tag:blogger.com,1999:blog-10387850277690414522024-03-14T04:29:19.728-07:00Gary HerickGary Herick is a private financial consultantGary Herickhttp://www.blogger.com/profile/15523847384755898784noreply@blogger.comBlogger50125tag:blogger.com,1999:blog-1038785027769041452.post-29351184339499757782019-08-03T14:41:00.001-07:002019-08-03T14:41:40.075-07:00Sunniva Inc. Agrees To Sell Its Okanagan Falls Property To CannaPharmaRx, Inc. for CAD $20 Million<div dir="ltr" style="text-align: left;" trbidi="on">
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June 12, 2019<br />
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<i>Transaction is Subject to Financial Audit and Satisfaction of Other Conditions</i><br />
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VANCOUVER, BC / ACCESSWIRE / June 12, 2019 / <a href="https://www.sunniva.com/" target="_blank">Sunniva Inc</a>. ("Sunniva") (<a href="https://finance.yahoo.com/quote/snnvf/" target="_blank">SNN; SNNVF</a>) and CannaPharmaRx, Inc. ("CannaPharmaRx") (OTC PINK: <a href="https://money.cnn.com/quote/shareholders/shareholders.html?symb=CPMD" target="_blank">CPMD</a>) are pleased to announce that they have entered into a share purchase agreement dated June 11, 2019, pursuant to which Sunniva has agreed to sell Sunniva Medical Inc. ("SMI") to CannaPharmaRx in an all-cash transaction for CAD $20 million less certain outstanding liabilities in SMI, including the mortgage on the property. Net proceeds payable to Sunniva are anticipated to be approximately CAD $15.5 million. Closing is anticipated to occur on or around July 5, 2019. Effectiveness of the agreement is subject to certain closing conditions including completion of a financial audit of SMI and receipt of sufficient financing by the Purchaser.<br />
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SMI owns the Sunniva Canada Campus, which includes construction assets for a planned 759,000 square foot greenhouse located on an approximately 114-acre property in Okanagan Falls, British Columbia.<br />
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"The sale of SMI is in line with our previously announced strategy of evaluating strategic alternatives for our operations in Canada," said Dr. Anthony Holler, CEO of Sunniva Inc. "Sunniva is focused on the advancement of our California assets and expanding our sales and distribution infrastructure in the state to support our continued growth in this rapidly evolving market. The disposition of the Okanagan Falls property is part of this strategy as we are directing our efforts and capital resources towards the completion of the Cathedral City facility and the ongoing development of our cannabis brands in California."<br />
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Dominic Colvin, the CEO of CannaPharmaRx stated, "We are excited to have reached an agreement to purchase this property from Sunniva. The acquisition and development of the Okanagan Falls property, combined with our Hanover, Ontario property and ownership interest in GN Ventures Ltd., sets the stage for the next step in CannaPharmaRx's growth strategy to become a significant player in the Canadian cannabis industry while continuing to strive to maximize shareholder value."<br />
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For more information on Sunniva please visit <a href="http://www.sunniva.com/">www.sunniva.com</a>.<br />
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For more information on CannaPharmaRx please visit <a href="http://www.cannapharmarx.com/">www.CannaPharmaRx.com</a>.<br />
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Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.<br />
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About Sunniva, Inc.<br />
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Sunniva, through its subsidiaries, is a vertically integrated cannabis company operating in the world's two largest cannabis markets - California and Canada. In Canada, Sunniva's wholly owned subsidiary NHS operates medical cannabis clinics that provide educational and clinical services to patients. In California, Sunniva is focused on creating sustainable premium cannabis brands supported by our large-scale, purpose-built cGMP designed greenhouse and extraction facilities. We offer a steadfast commitment to safety and quality assurance providing cannabis products free from pesticides, which positions Sunniva in California as a leading provider of safe, high quality, reproducible products at scale. Through production from Phase One of our strategically positioned 325,000 square foot high technology greenhouse which is nearing completion and our fully operational Extraction Facility in California, we are launching Sunniva branded products in various product categories and price points including flower, pre-rolls, vape cartridges and premium concentrates. Sunniva branded products will be showcased within our flagship dispensary to be located at the greenhouse and our in-house marketing and distribution team will strive to ensure the placement of Sunniva branded products at licensed dispensaries throughout the state. Sunniva's management and board of directors have a proven track record for creating significant shareholder value both in the healthcare and biotech industries.<br />
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About CannaPharmaRx, Inc.<br />
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<a href="https://www.cannapharmarx.com/press" target="_blank">CannaPharmaRx</a> is focused on the acquisition and development of state-of-the-art cannabis grow facilities located in Canada. CPMD has recently completed an initial acquisition of a 48,500 square foot cannabis grow facility presently under development and is currently in discussion with other companies regarding potential acquisitions or business combinations. CannaPharmaRx's business strategy is to become a leader in high quality and low-cost production of cannabis in Canada through the development, acquisition and enhancement of existing facilities. <a href="https://www.cannapharmarx.com/" target="_blank">CannaPharmaRx</a> is presently targeting acquisitions of companies in the final stages of obtaining cannabis licensee applications or those which are nearing revenue generation. CannaPharmaRx is committed to operating high quality facilities utilizing the latest technology in combined heat and power generation to ensure being a low-cost producer of cannabis. CannaPharmaRx is in the process of completing an application to list its common stock on the Canadian Stock Exchange with initial trading anticipated to being during the second quarter of 2019.<br />
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Forward Looking Statements (with respect to Sunniva)<br />
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<i>This press release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, statements regarding Sunniva's operations and growth opportunities, Sunniva's plans to launch Sunniva-branded products in various product categories including high quality distillate, premium concentrates, vape cartridges, flower, pre-rolls, and beverages, which will be showcased within Sunniva's flagship dispensary, the placement of Sunniva-branded products at licensed dispensaries throughout California, and statements regarding the anticipated closing date of the sale of SMI, the closing conditions of such sale, and the net proceeds to be obtained therefrom are "forward-looking statements." Forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, the risk factors included in the Sunniva's continuous disclosure documents available on www.sedar.com. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although Sunniva has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. Sunniva assumes no obligation to update any forward-looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.</i><br />
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Safe Harbor Statement (with respect to CannaPharmaRx)<br />
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<i>This press release may contain forward looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues and any payment of dividends on our common and preferred stock, statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by CannaPharmaRx with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the Securities and Exchange Commission. Among other matters, CannaPharmaRx may not be able to sustain growth or achieve profitability based upon many factors including, but not limited to, general stock market conditions. Reference is hereby made to cautionary statements set forth in the company's most recent SEC filings. We have incurred and will continue to incur significant expenses in our expansion of our existing and new service lines, noting there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. Additional service offerings may expose us to additional legal and regulatory costs and unknown exposure(s) based upon the various geopolitical locations where we will be providing services, the impact of which cannot be predicted at this time.</i><br />
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Company Contacts:<br />
Sunniva Inc.<br />
Dr. Anthony Holler<br />
Chairman and Chief Executive Officer<br />
Phone: (866) 786-6482<br />
Sunniva Investor Contact:<br />
Phil Carlson / Erika Kay<br />
KCSA Strategic Communications<br />
Phone: (212) 896-1233<br />
Email: pcarlson@kcsa.com / ekay@kcsa.com<br />
Sunniva Media Contact:<br />
Katelyn Tumino / Tony Forde<br />
KCSA Strategic Communications<br />
Phone: (212) 896-1252<br />
Email: ktumino@kcsa.com / tforde@kcsa.com<br />
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SOURCE: <a href="https://www.cannapharmarx.com/" target="_blank">Cannapharmarx, Inc.</a><br />
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View source version on accesswire.com:<br />
<a href="https://www.accesswire.com/548573/Sunniva-Inc-Agrees-To-Sell-Its-Okanagan-Falls-Property-To-CannaPharmaRx-Inc-for-CAD-20-Million">https://www.accesswire.com/548573/Sunniva-Inc-Agrees-To-Sell-Its-Okanagan-Falls-Property-To-CannaPharmaRx-Inc-for-CAD-20-Million</a><br />
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Gary Herickhttp://www.blogger.com/profile/15523847384755898784noreply@blogger.com0tag:blogger.com,1999:blog-1038785027769041452.post-72459120444439531092019-08-03T14:28:00.000-07:002019-08-03T14:28:56.367-07:00CannapharmaRx, Inc., Strengthens Management Team<div dir="ltr" style="text-align: left;" trbidi="on">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiPLsDENMgjySGoicLruZwj3lVuQfPzXpuPxrJmW2xuiezIlXi50KbGY8-1W74TwFKUkZN4-BIOqaKg2p820Qz2XUjHskl1KlpftS7LQSyh8m24-GJ8X7EoGqnAEABjjN9x7-u9TFJoMK8/s1600/Cannapharmarx-logo-01.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="CannapharmaRx" border="0" data-original-height="80" data-original-width="432" height="59" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiPLsDENMgjySGoicLruZwj3lVuQfPzXpuPxrJmW2xuiezIlXi50KbGY8-1W74TwFKUkZN4-BIOqaKg2p820Qz2XUjHskl1KlpftS7LQSyh8m24-GJ8X7EoGqnAEABjjN9x7-u9TFJoMK8/s320/Cannapharmarx-logo-01.jpg" title="CannapharmaRx" width="320" /></a></div>
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CALGARY, AB / ACCESSWIRE / May 14, 2019 / <a href="https://www.cannapharmarx.com/" target="_blank">CannaPharmaRx, Inc.</a> (OTC PINK: <a href="https://money.cnn.com/quote/shareholders/shareholders.html?symb=CPMD" target="_blank">CPMD</a>) CannapharmaRx, Inc. (''CPMD'' or the ''Company'') is pleased to announce the strengthening of its management team via the recent hires of John Cassels as Chief Financial Officer and Andrew Steedman as Executive Vice President of Business Development. Additionally, the Board of Directors was expanded with the addition of Richard Orman and Marc Branson. As part of the management changes, Gary Herick resigned as Chief Financial Officer and Director of the Company.<br />
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Bios--<br />
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<b>John Cassels, C.A.</b>, was appointed Chief Financial Officer of the Company in April 2019. Mr. Cassels was previously the Chief Financial Officer of GN Ventures, Ltd. Prior to GN Ventures, Mr. Cassels serves as Chief Financial Officer and Vice President of Finance at Wescan Energy Corp. since May 30, 2013. Mr. Cassels served as Secretary of Northern Spirit Resources Inc. (alternate Name: Cascade Resources Inc.). He served as the Interim Chief Financial Officer at Northern Spirit Resources Inc. (alternate Name: Cascade Resources Inc.) since July 31, 2015 until September 1, 2015 and served as its Vice President of Finance. Mr. Cassels has over 35 years of experience in the Canadian natural gas and oil industry as the President and Chief Executive Officer of Paris Energy Inc., Chief Financial Officer and Vice President of Finance at Redwood Energy Ltd., Landover Energy Inc., as the Chief Executive Officer of Crown Point Energy Inc. and was a Partner of Purdy & Partners Inc. and served as its Chief Financial Officer. Mr. Cassels has served as a Director of nine small natural gas and oil companies. Mr. Cassels is a Chartered Accountant in Canada and holds a B.A. from Bishop's University in Sherbrooke, Quebec.<br />
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<b>Andrew Steedman</b>, was appointed Executive Vice President of Business Development of the Company in April 2019. Previously, Mr. Steedman served as an Advisor to GN Ventures, Ltd., Vice President of NXT Energy Solutions, Inc., President of Wireless Networks, Inc. and worked in Business Development for Nortel Networks, Inc. Mr. Steedman received a Bachelor of Science Degree in Electrical Engineering and a MBA both from the University of Calgary.<br />
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<b>Marc Branson</b>, was appointed as a director of our Company in April 2019. In addition, since January 2018 has the owner and co-founder of Titan Technologies, Inc., Vancouver, British Columbia, Canada, a development stage privately held technology company focused on AI powered block chain solutions for businesses. Since October 2016 he has also been the President and director of Catalina Gold Corp., a publicly traded Canadian company. Previously, from October 2013 through June 2015 he was President and a director of Lightning Ventures Inc., a publicly held manufacturer and distributor of specialty oil and gas products. Since 2007 he has also been President and a director of CapWest Investments., a private investment corporation that focuses on development stage companies. He received a degree in International Business from Open Learning University in 2000 and received a Business Management certificate from Capilano College in 1997.<br />
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<b>Richard D. Orman</b>, was appointed as a director of our Company in April 2019. In addition, he is currently the President of PLM Consultants, LTD, Calgary, Alberta, Canada, a privately held business consulting company, a position he has held since 1982. In 1986 Mr. Orman was elected to the Legislative Assembly of Alberta and was appointed to the provincial cabinet as Minister of Career Development and Employment. In 1988 he was appointed Minister of Labour. He was re-elected in 1989 and was then appointed Minster of Energy. He has over 35 years of experience with publicly traded companies in Canada, including Chairman and CEO of Kappa Energy Company, Inc., from 1994 to 2001, a director of Vanguard Oil Corp. from 1998 through 2001, and Executive Vice Chairman of Exceed Energy Company, Inc. from 2003 through 2005, Each of the aforesaid companies had their securities traded on the Toronto Stock Exchange. In addition, he was Vice Chairman of Novatel Inc., a company traded on NASDAQ from 2004 through 2007 and from 2007 through 2011 he was the lead director of Daylight Energy Ltd, also traded on the TSX. From 2015 through February 2019 he was a consultant and senior counsel at Canadian Strategy Group, a government relations firm located in Edmonton, Alberta. In 2012 he was elected to the Board of Directors and currently services as Chairman of the Board of Wescan Energy Corp. a company traded on the TSX. In 2016 he was elected and currently serves an independent non-executive director of Persta Resources, Inc., a company traded on the Hong Kong Stock Exchange. Mr. Orman received a Bachelor of Arts degree with honors from Eastern Washington University in 1971.<br />
