Venture Capital Fund to Become First to Issue Own Digital Tokens

  • Photographer: Alessia Pierdomenico/Bloomberg via Getty Images

    Blockchain Capital LLC , which backs startups that use the technology best known for supporting bitcoin, plans to raise a new $50 million fund partly by issuing its own digital tokens, becoming the first venture fund to do so.

  • The San Francisco-based company seeks to raise a portion of its third blockchain fund through an initial coin offering, or ICO, of  tokens and the larger part from traditional venture-capital investors who typically contribute a minimum, Managing Partner Brock Pierce, who is also chairman of the Bitcoin Foundation, said in an interview.
  • Up to now, ICOs have been limited to startup entrepreneurs, who raised about $270 million last year from coin offerings and crowdfunding, according to blockchain researcher Smith & Crown.
  • Venture-capital firms’ investments in bitcoin and blockchain startups dropped 18 percent to 132 deals last year a from 2015 high of 161, according to CB Insights.
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    Money raised through ICOs skyrocketed last year, and the offerings continue , even though not all projects supported by ICOs have been successful.

Blockchain Capital LLC, which backs startups that use the technology best known for supporting bitcoin, plans to raise a new $50 million fund partly by issuing its own digital tokens, becoming the first …
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Bitcoin plunges as much as 20 percent as Chinese yuan soars

Bitcoin slides as much as 20 percent as Chinese yuan rises

  • On some digital currency exchanges – of which there are dozens – bitcoin did reach record highs late on Wednesday.
  • Bitcoin plunges as much as 20 percent as Chinese yuan soars
  • Bitcoin had gained more than 40 percent in two weeks to hit a three-year high of $1,139.89 on Wednesday, just shy of its all-time record of $1,163 on the Europe-based Bitstamp exchange (BTC=BTSP).
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A dramatic rally in digital currency bitcoin came to a spectacular end on Thursday with a plunge of up to 20 percent as China’s yuan rose sharply – further evidence of an intriguing inverse relationship between the pair. Chinese exchanges have reported high volumes of trading of the web-based &
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Bitcoin plunges as much as 20 percent as Chinese yuan soars

#bitcoin plunges by a fifth

  • On some digital currency exchanges – of which there are dozens – bitcoin did reach record highs late on Wednesday.
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  • Bitcoin plunges as much as 20 percent as Chinese yuan soars
  • Suspected Muslim rebels staged the Philippines’ biggest jailbreak Wednesday when they stormed a dilapidated jail in the violence-plagued south of the country, freeing 158 inmates and killing a guard, authorities said.
  • Bitcoin had gained more than 40 percent in two weeks to hit a three-year high of $1,139.89 on Wednesday, just shy of its all-time record of $1,163 on the Europe-based Bitstamp exchange .

By Jemima Kelly LONDON (Reuters) – A dramatic rally in digital currency bitcoin came to a spectacular end on Thursday with a plunge of up to 20 percent as China’s yuan rose sharply – further evidence of an intriguing inverse relationship between the pair. Exchanges in China say they account for
Continue reading “Bitcoin plunges as much as 20 percent as Chinese yuan soars”

Bank of England recruits fintech firms to ramp up cybersecurity drive 

  • Claire Sunderland Hay said the Bank of England is working on ways to alert banks and other finance firms about cyberattacks in real time
  • “Fintech is the opportunity to build European champions, which banks have not managed in 300 years.
  • Anthony Olsen from money transfer firm Remitly said he is particularly worried that firms licensed in the UK will lose their EU passporting rights to do business across the bloc.
  • Officials are getting financial technology (fintech) firms into Threadneedle Street to work on ways to use new systems to combat fraud.
  • Bank of England recruits fintech firms to ramp up cybersecurity drive

The Bank of England is working on new ways to warn banks and other finance firms about cyberattacks in real time, so the City of London can put its defences on full alert against online fraudsters and saboteurs, the central bank’s top fintech executive has revealed.
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Blockchains, independent trust networks and their implications for supply chains

  • Source: Transport Intelligence blog Published on 2016-08-11
  • The digital currency Bitcoin has been attracting media attention for some time, but the most interesting thing about this ‘virtual’ currency is not the currency itself, it’s the technology that enables it to exist.
  • Transport Intelligence Ltd is a company registered in England and Wales No.4554810
  • quickly and easily search and gain invaluable insight into the logistics industry
  • Enhance the role of the market research department

The digital currency Bitcoin has been attracting media attention for some time, but the most interesting thing about this ‘virtual’ currency is not the currency itself, it’s the technology that enables it to exist. This is something called the Blockchain and it may have a very profound impact across numerous industries including logistics and supply chain management
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Swiss rail service to sell Bitcoin at ticket machines

Swiss rail service to sell #bitcoin at ticket machines

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‘Swiss rail service to sell Bitcoin at ticket machines’ on Yahoo Finance UK. Bitcoin has stirred interest as a way to move money around the world with no fees or bank involvement, but secrecy surrounding the currency, including its creator, have led to some questions on its stability …
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The Commonwealth Bank just used blockchain in a ‘world first’ global transaction

The Commonwealth Bank just used #blockchain in a world first global transaction #bitcoin

  • The trade involved an open account transaction, mirroring a traditional bank letter of credit, between the seller (Brighann Cotton of the US), the buyer (Brighann Cotton Marketing Australia), and their banks (Wells Fargo and Commonwealth Bank).
  • “In the case, we demonstrated how a new approach to trade could benefit a joint Wells Fargo and Commonwealth Bank customer, Brighann Cotton,” he says.
  • The Commonwealth Bank and Wells Fargo used blockchain in what they say is a world first global trade transaction between independent banks for a shipment of cotton from Texas to Qingdao in China.
  • Blockchain, the technology behind digital currency bitcoin and now being used to simplify secure financial transactions, has been applied for the first time in a deal facilitated by an Australian bank to sell cotton to China.
  • “The interplay between blockchain, smart contracts and the Internet of Things is a significant development towards revolutionising trade transactions that could deliver considerable benefits throughout the global supply chain.”

‘The Commonwealth Bank just used blockchain in a ‘world first’ global transaction’ on Yahoo7 Finance Australia. Blockchain, the technology behind digital currency bitcoin and now being used to simplify secure financial transactions, has been applied for the first time in a deal facilitated by an Australian bank to sell cotton to China. The Commonwealth Bank and Wells Fargo used blockchain in what they say is a world first global trade transaction between independent banks for a shipment of cotton from Texas to Qingdao in China. The trade involved an open account transaction, mirroring a traditional bank letter of credit, between the seller (Brighann Cotton of the US), the buyer (Brighann Cotton Marketing Australia), and their banks (Wells Fargo and Commonwealth Bank).
Continue reading “The Commonwealth Bank just used blockchain in a ‘world first’ global transaction”