Attic Lab and Bank Alliance to build blockchain-based payments system
Blockchain comes to Ukraine
Ukrainian fintech start-up Attic Lab has signed its second deal to implement SmartMoney, a blockchain-based digital money system, at a local bank. This is with Bank Alliance.
The first project – with Alpari Bank – was announced at the start of 2017.
Both projects are similar in nature: to build an infrastructure for e-money processing, in compliance with the national payment system Prostir.
The functionality includes person-to-person (P2P) transfers between mobile wallets, smart contracts, trustless escrow, and joint management of accounts.
“Alliance Bank has become not just our client, but a partner and a fellow thinker in building the financial system of tomorrow,” says Sergey Vasylchuk, CEO of Attic Lab.
“Sources, libraries and APIs will all be open. We plan a sandbox and prizes for the best applications based on electronic crypto-hryvnias [UAH, the currency of Ukraine]”.
Attic Lab was formed in early 2016. Its flagship SmartMoney offering was unveiled later that year, touted by the vendor as a “fully-fledged alternative” to systems like Visa and Mastercard. The system is open source and free.
Pavel Kravchenko, co-founder of Attic Lab, says: “We are looking for international partners who want to launch their own digital asset system. It includes everything – ledger, processing, mobile apps, e-commerce plugin, back office etc – all free.”
