Sixteen jobs are being created in Bermuda by a digital asset business that is linked to diamonds.

BitCarbon is coming to Bermuda and expects to launch during the first three months of the new year. It is advertising 16 vacancies in Hamilton, and a number of other roles in the US, Europe and Asia.

The business was founded by celebrated American entrepreneur and software designer Cormac Kinney, who has a lengthy track record in successful start-ups and technology-orientated business.

His inventions have been cited in more than 1,500 US patents, and he has launched seven start-ups, with five later being acquired by public companies or investment funds.

BitCarbon has been described as a universal crypto asset, and the company is pioneering several concepts, including an electronic diamond exchange, and fungible diamond commodity, and a “zero-trust, physical, crypto asset that can switch token platforms”.

The BitCarbon website is under development and the company has not yet publicised details of its Bermuda plans.

However, in an advertisement placed in The Royal Gazette yesterday, the company said it was accepting applications for a variety of positions, ranging from receptionist, member support and staff accountant, to chief operating officer, head of training, staff accountant and technical support. A webpage at careers.bitcarbon.com features a full list of positions available, including those based elsewhere in the world.

BitCarbon Holdings Ltd and BitCarbon Technologies Ltd registered as exempt companies in Bermuda, in September and October. Both companies have a registered address at the offices of law firm Walkers Bermuda.

Mr Kinney, chief executive officer of BitCarbon, has been featured in many publications, including Fortune and Forbes. He is the inventor of the heatmaps, which graphically depict financial market information and have been used extensively on Wall Street and beyond since the 1990s.

Among his other achievements he led at team of 70, funded by media tycoon Rupert Murdoch, to build a social network integrated into news publications, that began with the The Wall Street Journal. The company and its technology was later merged into News Corp.

The 47-year-old has been a quantitative and statistical arbitrage portfolio manager and launched software companies and quantitative hedge fund teams. He raised and managed more than $500 million from hedge funds, including Tudor Investment Corporation.

Mr Kinney has raised venture capital from the likes of Intel, Deutsche Bank and Bank Stearns.

He has a Master of Science degree from Carnegie Mellon University, and has lectured at Harvard Business School. He is also the founder of Flont, a company that allows consumers to discover, borrow and buy fine jewellery.

• To visit the website listing the vacancies at BitCarbon go to https://tinyurl.com/ya75ual8