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Bitcoin Startups 2017

Cryptocurrency Start-ups Raising Money Through Initial Coin Offerings

Cryptocurrency Start-ups Raising Money Through Initial Coin Offerings

Here comes the ICO, a wild new way for cryptocurrency start-ups to raise money Talk to a cryptocurrency enthusiast and there's a good chance you'll hear some version of this: It feels a lot like 1999. That's not to suggest that bitcoin and its ilk are the next Webvan or Pets.com, but looking more broadly at the current trend, the analogy makes sense. While bitcoin crossed $2,000 over the weekend and is up by almost 150 percent this year, other digital currencies have rallied even more. Ether has tripled in value in the past month and Ripple 's XRP is up about tenfold. In 1999 we saw the speculative internet IPO. Today, it's the ICO -- initial coin offering. , a digital database for recording financial transactions and other types of deals, are raising money by selling digital "tokens" that can typically be used to pay for goods and services on their platform, or just stashed away as an investment. Thus far in 2017, companies have raised $180 million in ICOs, compared to $101 million all of last year, according to Smith + Crown , a blockchain research, data and consulting group. Often, these are very early projects that are far from generating significant revenue. "We're in a very frothy phase of ICOs," said Naval Ravikant, a Silicon Valley investor and entrepreneur who's also a venture partner at digital currency firm MetaStable Capital. "People are getting caught up in the vision and it's going to take 10 to 20 years to build out. In the meantime, people are throwing money at anything that looks like it has a shot." Interest in cryptocurrencies is reaching the masses. This week, New York is hosting two industry conferences -- Consensus and Token Summit . On Monday, 86 firms from Toyota to Merck joined a group called the Enterprise Etherium Alliance (EEA) to create sta Continue reading >>

Keep An Eye On These Blockchain Startups Throughout 2018

Keep An Eye On These Blockchain Startups Throughout 2018

Keep An Eye On These Blockchain Startups Throughout 2018 {{article.article.images.featured.caption}} Opinions expressed by Forbes Contributors are their own. The author is a Forbes contributor. The opinions expressed are those of the writer. This story appears in the {{article.article.magazine.pretty_date}} issue of {{article.article.magazine.pubName}}. Subscribe I dont usually do lists. That said, seeing the unprecedented success of my previous article and taking into account the number of requests I received for a list like this, I thought this might be a good time for the piece. Then again, maybe it was not so unprecedented after all. In the nine years that bitcoin came to this world, it went from being a humble startup to a worldwide phenomenon that boasts as many as twelve thousand average transactions per hour . This translates to over 99,000 BTC or 1,492,424,505 USD per hour, with each transaction worth an average 6 BTC. When it comes to the world of cryptocurrencies, things progress at a dizzying pace. And speaking of cryptocurrencies, Bitcoin is hardly the only one. Here are a few blockchain startups, each with their own cryptocurrency, that you need to keep an eye on in 2018. Theres no playing it safe when it comes to investing in altcoin. This is an incredibly volatile industry that undergoes extreme levels instability almost on a daily basis. Your investment could literally double overnight, or you could go down big. The trick is to find and invest in a currency that has the potential for becoming the next Bitcoin or Ether. Ark, a new all-in-one blockchain solution available to users, developers and startups, is using the innovative smartbridge system to offer flexibility and power like never before. The actual technology behind the system is way too compli Continue reading >>

