Goldfields tech company’s bitcoin service uses its own blockchain for data management
Posted On July 28, 2021
Goldfields is a mobile tech startup that uses its blockchain to store data about its clients’ purchases.
The startup’s software is based on Ethereum, which is a decentralized network and blockchain.
It has been working on this technology for more than two years.
In its latest development, Goldfields’ software is building a cloud service for its customers to track bitcoin transactions.
The company says it’s not selling anything in this way, though it is offering customers a cloud platform that lets them track their bitcoin transactions from within the app.
The new service allows customers to buy and sell bitcoins without having to go to a Bitcoin Exchange.
The service, called Coinify, is based in Australia.
It provides a dashboard that allows customers in Australia to monitor their bitcoin purchases and store the data.
It uses a proprietary blockchain to track transactions, and it does not store the bitcoins in the cloud.
Goldfields CEO John Hildebrand said the company was not offering customers the ability to buy bitcoins directly from a third-party like BitPay, which it uses to buy bitcoin from customers.
Instead, Goldfield is using a cloud-based platform to record bitcoin purchases, and the company has been using the cloud for some time.
“The blockchain is a decentralised data storage system and a platform for people to interact and manage their own data,” Hildebrands told Business Insider.
Hildebrand added that the new service is based around the Ethereum blockchain, which he said allows for “simple and secure data management.”
“We have to be very careful to ensure that there is no centralised control over what data is available to us,” he said.
Bitcoin is a cryptocurrency, and Hildeands’ company is not a bitcoin exchange, but instead offers a service for customers to manage their bitcoins, according to Coinify’s website.
While Hildebeards company is building the cloud service, it also is working to make it easy for other companies to use it.
The service will be available for use by other companies in the future, and customers can request access by adding a “dashboard” link to their Coinify account.
There are other cloud services that also are working to create bitcoin apps for users to use to track their purchases.
Coinify is also using an Ethereum blockchain to run the service, so users will be able to see data about their bitcoin holdings in a way that isn’t available in the traditional blockchain.
Another service, Bitcoin Market, is also trying to build bitcoin apps to track purchases and to track Bitcoin prices.
A third company, Blockchainsmith, is working on a blockchain app to track payments in real time, and Blockchainsign is using an open-source software that lets people send bitcoin payments directly to customers’ accounts.