ChronoBank Partners with Emercoin, Crowdfund Now Accepting EMC

The time-based cryptocurrency initiative will be working closely with the Emercoin team across a number of key areas.

ChronoBank, a blockchain-based initiative aimed at disrupting the short-term recruitment sector, has announced a partnership with cryptocurrency platform Emercoin (EMC) across several areas of shared interest. Additionally, Emercoin will consult with ChronoBank concerning advanced financial instruments.

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Emercoin was launched in late 2013. It offers a blockchain platform for different services, including an alternative domain name system, a distributed torrent tracker and a number of other applications.

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Sergei Sergienko, CEO, ChronoBank
Sergei Sergienko, CEO, ChronoBank

“ChronoBank recognises the contribution that Emercoin is making to the blockchain infrastructure that will in future underpin many varied applications, and looks forward to leveraging that knowledge and capability for our own business,” commented Sergei Sergienko, CEO of ChronoBank.

ChronoBank is now also accepting the EMC currency as part of its crowdfund, with the stated intention of holding it on a long-term basis and working together to bring greater value to it. “EmerCoin’s team is very happy to see a company as serious as Chronobank evaluating our technologies and deciding to implement so many of them at once,” says lead developer Oleg Khovaiko. ‘We have always intended this kind of application – many business-ready services integrated on a single blockchain. We expect that the use of these technologies and services by Chronobank will increase the security and usability of their service.”

ChronoBank will be working with three separate elements of the Emercoin platform: emcSSL, a scalable infrastructure for passwordless authorisation of web services where certificates are created locally, with the blockchain acting as a decentralised trust store for hash sums; emcSSH, which provides a bridge between OpenSSH and the Emercoin blockchain, allowing for secure and decentralised management of public key infrastructure (PKI); and emcDNS, a service that enables the storage of universal name-value pairs on the blockchain, in broadly the same way that NameCoin does (though without the specialisation on .bit extensions).

“Working with Emercoin to implement and further this suite of blockchain-based technologies will put ChronoBank in a very strong position to decentralise our infrastructure and provision of our services to the greatest extent appropriate – with benefits for up-time, security and confidence,” added Sergienko.

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