Bitreserve Adds Swiss Franc, Three Physical Commodities

Bitreserve’s Halsey Minor had some interesting comments comparing Bitcoin and Netscape, but his company is chugging right along, today it is adding more stores of value for its users.
Bitreserve is a service that allows customers to use the Bitcoin network and the advantages that entails while holding value in a variety of currencies and other assets. It launched with five fiat currencies and has since added gold. They previously announced that they would be bringing oil to the platform sometime this year. This isn’t that, but it is nonetheless significant. Bitreserve is adding three commodities: silver, platinum and palladium as well as an additional fiat currency – the Swiss Franc – to its service sometime today.
As with gold and the fiat currencies, everything will actually be held by Bitreserve. Users will be able to track what Bitreserve is holding them using the company’s proprietary extension to the blockchain: the Reservechain. The Reservechain shows users when Bitreserve purchased the commodity and how much they paid for it. While there are other services that allow people to buy assets using cryptocurrency, Bitreserve stands out because of it transparency and directness (users are buying backed assets and not ETFs or pegged Bitcoin).

This post was published at Coin Telegraph on 2015-02-11.