Vault8 Announces Completion of Blockchain for Anonymous Numbered Cryptocurrency Safe Deposit Boxes

NEW YORK - July 2, 2018 - PRLog -- Vault8 announced today it has completed development of its Vault8 Blockchain for use in Cryptocurrency Safe Deposit Boxes and other ledger-based applications and services. This allows for the application of any type of business, bank or commercial entity to work with their varied services. A white label version is being developed so companies can use the blockchain with their own services.

Like IBM & Mastercard, one area Vault8 is targeting is cross-border deposits and withdrawals from cryptocurrency safe deposit boxes. While other companies transmit money in the form of coins or tokens Vault8 does not use them. They are not a money transmitter, the Vault8 Blockchain works independently of cryptocurrency and instead allows deposits into safe deposit boxes by local currency or other tangible goods such as gold or silver.  Cryptocurrency deposits are also made using the cryptocurrency of choice by the account holder. This is done online or through Vault8 Authorized Agents.

The Anonymous Safe Deposit Boxes are part of the Vault8 Distributed Ledgers System (V8DLS). From Vault8 "We are not using an external cryptocurrency and we are not introducing a new cryptocurrency, because that would bring on regulatory & legal challenges. Whichever cryptocurrency is deposited into a safe deposit box is what the box holder uses. If fiat (hard currency or commodity like gold) is deposited it becomes an internal cryptocurrency for ledger accounting only, the Vault8 Token. The Vault8 token carries a set value and is used internally only for ledger entries."

Vault8 is developing a service using its Vault8 blockchain that can be used for payments on Amazon and Google. Further, for casinos, wherein a casino player can make a deposit into their safe deposit box in one country and arrive at a casino in another county, withdraw their box holdings and when they win deposit their winnings back into their safe deposit box. Withdrawing them anywhere in the world. The casino can be on the blockchain to make payouts and receive funds from players.

Using Vault8 safe deposit boxes an individual can open an account anywhere in the world, deposit any type of cryptocurrency or fiat or commodity, transfer it to another box holder's account and they can withdraw it anywhere in the world in any form they select. All done without giving any personal information and is a peer to peer action.

About Vault8.

Vault8 is a virtual company, like bitcoin and other cryptocurrencies it is virtual. The Vault8 website is a portal for the services offered, no cryptocurrency is received or stored through the website, all safe deposit boxes are offline. Vault8 does not buy or sell cryptocurrency; it is not a money transmitter, or exchange. It acts as a digital storage unit while offer several peer to peer services within an account holders area. Risk Free, Peer to peer loans, transfers, exchanges, buying and selling box holdings. Vault8 operates around the globe through its portal website and its network of agents.

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