Bitcoin: Cryptocurrency Wallet Startup Bitgo Raises $42.5 Million | Fortune

Bitcoin: Cryptocurrency Wallet Startup Bitgo Raises $42.5 Million | Fortune

With a wave of institutional investors expected to enter the Bitcoin game in coming months, safely storing cryptocurrency is becoming a top priority. BitGo , a virtual wallet provider based in Palo Alto, Calif., said Monday it raised $42.5 million in venture capital fundraising as it gears up to service a hoard of new customers. The company helps secure digital assets held by hedge funds, exchanges, trusts, broker-dealers, and other businesses, including CME Group in Chicago and The Royal Mint in the United Kingdom. Founded in 2013, BitGo carved out a niche specializing in multi-signature wallets , which require multiple parties to sign off on a transaction before any digital money moves out of one of its wallets. In a typical setup, a customer holds two of the cryptographic private keys used to authorize transactions, one for active use that can be split multiple-ways among a select group of people and another stored for safe-keeping as a backup; BitGo then uses a third key to cosign transactions. Right now, BitGo works with seven cryptocurrency types: Bitcoin , Ethereum , Ripple , Litecoin , Bitcoin Cash , Bitcoin Gold, and Royal Mint Gold. The company has plans to add more. Theres obviously a tremendous interest and demand for digital currencies, says Mike Belshe, BitGo cofounder and CEO. Weve recognized for long time that blockchains and digital currencies are going to change the way we do finance. BitGo claims that its technology helps facilitate $8 billion in cryptocurrency transactions each month. The company says its wallets account for roughly 18% of the activity on the Bitcoin network. Bitcoin has been on a tear lately, its price increasing more than 1,000% over the year and trading now at around $16,500. Skeptics have cautioned that the spectacular run-up in Continue reading >>

Start-ups Raise Record $1.27 Billion Selling Bitcoin And Other Cryptocoins

Start-ups Raise Record $1.27 Billion Selling Bitcoin And Other Cryptocoins

Fintech start-ups have raised a record $1.27 billion by selling bitcoin and other cryptocurrencies through initial coin offerings (ICOs), the initial public offerings (IPOs) of the digital world, a report has found. Funds raised by ICOs far outstripped venture capital investment in start-up companies, according to the report by equity and research firm Autonomous. It found that the level of ICO investment rose from $26 million in 2014 to the enormous sum of $1.27 billion in the first half of 2017. "The crypto economy is growing outside of traditional venues this has happened before with video game gold farming and virtual economies, but not on such a global scale," Autonomous said in the report. "The culture of the early internet is directly connected to ICOs and investor personalities in the ecosystem." The research firm said that real-world adoption of ICOs, which it called "token launches", was comparable to virtual currencies in video games, "where in-game gold has value only for internal use by players." An ICO is a crowdfunding measure for startups that use blockchain (distributed ledger technology). Rather than seeking investment from venture capitalists or banks and facing all the regulations that comes with this means of investment these startups sell cryptocoins like bitcoin and ether in return for cash. ICOs are similar to IPOs in that they allow an investor to use the software or service that the startup plans to provide. But instead of dealing with investors with a future stake in the company, ICOs deal with supporters of the project, making the investment more similar to a crowdfunding experiment. And unlike IPOs, ICOs aren't subject to regulations. But this could be a cause for concern, the report said. "Unfortunately, many ICOs are fraudulent and intend Continue reading >>

Meet The Hottest Cryptocurrency Startups Simplifying Finances

Meet The Hottest Cryptocurrency Startups Simplifying Finances

Meet the Hottest Cryptocurrency Startups Simplifying Finances One bitcoin is now twice as valuable as an ounce of gold. Pixabay The last time the Internet was so abuzz with conversations about cryptocurrencies was the infamous Mt. Gox incident in 2014 when $480 million worth of bitcoins were stolen by hackers. Then, many didnt realize that the attack was on the company itself and not the blockchain, the backbone on which every cryptocurrency operates. In fact, the blockchain cant be hacked. Today, however, the cryptocurrencies are making a grand comeback and exploding in value. One bitcoin is now twice as valuable as an ounce of gold. Before we take this any further, though, lets establish the obvious: bitcoin is not the only cryptocurrency. There exists a great variety of bitcoin alternatives, the second most popular probably being ether. Cryptocurrencies are simply a form of virtual money created by computer networks. They are regarded as secure of an investment as gold, mostly because they cant be directly devalued or easily confiscated by any government. Besides, digital money like bitcoins or ether can be shunted to another country instantly and effortlessly. The investors are going crazy about cryptocurrency startups because virtual money eliminates the need for banks and enables users to make fast and anonymous transactions at no cost, almost as simple as sending an email. The experts believe that cryptocurrencies are the future of money. If youre struggling to see what the big deal with cryptocurrencies is, meet these seven startups that are sure to strike a sense of awe into you. Founded in 2013, SpectroCoin is an all-rounded solution for Bitcoin. Its philosophy is grounded in the belief that Bitcoin makes peoples financing quicker, more flexible and frictionl Continue reading >>

