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IPFS News Link • Bitcoin

Exclusive Interview with Mike Belshe: BitGo and Multi-Sig

• http://bitcoinist.net

How are things over at BitGo currently?

Things are going great! We are continuing our mission to secure the world's Bitcoin and seeing significant progress.

 How are the partnerships between TradeBlock as well as E-Coin going?

All reports are that customers are enjoying the  enhanced feature set, and most importantly, both operations have remained completely secure.

Can you tell us a little bit more about what you and Bitfinex are trying to accomplish in your recent announcement?

The Bitfinex launch represents the arrival of a new generation of bitcoin exchanges.  Prior to this event, users were required to trust that the exchange could safely store coins in pooled wallets.  Today, users can see their Bitfinex bitcoin balances stored separately but directly on the blockchain.  This is great for security because there is no longer a single, large shared wallet, but it is also great because it provides a level of transparency to the user – you can see your own coins directly on the public ledger.

 Bitfinex is the first major exchange to move to the segregated funds model.

 Transparency is accomplished by storing customer funds in separate, verifiable, on-blockchain addresses.  Users do not need to trust that a large pool (like what was used with Mt Gox), has sufficient bitcoins for all depositors.


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