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About CannaPharmaRx, Inc.<br />
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<a href="https://www.cannapharmarx.com/" target="_blank">CannaPharmaRx</a> is focused on the acquisition and development of state-of-the-art cannabis grow facilities located in Canada. <a href="https://money.cnn.com/quote/shareholders/shareholders.html?symb=CPMD" target="_blank">CPMD</a> has recently completed an initial acquisition of a 48,500 square foot cannabis grow facility presently under development and is currently in discussion with other companies regarding potential acquisitions or business combinations. CannaPharmaRx's business strategy is to become a leader in high quality and low-cost production of cannabis in Canada through the development, acquisition and enhancement of existing facilities. CannaPharmaRx is presently targeting acquisitions of companies in the final stages of obtaining cannabis licensee applications or those which are nearing revenue generation. CannaPharmaRx is committed to operating high quality facilities utilizing the latest technology in combined heat and power generation to ensure being a low-cost producer of cannabis. CannaPharmaRx is in the process of completing an application to list its common stock on the Canadian Stock Exchange with initial trading anticipated to being during the second quarter of 2019.<br />
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Safe Harbor Statement<br />
<i>This press release may contain forward looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues and any payment of dividends on our common and preferred stock, statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the Securities and Exchange Commission. Among other matters, CannaPharmaRx, Inc. may not be able to sustain growth or achieve profitability based upon many factors including, but not limited to, general stock market conditions. Reference is hereby made to cautionary statements set forth in the company's most recent SEC filings. We have incurred and will continue to incur significant expenses in our expansion of our existing and new service lines, noting there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. Additional service offerings may expose us to additional legal and regulatory costs and unknown exposure(s) based upon the various geopolitical locations where we will be providing services, the impact of which cannot be predicted at this time.</i><br />
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Contact Information:<br />
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Attention info@cannapharmarx.com<br />
Investor Relations<br />
Telephone 949.652.6838<br />
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SOURCE: <a href="http://ca.finance.yahoo.com/news/cannapharmarx-inc-strengthens-management-team-173500824.html" target="_blank">CannaPharmaRx, Inc.</a><br />
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Gary Herickhttp://www.blogger.com/profile/15523847384755898784noreply@blogger.com0tag:blogger.com,1999:blog-1038785027769041452.post-73977068299251263242019-07-13T13:08:00.000-07:002019-07-13T13:08:04.473-07:00Venture Capital China Going Bust?<div dir="ltr" style="text-align: left;" trbidi="on">
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China’s Venture Capital Boom Shows Signs of Turning Into a Bust</h2>
From <a href="https://www.bloomberg.com/news/articles/2019-07-09/china-s-venture-capital-boom-shows-signs-of-turning-into-a-bust" target="_blank">Bloomberg by Peter Elstrom</a> July 9, 2019<br />
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China went through a five-year surge in venture capital investment that fostered a new generation of startups from ride-hailing giant Didi Chuxing to TikTok-parent Bytedance Ltd. Now the boom may be over.<br />
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Venture deals in China plummeted in the second quarter as investors pulled back amid unpredictable trade talks and growing concerns about startup valuations. The value of investments in the country tumbled 77% to $9.4 billion in the second quarter from a year earlier, while the number of deals roughly halved to 692, according to the market research firm Preqin.<br />
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The second quarter of 2018 marked the peak for China venture deals with a total of $41.3 billion invested. That included a $14 billion round for digital payments giant Ant Financial, $3 billion for e-commerce upstart Pinduoduo Inc. and $1.9 billion for truck-sharing service Manbang Group (known also as Full Truck Alliance Group). By comparison, the largest venture deal in the second quarter of 2019 was a $1 billion investment in JD Health, the health care affiliate of e-commerce provider JD.com Inc.<br />
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China has never been through a widespread bust like the U.S. did after the dotcom boom, in part because the country’s venture market is so new. Years of steady growth in tech investments resulted in predictable -- and enormous -- profits. Whether the current downturn becomes a painful crash depends in large part on how VCs, entrepreneurs and regulators navigate terrain they’ve never seen before.<br />
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“We’re seeing real stress in the system for the first time,” said Gary Rieschel, a founding partner at Qiming Venture Partners who has worked in China and the U.S. “We have never seen a downturn in the China market. For 20 years, it’s been pretty much up and to the right.”<br />
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Venture deals in the U.S. rose about 15% in the second quarter of 2019 to $27.7 billion, while Europe investments climbed 32% to $7.9 billion, according to Preqin.<br />
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“We haven’t seen the same slowdown in other markets,” said Chris Elvin, head of private equity at Preqin. “It’s always tricky with quarterly numbers though. A quarter doesn’t necessarily mean a trend.”<br />
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China’s venture boom began in 2014 when Alibaba Group Holding Ltd. went public in the largest-ever initial public offering, making clear to investors the potential riches in the world’s most populous country. Venture deals tripled that year to more than $17 billion and proceeded to rise every year through 2018 when the total topped $105 billion, almost as much as in the U.S.<br />
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Along the way, firms like Qiming, Sequoia China, Tiger Global Management and SoftBank Group Corp. fostered some of the most valuable startups in the world. Bytedance, the force behind short-video app TikTok and other addictive services, sports a valuation of $75 billion, the highest anywhere according to CB Insights. Didi, the ride-hailing service that ousted Uber Technologies Inc. from China, was last valued at $56 billion, the second highest.<br />
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But the rise of China’s tech industry put it squarely in the crossfire of the trade war. The Trump administration has accused China of stealing intellectual property and unfairly subsidizing companies in strategic fields, including semiconductors, artificial intelligence and autonomous driving. In May, the U.S. blacklisted Huawei Technologies Co., preventing the telecom giant from buying American components, and is considering doing the same to a swath of startups.<br />
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The trade war gives investors one more reason for caution. Valuations had already grown vertiginous. High-profile startups such as smartphone-maker Xiaomi Corp. and delivery giant Meituan Dianping saw their stocks tumble after they went public, reinforcing the impression that private-market valuations had gotten out of hand.<br />
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So-called sharing economy startups have also tested the patience of their investors. Companies like Didi, Meituan and bike-sharing provider Ofo blitzed the market with heavy subsidies to grab market share from rivals, making up for their losses with venture money. Now there’s skepticism that many such companies will ever turn a profit.<br />
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“You’re really reaching the end of the shared economy -- this idea of let’s give away services for free and make up for it in volume,” Rieschel said. “Some companies -- Didi is the classic case -- are just not showing any ability to become profitable.”<br />
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A Didi representative didn’t respond to a message and email seeking comment.<br />
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Valuations haven’t declined yet in China though. The country’s startups have resisted so-called down rounds, when they raise money at lower valuations than an earlier round. “China entrepreneurs, more than any on the planet, will do unnatural things to avoid a down round,” Rieschel said.<br />
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Meanwhile, venture firms are pivoting to alternative business models, like enterprise software. Such startups are not only less capital intensive, they are at a stage of development where they require less money.<br />
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This also may simply be a time when venture investors opt for caution. Given the volatile negotiations between Donald Trump and Xi Jinping, it’s not clear what kind of opportunities China’s tech startups will face in the years ahead or how capital markets will treat the next big IPO filing.<br />
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“It won’t cost you that much to sit on your hands for a few months,” Rieschel said.<br />
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Source: <a href="https://www.bloomberg.com/news/articles/2019-07-09/china-s-venture-capital-boom-shows-signs-of-turning-into-a-bust">https://www.bloomberg.com/news/articles/2019-07-09/china-s-venture-capital-boom-shows-signs-of-turning-into-a-bust</a><br />
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Gary Herickhttp://www.blogger.com/profile/15523847384755898784noreply@blogger.com0tag:blogger.com,1999:blog-1038785027769041452.post-36401163162987614602019-03-03T19:59:00.000-08:002019-03-03T20:00:22.309-08:00CannaPharmaRx Announces the Acquisition of a Minority Interest in GN Ventures<div dir="ltr" style="text-align: left;" trbidi="on">
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CannaPharmaRx Announces the Acquisition of a Minority Interest in GN Ventures, a Canadian Cannabis Producer, and the Appointment of Dominic Colvin as CEO and Chairman of the Board</h2>
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<i><b>Company Continues to acquire Cannabis Grow Capacity in Canada</b></i></div>
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IRVINE, Calif., Feb 28, 2019 (GLOBE NEWSWIRE via COMTEX) -- IRVINE, Calif., Feb. 28, 2019 (GLOBE NEWSWIRE) -- CannaPharmaRx, Inc. (otc pink sheets:"CPMD") announced today it has completed the acquisition of a minority interest in GN Ventures, LTD., ("GNC"), an Alberta corporation, engaged in the development of Canadian cannabis cultivation facilities. Under the terms of the stock purchase agreement the Company acquired approximately eighteen (18%) percent of the issued and outstanding securities of GNC for total consideration of 7,998,963 shares of CPMD common stock. Additionally, the Company acquired warrants exercisable to purchase an additional 2,500,000 shares of GN at an exercise price of CAD$1.00 per share. </div>
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GNC owns a 60,000 square foot cannabis cultivation and grow facility located on 38 acres in Stevensville, Ontario, Canada. Once completed, GNC estimates annual total production capacity from the Stevensville facility of up to12,500 kilograms of cannabis. When completed, GN believes it will begin cultivation activities and generate its initial harvest by the middle of 2019. Additionally, the plan is to increase cannabis production by building additional cannabis cultivation facilities on the excess land presently owned adjacent to the existing Stevensville facility, provided that additional funding for expansion can be obtained on commercially reasonable terms.</div>
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CPMD also appointed Dominic Colvin as Chief Executive Officer, President and Chairman of the Board. Mr. Colvin had previously been CEO, President and a director of CPMD until he resigned to avoid any appearance of conflicts of interest. Mr. Colvin stated, "I am very excited for the growth opportunities at CannapharmaRx. The Company's objective is to become the premier holder of cannabis producing facilities in Canada. With the previously acquired Hanover property and minority ownership of GN Ventures, we are well on our way to achieving the production and ownership goals of the Company. We intend to acquire additional shares of GN along with other Canadian licensed producers and develop cannabis cultivation facilities which produce high quality cannabis at the lowest operational costs in the industry. Canada is still the place to be for cannabis production and we see a huge demand for years to come from the product we produce."</div>
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About CannaPharmaRx, Inc.</div>
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CannaPharmaRx is focused on the acquisition and development of state-of-the-art cannabis grow facilities located in Canada. CPMD has recently completed an initial acquisition of a 48,500 square foot cannabis grow facility presently under development and is currently in discussion with other companies regarding potential acquisitions or business combinations. CannaPharmaRx's business strategy is to become a leader in high quality and low-cost production of cannabis in Canada through the development, acquisition and enhancement of existing facilities. CannaPharmaRx is presently targeting acquisitions of companies in the final stages of obtaining cannabis licensee applications or those which are nearing revenue generation. CannaPharmaRx is committed to operating high quality facilities utilizing the latest technology in combined heat and power generation to ensure being a low-cost producer of cannabis. CannaPharmaRx is in the process of completing an application to list its common stock on the Canadian Stock Exchange with initial trading anticipated to being during the second quarter of 2019.</div>
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Safe Harbor Statement</div>