Meet The 5 Finalists For Coindesk's Consensus 2017 Startup Contest

Meet The 5 Finalists For Coindesk's Consensus 2017 Startup Contest

Meet the 5 Finalists for CoinDesk's Consensus 2017 Startup Contest May 18, 2017 at 10:00 UTC|UpdatedMay 21, 2017 at 22:15 UTC After sorting through hundreds of applications, we're down to the final five. CoinDesk's second annual "Proof-of-Work" startup competition is gearing up to take place in New York at Consensus 2017 next week. There, a select group of up-and-coming blockchain startups will compete for the admiration of our all-star investor board - and $10,000 of no-strings-attached prize money. For those who can't make the event, we're giving a sneak preview of our selections, which, while different in design and implementation, showcase the breadth of the big ideas dominating the sector. Here are the five startups competing in this year's event: Describing Livepeer as a crypto-token protocol for peer-to-peer live video broadcasting, Doug Petkanics, the startup's co-founder, believes the startup could be the "media layer" of a decentralized internet stack. Using smart contracts and the ethereum blockchain , Livepeer envisions itself as a peer-to-peer video platform that uses incentives newly developed with blockchain tech. "Any broadcaster can send a live video stream into Livepeer, and the nodes on the network will take care of transcoding it into the different bitrates and formats necessary to be playable on the majority of devices on the planet, at various connection speeds," Petkanics told CoinDesk. According to its co-founder, the main advantage is that users who run Livepeer nodes will be able to earn tokens for contributing their computing power in exchange for hosting and distributing videos. Health Wizz is a mobile app, allowing its users to aggregate health data from wearables and electronic health records systems. "Your health data is scattered all ove Continue reading >>

A New Marketplace To Bet On Blockchain Startups Is Opening Up

A New Marketplace To Bet On Blockchain Startups Is Opening Up

Bloomberg the Company & Its Products Bloomberg Anywhere Remote LoginBloomberg Anywhere Login Bloomberg Terminal Demo Request Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. A New Marketplace to Bet on Blockchain Startups Is Opening Up BnkToTheFuture to start trading in the second quarter of 2018 More than 50% of major companies could be trading by year-end A new way for accredited investors to put money into blockchain startups is opening up. BnkToTheFuture plans to open a market in the second quarter that will let investors trade equity stakes in companies involved with the blockchain, the transaction-tracking technology that underpins digital currencies like bitcoin. BnkToTheFuture will use a blockchain ledger to keep record of those investments for clients. Its impending market will join a slew of other ways to bet on blockchain startups, including investing in tokens issued by the companies or in various indexes and funds tracking such digital currencies. BnkToTheFuture also competes with the likes of the Nasdaq Private Market, but its focused on blockchain and fintech companies. By year-end, we could have 50 percent of the major companies in the sector on our platform, Chief Executive Officer Read More: All About Bitcoin, Blockchain and Their Crypto World The marketplace debuts just as interest in the blockchain -- a digital ledger for recording transactions in a secure and transparent manner -- is at an all-time high. This year Continue reading >>

Icos Delivered At Least 3.5x More Capital To Blockchain Startups Than Vc Since 2017

Icos Delivered At Least 3.5x More Capital To Blockchain Startups Than Vc Since 2017

