Billion Firm Announces FIS Blockchain Partnership
Today two major companies announced their intention to partner for the further development of blockchain technologies. The first company is called Billion, a fintech firm based in the United Kingdom. The company is known for their interest in developing decentralized blockchain technology aimed at processing fiat and traditional currencies. FIS is their new partner, an information service technology provider based out of the same country.
The two will work together in order for FIS to integrate the Billion fintech architecture for potential integration within the FIS fintech structure on the international stage. Additionally, the two companies are looking into additional transacting cooperation in the field of product development within the fintech sector. The information comes from a press release from both companies, which stated that they were considering the process of working together to create new products to facilitate corporate payments globally.
The partnership represents just the newest example of companies partnering with blockchain organizations in order to renovate and evaluate their own data structures and internal architectures. Even in the United States, companies like Apple has considered partnerships with blockchain and cryptocurrency-based businesses in order to re-evaluate how they do global payment processing and information storage.
Billion Blockchain Tech
The first half of this new partnership, Billion is a UK-based company specializing in blockchain solutions in the financial technology and information technology sectors. The company classifies as a “civilized blockchain” developer. This means that the company seeks to use blockchain distributed ledger technology in order to use it to process traditional, or fiat, currencies. This is an interesting take, especially coming from a community like the blockchain community, which is primarily geared towards the decentralization of asset management processes.
But despite the philosophical differences between the company and many within the crypto-space, Billion has grown significantly, drawing the attention of many notable companies for their innovative application of the blockchain technology and cryptocurrencies to the traditional economic realm. They wouldn’t be alone, either. Massive startup company Ripple also works primarily in the traditional banking sector, despite their use of cutting-edge blockchain technology.
FIS is perhaps the larger of the two companies involved in this new partnership. The company is based in Florida within the United States, but has branches all over the world. In fact, the massive corporation claims to have over 55,000 full and part-time employees in over 125 countries all over the world.
Their specialty is in the industries of banking software and swift processing of payments, two sectors which have benefited greatly in the past few years from the lightning-fast development of blockchain technology. Seemingly interested in grabbing onto the tech being developed by Billion, the company initiated the partnership in an effort to integrate the fintech organization’s ledger technology for their own uses. Specifically, the company has stated that they want to work with Billion in order to “explore joint product development” opportunities, as well as to expedite the processing of payments and transactions within their own growing system.