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This press release may contain forward looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues and any payment of dividends on our common and preferred stock, statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the Securities and Exchange Commission. Among other matters, CannaPharmaRx, Inc. may not be able to sustain growth or achieve profitability based upon many factors including, but not limited to, general stock market conditions. Reference is hereby made to cautionary statements set forth in the company's most recent SEC filings. We have incurred and will continue to incur significant expenses in our expansion of our existing and new service lines, noting there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. Additional service offerings may expose us to additional legal and regulatory costs and unknown exposure(s) based upon the various geopolitical locations where we will be providing services, the impact of which cannot be predicted at this time.</div>
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Contact Information:</div>
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Attention info@cannapharmarx.com </div>
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Telephone 949.652.6838</div>
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Gary Herickhttp://www.blogger.com/profile/15523847384755898784noreply@blogger.com0tag:blogger.com,1999:blog-1038785027769041452.post-77311234882629701702018-12-12T14:04:00.000-08:002018-12-12T14:04:22.794-08:00Venture Capital Summit Offers Innovative Ideas and Money<div dir="ltr" style="text-align: left;" trbidi="on">
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At Global Venture Capital Summit 2018, talks revolve around innovative ideas and the money needed to fund these ideas</h2>
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<a href="https://m.dailyhunt.in/news/india/english/yourstory-epaper-yourstory/at+global+venture+capital+summit+2018+talks+revolve+around+innovative+ideas+and+the+money+needed+to+fund+these+ideas-newsid-103336936">From Dailyhunt.in</a> Dec. 8, 2018<br />
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Speaking at the Global Venture Capital Summit 2018 Union Minister of Commerce and Industries Suresh Prabhu said the country will need more ideas and more capital to multiply its wealth.<br />
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The Global Venture Capital Summit 2018 kicked off in Goa on December 7. An initiative of the Departmental of Industrial Policy & Promotion (DIPP) and the Government of Goa, in partnership with the International Finance Corporation and Indian Private Equity & Venture Capital Association, the event brought together international fund managers, startups, government officials and other key stakeholders from the startup ecosystem.<br />
Present on the occasion were Union Minister of Commerce and Industries Suresh Prabhu and Goa Minister of Revenue, IT, Labour & Employment, Rohan Khaunte.<br />
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The Summit focused on the opportunities for investments in the Indian startup ecosystem, and showcased the diverse market opportunities and technology innovations available in the country, with discussions held around the current and future regulatory changes .<br />
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Ease of doing business increases<br />
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The context of the Summit was set by Ramesh Abhishek, Secretary, DIPP. "This event will help us discuss the opportunities available and the challenges of the Indian ecosystem," he said.<br />
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He spoke about the ease of doing business in the Indian ecosystem - including at the district level, faster environmental clearances (from 600 days to 140 days) and abolition of inter-state check posts after the introduction of Goods and Service Tax (GST), among others. "In terms of ease of doing business globally, India was ranked 133 in 2009, now we are at Rank 77," he said.<br />
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Since the introduction of Startup India in January 2016, 14,479 startups have been recognised with the Government of India. "A corpus of over Rs 100 billion is to be provided by March 2025," the DIPP Secretary said.<br />
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The Union Government has undertaken steps like the introduction of transformative measures - GST, IBC and Commercial Courts Acts, and introduction of third party and self-certification measures.<br />
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Under the Startup India programme, the Government also started a virtual incubation platform for startups to register themselves. "Before the launch of Startup India, only four Indian states adopted the startup policies. Since January 2016, 16 states have launched their own startup policies," he added.<br />
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Goa as a preferred startup destination<br />
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Addressing the audience, Goa minister Rohan Khaunte said that the state is set to become a desirable startup destination by welcoming more investments and creating more job opportunities.<br />
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He compared Goa's cultural richness with the culture of startups. "Startups have the culture to innovate, the culture of risk-taking and the culture of treating every failure as a stepping stone to success," he said. Having said that, he added, "Everyone has ideas but only few can execute these ideas."<br />
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Khaunte also spoke about how buoyant the mood in the Indian startup ecosystem was, with roughly $11 billion being invested in the country in the last year and Flipkart making a huge exit.<br />
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"The Indian startup ecosystem is set to break all records. We look at Goa being the startup capital and capital of startup investment," he concluded.<br />
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The relationship between ideas and money<br />
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Setting a context to the premise of the Summit - attracting investments -- Suresh Prabhu said, "When you talk about a startup, you are talking about a new idea, and money and ideas need each other."<br />
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He said that India will be adding another $10 trillion in the coming 15 to 16 years, and would need more ideas for wealth to multiply. In this context, the Union Minister announced that India was prepared for this level of growth and that one of the key steps in this direction was adding another 100 airports in the next decade.<br />
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Besides this, he also said that startups are the new job creators and they will greatly socially benefit the Indian society.<br />
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Prabhu announced that the Global Venture Capital Summit will be held in Goa each year on the first Friday of December.<br />
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Expert panels discuss the India story<br />
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The Summit saw a couple of expert panels speaking on topics ranging from 'Opportunity to build India as a $10 trillion economy by 2030', to discussions on 'Disrupting traditional models' and 'Innovation in India'.<br />
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Commenting on the latest technology one of the panellists, Dr Shefali Juneja, Joint Secretary of the Ministry of Civil Aviation, said, "Drones are here to stay and they will be feeding the Indian startups."<br />
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Other speakers included eminent names such as Priya Rajan of Silicon Valley Bank, investors Alok Goyal (Stellaris Venture Partners), Will Poole (Capria Investments), TCM Sundaram (IDG Ventures), Rahul Khanna (Trifecta Capital), Shweta Bhatia (Eight Road Ventures), Karthik Reddy (Blume Ventures) and Vikram Gupta (IvyCap Ventures) among many others.<br />
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Startup founders like Yashish Dhaniya (PolicyBazaar), Abhinav Jain (Shop 101), Mayank Kumar (UpGrad), Shradul Seth (Agrostar) and Venkatesh Bhat (Blackbuck) were also part of these panel discussions.<br />
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The Global Venture Capital Summit also saw the release of a report on Mobilizing Global Capital for Innovation. The report talks about the Indian Venture Capital landscape, the startup ecosystem in India and the regulatory framework in the country.<br />
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VCs at the summit said that they were interested in investing in the agritech, edutech, fintech and healthtech sectors in India.<br />
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YourStory is the digital media partner for the Global Venture Capital Summit 2018. We will be sharing live tweets and posts from the event as they unfold. Watch this space for more of the latest news and takeaways from the summit.<br />
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Source: <a href="https://m.dailyhunt.in/news/india/english/yourstory-epaper-yourstory/at+global+venture+capital+summit+2018+talks+revolve+around+innovative+ideas+and+the+money+needed+to+fund+these+ideas-newsid-103336936">https://m.dailyhunt.in/news/india/english/yourstory-epaper-yourstory/at+global+venture+capital+summit+2018+talks+revolve+around+innovative+ideas+and+the+money+needed+to+fund+these+ideas-newsid-103336936</a></div>
Gary Herickhttp://www.blogger.com/profile/15523847384755898784noreply@blogger.com0tag:blogger.com,1999:blog-1038785027769041452.post-59307475082396703452018-12-04T09:43:00.002-08:002018-12-04T09:43:55.713-08:00Federal Court Rules Case in Favor of Crypto ICO Against SEC<div dir="ltr" style="text-align: left;" trbidi="on">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjRTnFj4k_C4aiZpxvUD-FkudZV4LPEWHdHk_v3mLo_Gu32JcDV37rIm0iH4VrMyWih4mNJAjl0EevZ6NOEXHJ0yFsiNnxd7C6AW_W58gf2kQycly5XJl8G_S5g8pwuK-2_m5PiZehp39U/s1600/gavel-lawsuit-court-ripple-r3-xrp-760x400.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="400" data-original-width="760" height="168" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjRTnFj4k_C4aiZpxvUD-FkudZV4LPEWHdHk_v3mLo_Gu32JcDV37rIm0iH4VrMyWih4mNJAjl0EevZ6NOEXHJ0yFsiNnxd7C6AW_W58gf2kQycly5XJl8G_S5g8pwuK-2_m5PiZehp39U/s320/gavel-lawsuit-court-ripple-r3-xrp-760x400.jpg" width="320" /></a></div>
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From <a href="https://www.ccn.com/monumental-federal-court-rules-case-in-favor-of-crypto-ico-against-sec/">CCN.com</a> Dec. 3, 2018<br />
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Last week, the U.S. federal court ruled a case between the U.S. Securities and Exchange Commission (SEC) and a crypto initial coin offering (ICO) project called Blockvest in favor of the ICO project.<br />
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Marco Santori, the president and chief legal officer at Blockchain, said:<br />
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“The SEC brought an enforcement action against a company called Blockvest, alleging that Blockvest’s ICO was a securities offering. SEC asked the court for a preliminary injunction (an order freezing Blockvest’s assets, among other things) so it called a hearing on the evidence.”<br />
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The SEC failed to justify that the ICO in question was actually a security and the court refused to acknowledge the token as a security solely based on the distribution method of the asset.<br />
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Precedent For the Market<br />
The unexpected decision of the federal court is not necessarily a loss for the SEC nor a huge victory for the cryptocurrency sector. As SEC chairman Jay Clayton said, most ICOs that investors in the market talk about are mostly considered securities under existing U.S. regulations.<br />
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But, the outcome of the case established a precedent for the market and with some technicalities, some ICOs could potentially challenge the SEC in court and win a case if supported by sufficient evidence.<br />
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The SEC and investors in ICOs could also become more cautious in filing a lawsuit against an ICO project, as the court requires the plaintiff to explicitly describe the nature of the asset as a security, unaffected by the method in which the asset was introduced to the market.<br />
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“According to the court, in the ICO context there must be a ‘risk of financial loss’. This supports the proposition that something like an airdrop, by itself, cannot be a securities offering, even if the airdropped tokens are pre-functional. Admittedly rare today but possible,” Santori said.<br />
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The Blockchain executive, who operates the most widely utilized cryptocurrency wallet platform in the world, added that the federal court “went out of its way” to reject the argument from the SEC that the mere act of distributing an asset through an airdrop or a token sale is a security as it doubled down on its stance that a token offering in itself is not a security.<br />
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An important element of the case was the requirement of the court to the SEC to prove that an investor bought the token because the investor was offered the security directly by the issuer. For instance, if an investor in an ICO is to file a lawsuit against the project, the investor will need to prove, somehow, that the investor invested in the token sale directly by looking at the website, whitepaper, or some other information offered by the issuer.<br />
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<b>More Complex to Sue an ICO</b><br />
The recent federal court ruling created a more complex environment for both the SEC and investors in ICOs to challenge the issuer of a token and to claim that a token is a security based on U.S. regulations.<br />
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Santori added that the precedent established by the Blockvest case has raised the bar for any plaintiff seeking to sue ICO issuers:<br />
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“As my colleagues in twitter law have stated, SEC pretty much got what it wanted with regard to Blockvest. No bloody noses here. The precedent, though, is lasting, and definitely raises the bar for any plaintiff – public or private – seeking to sue ICO issuers. It’s going to be more complex, I think, than any of us realized. And a lot gets lost in the world of ICOs, like remembering.”<br />
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Source: <a href="https://www.ccn.com/monumental-federal-court-rules-case-in-favor-of-crypto-ico-against-sec/">https://www.ccn.com/monumental-federal-court-rules-case-in-favor-of-crypto-ico-against-sec/</a><br />
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Gary Herickhttp://www.blogger.com/profile/15523847384755898784noreply@blogger.com0tag:blogger.com,1999:blog-1038785027769041452.post-69339820942094487942018-11-29T10:03:00.001-08:002018-11-29T10:03:43.594-08:00Blockchain Technology to Reach $3 Trillion by 2030<div dir="ltr" style="text-align: left;" trbidi="on">
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PwC Report: Blockchain Technology to Reach $3 Trillion by 2030</h2>
From <a href="https://cryptoslate.com/pwc-report-blockchain-technology-to-reach-3-trillion-by-2030/">CryptoSlate.com by Shaurya Malwa</a> August 28, 2018<br />
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PwC, a “Big Four” auditing firm, recently published research that found 84 percent of companies have either a “live” blockchain project or experiment underway.<br />
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China Primed to Lead Blockchain Innovation</h3>