Recently, we found that, for 2018, the amount of money being raised by blockchain and blockchain-adjacent companies via traditional VC rounds is on pace to surpass 2017s highs . But despite more than $900 million in recorded venture funding in 2017, and more than $375 million in known venture funding for the first two months of 2018 so far, traditional VC rounds convertible notes seed, angel, Series A, Series B, etc. now pale in comparison to ICOs in terms of dollar volume. Chances are that if youre reading this, youve at least heard about initial coin offerings (better known by their initialism as ICOs). Even if youre not a traditional VC, you may have invested in one. The original aim of bitcoin and most of its many descendants was to up-end a monetary system reliant on central banks and trusted third parties. Its no small wonder that crypto-enthusiasts have devised a way to circumvent the old process of raising capital to fund new projects, which traditionally is deeply embedded in old-school banking culture and trust. Today, well take a look at just how quickly ICOs came to dominate blockchain startup funding and get an idea of the scale of capital inflows into this new funding instrument. ICOs: Fewer deals, but bigger deals than VC For all of 2017 and the first two months of 2018 at the time of writing, Crunchbase data has captured a total of 527 venture capital rounds and ICOs raised by companies in its bitcoin , ethereum , blockchain , cryptocurrency and virtual currency categories. The chart below shows how that population of rounds breaks down between traditional VC and initial coin offerings. At least according to Crunchbase data, thenumberof ICOs raised in the past 14 months is smaller by a factor of almost half than the number of venture capital rounds anno Continue reading >>

Bitcoin Startup Blockchain Taps $40 Million In New Funding

Bitcoin Startup Blockchain Taps $40 Million In New Funding

Bloomberg the Company & Its Products Bloomberg Anywhere Remote LoginBloomberg Anywhere Login Bloomberg Terminal Demo Request Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Bitcoin Startup Blockchain Taps $40 Million in New Funding One of the largest fintech investments since Brexit vote Investment led by Lakestar with Googles GV, Richard Branson Blockchain Raised $40M in New Funding, CEO Says 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 Britains 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 currencys underlying system, include Googles 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 Blockchains 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 e Continue reading >>

35 Superlative Bitcoin Startups You Must Know!

35 Superlative Bitcoin Startups You Must Know!

Here Is A List Of The 35 Companies That Are Leading The Revolution From The Front: Total Funding: $225.4M in 6 funding rounds (as of Aug 10, 2017) A platform where merchants, consumers and traders can transact with digital currency. Coinbase operates exchanges of Bitcoin (BitcoinSign.svg), Ethereum (), Litecoin () and other digital assets with fiat currencies in 32 countries, and bitcoin transactions and storage in 190 countries worldwide. Location: San Francisco, California, United States Total Funding: $151M in 5 funding rounds (as of Nov 21, 2017) Estimated Valuation: $366.67M (Feb 3, 2016) A blockchain technology company that works to accelerate innovation in crypto currencies, open assets, and smart contracts. Blockstream is the leading provider of blockchain technologies, on the forefront of work in cryptography and distributed systems. From fraud to counterfeiting, from security to confidentiality, from accountability to transparency, our mission is to solve problems that undermine trust in todays financial systems. Location: Singapore, Central Region, Singapore Total Funding: $123M in 3 funding rounds (as of Nov 13, 2017) Quoine is a web-based bitcoin trading platform that allows its users to trade virtual currencies for fiat currencies. It also facilitates fiat currency deposits at local banks spanning many international and Asian currencies such as USD, EUR, JPY, SGD, AUD, etc. Headquarter: Atlanta, Georgia, United States Total Funding: $62.15M in 4 funding rounds (as of Dec 6, 2017) Lead Investors: Founders Fund, Aquiline Technology Growth, Index Ventures etc. A global bitcoin payment service provider that builds powerful tools for spending, accepting, and building with bitcoin. BitPay is one of the largest bitcoin payment processors that has started process Continue reading >>

