CoinSpark 2.0 Taps Blockchain Tech for Notarized Messaging Service

CoinSpark has released a new version of its protocol that allows users to send private messages tied to bitcoin transactions, effectively allowing its technology to be used for more commercial, notarized transactions.
The second major update from the asset transfer protocol launched in September, CoinSpark 2.0 will enable a broad range of applications based on the ability for two parties in a bitcoin transaction or asset transfer to record its purpose.
Gideon Greenspan, CEO and founder of Coin Sciences, the company behind the platform, described the upgrade as a way to provide bitcoin with the capabilities of more traditional payment systems such as PayPal and SWIFT when it comes to facilitating commerce.
Greenspan explained:
‘Every payment system has a way to attach information with payment, so if you’re sending money, you have the opportunity to explain if this is payment for a contract or it’s investment in a company. That’s kind of necessary or the recipient might not always know what the purpose of a transaction is, and that’s something that’s always been missing from bitcoin.’

This post was published at Coin Desk on February 26, 2015.