The company surveyed over 600 executives from 15 countries–including the U.S., India, China, Africa and Sweden–with only 14 percent of respondents having “no involvement in blockchain technology.” (The sum does not equal 100 percent due to rounding.)<br />
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The study also found that 30 percent of respondents believe China is set to dominate blockchain development over the next five years, with only 18 percent backing the U.S.<br />
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Meanwhile, four out of five executives confirmed blockchain projects were underway at their organizations, with 15 percent of respondents having “live” networks up and running. Thirty-two percent of the firms are still developing their blockchain products, while 10 percent are running pilot models and 7 percent have “paused” research and development.<br />
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PwC cited a Gartner report forecasting a $3 trillion market value of blockchain business by 2030, with the survey recognizing ICOs and asset tokenization as a significant feature of the technology’s future.<br />
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Trust: A Compelling Concern</h3>
A vast majority of the respondents cited regulatory uncertainty and a lack of trust as the “biggest barriers” to mainstream technology adoption, with 45 percent terming it the most significant hurdle to adoption.<br />
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Steve Davies, a blockchain consultant at PwC, stated:<br />
<blockquote class="tr_bq">
“Businesses tell us that they don’t want to be left behind by blockchain, even if at this early stage of its development, concerns on trust and regulation remain.”</blockquote>
Davies added that blockchain technology is “trustless” in nature, but companies “confront trust at nearly every turn.”<br />
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Davies noted blockchain technology presents a considerable ecosystem for companies and is unlike an “IT project,” meaning it involves put down rules, robust regulations, globally-accepted standards and perennial flexibility toward regulatory decisions.<br />
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Blockchain Frameworks Defined</h3>
Survey results are understandably dominated by finance and fintech service companies, with 46 percent respondents calling it the “leading” sector in the coming years. Other identified disruptors were healthcare, industrial manufacturing and energy.<br />
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The study also identified four “key areas” for startups and large organizations looking to integrate a blockchain-based framework into their business. These include making the business case, building an ecosystem, concentrating on user-centric design and navigating regulatory uncertainty.<br />
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According to Davies:<br />
<blockquote class="tr_bq">
“A well-designed blockchain doesn’t just cut out intermediaries, it reduces costs and increases speed, reach, transparency and traceability for many business processes. The benefits can be compelling if organizations understand what their endgame is in using the technology, and match that to their design.”</blockquote>
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Source: <a href="https://cryptoslate.com/pwc-report-blockchain-technology-to-reach-3-trillion-by-2030/">https://cryptoslate.com/pwc-report-blockchain-technology-to-reach-3-trillion-by-2030/</a><br />
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Gary Herickhttp://www.blogger.com/profile/15523847384755898784noreply@blogger.com0tag:blogger.com,1999:blog-1038785027769041452.post-49545961516537874792018-11-24T09:20:00.002-08:002018-11-24T09:20:39.642-08:00Venture capital investments in cryptocurrency startups up 316% in 2018<div dir="ltr" style="text-align: left;" trbidi="on">
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Venture capital investments in cryptocurrency startups up 316% in 2018</h2>
From <a href="http://www.cryptomorrow.com/2018/11/23/venture-capital-investments-in-cryptocurrency-startups-up-316-in-2018/">Cryptomorrow.com by David Kariuki</a> Nov 23, 2018<br />
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A recent report by Outlier Ventures reveals that venture capital investments in the cryptocurrency industry attained a year-over-year growth of 316% to $2.85 billion from $900 million through the three quarters of 2018.<br />
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This indicates that more startups in the blockchain and cryptocurrency are turning to more traditional forms of funding even as the number of initial coin offerings or ICOs continued to decrease and raise lesser total amount of capital especially in the third quarter of this year. Of course, the report agrees with previous reports that many startups are now using a mix model of raising capital including ICOs and venture funding.<br />
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Outlier Ventures, for instance, says that in the 119 venture capital deals completed in Q3 of this year, venture capital share was the highest in total compared to the total in other quarters this year. VCs within the United States continue to drive these venture capital investments in blockchain and cryptocurrencies. The report states that with capital investments shifting away from tech-savvy retail investors toward VCs, hedge funds and ultimately larger institutional investors, "a large growth" in (startups) new businesses and services that are enabling institutional investors to enter the industry. Those new businesses and services are coming in the form of institutional-grade trading platforms, custody providers, etc that want to solve the technical complexity and risks of dealing with blockchain and crypto such as risk of users losing private keys.<br />
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A previous report last month from market research group Diar also indicated venture capital raised by blockchain and cryptocurrency startups had increased three-fold to $3.8 billion in 2018 compared to last year's total. This amount was raised from 2,000 investors (most from U.S. based dealmakers) across 384 deals. The report by Outlier Ventures says some startups in cryptocurrency and blockchain that do not require networks (online communities) to survive, have been avoiding token generation events called ICOs because of increasing legal expenses, marketing costs and community building efforts required. Of course, a lot of decrease in popularity of ICOs has come as a result of bear cryptocurrency market as being witnessed currently. ICOs, according to the new report, raised $1 billion down from $3.8 billion in Q1 representing a 74% decline since the start of the year.<br />
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That does not mean the token is unpopular: the report says that startups still believe that the tokens are foundational to Web 3.0 infrastructure and represent the opportunity for new business models. The role of the token is also evolving beyond fund raising into a model for business innovation and could expand as a way to engage, retain and attract users. The latter is being witnessed with chat apps like Kik, Telegram and Line implementing tokens.<br />
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Additionally, according to the report, FinTech innovation around crypto and blockchain is still alive and hot. For instance, there was introduction of a blockchain phone in the third quarter from HTC. Evolution of blockchain-based mobile devices and smartphones is expected to help reduce the "leak of personal data from phones and combine secure enclave security with blockchain-based verification and authentication systems." It says that future iterations of retail mobile devices will integrate blockchains as a method to " authenticate third parties accessing private data of individuals." Currently, the new hotness is zero knowledge according to the new report, with enterprises becoming further interested in zero knowledge proofs (ZKP) that for instance enable private transactions, authentication of entries on the ledger, and the verification of claims "without necessarily requiring access to the data itself."<br />
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Banking and financial institutions continue to lead in blockchain innovations as their fin-tech programs capitalize on blockchain-based open source projects according to the report.<br />
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The author is of the opinion that reduction in volatility could have resulted from "accumulation of tokens by larger more established players and retail investors (who are) no longer panic selling." The author notes that the current bear market, which has seen the market collapse from a high of $829bn in early January to currently around $200bn, is "very unattractive" for active cryptocurrency traders.<br />
According to the report, a lack of volatility for tokens has resulted to a drop in daily volumes from over $20 billion to slightly over $10 billion this quarter.<br />
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It says that a rise in alternative investment instruments in the market such as DARs from Citi Bank could further reduce the volume of Bitcoin futures contracts, which has already fallen this year and whose launch (CBOE's) "has not necessarily done much to positively impact the price of the token." Bitcoin futures are struggling partly because of the "heavy expenses involved in taking and maintaining positions."<br />
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The new report by Outlier Ventures does reiterate the role of and development of regulation around blockchain and crypto topics: more countries continue to make decisive regulatory determinations relating to the issue, and "forward-looking" countries have started to engage with "regional banking entities" to create a regulatory environment that captures the "vast economic gains." France, Thailand, Singapore, Switzerland and Thailand have pushed for the creation of ecosystems that enable token issuance this past quarter. Japan’s Financial Services Agency also enabled self-regulation of the industry through the ‘Virtual Currency Exchange Association. The UK, France and Switzerland are also exploring possibilities of enabling the token economy.<br />
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Source: <a href="http://www.cryptomorrow.com/">http://www.cryptomorrow.com/</a><br />
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Gary Herickhttp://www.blogger.com/profile/15523847384755898784noreply@blogger.com0tag:blogger.com,1999:blog-1038785027769041452.post-70406901972517291732018-11-23T16:00:00.002-08:002018-11-23T16:00:22.587-08:00Venture Capital Marketplace to Asia with VNX Exchange<div dir="ltr" style="text-align: left;" trbidi="on">
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VNX Exchange is bringing its tokenized venture capital marketplace to Asia with new Senior Vice President Zing Yang.</h2>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj5i80IIYYl4x2WgH-73ixiTSSJUfCQ6zZLzbZx-sz2ayt7Fw6fL8DexHIMRZ1H9fZjfcz9Q6smgmIg5o6Vojg40p7bYT9HlpF4LpMxnZ0WZhhw9Eg7HmN0fTHeqZHRRiIR2kHFp4Bq0C0/s1600/venture-capital-marketplace.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="311" data-original-width="576" height="172" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj5i80IIYYl4x2WgH-73ixiTSSJUfCQ6zZLzbZx-sz2ayt7Fw6fL8DexHIMRZ1H9fZjfcz9Q6smgmIg5o6Vojg40p7bYT9HlpF4LpMxnZ0WZhhw9Eg7HmN0fTHeqZHRRiIR2kHFp4Bq0C0/s320/venture-capital-marketplace.jpg" width="320" /></a></div>
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<a href="https://www.coinannouncer.com/vnx-exchange-appoints-zing-yang-to-act-as-its-senior-vice-president-in-the-asian-region/">From Coinannouncer.com By Eseandre Mordi</a> Nov. 22, 2018<br />
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The VNX™ exchange – with operational headquarters in Luxembourg, has begun implementation of its marketplace expansion plans. Such moves by the company are aimed at aptly covering newer territories outside the European axis so that more people can have access to some form of simplified token asset trading opportunities. Hence, the exchange’s action is substantially not unconnected with the perceived need for a viable framework that would facilitate the accomplishment of the company’s innovative business objectives for the cryptocurrency setting.<br />
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Consequently, VNX has finished its organizational internal formalities for the appointment of its new senior vice president- who would oversee company affairs in the Asian region. The senior executive ZingYang would be directly concerned with the company’s new business interactions in the Asian continent, and she is expected to execute tokenized digital currency venture asset projects that would paint the VNX’s company name and objectives in a positive limelight.<br />
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Functions and objectives of the VNX digital currency marketplace<br />
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According to operational objective and roadmap tendencies, the VNX exchange is designed to support an active community of digital asset buyers and sellers, on its tokenized asset venture capital supporting platform. The company’s objectives are directed at creating an impressive liquidity structure for the venture capital front, as well as providing an effective and proven means of fund sourcing for ingenious and prospective businesses- powered on a decentralized protocol, amongst others.<br />
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With the VNX exchange services, users can successfully explore the merits of prompt digital asset trading and investments, while leveraging on the value-added services as provided by the platform development and management team. Analysts say that the VNX operation methods are very much relevant in terms of simplifying the many risks and complexities of digital asset venture capital investments. By this, the platform creates an opportunity for both the experienced stakeholders and the newbie investors, to profitably engage in the platform’s hosted services.<br />
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Note that the platform assists users in a reasonable way, by enabling risk diversifications from the initial stages of user investment. This part of the framework is important because it shares off too much concentrated risks that could results in substantial losses for the investing user.<br />
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In order to ensure the effectiveness of its efforts, the VNX digital venture capital marketplace has also entered into top-notch partnerships with cryptocurrency key players- who would help in creating a synergy that brings good results for all the collaborating firms. One of such partnerships is the VNX and NEM blockchain partnership, which was also recently agreed upon. The collaboration has been able to incorporate an ability to produce different protocols and their corresponding security tokens, which would assist businesses and organizations that are hosted on the NEM network. This achievement fulfills one of the exchange’s foremost objective, which aims at facilitating the creation and provision of tokenized assets.<br />
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The VNX founder and boss, Alexander Tkachenko, has expressed the company’s readiness to follow through with seeing to it that digital venture capital investments are given a rightful place priority in the next few years.<br />
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Zing Yang’s responsibilities as the new Asian VNX service head<br />
