By
Temitope Olatunji
November 1st, 2023
Elliptic has won recognition of the Banker – most trusted magazine in financial industry.
The Banker, world’s leading financial magazine, has announced winners of Technology Projects of the Year. The magazine is read in more than 180 countries and financial experts all over the world consider its opinion to be weighty.
London-based bitcoin analytics company Elliptic is among the lucky winners which was proudly stated in the official website. It was awarded “Security Project of the Year”. Elliptic has always placed security on the top position in the list of priorities. Its team has built a really strong company due to their moto: “Whatever assets you are looking to protect, it’s important that you trust in the people behind the company, as well as the company itself.”
The Banker has got 270 submissions this year. Candidates could try their fortune in such categories as risk management, social media, security, payments, trading, data and some others. The list of winners includes dominant names that have already earned trust and respect: JPMorgan Asset Management, BNY Mellon, Citigroup, OTP Bank, ParFX Prime and BBVA.
The approval of Elliptic means much in the development of cryptocurrencies and blockchain. Its success only enhances trust in bitcoin market. Judges commented on their choice: “Projects such as Elliptic Vault could help make Bitcoin more attractive to relatively conventional or conservative financial institutions that still shy away from this new technology and its security issues.”
James Smith, Elliptic’s CEO and co-founder, explained why they stake on security: “Bitcoin and other blockchain-based assets operate as bearer instruments – if you lose the key, you lose control of the asset. It is, therefore, essential that companies using this technology protect their keys in the most secure way possible. Elliptic Vault provides that enterprise-grade security, giving the user confidence that their blockchain assets are safe.”
Elliptic has been talked a lot recently as it came up with fresh ideas or mutually beneficial partnerships. It hasn’t been long since the company announced the launch of an interactive blockchain visualization instrument that demonstrates transaction history of all bitcoins since its creation in 2009. The new tool, called The Bitcoin Big Bang, will help bitcoin firms to ensure they are working with the cryptocurrency that has not been used for criminal purposes.
In the beginning of July Elliptic said about collaboration with Bitcoin derivatives exchange Crypto Facilities. The teamed work is aimed at separating bitcoin custody from all other exchange functions. With this new measure the companies expect trade in bitcoin derivatives to flourish, improving bitcoin’s price stability and driving enterprise adoption.
