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Blockchain technology specialist eyes international markets

Wallet.Services, Scotland’s leading blockchain specialist, is eyeing opportunities in international markets on the back of a series of client wins in 2018 and its latest funding round.

The company was founded by Scottish technology stalwarts Stuart Fraser and Peter Ferry in 2016 with a vision to address the complexity and security risks experienced in everyday digital life through the application of distributed ledger technology.

Peter Ferry, commercial director and co-founder, said: “We continue to focus on the real world industry problems of our customers. We’re applying distributed ledger technology to enable new ways for organisations to collaborate to create business efficiencies in supply chains whilst cryptographically securing privacy and commercial confidence.” 

Stuart Fraser, managing director and co-founder of Wallet.Services, added: “Distributed ledger technology moved into the mainstream in 2018, with public sector projects building trust and transparency in citizen services and private sector projects reducing timescales for tracking products in transit from a week to just seconds.”

Wallet.Services grew its client base during 2018, with the Scottish Government’s Improvement Service, the national improvement organisation for local government in Scotland, among the company’s contract wins.

It is also experiencing increasing activity in the oil and gas and energy sectors and the company is set to announce major industry partnerships later in the year. The company has built research partnerships with the University of Strathclyde’s Advanced Forming Manufacturing Centre and the University of Edinburgh’s Blockchain Technology Laboratory to ensure emerging academic developments are applied.

The company secured its latest funding round in Q4 of 2018 – led by VC firm Mercia Technology and existing angel investors – to support the development of its award-winning SICCAR software platform.

It is planning to increase its headcount in Edinburgh this year, adding senior and crypto engineers to its existing development team.

Source: FutureScot

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