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The new vice chief for the Asian market is charged with a number of responsibilities that are considered pivotal to the exchange’s success tendencies (or failures) in the new frontier. Zing Yang’s primary assignments are quite specific, and this would most likely take the bulk of her concentration for the earliest periods of her tenure.<br />
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Since the VNX company operations are still very much new in the region, she is expected to basically create some high-level user to company trust, which would allow for greater public participation in the solutions that the platform has to offer.<br />
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As part of the schedule for bringing this to light, she would be working to extend VNX company operations to countries such as Singapore, South Korea, and Hong Kong. These are places with significant cryptocurrency usage and investments; however the scope is not intended to limit on these countries alone, in the long run.<br />
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Asides this, Yang is charged with a responsibility of creating and enforcing a local footprint for the company, as well as building up a strong ecosystem- that stands the test of time, in the Asian axis. If the company’s intentions for its newfound operation location comes to fulfillment, then the company should have established a major stronghold in the coming days.<br />
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The new executive’s appointment comes as a well made choice, considering the fact that Yang has worked extensively in investment management fields, as well as other job descriptions involving public and private equity. She is an expert in digital currency and venture capital investments among others, with several years of active participation plus reasonable contributions made. She is currently a director at the Litecoin foundation, having served in other positions in various firms such as the capital group.<br />
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For more information, visit: <a href="https://vnx.io/">https://vnx.io/</a><br />
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Source: <a href="https://www.coinannouncer.com/vnx-exchange-appoints-zing-yang-to-act-as-its-senior-vice-president-in-the-asian-region/">https://www.coinannouncer.com/vnx-exchange-appoints-zing-yang-to-act-as-its-senior-vice-president-in-the-asian-region/</a><br />
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Gary Herickhttp://www.blogger.com/profile/15523847384755898784noreply@blogger.com0tag:blogger.com,1999:blog-1038785027769041452.post-91874994609343427742018-11-16T11:36:00.001-08:002018-11-16T11:36:17.668-08:00Crypto Startup Funding Bubble has Burst<div dir="ltr" style="text-align: left;" trbidi="on">
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'Unsustainable' crypto startup funding bubble has burst</h2>
From <a href="https://finance.yahoo.com/news/unsustainable-crypto-startup-funding-bubble-burst-080005455.html">Yahoo Finance UK by Oscar Williams-Grut</a> Nov. 15, 2018<br />
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The “initial coin offering” (ICO) funding market is being crushed by the “crypto winter”, according to two new reports.<br />
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ICOs are where startups and projects raise money by issuing digital coins or tokens, similar to bitcoin, in exchange for real money. The majority of tokens are snapped up by ordinary retail investors, cutting out venture capitalists and other early-stage institutional investors.<br />
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The fundraising method emerged in 2017 and almost 500 projects raised more than $5bn (£3.8bn) through ICOs last year. ICOs continued to be popular at the start of 2018, with the total raised through the method surpassing 2017 levels in April. But the market has since collapsed as cryptocurrency prices dived.<br />
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Reports from ICORating, an independent crypto ratings agency, and Outlier Ventures, a blockchain and crypto-focused venture capital firm, show that the third quarter was brutal for the market.<br />
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The amount of money raised and quality of startups declines, returns on investments were negative, and apparent scams have become commonplace.<br />
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The reports show:<br />
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<ul style="text-align: left;">
<li>Startups raised 48% less through ICOs in the third quarter compared to the second.</li>
<li>75% of startups trying to raise money had nothing but an idea.</li>
<li>The average return from ICO tokens in the quarter was -22%.</li>
<li>64% of attempted ICOs failed.</li>
<li>19% of companies that raised money through ICOs in the third quarter have deleted their websites and social media accounts, suggesting they were scams.</li>
</ul>
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Outlier Venture’s report blamed the “crypto winter” for part of the slowdown, while ICORating said it expects to see projects go bust in the coming months.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjQLGYNZJCMb17ZTGkuE1THAIqAdjdJ6ARYWFagaHa1yEfBXrEnwJBFwZRGXJ8uX9rBxpvLomz11C3Nt2PgvMJ5dUj3uHuRfrtjhnMzM9uo99nzv1zVaknJEfmfJSkLIj3oIG3KmrDZ68k/s1600/crypto-startup-funding.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Crypto Startup Funding" border="0" data-original-height="173" data-original-width="576" height="120" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjQLGYNZJCMb17ZTGkuE1THAIqAdjdJ6ARYWFagaHa1yEfBXrEnwJBFwZRGXJ8uX9rBxpvLomz11C3Nt2PgvMJ5dUj3uHuRfrtjhnMzM9uo99nzv1zVaknJEfmfJSkLIj3oIG3KmrDZ68k/s400/crypto-startup-funding.jpg" title="Crypto Startup Funding" width="400" /></a></div>
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On the slide: The number of ICOs and amount raised through the method has been steadily declining since May. Photo: ICORating.<br />
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“We expect some strongly hyped projects which raised significant funding to actually fail for a variety of reasons – due to being compromised as scams, to conflicts between founders, failure to deliver the promised technology or a failure of solutions offered to be widely adopted,” ICORating’s report said.<br />
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Jamie Burke, the founder and CEO of Outlier Ventures, told Yahoo Finance UK: “We knew what was happening towards the end of last year was unsustainable. The reason it was unsustainable was a lot of it was not tied to underlying value. Being more technically involved in the industry, we were aware that the hype was running ahead of technology.”<br />
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The majority of projects that raise money through ICOs rely on blockchain technology in some form or another. However, Burke said that the infrastructure is not yet developed enough to support many of the ideas that projects raised money for last year.<br />
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“The market got a bit of itself,” Burke said. “All the possibilities that blockchains and distributed ledgers offered, everybody rushed to try and realise those and the capital rushed to follow them. But the reality is the technical cycle is much further behind the market cycle.”<br />
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<b>‘A vast number are scams’</b><br />
ICORating’s report found scams are increasingly common in the market: 19% of ICO projects from the third quarter have already deleted their social network accounts and websites, suggesting they were scams. The projects collectively raised $62m, 3% of the total $1.8bn raised through ICOs in the third quarter.<br />
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“The key problem with ICOs is that a vast number of them are scams or scam-like projects,” the report said, noting that there has been an “an increasing lack of transparency from ICO teams/projects” that makes it harder to tell the good from the bad.<br />
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However, Burke said: “A large majority of ICOs shouldn’t have ICOed full-stop. Now, does that make them a fraud? I don’t think so. 90% of startups fail in their first three years. The numbers pretty much mirror traditional early-stage ventures.”<br />
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Outlier Venture’s report found that venture capital is increasingly filling the void left by ICOs when it comes to digital token-based projects. VCs have invested almost $3bn in these projects in 2018, which is “more venture capital inflow than all previous years combined,” according to Outlier Ventures.<br />
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“Although the number and size of public token fundraises has reduced, startups, corporates and regulators continue to believe that tokens are foundational to Web 3.0 infrastructure and represent the opportunity for new business models,” Outlier Ventures’ report said.<br />
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Burke said: “We don’t see ICOs as dead. They are just evolving as the industry professionalises.“<br />
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Source: <a href="https://finance.yahoo.com/news/unsustainable-crypto-startup-funding-bubble-burst-080005455.html">https://finance.yahoo.com/news/unsustainable-crypto-startup-funding-bubble-burst-080005455.html</a><br />
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Gary Herickhttp://www.blogger.com/profile/15523847384755898784noreply@blogger.com0tag:blogger.com,1999:blog-1038785027769041452.post-83357227739842506212018-11-15T18:47:00.000-08:002018-11-15T18:47:10.638-08:00Start-up Bitcoin Rewards Firm Raises $2.25 million<div dir="ltr" style="text-align: left;" trbidi="on">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhZxeKyEgi65Jwg5_K9u_V1Zcl-cRLIVodD4w5Hk4Uj94c2_9Y0BtXVfArwDPEoEQRwNJGnvKTATZ-eeCeRDdeoSmn4LRf5GH-4EpadnvKj3wBDGoKUSV7N_-GkM1QW4p6ONl45oHfSPM0/s1600/start-up-bitcoin.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Start-up Bitcoin" border="0" data-original-height="432" data-original-width="576" height="300" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhZxeKyEgi65Jwg5_K9u_V1Zcl-cRLIVodD4w5Hk4Uj94c2_9Y0BtXVfArwDPEoEQRwNJGnvKTATZ-eeCeRDdeoSmn4LRf5GH-4EpadnvKj3wBDGoKUSV7N_-GkM1QW4p6ONl45oHfSPM0/s400/start-up-bitcoin.jpg" title="Start-up Bitcoin" width="400" /></a></div>
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Bitcoin [BTC] rewards start-up raises $2.25 million; Bain Venture Capital one among the investors</h2>
From <a href="https://ambcrypto.com/bitcoin-btc-rewards-start-up-raises-2-25-million-bain-venture-capital-one-among-the-investors/">AMBcrypto.com by Priya</a>, Nov. 15, 2018<br />
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Earlier today, Lolli, a Bitcoin rewards start-up announced that they have raised $2.25 million in their seed round. The start-up gained investment from the top-notch players across the globe.<br />
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This included Bain Capital, a private investment firm based in Boston, Version One, Digital Currency Group, Forerunner Ventures, 3K VC, Quaker Health Ventures, SV Angel, FJ Labs, and Rugged Ventures. More so, the company stated that they gained investment from the “some incredible strategic angels.”<br />
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With the investment raised in their seed round, the start-up will be making further improvements on their product, add more merchants, increase the strength their team and increase the adoption of Lolli.<br />
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The reward application enables users to gain free Bitcoin when they shop online. This includes various industries such as lifestyle, trade, food, and fashion. Lolli has partnered with over 500 online retail merchants. The company which works towards making Bitcoin more accessible has successfully added Hilton, Marriott, GoDaddy, Priceline, Booking.com, Walgreens, VRBO, and CVS to their partnership list.<br />
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The CEO and Founder of Lolli, Alex Adelman, in an interview with The Block said:<br />
<br />
<b>People haven’t really thought about the consumer. People want to earn bitcoin more than they want to spend it. You can attract young, affluent users who are tech-savvy if you offer them bitcoin”</b><br />
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Adelman further added:<br />
<br />
<b>“We are working with international retailers. Bitcoin is inherently international”</b><br />
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According to The Block, Angela Tran Kingyens, a partner at Version one said:<br />
<br />
<b>“Lolli makes it incredibly simple for people to earn bitcoin when they shop online. All a user has to do is sign up for Lolli and shop at one of 750+ top online stores, and they will automatically get bitcoin deposited to their Lolli wallet. The simplicity of the product and mass appeal of shopping will lead to broader adoption of bitcoin.”</b><br />
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Source: <a href="https://ambcrypto.com/bitcoin-btc-rewards-start-up-raises-2-25-million-bain-venture-capital-one-among-the-investors/">https://ambcrypto.com/bitcoin-btc-rewards-start-up-raises-2-25-million-bain-venture-capital-one-among-the-investors/</a></div>
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Gary Herickhttp://www.blogger.com/profile/15523847384755898784noreply@blogger.com0tag:blogger.com,1999:blog-1038785027769041452.post-21419512054318027282018-11-15T18:23:00.002-08:002018-11-15T18:23:43.121-08:00IPOS Are Having a Record-Breaking Year<div dir="ltr" style="text-align: left;" trbidi="on">
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A RECORD-BREAKING YEAR FOR IPOS</h2>
<a href="https://angel.co/newsletters/a-record-breaking-year-for-ipos-111518">AngelList Weekly, November 15, 2018</a><br />
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2019 is shaping up to be a breakout year for tech IPOs.<br />
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The economy is strong, unemployment rates are low, and investor optimism is high with rising tech valuations. Airbnb, Slack, and Lyft could all go public within the next year, and despite its slowing growth, Uber is among the most anticipated offerings in years.<br />
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The ride-sharing company's latest valuation sits just over $70 billion, but recent estimates could have it pegged at upwards of $100 billion. Even though Uber announced $1.07 billion in third-quarter losses Wednesday, it still has the potential to be the biggest IPO in history. Alibaba currently holds that title for its $25 billion offering in 2014, but at a rumored valuation of $120 billion, Uber would only need to offer a fraction of its shares to take the crown.<br />
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For comparison, Uber’s possible $120 billion valuation would be roughly four times Airbnb’s current $31 billion, eight times Lyft’s $15 billion, and over 17 times Slack’s $7 billion.<br />
