[Press Statement] Tembusu Systems and the Greek Connection
A small storm has been brewing around Prof. Yanis Varoufakis' connection to Tembusu Systems and some clarifications are in order. Greek publisher Proto Thema did not try to reach Tembusu Systems for comment at any time, which may explain many of the gaps in their reporting.
Prof. Varoufakis helped to build a key part of the founding strategy for Tembusu Systems towards the end of 2014 and served as our advisor in that respect. We continue to recognise him as our advisor because of his foundational contributions to the company.
His last contribution to Tembusu Systems was in December 2014, and he has not contributed to the company since he made the decision to stand in the Greek general elections.
It has also been misreported that Tembusu Systems is a Bitcoin business. Tembusu Systems develops blockchain technology for commercial applications, including payment systems, remittance and digital wallets. We do not deal with Bitcoins or any existing cryptocurrency.
We are keen to explore working partnerships with corporations and organisations that want to leverage the power of the blockchain for their operations, and can offer solutions that are more secure, more robust and that cost less to run than existing systems.