Skip to main content

Bitcoin Startup Blockchain Taps $40 Million in New Funding

Blockchain, the London-based bitcoin currency service provider, has raised $40 million of fresh funding, representing one of the largest investment rounds in the financial technology sector since Britain’s vote to leave the European Union.
New investors in the company, which provides technology such as virtual bitcoin wallets and analytical tools for the digital currency’s underlying system, include Google’s GV, which led the funding with Lakestar. Existing investors, including Lightspeed Venture Partners and Sir Richard Branson, provided new financing.
“The pace of innovation in the digital currency space is unmatched,” said Tom Hulme, a partner at GV. “We were impressed by Blockchain’s consistent market traction and dedication to building secure financial products for an increasing number of users.”
Bitcoin, and the blockchain system that powers it, is one of several virtual currencies and the value of one bitcoin skyrocketed more than 300 percent in the last year. A competing currency, Ether, based on the ethereum blockchain, reached a record $402 earlier this month.
Blockchain Chief Executive Officer and co-Founder Peter Smith said his company’s new funding was raised before bitcoin and ether’s recent run up. "We did it a few months ago," he told Caroline Hyde in an interview on Bloomberg Television Thursday.
While it has been accepted for legitimate transactions by companies such as Microsoft Corp., Expedia Inc. and social media platform Reddit, it is also a favorite tool for criminals seeking ways of anonymously sending and receiving money, such as during the May WannaCry ransomware attack that affected countless businesses and hospitals worldwide.
In a press release, Blockchain said its new investment will support a wider global expansion and related localization efforts, as well as further research and development for its product.
“The 14 trillion dollar financial services industry hasn’t meaningfully changed in over a century,” said Smith in the release. “Blockchain is on a mission to create a financial system that is faster, more inclusive, and radically different than the status quo.”
Blockchain had previously raised $30.5 million in 2014.
For more information on this story follow the link below:

Comments

Popular posts from this blog

Case-By-Case or Cease-and-Desist? In Search Of a New Approach to ICOs

That rumble you hear is the sound of regulators around the world mobilizing resources to tackle the pressing matter of token sales. Yet, in spite of the spectacular growth of blockchain token-based funding, no one seems to have a clear idea of what type of rules to introduce. The resulting uncertainty (not to mention ridicule) is left hindering progress as money flows to unviable projects and investors are left vulnerable to foul play – exactly what regulation is supposed to prevent. Perhaps a new approach is needed. But to see where this could go, it's worth stepping back and asking what we expect the regulation to do. Safety belt First, why do we need regulation, not just of finance, but of anything at all? To protect us. At its roots, that is the main role of government – to protect its citizens from avoidable harm and extreme loss brought about by others or from our own lack of common sense. When it comes to securities, that usually means stopping us from making poor decisions…

Duncan Logan just tweeted that he's on board Electroneum

I have been a buyer and holder of bitcoin and Etherreum for a long time but this will be the first ICO I buy into--Duncan Logan.

What is Electroneum?

Electroneum (ETN) is a cryptocurrency that can be mined with a smartphone, requiring almost no technical knowledge or prior experience. This sets it apart from other cryptocurrencies (like Bitcoin) which require expensive hardware and technical know-how to mine.
Electroneum’s unique mobile mining experience allows anyone with a smartphone to earn ETN coins by letting the miner app run in the background.
It was designed specifically with mobile users in mind, thereby appealing to a potential market of 2.2 billion smartphone users around the world. Unlike other cryptocurrencies, Electroneum has a user-friendly, beginner-oriented interface that allows users to seamlessly transfer ETN coins between one another, check their balances, and mine coins.
Being a cryptocurrency, Electroneum is created, held, and spent electronically, and has no phy…

Inglourious Basterds Script - Dialogue Transcript

oila! Finally, the Inglourious Basterds script is here for all you fans of the Quentin Tarantino movie. This puppy is a transcript that was painstakingly transcribed using the screenplay and/or viewings of the movie to get the dialogue.

Inglourious Basterds Script(DISTANT RUMBLING) (SPEAKING FRENCH) (MEN SPEAKING GERMAN) (SPEAKING FRENCH) While I'm very familiar with you and your family, I have no way of knowing if you are familiar with who I am. Are you aware of my existence? Yes. This is good. Now, are you aware of the job I've been ordered to carry out in France? Yes. Please tell me what you've heard. I've heard that the Führer has put you in charge of rounding up the Jews left in France who are either hiding or passing for Gentile. The Führer couldn't have said it better himself. But the meaning of your visit, pleasant though it is, is mysterious to me. The Germans looked through my house…