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The numbers are staggering in their own right, but their potential is even more impressive when you consider activity from earlier this year. In the first quarter of 2018, "the median IPO size for U.S., VC-backed companies was $110 million," according to a Pitchbook analysis.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjwP4T2XIEne0YpNTzjk2DN-jjdLLRPRWMHSuiFsjxt7D39hzBRU1l6_yrrfbl9fyY6HvaQvnJlR7ZAEoN2s23r0JjUAe6FNjMyYtg5rVnfr6UuPLKhkUeCNv9npJZ3sKdqVO4Ch8H2jPk/s1600/ipos-record-breaking-year.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="IPOS Are Having a Record-Breaking Year" border="0" data-original-height="297" data-original-width="576" height="206" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjwP4T2XIEne0YpNTzjk2DN-jjdLLRPRWMHSuiFsjxt7D39hzBRU1l6_yrrfbl9fyY6HvaQvnJlR7ZAEoN2s23r0JjUAe6FNjMyYtg5rVnfr6UuPLKhkUeCNv9npJZ3sKdqVO4Ch8H2jPk/s400/ipos-record-breaking-year.jpg" title="IPOS Are Having a Record-Breaking Year" width="400" /></a></div>
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By the end of September, 173 U.S. IPOs had raised just over $45 billion, according to data from PwC. That's almost a 50% increase compared to the same period in 2017. And while 2018 has seen the strongest IPO activity since 2014, if the tech giants currently expected to go public in 2019 follow through, we’ll have a front-row seat to record-breaking activity.<br />
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As Bloomberg aptly described it: "The last time three 11-figure U.S. tech companies went public in the same year, Bill Clinton was president and Apple Inc. was worth less than 1% of Microsoft Corp. That was 2000, when, with air leaking out of the dot-com bubble, the company that made the Palm Pilot was valued at $21 billion."<br />
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Source: <a href="https://angel.co/newsletters/a-record-breaking-year-for-ipos-111518">https://angel.co/newsletters/a-record-breaking-year-for-ipos-111518</a><br />
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Gary Herickhttp://www.blogger.com/profile/15523847384755898784noreply@blogger.com0tag:blogger.com,1999:blog-1038785027769041452.post-55014272504619730282018-11-11T19:24:00.000-08:002018-11-11T19:25:43.277-08:00VC Funding: Turning it Down Might Be Good for Your Business<div dir="ltr" style="text-align: left;" trbidi="on">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiF-aAHbY3BLW066y-4VQ5gbP4La1H_MuxEXfi5GbgzX9fX4D6mzajlPzwNAVLkl7XxoBgybdEryWwvzwnoq-cbxjbtbrhspqn6rmQlgPI6uNfsj1KCcIG8foPQI_JceNvDVab23Clpq-4/s1600/vc-funding.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="VC Funding" border="0" data-original-height="432" data-original-width="576" height="300" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiF-aAHbY3BLW066y-4VQ5gbP4La1H_MuxEXfi5GbgzX9fX4D6mzajlPzwNAVLkl7XxoBgybdEryWwvzwnoq-cbxjbtbrhspqn6rmQlgPI6uNfsj1KCcIG8foPQI_JceNvDVab23Clpq-4/s400/vc-funding.jpg" title="VC Funding" width="400" /></a></div>
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Why Not Getting VC Funding Might Be Better for Your Business</h2>
<div style="text-align: left;">
<b>
Here's why lifestyle businesses appeal to so many entrepreneurs.</b></div>
From <a href="https://www.entrepreneur.com/article/322417">Entrepreneur.com by Jim Price</a>, Nov. 6, 2018<br />
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When I started teaching a new venture creation elective to MBAs 15 years and over 2,000 students ago, I'd tell my student teams they each had to come up with -- and develop a compelling plan for -- a (theoretically) VC-backable startup concept. Made sense, right? MBAs wanted to be part of building the Next Big Thing, and venture capital-backed startups had driven a massive tech boom over the prior decade -- a wave I'd been lucky enough to ride.<br />
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But, it didn't take me long to ease up on that "it's gotta be VC-backable" requirement. Looking back, I had three reasons for that shift:<br />
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Startup lessons tend to apply across the board: First, folks immersed in the action-based learning exercise of mapping out a startup consistently reported back, after reentering the workforce, that they were able to apply those learnings and frameworks to almost any entrepreneurial -- or intrapreneurial -- experience in their careers.<br />
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Many people find low-tech businesses more appealing: Second, a lot of teams would come up with quite interesting but low-tech startup ideas. As I discussed in my recent article, "Who Would Invest in Your Startup, and Why?," low-tech businesses rarely represent interesting investments to VCs, primarily because of low valuation multiples (often due to limited growth upside).<br />
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A vanishingly small proportion of all startups raise VC financing: Finally, I looked at the numbers and realized that most startups -- indeed, even most very successful startups -- do not raise money from venture capitalists. According to statistics from the U.S. Census Bureau, 2017 saw approximately 556,000 business applications from corporations (what they call CBAs) in the U.S. (That's only about 18 percent of all new business applications, to make sure we're not counting sole proprietorships, two- to three-person professional services practices, and so on.) Meanwhile, Venture Monitor data from PitchBook and the National Venture Capital Association tells us that, during the same period, U.S. "first financings" from VCs (as opposed to follow-on financings) numbered 2,676, or less than one-half of 1 percent of new corporations started. Now granted, first financings from VCs will tend to occur one to three years after a company first incorporates, but the statistics year-to-year are similar enough that the proportionality doesn't change in a meaningful way.<br />
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But, what I teach and how I teach it completely aside, my real "a-ha" has been a growing appreciation for non-VC-backable startups and how they can represent a genuinely appealing path for many entrepreneurs. Let's look at the positive side of the ledger for so-called lifestyle businesses:<br />
<br />
<b>Ownership and control</b><br />
Raising equity financing from VCs -- or, for that matter, angels -- comes with a downside that few talk about: pressure to achieve a liquity event (sale of the company or IPO) within a fairly short time horizon (we're talking three to six years, typically). Since your company needs to be pretty massive to go public, we're really talking about pressure to sell the company. If you don't raise equity financing, you're in far better control of your own destiny. If you're in a reasonably protected niche, you've got the luxury of time to grow at a more leisurely pace. It's also up to you as to whether you want a board or directors and/or advisory board, and whom you want to invite to join.<br />
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<b>Less dependency and greater chances of success</b><br />
On the one hand, you'll need to fund your lifestyle businesses through savings, credit cards, friend-and-family loans, bank lines of credit, small business loans and the like. And while it may sound sexier to load up on lots of VC rocket fuel for your startup, as we've discussed, that funding path assumes you'll be one of the select few who's successful in attracting VC investment, and it comes with outside pressure to "go big or go home" and sell the company. So in general, you can think of well-crafted lifestyle businesses as being lower upside, but also lower risk. Taking the lifestyle business route, you stand a higher chance of getting airborne and achieving some level of success.<br />
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<b>More options in life</b><br />
If you own and control the business, you can decide the degree to which you choose to grow it aggressively to maximize cash flow or wealth, versus taking a more casual approach. Perhaps you'll decide to build the business to a certain plateau and then simply manage it for free cash flow that makes work an option. And, building a lifestyle business in this fashion by no means precludes eventually selling the company if you choose -- or, alternatively, handing it down to your kids some day.<br />
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<b>You can still leverage technology.</b><br />
Whereas a lot of lifestyle businesses are low-tech in nature, increasingly, we're finding that even those entrepreneurs are creatively leveraging technology to successfully launch, grow and become more profitable. Social media campaigns, search-optimized websites, customer newsletters and referral networks can all play a crucial role. And behind the scenes, smart lifestyle entrepreneurs are exercising the muscle of low-cost, online tools for everything from brand management to accounting and finance, inventory control, customer relationship management, point-of-sale tools and HR management.<br />
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Building a VC-backed startup can be bracing and both personally and financially rewarding. Been there, got the t-shirt. But, nobody's going to feel sorry for you if you get your lifestyle startup to the point where you've created life options such as hiring a general manager and calling in from the lake house a couple of times a week to check in.<br />
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Source: <a href="https://www.entrepreneur.com/article/322417">https://www.entrepreneur.com/article/322417</a><br />
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Gary Herickhttp://www.blogger.com/profile/15523847384755898784noreply@blogger.com0tag:blogger.com,1999:blog-1038785027769041452.post-58901966521558345592018-11-07T11:58:00.001-08:002018-11-07T11:58:32.916-08:00Blockchain Startups<div dir="ltr" style="text-align: left;" trbidi="on">
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<h2 style="margin-bottom: 0in; text-align: left;">
How To Grow Your Startup With Blockchain In 2019?</h2>
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<a href="https://medium.com/swlh/how-to-grow-your-startup-using-blockchain-in-2019-44d4e6682147">From TheStartup on Medium, by Mantra Malhotra</a>, Nov. 1 2018</div>
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2019 is coming and Blockchain has gained a huge popularity in a very short period of time. Currently, it is helping reshape industries in multiple domains viz. Healthcare, finance, manufacturing, education, and government.</div>
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It will continue to evolve more and be used in many innovative ways. So, it is the peak time to leverage Blockchain for transforming your business and reshaping your target industries.</div>
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<b>Before we start discussing how Blockchain technology can help your business grow in the near future, just take a close look at some interesting Blockchain stats:</b></div>
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As per Statista, it was expected in 2017 that the global Blockchain technology market would reach 339.5 million U.S. dollars in size and is expected to grow to 2.3 billion U.S. dollars by 2021.</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgW-gtInVy6Yu_HFYfLm8NPMrRt2rSnkl6xX4ihZDplX8YYMaO4AwIPGHrrdLiSQIPm2mh7PF27omYJpPB4Jg-jaAeTy3p0XtFbEmIiQmFQA8SldYre2w2qvinUIlLzwOaadCKEFP9sdTA/s1600/blockchain-startup.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Blockchain Startup" border="0" data-original-height="614" data-original-width="1139" height="215" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgW-gtInVy6Yu_HFYfLm8NPMrRt2rSnkl6xX4ihZDplX8YYMaO4AwIPGHrrdLiSQIPm2mh7PF27omYJpPB4Jg-jaAeTy3p0XtFbEmIiQmFQA8SldYre2w2qvinUIlLzwOaadCKEFP9sdTA/s400/blockchain-startup.png" title="Blockchain Startup" width="400" /></a></div>
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According to the latest survey from IBM, it suggests that 65 percent of major global banks will use Blockchain technology within just three years. As per the reports by the same source, 17% of Banks will go to have full Blockchain product.</div>
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In terms of its usage, according to Statista, about 53 percent of respondents stated that their companies are working on a supply chain use case.</div>
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<b>In this blog, we will discuss some ways using which you can build your own business with Blockchain technology and the respective apps.</b></div>
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<b>Below given the list of such ways/strategies:</b></div>
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<b>1) Connect with Blockchain</b></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjtAA__nEQNAbCy5AIb_00jycfBd_OdWdpcAH4PYBza_vny-VQajQgtMHOGYK6_Um-ueoZzTj68RzuEAoq-rbOizRXW2Xwq0xS0BEQfFx3sYZhtLvCkfuAhybGCn-NF_7etYKe4llJln1I/s1600/blockchain-startup2.jpg.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Blockchain Startups" border="0" data-original-height="667" data-original-width="1000" height="265" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjtAA__nEQNAbCy5AIb_00jycfBd_OdWdpcAH4PYBza_vny-VQajQgtMHOGYK6_Um-ueoZzTj68RzuEAoq-rbOizRXW2Xwq0xS0BEQfFx3sYZhtLvCkfuAhybGCn-NF_7etYKe4llJln1I/s400/blockchain-startup2.jpg.jpeg" title="Blockchain Startup" width="400" /></a></div>
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As a startup, first, you come up with a new and fresh business idea. It doesn’t matter how difficult your traditional startup business idea may seem, technology can make it look perfect and seamless.</div>
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Whether you want to start a business or scale the one you are already running, blockchain can help you in a number of ways. Some of these are listed below:</div>
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<i>-> Help you with marketing via its transparency feature and accurate tracking.</i></div>
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<i>-> Help you with funding through Blockchain ICOs.</i></div>
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<i>-> Help you with security through its cryptographic system.</i></div>
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So use the above ideas and integrate them into your startup business which can make your next success story for a long period of time.</div>
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2) Use Blockchain-powered ICO</h3>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhRCr2vSZX-pJZjcJhF5cwciDfGNTYXjBUQj2yu3pyLdkYVUvWOd7BLJzmN56KlQ1PRdUjtJdOlB8zEs8CJqGes4zg7GsL65vk4iYeUbxagcl2lmQ2urumxBNfa_9BJ7LAX68pMr1YUSBU/s1600/blockchain-startup3.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Blockchain Startup" border="0" data-original-height="628" data-original-width="1200" height="208" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhRCr2vSZX-pJZjcJhF5cwciDfGNTYXjBUQj2yu3pyLdkYVUvWOd7BLJzmN56KlQ1PRdUjtJdOlB8zEs8CJqGes4zg7GsL65vk4iYeUbxagcl2lmQ2urumxBNfa_9BJ7LAX68pMr1YUSBU/s400/blockchain-startup3.png" title="Blockchain Startup" width="400" /></a></div>
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If you are a startup and have a great business idea, one that you are sure your target audience will love. But not having the necessary funds to advance your startup vision. Then no need to worry now as it is a common problem for all startup businesses. Traditional venture capital is actually difficult to achieve.</div>
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Today, the Blockchain technology initial coin offerings (ICO) throw good news for aspiring entrepreneurs. Start thinking of the ICOs as a way to democratize the initial financing. They provide a platform to raise funds from individual investors, assuring emerging entrepreneurs that no one is alone in this.</div>
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<b>Few things to take care of when you are starting a business with Blockchain are mentioned below:</b></div>