Cryptocurrent: 10 Bitcoin & Blockchain Startups To Watch

Cryptocurrent: 10 Bitcoin & Blockchain Startups To Watch

With deals and funding to bitcoin and blockchain startups down in 2016 ,its clear investors are being far more selective in placing bets in the sector. We define bitcoin and blockchain broadly to include cryptocurrency-focused companies involved in the trading, storing, or usage of cryptocurrencies primarily bitcoin and companies developing industry-specific applications of blockchain technology. At the most basic level, blockchains are cryptographically secured, distributed ledgers, first developedas the underlying infrastructure of bitcoin. For more information on our classifications and definitions, see our bitcoin and blockchain market map . Blockchain. Bitcoin. ICOs. Everyones talking about them, but can you explain what they are and how they work? Download this report for a full explainer. We identified 10early-stage startups (Convertible Debt, Seed/Angel, or Series A) to watch based on recency of funding, quality of investors, and Mosaic , our predictive algorithm that tracks private company health.The companies on our list have all raised funding in the past 20 months. Storj is building a decentralized cloud storage network to improve security and lower costs of storing information in the cloud. Unlike traditional centralized cloud storage services say, Dropbox, Amazon, or Google Storj uses blockchain technology to provide secured peer-to-peer communal storage, which also allows users to rent extra storage space. Select Investors: Google Ventures, Qualcomm Ventures, Techstars Ventures Cambridge Blockchain is developing a blockchain-based identity platform for financial institutions in order to streamline compliance, namely KYC (know your customer) regulations. The firm is working to roll out services for European customers, given the upcoming implementation of Continue reading >>

How To Invest In Cryptocurrency

How To Invest In Cryptocurrency

Blockchain technology has been heating up in the past several months, thanks in large part to the surge in Bitcoin's price since early May. The cryptocurrency skyrocketed from less than $1,000 in March to an all-time high of $4,440 on August 14. Given this meteoric rise, it's no surprise that investors are clamoring to figure out how to break into the Bitcoin marketplace. But there are many other cryptocurrencies (such as Ethereum) and blockchain companies on the stock exchange where investors can funnel their money. However, investing in a cryptocurrency is different than investing in a regular stock. When you invest in a company, you're buying shares of that company and essentially own an extremely small percentage of it. When you invest in Bitcoin or Ethereum, you receive digital tokens that serve different purposes. With Bitcoin, you get decentralized currency that also happens to be partially anonymous. With Ethereum, you get a piece of the power that runs decentralized apps and smart contracts. Trading cryptocurrencies occurs on dedicated exchanges.Larger exchanges likeGDAX, Kraken, Bitfinex, and Geminitypicallyoffer solid volume to trade cryptocurrencies through bank transfers or credit cards.Coinbase is also an option that is growing in popularity thanks to its ease of use and a built-in wallet. But the trade off here is comparatively higher fees. Poloniex is another exchange that offers more than 80 cryptocurrencies for trading, but the catch is you can only use Bitcoins or other cryptocurrencies to fund these trades. There are several paths one can take when deciding in which cryptocurrencies to invest, but a handful of these have risen to the top as the most popular options for investment: Bitcoin:There's a reason you've heard the name Bitcoinall over the fi Continue reading >>

Bitcoin Startups To Watch In 2017

Bitcoin Startups To Watch In 2017

It seems the bitcoin momentum is just beginning, as the cryptocurrency becomes the topic on everyones tongues. Besides the obvious advantages of bitcoin and other altcoins , more significant is the underlying technology blockchain. Simply, blockchain is the backbone on which every cryptocurrency operates, and it ensures integrity and anonymity. This is the true goldmine inwhich bitcoin startups have begun to tap. Blockchain has been seen as a revolutionary concept, and many institutions including banks and now even governments are starting to recognize its value. If you think about it, banks lose more than $216 billion every year due to fraud according to Forbes. Despite all their best efforts to curb online fraud, the numbers only keep getting larger. On the other hand, since the inception of bitcoin in 2009, there has never been a hacker that has been able to penetrate the blockchain. There have been some cases of losses, like the famous MtGox incident in 2014 when $480 million was lost, but that was an attack on the company itself and not the blockchain. Therefore, the blockchain is the real key, and many individuals recognize its potential for growth. Already, there are hundreds of startups built around blockchain technology, and they are making use of it in very innovative ways. The blockchain code is open-source, and anyone can simply download it to their computers, which is why there are so many startups. Most will only use it for cryptocurrency creation, but others have found remarkable uses for it, and these are the ones we should be keeping an eye on this year: Simply referred to as Circle, it is one of the most exciting bitcoin startups since it was started back in 2013. At that time, it was primarily a service where users could buy and sell their bitcoins f Continue reading >>

