iCash Delivers It’s Proof of Trust Protocol, to Bring Trust and Assurance to Blockchain and Announces Token Offering


HAMILTON, Bermuda–(BUSINESS WIRE)–iCash has launched its Proof of Trust (‘PoT’) protocol and initial token
sale offering (TSO). The PoT protocol creates the ability to add an
assurance and validation layer to blockchain transactions and is
designed to increase trust and confidence in the system, paving the way
for institutional adoption.

The attraction of blockchain is that information is stored in an
immutable ledger, without the need for a central authority or
intermediary. However, there have been very few solutions to the
challenge of validating the trustworthiness of data entered onto the
blockchain. iCash’s solution is a PoT protocol that allows for processes
to assure and insure the validity of smart contract inputs and outcomes.

Commenting on the launch, CEO and Founder Will McDonough, said
“Industries are being transformed as they conduct business on the
blockchain via smart contracts. Developing checks and balances for
validation of those transactions has been a problem for blockchain users
and large corporations, until now.”

“While Proof of Work and Proof of Stake provide distributed trust for
data storage, the introduction of Proof of Trust provides distributed
trust and assurance for data input to the blockchain. The future belongs
to innovators, and iCash’s underlying technology aims to
institutionalize the blockchain, and protect those who transact from
being victims of incorrect or nefarious data inputs on the blockchain.”

PoT can be applied to any live verifiable event involving a smart
contract in sectors such as: trading in commodities, currencies,
cryptocurrencies, sports and wider asset management activities. iCash,
through its protocol, enables the filtration and appeal of smart
contract outcomes at scale and across ledgers. Fast, incorruptible
appeal and settlement are achieved via a community of delegates, which
validates and audits the trustworthiness of data inputs and outcomes.
iCash uses a reputational algorithm designed to track and rank the
trustworthiness of its delegates over time and only the most trustworthy
delegates are able to validate data inputs, and thus earn iCash.

PoT increases the scalability of smart contract input verification and
execution on the blockchain. The iCash technology team is currently
focused on the Ethereum, EOS, and NEO blockchains, but are also
developing the platform to work across all blockchains. The opportunity
set for iCash’s implementation is global, and the firm has to date
secured 70 patents in 100 countries.

iCash’s management team has a successful record of building businesses
in emerging technology and institutional finance. Its leadership
includes CEO Will McDonough, who previously led the $825 million IPO for
Atlas Mara on the London Stock Exchange with co-founder and former
Barclays CEO Bob Diamond, as well as CIO Magnus Sigurdsson, who
developed asset allocation strategies for a $7 billion portfolio at
TIFF, the not-for-profit organisation, and global macro at 55
Institutional. The Company’s President Jonathan Malveaux is a JD/MBA
with 25 years of experience in Asia working internationally for
Panasonic, Deutsche Bank, and Credit Suisse. The Company’s Chief
Operating Officer and Chief Compliance Officer previously served as Risk
Management Officer at the $75 billion State of Massachusetts Pensions
Reserve Investment Board (MA PRIM). iCash’s Chief Economist Max
Fraad-Wolff was also among the first Wall Street analysts to value
LinkedIn, Facebook, Twitter, and AliBaba.

NOTES TO EDITORS

About iCash

iCash is a revolutionary company dedicated to bringing trust to the
blockchain. iCash’s Proof of Trust protocol assures the validity of
Smart Contract settlements. Blockchain ensures that information is
immutably stored without a central authority, but not enough attention
is paid to the negative impact when an input to the blockchain is not
trustworthy. iCash introduces the Proof of Trust (PoT) protocol as a
multi-platform protocol that enables real-world inputs to be validated
by decentralized participants in settling Smart Contracts. While Proof
of Work and Proof of Stake provide distributed trust for data storage,
the introduction of PoT provides distributed trust for data input. PoT
uses a reputational algorithm and known participants to provide
real-world validation without sacrificing technical efficiency. With
this, interactions and events can be trusted & verified before being
entered into the blockchain.

iCash is made up of executives, academics and entrepreneurs with
hundreds of years of experience in public and private companies—with
hundreds of billions in market cap including: BlackRock, Goldman Sachs,
Electronic Arts, General Electric, State of Massachusetts Pension Fund,
Uber, and more. The world-class leadership team with over 70 patents and
trademarks across 100 countries position iCash to be a truly global
token protocol.

The company’s team is led by founder and CEO, Will McDonough who has
built and scaled multiple public and private companies, managed the
private capital of the Partners of Goldman Sachs, and later co-founded
London Stock Exchange listed Atlas Mara, alongside former Barclays CEO
Bob Diamond.

McDonough is also a founding member of the Blockchain Commission for
Sustainable Development, an organization that supports the United
Nations’ ability to integrate blockchain technologies in meeting
Sustainable Development Goals.

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