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<i>-> Refine your idea</i></div>
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<i>-> Configure the blockchain for your new token</i></div>
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<i>-> Receive the seed capital to finance your new company</i></div>
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A number of your competitors are already benefiting from these offers, attracting huge sums of money from the ICO driven by blockchain. According to Coindesk reports, in the second quarter of 2017, entrepreneurs raised about $ 291 million through ICO, compared to $ 187 million in traditional risk funds.</div>
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Make sure you have the technical expertise to consume all the benefits that ICO has to offer. For this, you can hire a developer to help you in this effort as they can make sure that your ICO driven by blockchain serves not only to raise funds but also as a tool to create steady growth.</div>
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3) Use crypto to run your ads</h3>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgEEuYiAXJi09yolNfvtqbNRP6S6BkEMZ76_8W7ZVE4hf4h-tFAtJp8jliSqVPdE-g6ggRrg0ouoPO_y2yMEhmh5iA4WBsNUhwyhvkBQaBn_y_RYwR4oER7Mb5ouvzowO5qT10Q_DM3ygE/s1600/blockchain-startup4.jpeg.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="646" data-original-width="1000" height="257" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgEEuYiAXJi09yolNfvtqbNRP6S6BkEMZ76_8W7ZVE4hf4h-tFAtJp8jliSqVPdE-g6ggRrg0ouoPO_y2yMEhmh5iA4WBsNUhwyhvkBQaBn_y_RYwR4oER7Mb5ouvzowO5qT10Q_DM3ygE/s400/blockchain-startup4.jpeg.jpg" width="400" /></a></div>
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In order to grow your startup business, it is important to promote it properly. In an era of widespread online advertising frauds that attract attention, promoting your startup business can be challenging as building and executing it.</div>
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Desperate to promote their products, startups often bombard their customers with torrents of bulletins, coupons, practical guides, and innumerable advertisements.</div>
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The reasons usually lack attention because business leaders do not really know what exactly their clients want. They are simply waiting for their messages to attract enough customers.</div>
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However, crypto can professionally address groups of key customers with messages that resonate with them. Blockchain combines an excellent level of tracking and transparency with the ability to collect accurate data. Together with this, it guarantees the optimal frequency of ad display for each consumer.</div>
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4) Cryptography protects your startup</h3>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjwX_qTpmsSN2BTaxoBj5XYnJcnessGXCen0_TUH0GhncAw8DeucZHk1EDswef0uHM6Zl5G0Hfdydr82JoEmsVH_GQJOkOWxjA-sFMbhLSEZOyllo9Urhvz8opzM_87BI1pc2MAs8xPGZ0/s1600/blockchain-startup4a.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Blockchain Startup" border="0" data-original-height="720" data-original-width="1280" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjwX_qTpmsSN2BTaxoBj5XYnJcnessGXCen0_TUH0GhncAw8DeucZHk1EDswef0uHM6Zl5G0Hfdydr82JoEmsVH_GQJOkOWxjA-sFMbhLSEZOyllo9Urhvz8opzM_87BI1pc2MAs8xPGZ0/s400/blockchain-startup4a.jpeg" title="Blockchain Startup" width="400" /></a></div>
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As we already know that cryptography can protect your data online, defend your e-commerce site, and protect your company’s files better than any other solution.</div>
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Powered by the digital signature, as well as by private and public keys, cryptography is an incredible solution for protecting your data in today’s digital business world. The reason behind its success is that it transmits information in codes. Thus, keeping the data illegible for unauthorized users.</div>
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Youngwhan “Nick” Lee, CEO of EcoVerse and founder of the W3C Blockchain community said that “Transaction logs are verified every time they move from one blockchain node to another,” and “That helps you track and review your audits. Simple and seamless fashion.”</div>
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However, you can take the cryptography beyond the protection of the data of your startup. It can help authenticate your potential customers, separating real buyers from cybercriminals.</div>
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<b>Some major blockchain apps are listed below that can help your business:</b></div>
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<i>- Apps for Notary: Uproov</i></div>
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<i>- Apps for Distributed cloud storage: Storj</i></div>
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<i>- Apps for Supply chain communications</i></div>
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<i>- Apps for Smart Contracts</i></div>
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<i>- Apps for Payments and money transfers</i></div>
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<i>- Apps for Digital identity</i></div>
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<i>- Apps for Networking & IOT</i></div>
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<i>- Apps for Gift cards: Gyft Block</i></div>
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Conclusion:</div>
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So far we have seen the list of strategies/ways in which your startup can build a great business. Using the above-mentioned ideas, it will help you quickly develop blockchain applications to redefine your startup business networks.</div>
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In addition, by hiring a reliable blockchain web development company such as ValueCoders, you can achieve this goal.</div>
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At <a href="https://www.valuecoders.com/">ValueCoders</a>, we have a proficient team of Blockchain web developers who have successfully delivered more than 4200 projects to more than 500 happy customers along with their expert software testing services around the world.</div>
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Source: <a href="https://medium.com/swlh/how-to-grow-your-startup-using-blockchain-in-2019-44d4e6682147">https://medium.com/swlh/how-to-grow-your-startup-using-blockchain-in-2019-44d4e6682147</a></div>
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Top funded blockchain startups &
companies by total funding raised:</h3>
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Number of </div>
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Funding </div>
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Rounds</div>
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Total </div>
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Funding </div>
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Amount</div>
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<td width="258">
Coinbase<br />
</td>
<td width="211">
7<br />
</td>
<td width="172">
$525.3M<br />
</td>
</tr>
<tr>
<td width="258">
Circle<br />
</td>
<td width="211">
5<br />
</td>
<td width="172">
$246M<br />
</td>
</tr>
<tr>
<td width="258">
Qulian Technology<br />
</td>
<td width="211">
3<br />
</td>
<td width="172">
CN¥1.5B<br />
</td>
</tr>
<tr>
<td width="258">
Bitfury Group<br />
</td>
<td width="211">
5<br />
</td>
<td width="172">
$170M<br />
</td>
</tr>
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<td width="258">
HashCash Consultants<br />
</td>
<td width="211">
3<br />
</td>
<td width="172">
$150M<br />
</td>
</tr>
<tr>
<td width="258">
Figure<br />
</td>
<td width="211">
2<br />
</td>
<td width="172">
$100M<br />
</td>
</tr>
<tr>
<td width="258">
Blockchain Industries Inc<br />
</td>
<td width="211">
1<br />
</td>
<td width="172">
$100M<br />
</td>
</tr>
<tr>
<td width="258">
Oasis Labs<br />
</td>
<td width="211">
5<br />
</td>
<td width="172">
$90M<br />
</td>
</tr>
<tr>
<td width="258">
Ledger<br />
</td>
<td width="211">
4<br />
</td>
<td width="172">
$85.1M<br />
</td>
</tr>
<tr>
<td width="258">
High Fidelity<br />
</td>
<td width="211">
5<br />
</td>
<td width="172">
$72.9M<br />
</td>
</tr>
</tbody>
</table>
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Gary Herickhttp://www.blogger.com/profile/15523847384755898784noreply@blogger.com0tag:blogger.com,1999:blog-1038785027769041452.post-28279696166986283422018-11-05T08:14:00.000-08:002018-11-05T08:14:14.499-08:00Venture Capital Funding for Coinbase - $300 Million<div dir="ltr" style="text-align: left;" trbidi="on">
<h2 style="text-align: left;">
Venture Capital Funding for Coinbase in $300M Series E Round</h2>
From <a href="https://vcnewsdaily.com/coinbase/venture-capital-funding/thzywhvhrd">VCnewsdaily.com</a> 2018-10-30<br />
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SAN FRANCISCO, CA, Coinbase, a cryptocurrency exchange, has raised $300 million in Series E funding.<br />
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According to Fortune, Coinbase, the most popular <a href="https://garyherick.blogspot.com/2018/10/blockchain-capital-funding.html">cryptocurrency</a> exchange in the U.S., announced on Tuesday a massive Series E venture capital funding round that values the company at $8 billion.<br />
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The company announced the $300 million investment in a blog post, which said the venture capital funding is being led by New York-based Tiger Global, and will be used to accelerate global expansion and the offering of more cryptocurrencies.<br />
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"We see hundreds of cryptocurrencies that could be added to our platform today and we will lay the groundwork to support thousands in the future," wrote Coinbase Chief Operating Officer Assif Hirji in the post.<br />
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Currently, Coinbase only offers Bitcoin and a handful of other cryptocurrencies, in part due to concerns that many digital currencies may be securities that must be registered with the Securities and Exchange Commission.<br />
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The latest venture capital funding round, which follows a $100 million round in August of 2017, is being led by New York-based Tiger Global with contributions from Y Combinator Continuity, Wellington Management, Andreessen Horowitz, and Polychain Capital among others.<br />
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A source close to Coinbase told Fortune the company will also be bringing on other investors in the near future via a secondary offering worth $200 million or more. This offering would serve as a vehicle for some employees and early investors to cash in their shares, and would not change the overall amount of venture capital funding raised by Coinbase.<br />
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The Series E venture capital funding round also points to Coinbase possibly going public in 2019. While the company hasn't discussed a specific timeline to go public, CEO Brian Armstrong recently stated he would like to run a public company.<br />
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Source: <a href="https://vcnewsdaily.com/coinbase/venture-capital-funding/thzywhvhrd">https://vcnewsdaily.com/coinbase/venture-capital-funding/thzywhvhrd</a><br />
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Gary Herickhttp://www.blogger.com/profile/15523847384755898784noreply@blogger.com0tag:blogger.com,1999:blog-1038785027769041452.post-65280383085445564462018-11-01T13:18:00.002-07:002018-11-01T13:18:10.589-07:00Funding for Startups in the D.C. Area Reached $50 Million in October<div dir="ltr" style="text-align: left;" trbidi="on">
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Funding Roundup: D.C.-Area Startups Raised $50M in October</h2>
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<a href="https://www.americaninno.com/dc/funding-dc/funding-roundup-d-c-area-startups-raised-50m-in-october/">By Kieran McQuilkin</a> - October 31, 2018<br />
Topic: Funding for Startups<br />
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October was another quiet month volume-wise for DMV term sheets, with just one high-value deal moving big money into the local startup scene and several around $4 million and $5 million. At least 11 D.C. metro-area startups (including Baltimore) raised a combined $50 million in funding, led by an eight-figure venture round by Bethesda data analytics company Aledade.<br />
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The biggest tech funding deal came from D.C.-based sales software company Afiniti, which quietly raised $130 million in a Series D round, valuing it at $1.6 billion and making it the metro area’s newest unicorn. Since it was founded in 2016, it aged out of our startup roundup, but was a notable capital infusion nonetheless.<br />
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A few investment groups got in on the action as well, with the opening of a $300 million fund for a District-based venture capital firm and the closing of a Vienna firm’s first outside fund of $250 million.<br />
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FYI, we cover startup funding news in the DC Inno Beat newsletter every weekday. Stay on top of who’s getting funded by signing up here. See you in the inbox.<br />
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Below are the 11 local startups that raised capital in October.<br />
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Aledade, a Bethesda-based data analytics software company that helps doctors cut costs on readmissions, raised $23 million in new venture funding. Palo Alto-based Meritech Capital Partners led the round, contributing $15 million. The new money is a continuation of a prior round, and it adds to a $23 million round late last year.<br />
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On-demand technology repair company Fixt hauled in $6.5 million in Series A funding. The round was led by San Francisco-based Precursor Ventures and U.S. Cellular, with participation from Naples Technology Ventures and additional existing investors. The Baltimore-based startup previously raised a $1.4 million seed round in early 2016.<br />
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Columbia, Md.-based Zentail, which helps small retailers manage their e-commerce operations across websites like Amazon and eBay, raised $5 million. Initialized Capital led the Series A round for the 3-year-old startup, with participation from FundersClub. It has previously raised $1.2 million in seed funding.<br />
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Baltimore startup Hunt a Killer, which sells subscription boxes with mystery puzzles is seeking up to $5 million in venture capital to support customer growth and new products. It expects to have 50,000 customers by yearend. Last month, the company also announced a long-term $8 million funding deal from Clearbanc.<br />
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UMB-born biotech startup Breethe has raised at least $3.5 million of a $5 million funding round toward its quest to create artificial lungs. It spun out of the university in 2014 and is backed by more than $5 million in previous funding, including a $3 million round reported in December last year.<br />
