Old Mutual Gold & Silver Fund buys bitcoin

The organizations has big plans for cryptocurrency
24 November 2017   1116

Representatives of Old Mutual Gold & Silver Fund reported that the company had spent 11 million dollars to buy bitcoin. Experts consider that it’s another victory of decentralized digital money. The Fund possesses monetary resources of 220 million dollars in gold equivalent and now the organization is planning to replace 5% of the whole fund money with cryptocurrency.

Mr Naylor-Leyland doesn’t see any threat from digital money. On the contrary, he supports the idea of using bitcoin by investors. The value of this type of cryptocurrency has been rapidly increasing: from 1000$ to the present 8000$.

Blockchain technology and digital money are the way to solve problems of the trust among business partners and the process of transferring money. The perspective of the interrelationship between stable currency and blockchain is very tempting. It’s not clear yet, if the cryptocurrency will be able to replace sound money but the growing influence of blockchain cannot be minimized.

Lightning Labs to Raise $10M

As reported, the raised funds will be allocated to enforce the team with developers and commercial speciaslists
06 February 2020   251

Lightning Labs attracted $ 10 million investment during the A-series financing round, and also introduced a beta version of its payment service for outlets that work with bitcoin.

If bitcoin is going to reach its potential as a viable global currency, it’s going to need to scale beyond the base layer. Similar to how Visa relieves banks from handling all fiat currency traffic, Lightning relieves the base bitcoin chain from handing all transactions, thus bring more speed and fee efficiency to the network.

 

Brian Murray

Managing Director at Craft Ventures

With the help of the raised funds, the company intends to hire more developers and commercial specialists, so that it will be able to convey the applied solutions to users. In 2018, Lightning Labs unveiled a beta version of its LND scaling solution and received $ 2.5 million investment from several investors, including Twitter CEO Jack Dorsey and Litecoin creator Charlie Lee.

Now a beta version of the new Lightning Loop service has been launched, with the help of which outlets can more effectively manage payment channels and maintain liquidity in them. Several customers have already become interested in this tool, including the developer of the Fold shopping application, which processed approximately 1,600 transactions through the Lightning Network during the holidays in 2019.

We’re growing fast and Lightning Labs’ loop service makes it simple to manage our lightning node’s liquidity, letting our team focus on building out great user experiences that bring lightning to the world.

 

Will Reeves

Fold

According to Lightning Labs, this year the company will be developing tools for working with larger payment channels. We are talking about both individual channels, which individually can hold more than $ 1,500, and multidirectional ones, which break down payments into smaller parts.