Bit4id has entered in CherryChain as industrial partner and attended the extraordinary assembly to approve the increase of the share capital of 1 million euros
CherryChain carries out research and development of Distributed Ledger systems for applications to manage electronic payments and smart contracts, using digital identity, cryptography and blockchain. Founded in 2017 by Marco Sittoni, with long experience in the banking sector in Banca ITB and even before as Vice President in Lottomatica and CEO in Banca Sella, and by Carlo Rizzi, professor of Business Organization at the University of Trento, the company is based in Povo (Trento) in the Innovation HUB of the Bruno Kessler Foundation and of the University of Trento.
CharryChain wants to create a platform for the management of payments and contracts with a real application in Trentino and in the surrounding regions, to be expanded later in other Italian regions, in Germany and in Austria.
“One transaction leads to another”
Bit4id has entered in CherryChain as industrial partner and will contribute in the development of its platform. Products and services of Bit4id will be integrated in the CherryChain protocol that “joins operations with one another” univocally and indelibly, keeping track of the events in the payment process, in the management of fidelity programs, in document processes and smart contracts.
On 26th of November, 2019 CherryChain organized an extraordinary assembly with its partners to discuss the increase of the share capital of 1 million euros, approved by Bit4id Group together with:
- Volksbank, the leader bank in Alto Adige with a strong presence in Veneto as well (170 branches and 1300 employees);
- Dolomiti Energia Holding spa, one of the best national Utilities standings for the quality of service provided in the supply of electricity, natural gas and water;
- CAM (Conad-Eurospin group), leader in Italy in large-scale retail distribution.
