Blockchain-based banking backend Vault OS from ex-Googler emerges from stealth mode

[icarusfoundyou]

[quote]Despite holding the vast majority of the world’s wealth (or perhaps because of that), banks aren’t exactly hotbeds of cutting-edge tech, often relying on decades-old systems for everyday tasks. ThoughtMachine, a company led by ex-Google engineer Paul Taylor, is looking to change that with a modern, fully integrated, blockchain-based banking operating system called Vault OS.

The bombastic press release announcing the system’s emergence from two years of stealth development makes a lot of promises: the company “has solved the greatest challenge in fintech;” Vault OS is “100% future-proof,” “hugely flexible,” and “fixes broken banking forever.”[/quote]

[quote]The main job of Vault OS is to perform the core function of a bank: essentially, maintaining a huge ledger. That’s something that a blockchain is uniquely suited to doing, of course, a fact that clearly did not escape Taylor, whose previous work led to the speech recognition software used by Google today.[/quote]

source: [url]https://techcrunch.com/2016/07/13/blockchain-based-banking-backend-vault-os-from-ex-googler-emerges-from-stealth-mode[/url]

[Rimbas]

Sounds like using Bitcoin protocol to transfer actual money with OS syscalls