How does Funderbeam use Blockchain?
Funderbeam uses the coloured coin protocol by Chromaway on Bitcoin Blockchain in a parallel manner alongside our internal recording of transactions.
The transfer of Loan Notes, is recorded according to the protocol definition to utilise immutable nature of the Blockchain.
Funderbeam does not offer any support of the use of cryptocurrencies at this time. This is largely due to the AML and KYC requirements as set by our Financial License from the UK FCA.
Funderbeam is still interested and are keeping a watchful eye on the developments in this field, and we see future developments on Funderbeam very possible.