Btltm Files Patents ON Connected Blockchain Platform Interbittm and Underlying Hypervisor Architecture
BTLTM FILES PATENTS ON CONNECTED BLOCKCHAIN
PLATFORM INTERBITTM AND UNDERLYING
HYPERVISOR ARCHITECTURE
For Immediate Release
Vancouver, Canada / London, UK October 17, 2017
BTL GROUP LTD. (TSX Venture: BTL) (“BTL” or the “Company”) is pleased to announce that it
has filed patents on its enterprise blockchain platform Interbit TM. Interbit is a third generation
blockchain platform with unique ‘connecting’ capability developed by BTL after it became
apparent that second generation blockchains would not scale to meet enterprise demands as the
technology matures. BTL confirmed through pre-commercial and confidential beta testing that its
Interbit platform consistently exceeds customers’ requirements in many sectors, including finance
and energy.
“Interbit now has the capacity to operate and inter-connect many thousands of Interbit blockchains
per server in a secure, private, and scalable manner. We realized very quickly that single
blockchain solutions such as current generation two offerings would not allow blockchain
technology to fully realize its transformative capabilities in the years ahead - we needed Interbit
to scale far beyond what already exists in the blockchain space. Our new capabilities clearly
define what generation three blockchains are capable of,” said Tom Thompson, CTO of BTL.
“During our successful pilots we have proven Interbit’s privacy and scalability capabilities,
securing it as a recognized enterprise grade blockchain platform. Interbit has also been designed
for ease of use by customers, allowing it to be integrated into existing IT infrastructure in a quick
and simple manner, not seen before in our industry.”
Interbit allows practical creation of blockchain-based solutions through JavaScript applications.
Designed specifically to address modern enterprise requirements and to position the Company
with an industry leading blockchain solution, Interbit is currently in beta after being in development
over the past two years. The Interbit Hypervisor is Interbit’s underlying architecture designed to
enable “chain-connecting” which allows for multiple, inter-connected blockchains to operate at
scale, while maintaining privacy where required. The patent filings are an important milestone in
BTL’s growth as it clearly defines the Interbit platform’s unique features and is an integral part of
progressing projects with existing and new clients going forward.
“Filing patent applications for the Interbit platform allows us to position BTL as a leader in the
blockchain technology space as it clearly defines our offering as a highly scalable enterprise
blockchain development platform with interoperability embedded. We are very close to delivering
Interbit into a live environment as a product that will leapfrog all existing blockchain technologies.
This will position the Company to meet and exceed the increasingly complex demands for
blockchain solutions across all industries," said Dominic McCann, CEO of BTL. "Blockchain
TM
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technology must meet the security and scalability expectations of the enterprise and be easy to
work with before enterprise adoption will scale. Interbit, delivers on both.”
Scalability & Privacy via the Interbit Hypervisor
The patent pending Interbit blockchain platform and its underlying Hypervisor architecture
addresses scalability and privacy, two key challenges that blockchain technology faces in order
to make it relevant to enterprise, as follows:
1. The Interbit Hypervisor architecture enables thousands of Interbit blockchains per server
to operate and connect efficiently with one another.
2. Connecting Interbit blockchains will allow:
a. solutions to scale horizontally, targeting combined network throughput rates in the
hundreds of thousands of transactions per second;
b. solutions to hold enterprise scale data volumes targeting the petabyte range; and
c. networks of blockchains to communicate with one another directly.
3. The Interbit Hypervisor was built from the ground up to address one of the main challenges
for blockchain technology: ease of use. Developers use familiar tools and languages when
building on Interbit.
4. Written in pure JavaScript, the Interbit Hypervisor runs natively in modern browsers
allowing direct access to Interbit blockchains without needing to first connect to a server
– the browser becomes one of the nodes.
ABOUT BTLTM AND INTERBITTM
Listed on the TSX Venture Exchange (TSX Venture: BTL) and operating from both Canada and
the UK, BTL is an enterprise technology platform provider that is developing Interbit, a proprietary
third generation blockchain platform. Via Interbit, BTL can help companies greatly reduce risks
and costs by securely streamlining existing IT infrastructures. BTL has successfully demonstrated
how Interbit can innovate and transform existing business processes for leading companies in the
finance, energy and gaming sectors.
Interbit is a fast, private, and scalable inter-connected blockchain platform. Via its suite of APIs
and smart contracts, Interbit allows businesses around the world to improve efficiency in trading
and operations, accelerate development of internal systems, and embrace new revenue
generating opportunities, while providing the high levels of security, resilience and auditability
required in regulated enterprise environments.
With offices in Vancouver and Calgary, Canada and London, UK, BTL is positioning itself as a
front-runner in the blockchain ecosystem, partnering with and enabling enterprises on Interbit in
order to improve their existing IT systems.
Website: www.btl.co
Twitter: https://twitter.com/blockchainltd
Videos: https://youtu.be/YFOH0YEHLak and https://youtu.be/V614_0UtHws
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For further information about BTL and Interbit please contact:
Angus Campbell, Inquiries
Phone: +44 (0) 20 7100 0850
Email: [email protected]
Dominic McCann, Chief Executive Officer
Phone: +1 855 256 5246
Email: [email protected]
Certain statements in this release are forward-looking statements, which include further
development of BTL’s business relationships and business, the success of BTL’s patent
applications, the development and success of BTL’s technologies and products, and other
matters. Forward-looking statements consist of statements that are not purely historical, including
any statements regarding beliefs, plans, expectations or intentions regarding the future. Such
information can generally be identified by the use of forwarding-looking wording such as “may”,
“expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or
similar variations. Readers are cautioned not to place undue reliance on forward-looking
statements, as there can be no assurance that the plans, intentions or expectations upon which
they are based will occur. By their nature, forward-looking statements involve numerous
assumptions, known and unknown risks and uncertainties, both general and specific, that
contribute to the possibility that the predictions, estimates, forecasts, projections and other
forward-looking statements will not occur. These assumptions, risks and uncertainties include,
among other things, the state of the economy in general and capital markets in particular, the
development of competitive technologies, the marketplace acceptance of BTL’s technologies and
products, as well as those risk factors discussed or referred to in BTL's annual Management's
Discussion and Analysis for the year ended December 31, 2016 available at www.sedar.com,
many of which are beyond the control of BTL. Forward-looking statements contained in this press
release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this
press release. Except as required by law, BTL disclaims any intention and assumes no obligation
to update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise. Additionally, BTL undertakes no obligation to comment on the expectations
of, or statements made by, third parties in respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.