Former Securities Industry CFO Launching Blockchain-Based OTC Equity System

TORONTO - May 27, 2015 - PRLog -- A former securities industry CFO is working with a team of blockchain software developers in a bid to revolutionize the over-the-counter (OTC) securities market. Their product, called “Equibit”, is promising to deliver the same benefits of decentralized transaction processing first introduced by Bitcoin to the securities industry.

“Equibit lays the foundation of a whole new securities market” explained Chris Horlacher, Managing Partner at Equibit. “It allows investors and issuers to come together and manage their relationship without the need for third parties such as transfer agents and central depositories.”

The Equibit platform will allow issuers to easily maintain equity across a broad base of investors as well as distribute earnings via instant and automatic bitcoin transfers. The system can also handle the entire process of polling shareholders in an entirely transparent and auditable manner. These features are delivered through an easy-to-use client program providing a significant leap forward in the security and transparency of traditional OTC markets.

Mr. Horlacher has been working on the idea for quite some time, stating: “When I first took notice of Bitcoin in 2010 I was quickly inspired to come up with a securities system based upon the same technology. The timing just wasn’t right back then though to be introducing something like this. Now that Bitcoin contains several billion worth of capital and investors are getting comfortable with the technology, the market is finally ready for an efficient way to invest with and in cryptocurrency.”

The group has recently published a website and full whitepaper (available for feedback and discussion) detailing the fundamental operations of the proposed Equibit system; and they’re looking for investors to help them meet their planned January 1, 2016 launch date. Those interested in learning more can do so by visiting their website at: www.equibit.org.

About Equibit LP
Equibit is a blockchain-based securities register allowing for efficient management of OTC equity, warrants, partnership units, and more. The program includes a shareholder communications system, as well as the ability to easily issue bitcoin-denominated dividends and distributions to holders of equity; jobs typically performed through transfer agents and central depositories at great cost to issuers and brokers.

About Chris Horlacher
Chris is an expert in business strategy, transformation and process improvement. Over the course of his career he has been instrumental in numerous successful multi-million dollar start-ups and strategic initiatives. He is a consultant to SME's and large enterprises in the realms of finance, accounting, operations, tax, regulatory compliance, technology and risk management. Chris possesses Chartered Accountant and Chartered Professional Accountant designations and is certified by the Canadian Securities Institute as a partner, director, and Chief Financial Officer.