Medici Ventures invests into Caribbean company Bitt

The subsidiary of the well-known online retailer Overstock invests three million USD in the blockchain oriented company Bitt (Barbados)
19 March 2018   231

This move will provide the company an essential growth in ownership (by 8.6 percent).

Bitt was founded in 2015 in Barbados as a mobile payment platform for the Caribbean market. Then the company developed its own digital system of commerce based on blockchain technologies. Medici Ventures had already made a significant stake in the company in 2016 (it invested 4 million US dollars). This year Bitt had made its version of digital Barbadian dollar on the bitcoin blockchain.

Bitt started a partnership with Montserrat (the Caribbean island) in February, 2018 in order to introduce its platform for digital payments in this region. With the help of smaller economies, struggling with the liquidity and the financial institutions (such as the ones in the Caribbean), it is not difficult to observe the way how 

blockchain-based alternatives would be able to change the current situation. The company is making possible the purchase of services or goods using digital version of currency that can be accessed and transferred through a mobile application.

The President of Medici Ventures and the CEO of Bitt are both rather optimistic about this investment. Jonathan Johnson (Medici Ventures) finds Bitt`s new technologies progressive and useful and Rawdon Adams (Bitt) is thankful to Medici Ventures for the great support in their mission.

The division of Medici Ventures, based in 2014 had made a substantial contribution to the development of the blockchain technologies. In November, 2017 its another subsidiary - tZero started the run of an initial coin offering (ICO). Nowadays Medici Ventures has got an investments` portfolio that includes nine different organizations whose activity is connected with the blockchain technology.

Consensus 2018 summit to be held in New York City

4th annual blockchain technology summit - Consensus 2018, will take place in New York City on May 14-16
22 April 2018   37

CoinDesk has announced its 4th annual blockchain technology summit Consensus 2018 on May 14-16 at the New York Hilton Midtown. Along with the discussions on the blockchain technology, the event is going to feature a hackathon, PoW pitch competition and a scholarship award in a partnership with Zcash. Title sponsors of the event include bloq, Deloitte, Ledger, Octagon Strategy and SONM.

Consensus 2018 will feature 250+ speakers and 4,000+ attendees from the leading industry startups, investors, financial institutions, enterprise tech leaders, and academic and policy groups who are building the foundations of the blockchain and digital currency economy. Among the notable speakers there will be Blockstack co-founder Dr. Muneeb Ali, J.P.Morgan blockchain program lead Amber Baldet, eToro CEO and founder Yoni Assia, Hyperledger executive director Brian Behlendorf, ConsenSys founder Steve Cerveny, Athena Capital founder Meltem Demirors and many others.

The full 3-day agenda of the event can be found here.