Blockchain has raised $40 million of funding

Blockchain once again attracted investments
22 June 2017   1948
Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks.

One of the most popular online bitcoin wallet  company has announced the completion of a successful series B funding round by raising $40 million. This is one of the largest investment rounds in the financial technology sector since Britain’s vote to leave the European Union.

About Blockchain

Blockchain is one of the oldest virtual currency businesses in industry. Founded in 2011 as an open-source project, now it is one of the biggest companies on the market. The platform had issues around 15 000 000 bitcoin wallets in over 140 countries. 

Investments

List of investors: Lakestar with participation from GV (formerly Google Ventures), Nokota Management, Digital Currency Group and existing investors Lightspeed Venture Partners, Mosaic Venture Partners, Prudence Holdings, Virgin, and Sir Richard Branson (Virgin Group).

We were impressed by Blockchain’s consistent market traction and dedication to building secure financial products for an increasing number of users. 
 

Tom Hulme
General Partner, Google Ventures

New capital

Investisions will support global expansion and localization efforts as well as research and development of emerging digital assets.

The 14 trillion dollar financial services industry hasn’t meaningfully changed in over a century. Blockchain is on a mission to create a financial system that is faster, more inclusive, and radically different than the status quo.
 

Peter Smith
CEO and Co-Founder, Blockchain 

Back in 2014, the company raised $30.5 million. That was the largest investment in the digital currency industry at that time. 

DFINITY to Postpone Internet Computer Launch

The project is currently assessing the time frame for the completion of the MVP
14 December 2018   88

The blockchain project Dfinity reported in its blog postponing the launch of its main product.

Previously, Dfinity chief scientist Dominic Williams said that his company intends to create an “Internet computer that will become cloud 3.0”, compete with Google Cloud and Microsoft Azure, and also change the face of the blockchain industry.

According to him, the project team is developing a technology that has 150 higher performance than Ethereum blockchain and 900 times - Bitcoin. In essence, the project creates a “giant Internet computer”, whose work will be supported not by one company, but by all participants of the Dfinity protocol.

Initially, the release of a minimum viable product (MVP) was planned for the first quarter of 2019. However, according to company representatives, working on a trimmed version may slow down progress in creating a complete product.

The project is currently assessing the time frame for the completion of the MVP. Also, noted in Dfinity, before the end of the first quarter a new set of development tools (SDK) will be released, which will shed light on the future plans of the company.

In August, the Dfinity Foundation attracted $ 102 million of investments in the framework of a closed tokensale. Prior to this, at the beginning of the year, the Dfinity Foundation raised $ 61 million from Andreessen Horowitz and Polychain Capital.