Ledger Fever: 95 Bitcoin & Blockchain Startups In One Market Map

Ledger Fever: 95 Bitcoin & Blockchain Startups In One Market Map

Ledger Fever: 95 Bitcoin & Blockchain Startups In One Market Map Bitcoin and blockchain companies are popping up in numerous sectors, including financial services, social, intellectual property, and IoT. Bitcoin and blockchain may be moving beyond buzzword status. Funding to the sector has gone from almost no investment in 2012 to over $500M in each of the past two years . Corporations and their venture arms, especially those in financial services , have entered the fray in large numbers, looking to blockchain and distributed ledger solutions to address pain points that include data reconciliation, clearance, and settlement, among other issues. Major global banks and financial intermediaries are working closely with blockchain companies using the new technology to revamp legacy systems and infrastructure. We used the CB Insights database to identify 95 privately held bitcoin and blockchaincompanies and organized them into ten categories, based on each companys primary product, line of business, and/or use case. Our market map includes both bitcoin and blockchain startups.Blockchains are cryptographically secured, distributed ledgers, first developedas the underlying technology for the bitcoin cryptocurrency. Bitcoin companies offer products or services related to the trading, storing, or usage of bitcoin, while blockchain-based companies develop solutions that apply blockchain technology across sectors and verticals. Please note companies often straddle multiple categories. We categorize each company based on its primary use case or most apparent line of business.Bitcoin and blockchain consortia are not included on this market map. Blockchain. Bitcoin. ICOs. Everyones talking about them, but can you explain what they are and how they work? Download this report for a fu Continue reading >>

Bitcoin Startup Rsk To Launch Smart Contracts Sidechain In 2017

Bitcoin Startup Rsk To Launch Smart Contracts Sidechain In 2017

Bitcoin Startup RSK to Launch Smart Contracts Sidechain in 2017 Nov 6, 2017 at 13:00 UTC|UpdatedNov 6, 2017 at 17:45 UTC One of the most-anticipated bitcoin projects is planning a live networklaunch later this year. Revealed in an interview with CoinDesk, startup RSK aims to soon go live with technology that will bring smart contract functionality to bitcoin in the form of an interoperable sidechain. According to RSK co-founder and chief scientist Sergio Lerner, with the formal launch, users will be able to use ethereum-like tools on bitcoin for the first time. As profiled by CoinDesk , sidechains allow for tokens to be traded back and forth between bitcoin and other blockchains with different technical properties. "This will be the mainnet launch of RSK. You'll be able to transfer ... bitcoin to 'smart bitcoins,' the native cryptocurrency of RSK. You'll be able to deploy any contract in Solidity and deploy that using the bitcoin cryptocurrency." There's a catch to that launch timing, however: RSK needs to wait for the Segwit2x hard fork coming up mid-month , which could (if implemented) split bitcoin into two competing tokens. "We're waiting for the hard fork to pass to launch. We don't know which [cryptocurrency] will last. [...] The change is fork conditional. That's a must," he added. The startup says it has additional long-term plans after that, such as adding new "opcodes" - or rules for blockchains that developers can use in their smart contracts - that it has been researching for the sidechain. Lerner also noted the planned addition of "confidential transactions," which would shield some types of transaction data, and on-chain scaling improvements that could expand how many transactions RSK users can make per second. Both of these objectives, he said, could com Continue reading >>

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