Blockchain technology firm BTL Group has provided a progress update and strategic outline for the rollout of its proprietary private blockchain platform ‘Interbit’, in a Beta version during the upcoming third quarter of this year.

After the successful pilot projects in 2016, BTL has been able to set a strategy for the 2017 financial and calendar year.

“We are very proud of what we’ve achieved at BTL to date, which includes getting our Interbit platform to the Alpha state, along with funding in place to support development of the next phase. Having successfully completed pilot projects in the energy sector, and the finance space with Visa, we are more confident in our blockchain technology than we’ve ever been and have a more transparent roadmap for Interbit’s route to market,” Guy Halford-Thompson, BTL’s Co-Founder and CEO, said.

The company said that it is planning to launch a Beta version of the platform with an aim to accelerate Interbit’s go to market strategy, and shift its aim onto enabling key clients to build their own applications on Interbit directly.

Last year, BTL successfully completed pilot projects with major global enterprises in both the finance and energy spaces. In the se pilots, the company has used its Interbit platform for showcasing how it can use innovative processes to vastly reduce the complexity of transactional IT infrastructure, thus reducing risk and costs for enterprises.

“We believe that enabling key clients to build on Interbit will create a growing pipeline of new business for BTL. Having successfully raised CAD$3,105,000 during our latest fundraise completed in April 2017, we have the ability to ramp up our technical resources and expand our teams in both Canada and the UK. By adding the right people to our highly experienced blockchain technology team, our aim is that BTL and our Interbit platform will become a leading technology solutions provider,” Guy Halford-Thompson, added.

Apart from this, BTL Group has also announced that it has filed its audited consolidated financial statements and Management’s Discussion and Analysis for the year that can be found under BTL’s profile on SEDAR and sets forth operating and financial results in detail for BTL.