Decentralized, blockchain-powered cloud storage just got a $3m boost in a move that highlights an unusual financing path.
Atlanta-based startup Storj wants to harness unused computer storage space to decentralize data hosting and to offer cheap bandwidth. CoinDesk spoke to CEO Shawn Wilkinson on the state of the technology and the roadmap for development.
An interesting aspect of this round is that Storj managed one of the first successful ICOs back in 2014, issuing a digital asset called Storjcoin X to raise $430,000. That turned out to be enough to grow the initial businesses, while the coin's market cap grew to $6.5m.
Now the company has raised $3m from a group of angel investors, most of whom work for established VC houses.
Could this ICO to VC path become a typical financing strategy for blockchain startups?
In BLOCKCHAINS FOR INSURANCE, CoinDesk takes a look at how blockchain technology is affecting a $5tn industry. We talk to the startups and incumbents making this happen, give an overview of the applications and share insights from industry insiders on how distributed ledgers can change a sector that touches almost every aspect of the global economy.
Major Banks Use Blockchain Prototype for Live Oil Trade ING and SocGen have developed a blockchain platform that was used to execute a transaction with commodities trader Mercuria. Read more.
Bitcoin Price Surges to Within $30 of All-Time High History could be in the making today, as the price of bitcoin inches closer to $1,165. Recent moves reflect increased confidence, and the market could be 'pricing in' an approval for the first bitcoin ETF. Read more.
Faster Than Lightning? 'Sprite' Proposes New Design for Bitcoin Payments A new paper has laid out the framework for another 'off-chain' payment system that researchers claim would be even faster than Lightning, especially in disputes. Read more.
Zcash Unveils Roadmap for 'Sapling' Blockchain Upgrade Planned changes include a payment disclosure feature, inter-blockchain transactions and the issuance of zcash tokens. The announcement comes amid a decline in the zcash price to below $30 for the first time. Read more.
Bitcoin IoT Startup Filament Nets $9.5 Million in Ongoing Funding The Nevada-based startup is looking to leverage the bitcoin blockchain to create unique identifiers for specific IoT devices. More details will be forthcoming when the round closes at the end of February. Read more.
Cryptsy Class Action Lawyers Launch New Claims Site CryptsySettlement.com details the process by which affected customers of the exchange can submit a claim, or to request an exclusion prior to further litigation. Read more.
Danish Police Claim Breakthrough in Bitcoin Tracking According to local sources, the Danish National Police Cyber Crime Center has developed software for tracing bitcoin transactions, and has used it to secure drug convictions. Read more.
West Virginia Lawmakers Want to Make Bitcoin Money Laundering a Felony The bill, introduced yesterday, includes the definition of cryptocurrency as a "monetary instrument". Read more.
Poland's Financial Ombudsman Calls for Bitcoin Exchange Regulation Her office is working on a report on the impact of new technologies (including cryptocurrencies) on financial services. Read more.
The Sales and Marketing Associate is a sales-support position, responsible for identifying and contacting prospects, with the expectation of bringing revenue-producing clients into Genesis' digital currency business lines. More info.
GENESIS TRADING - Research Associate
The Research Associate will support the continued growth and expansion of the business, and will proactively assess new market opportunities and products within the digital currency space. More info.
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In BLOCKCHAINS FOR INSURANCE, CoinDesk takes a look at how blockchain technology is affecting a $5tn industry. We talk to the startups and incumbents making this happen, give an overview of the applications and share insights from industry insiders on how distributed ledgers can change a sector that touches almost every aspect of the global economy.
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