Blockchain builder BTL moves to beta of Interbit platform

Listed blockchain company BTL has launched the beta version of its proprietary blockchain platform, Interbit - a milestone for the firm, which has bases in London and Canada. It brings the platform one step closer to being launched in a live commercial environment. It is currently being distributed to a number of selected partners who will be providing critical feedback.

Guy Halford-Thompson, BTL's CEO, said: "This is the first time BTL clients and partners have been able to put Interbit directly in the hands of their technical teams, rather than through BTL's development team, and marks a major milestone in Interbit's continued development. I would like to congratulate the entire development team on achieving this milestone, as well as the business teams who have supported them."

BTL has also seen interest from a now larger consortium in the "go-to production phase" of its European energy trading project. The "go-to production phase" is designed to build on the success of the recently completed European energy pilot and if it proceeds, will seek to create a live, commercial version of an energy trading solution that will demonstrate significant cost savings that can be applied across numerous areas of the energy sector, added Halford-Thompson.

Dominic McCann, BTL's Executive Vice-President, Sales & Marketing, said: "The level of interest we are now seeing in the go-to production phase is exciting, but we are committed to keeping the group at a manageable level to ensure we deliver the most value within the aggressive timelines we have set."

BTL also said it is preparing patent applications for its Interbit platform, with the expectation that those filings be made by no later than Q4 of this year.