The Secure p2p Multi-asset Wallet and Exchange
Marketing and Business Development
Press Release
For Immediate Release
contact: tyrone at silentvault.com
SilentVault Begins Silencing the Blockchain
25 August 2014 - A new service became available today from SilentVault.com. The virtual enterprise has developed an asset transfer and exchange technology that makes it possible for holders of Bitcoin to silence the blockchain. The technology may be downloaded as a web-based application or a Spark application. To use the service, a bitcoin wallet user transfers a minimum of 0.02 bitcoin to their SilentVault wallet where it appears as "Silent Bitcoin." Thereafter, payments to other SilentVault wallets, exchanges to other asset types, or transfers out to any other bitcoin wallet take place without any further entries to the blockchain for the originating bitcoin.
"You can bring bitcoin in and arrange to spend it back out, any time, anywhere. Once you have assets in your SilentVault wallet, you can use it to make person-to-person payments to other SilentVault wallets, offer or accept exchanges for other supported types of assets, or redeem your vouchers. We are developing a market place system that will integrate payments with business activities," says Justin Turrell, technology lead for the SilentVault team.
Marketing and business development lead Tyrone Johnson says, "Why not park your bitcoin and silence the blockchain? Within the SilentVault system there is no ledger of transactions. So while you make payments with your Silent Bitcoin and those who receive your payments use their Silent Bitcoin to make further payments, nothing is registered on the block chain. No transaction, including an internal voucher asset to voucher asset exchange, generates an entry on the blockchain. Only when a bitcoin is exchanged out to a bitcoin wallet destination does any new information show up on the blockchain. If you value your privacy, you'll prefer a silent blockchain."
"We created SilentVault," says lead of operations paesean, "because privacy and anonymity are important aspects of freedom. We're interested in making a better world with more freedom. We hope you'll join us."
Those interested in creating a new SilentVault wallet can head to our web site at SilentVault.com for detailed instructions, tutorials, and FAQs.
What Is SilentVault?
SilentVault is a new technology developed to provide for peer-to-peer payments and exchanges with anonymity among a growing variety of asset classes. SilentVault is a wallet application which allows the user to bring in Bitcoin or Litecoin, spend them as Silent Bitcoin or Silent Litecoin, and thereby silence the block chain on their original crypto-coin. Other currencies have been developed into SilentVault assets, such as Silent Silver.
Who Is Behind SilentVault
SilentVault is a virtual enterprise operated by technology and business professionals with a total of five decades experience in digital currency systems. The user agreement for all users of SilentVault, including the SilentVault team members, prevents us from disclosing names, addresses, and other particulars, unless the users give permission. The people behind SilentVault are paesean as operations lead, Justin Turrell as technology lead, and Tyrone Johnson as marketing and business development lead.
When Is SilentVault Available?
The SilentVault system is operational today. Simply visit our site to learn how to create a new wallet.
When Is it Okay to Discuss SilentVault
The service launch press release for the general public goes out on Monday 25 August 2014, but you can start talking about us, now. We aren't trying to "embargo" this news. Feel free to express yourself - we do.
Where Can I Learn More?
The best place for more information is SilentVault.com where we have extensive tutorials, including screen shots, to help with the basic technology. Much of our work involves Voucher-Safe technology, so additional resources, including video tutorials, are available at Voucher-Safe.org. Users interested in integrating their SilentVault wallet with payment acceptance systems should examine OnionPay.to.
Why Silence the BlockChain
Bitcoin, Litecoin, and other blockchain-based crypto-currencies are useful tools. However, the blockchain tracks every exchange. Why not park your bitcoin and silence the blockchain? Within the SilentVault system there is no ledger of transactions. So while you make payments with your Silent Bitcoin and those who receive your payments use their Silent Bitcoin to make further payments, nothing is registered on the block chain. No transaction, including an internal voucher asset to voucher asset exchange, generates an entry on the blockchain. Only when a bitcoin is exchanged out to a bitcoin wallet destination does any new information show up on the blockchain. If you value your privacy, you'll prefer a silent blockchain.
How Does It Work?
You can find extensive tutorials for starting a new SilentVault wallet on our web site. Using Voucher-Safe technology, any published asset can be used in voucher form to make payments or conduct exchange operations. Any user can make payments, receive payments, keep receipts, delete their own transaction data, make exchange offers, accept exchange offers, and redeem vouchers for assets such as Bitcoin, Litecoin, silver, and where individuals are willing, fiat currencies. In other words, SilentVault works much like cash and other anonymous forms of payment.
Just in from Justin Turrell:
Dark Wallet is a technology which pairs bitcoin spends of similar amounts amongst their customers, and co-mingles their coins together before sending them to the payee, in order to make the payments harder to trace on the bitcoin blockchain. In this respect it's something like a coin laundry, except that the function is made part of the act of making a bitcoin payment, instead of a separate optional step.
SilentVault's approach is superior to this in several ways:
1. Our payments do not take place on the blockchain at all. The only footprints are when blocks of coins are transferred into or out of SBC (Silent Bitcoin). It is impossible to know (from bitcoin's perspective) what the velocity of SBC is internal to our network. Therefore the longer a particular coin sits in our reserve, the greater the likelihood that it has been spent many times before being withdrawn by the user who redeems their SBC voucher for SBC and claims that coin.
2. Our system supports more than just bitcoin. We also support litecoin and our own currency, Silent Silver (SSV). Additional issuers are contemplated for gold, USD, EUR, and CAD. We could also adopt additional alt-coins, including those from Ethereum, Mastercoin, Ripple, etc. All of these different types of assets co-exist in the same wallet.
3. Payments do not require another user making another payment at about the same time, in order to provide enhanced privacy for both users. A single user can make a private, off-chain payment which only the payee will ever see.
4. Because vouchers are destroyed in every transaction, and replaced with new vouchers bearing fresh serial numbers, it is not possible to track the flow of money, for any of the asset types. This is digital cash without a public ledger.
Hello. I'm Tyrone Johnson. My role in the SilentVault business is to work as marketing and business development coordinator for the firm. My background includes both education and experience in the areas of marketing and entrepreneurship which are suitable to my role.
If you have questions, please feel free to make inquiries directly to me at tyrone at silentvault.com using the PGP public key below.
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