VersaBank announced today that it is developing a blockchain based vault initiative to securely store digital property and has hired Gurpreet Sahota as Chief Architect of Cyber Security. Gurpreet has extensive experience in cybersecurity and is a global leader in this field. He was most recently employed by Blackberry as Principal Architect of Cyber Security. In addition to being a cybersecurity advisor to VersaBank, Gurpreet will head up a team made up of software engineers, experienced in both the development and integrity of cybersecurity solutions, to design a novel blockchain based digital safety deposit box, known as the VersaVault, so that VersaBank’s customers can easily, safely and privately store their digital valuables, including cryptocurrencies, with the security and trust that comes with a Canadian chartered bank.
David Taylor, VersaBank’s President & CEO, stated:
“This is very exciting news! VersaBank is a leader in the profitable application of innovative digital technologies to financial services and has already revolutionized digital lending and deposit-taking. It is now time to turn our attention to building this new Blockchain based product that the world clearly needs.”
“Bitcoin and other cryptocurrencies are quickly gaining popularity and holders have already experienced their valuable holdings vanish from the less secure ‘digital storage’ options. Banks have always been known as the safest place to store physical valuables and it is our aim to make VersaVault the safest place to secure your digital valuables, with absolute privacy.”
VersaBank, formerly Pacific & Western Bank of Canada, is a Canadian chartered bank that was founded in Saskatoon, Saskatchewan in 1980 as a trust company. It later moved its head offices to London, Ontario.