”
Stash CEO and Co-Founder Cliff Baltzley said,
“We expect our software to create new competitive pressures because it changes the economics. Not only do customers prefer services they don’t have to trust, but insurance costs will also be reduced due to the lower liability.”
Standard features of Stash’s platform include unforgeable receipts, smart contracts, recurring payments, untraceable cash, bid/ask exchange, Bitcoin integration, off-blockchain transactions, and currency issuance onto the blockchain. Baltzley added, “Our small but dedicated team of financial cryptography experts are poised to help change how the world of money operates, giving unprecedented financial autonomy to all end users.” Odom and Baltzley aren’t strangers to software cryptography.
Odom is also the co-founder of Monetas, a Swiss firm focused on mobile payments in Africa, and Baltzley is the founder of the pioneering secure email provider Hushmail. Stash Inc is currently exploring capital investment opportunities with qualified investors. Funds will be used for specialized software developers and engineers, plus operations.