The Proof of Trust to list as first blockchain assurance firm on LSE main market

2020-01-17 09:05:00
The firm is developing an “anti-collusion algorithm” designed to enable more effective and trustworthy use of blockchain technology and smart contracts

The Proof of Trust Ltd, a blockchain firm focused on dispute resolution with smart contracts, is planning to list its shares on the main market of the London Stock Exchange.

The company owns the worldwide patent to a protocol that it says will allow “clear dispute resolution based upon smart contracts”.

Smart contracts are digitally encoded agreements between two parties that automatically execute when certain conditions are met. They are designed to reduce the need for intermediaries and make transactions cheaper and more efficient.

The company itself provides an “anti-collusion algorithm” designed to enable more effective and trustworthy use of blockchain technology by ensuring that data on a blockchain used to execute smart contracts is authentic.

Proof of Trust is currently developing the technology in partnership with computing giant IBM (NYSE:IBM) and has already presented its protocol to several government leaders.

The firm added that once the listing process is completed, it will be the only blockchain assurance company on the main market.

"We at The Proof of Trust are excited at the prospect of a full listing on the main market of the company's shares and we look forward to providing investors with the opportunity to share in this groundbreaking project", said Proof of Trust chief executive Dean Armstrong.