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D.C.-based nonprofit edtech startup CommonLit is continuing its blockbuster growth with a $3.5 million grant from Google. In June this year, CommonLit nabbed $4 million in funding from backers including AT&T, Teach for America, the EPIC Foundation, Arthur Rock Foundation and others.<br />
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Bethesda-based cybersecurity startup Syncurity closed a $2 million round of investment. The new funding was led by the Maryland Technological Development Corporation, better known as TEDCO, which has made a variety of startup investments. Syncurity, founded by JP Bourget in 2014, raised an undisclosed seed round in 2014 and $380,000 in 2016.<br />
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Byte Back, a nonprofit that offers technology training and job placement to underserved populations in the D.C. area, is expanding its services to Baltimore with a $775,000 grant from TD Bank. The grant came as part of the inaugural TD Ready Challenge, which this year focused on financial security and awarded the same total to 10 organizations in the U.S. and Canada.<br />
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D.C.-based voice app creator XAPP Media raised at least $750,000 from seven investors in a maximum $2 million equity round, according to SEC filings. The company has launched and manages over 1,000 apps on Amazon Alexa, Google Assistant and Microsoft’s Catana. It’s no stranger to fundraising, having hauled in $11.3 million in capital since 2014, according to a Crunchbase tally.<br />
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Maryland-based AI startup RedShred was awarded a $745,000 Small Business Innovation Research Phase 2 grant from the National Science Foundation. The grant will be provided over 18 months for development and commercialization of its technology, which analyzes and produces summaries of lengthy proposal documents for government contractors, grant researchers and universities. The company previously was awarded a $225,000 Phase 1 SBIR grant in 2016.<br />
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David Adler, founder and CEO of event-planning platform BizBash Media, along with his company and family invested over $500,000 in D.C.-based startup Goodshuffle. Goodshuffle launched four years ago and makes a software tool designed for event rental, production and entertainment companies to manage inventory, track sales and streamline operations.<br />
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A pair of investment companies made moves in October as well:<br />
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D.C. venture capital firm Updata Partners opened a $300 million raise for its latest fund. The fund, which targets later-stage companies and provides growth funding, has invested in several D.C.-area startups, including real estate platform Homesnap and content creation platform Storyblocks. According to its website, the VC firm has raised $750M in committed capital and invested in more than 40 companies.<br />
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Vienna-based growth equity firm Aldrich Capital Partners closed on its first outside fund, raking in $256 million. The investment company had previously used a self-funded $50M to invest in several startups, including Cofense, which sold for $400 million this year. Aldrich partners said the fund will be aimed at companies in healthcare IT, fintech and software that are still led by their founders and haven’t yet raised institutional funding.<br />
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Source: <a href="https://www.americaninno.com/dc/funding-dc/funding-roundup-d-c-area-startups-raised-50m-in-october/">https://www.americaninno.com/dc/funding-dc/funding-roundup-d-c-area-startups-raised-50m-in-october/</a><br />
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Gary Herickhttp://www.blogger.com/profile/15523847384755898784noreply@blogger.com0tag:blogger.com,1999:blog-1038785027769041452.post-86267619726423096142018-10-29T09:05:00.001-07:002018-10-29T09:05:26.700-07:00Crypto Startups Welcomed by Boost VC<div dir="ltr" style="text-align: left;" trbidi="on">
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Boost VC Issues Call for Crypto Startups</h2>
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From <a href="http://ccn.com/">CCN.com</a> Oct 29, 2018<br />
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Technology startup accelerator Boost VC has announced that it is accepting applications from crypto startups to join Tribe 12, its latest accelerator program cohort. Since 2012, Boost VC has graduated several cohorts with more than 75 crypto-related projects including prominent blockchain projects like Etherscan, Aragon, and MyCrypto.<br />
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According to the announcement, which appeared in a Medium post, the company is seeking to invest in blockchain startups that provide solutions for cross chain functionality, front end blockchain solutions, crypto team building and maintenance, and general blockchain scaling.<br />
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<b>‘Missing Puzzle Pieces’</b><br />
Boost VC describes its investment focus for Tribe 12 as an attempt to fill in missing pieces in the blockchain and crypto adoption puzzle from an infrastructure point of view. While investors like Goldman Sachs continue to grab headlines with eye-catching investments in startups focused on crypto custody and trading solutions, Boost VC is taking its investment from a wider perspective, seeking out startups that can build nuts-and-bolts blockchain solutions such as cross-chain navigation interfaces and management solutions for the peculiar challenge of distributed crypto teams.<br />
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Applications are welcomed from startups interested in creating decentralised frameworks for commerce, communication and government similar to ConsenSys, but operating on other non-Ethereum blockchains. According to Boost VC, the goal is to explore studio builder models for quick iterations on bringing crypto mainstream. Boost VC is also looking for projects focused on the creation and management of crypto teams, which come with the unique and unprecedented challenge of being almost entirely remote, contractor-heavy instead of employee-based, and having the near-instant liquidity offered by crypto payments, which creates a different incentive model from traditional startups.<br />
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In addition, projects that create cross-chain interfaces outside of custody, exchange and wallet solutions are particularly prized for investment. This is because Boost VC sees such projects as essentially land grabs offering the opportunity to build a blockchain interaction utility that can be recreated across the other top 5 – 10 blockchain networks.<br />
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The company also says it is looking for the “Coinbase for other blockchains/dapps” as well as a possible solution for legal gambling that takes advantage of differing regulatory environments across jurisdictions. Country-specific custody solutions and security trading solutions are also mentioned.<br />
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An excerpt from the announcement reads:<br />
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“Regulatory arbitrage plays. We invest globally. Therefore we will look at teams using certain jurisdictions to their advantage. Areas of legal gambling. Custody designed for specific countries. Trading securities.”</blockquote>
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Projects working on such solutions are encouraged to apply to Boost VC’s Tribe 12 accelerator batch.<br />
Source: <a href="https://www.ccn.com/boost-vc-issues-call-for-crypto-startups/">https://www.ccn.com/boost-vc-issues-call-for-crypto-startups/</a><br />
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Gary Herickhttp://www.blogger.com/profile/15523847384755898784noreply@blogger.com0tag:blogger.com,1999:blog-1038785027769041452.post-61906978498180082932018-10-17T11:11:00.002-07:002018-10-17T11:11:33.438-07:00Blockchain Capital Funding is Growing - Venture Capital Top 20<div dir="ltr" style="text-align: left;" trbidi="on">
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Top 20 Venture Capital Firms Investing in Blockchain Companies</h2>
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<a href="https://cryptofundresearch.com/top-50-venture-capital-firms-investing-blockchain-companies/">CryptoFundResearch </a>from June 2018<br />
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What are the top venture capital firms investing in blockchain companies and startups? This is not as simple of a question as it may first appear. What exactly is a “top” blockchain VC? Total blockchain assets? Total number of blockchain investments? How long or how actively they’ve been investing in blockchain companies?<br />
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There’s no obvious way to rank the top venture investors in blockchain. So we included all of the above components in our rankings. You can see details of our methodology here.<br />
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The short answer is these are the 20 most important and influential venture capital companies investing in blockchain and cryptocurrency companies. They are ranked according to four key criteria: value of total blockchain investments, total number of blockchain investments, length of blockchain investment experience, and level of investment activity in the last 12 months.<br />
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Be sure to scroll to the bottom for a variety of charts, graphs, and other resources to help visualize the world of venture capital investment in blockchain and crypto.<br />
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Top 50 Blockchain VCs – Key Stats<br />
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# of Blockchain Deals, Total: 556<br />
# of Blockchain Deals, Last 12 Months (through 6/15/2018): 282<br />
Overall Deal Volume, Total: $1.19 billion USD<br />
Average Deal Size: $2.1 million USD<br />
Average # of Co-Investors: 5<br />
Most Common Deal Type: Seed funding<br />
Most Active Blockchain Investor: Digital Currency Group<br />
% Investing Exclusively in crypto/blockchain assets: 34%<br />
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Top 50 Blockchain Venture Capital Firms<br />
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<b>#1 Digital Currency Group</b><br />
Digital Currency Group DCG crypto fund<br />
Description: Digital Currency Group is clearly the most influential venture capital investor in the blockchain space. Based in New York, Digital Currency Group has made more investments in blockchain companies, and for more money, than any other investor. Not only was Digital Currency Group one of the first blockchain investors, they have made more blockchain investments in the last 12 months (15) than all but 9 other VCs have made over any period.<br />
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Total Blockchain Company Investments: 58<br />
Value of Venture Investments in Blockchain: $78 million<br />
Top Blockchain Investments: Basis, Ledger, Circle, Blockchain Inc.<br />
Exclusively Invests in Blockchain/Digital Assets: Yes<br />
Blockchain Investments, Last 12 Months: 15<br />
Based in: New York, NY<br />
Website: <a href="http://dcg.co/">http://dcg.co</a><br />
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<b>#2 Pantera Capital</b><br />
Pantera Capital crypto fund<br />
Description: Pantera barely edged out Blockchain Capital for the number two spot on our list. Based in Menlo Park where the Bay Area’s tech and VC worlds collide, Pantera ranked in the top 10 in all four criteria we looked at for our rankings. Unlike most of the pure venture capital funds on this list, Pantera is a hybrid hedge fund / venture fund making seed investments in blockchain companies as well as investing in tokens and cryptocurrencies.<br />
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Total Blockchain Company Investments: 31<br />
Value of Venture Investments in Blockchain: $65 million<br />
Top Blockchain Investments: Basis, Circle, Harbor, DMarket<br />
Exclusively Invests in Blockchain/Digital Assets: Yes<br />
Blockchain Investments, Last 12 Months: 13<br />
Based in: Menlo Park, CA<br />
Website: <a href="https://www.panteracapital.com/">https://www.panteracapital.com</a><br />
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<b>#3 Blockchain Capital</b><br />
Blockchain Capital crypto fund<br />
Description: Blockchain Capital came in a close third on our rankings of the top venture capital investors in blockchain. Like Digital Currency Group and Pantera Capital, Blockchain Capital is a pure blockchain venture fund. Their first investment in blockchain came in late 2013 with their Series A investment in BTCC, the world’s oldest Bitcoin trading platform, and since that time has made more blockchain investments than anyone but Digital Currecncy Group. Blockchain Capital is based in San Francisco, CA.<br />
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Total Blockchain Company Investments: 37<br />
Value of Venture Investments in Blockchain: $71 million<br />
Top Blockchain Investments: Circle, Coinbase, Blockstream, Ripple<br />
Exclusively Invests in Blockchain/Digital Assets: Yes<br />
Blockchain Investments, Last 12 Months: 12<br />
Based in: San Francisco, CA<br />
Website: <a href="http://blockchain.capital/">http://blockchain.capital</a><br />
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<b>#4 Andreessen Horowitz (a16z)</b><br />
andreessen horowitz ventures crypto fund<br />
Description: Andreessen Horowitz, also know as a16z, is one of the world’s largest venture capital firms, and the first VC on our list to not invest almost exclusively in blockchain and digital assets. In fact, digital assets make up only a fraction of a16z’s more than $4 billion in assets. Andreessen got their start in blockchain investing in 2013 with an angel investment in Ripple followed by early stage venture funding of Coinbase. Since then, they have made nearly a dozen other blockchain investments in companies like Basis, Harbor, and Chia Networks. Look for Andreessen to move even farther up this list with their recent announcement of their $300 million crypto-focused fund.<br />
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Total Blockchain Company Investments: 14<br />
Value of Venture Investments in Blockchain: $55 million<br />
Top Blockchain Investments: Basis, Coinbase, DFINITY, Harbor<br />
Exclusively Invests in Blockchain/Digital Assets: No (but recently launched fund focused on digital assets)<br />
Blockchain Investments, Last 12 Months: 9<br />
Based in: Menlo Park, CA<br />
Website: <a href="https://www.a16z.com/">https://www.a16z.com</a><br />
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<b>#5 Node Capital</b><br />
Node Capital Crypto Fund LogoDescription: Unlike other top venture funds on our list that primarily make seed and series A investments in blockchain companies, Node Capital primarily invests via initial coin offerings (ICOs). Node Capital is based in Beijing and has made most of its nearly two dozen blockchain investments in Chinese startups like Fengwo and ChinaUp.com. They have been the most active blockchain investor over the last 12 months. Node was co-founded by Jun Du, CEO of Cointime.<br />
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Total Blockchain Company Investments: 22<br />
Value of Venture Investments in Blockchain: $20 million<br />
Top Blockchain Investments: Trip.io, HuoBi, Delphy Foundation, Fengwo<br />
Exclusively Invests in Blockchain/Digital Assets: Yes<br />
Blockchain Investments, Last 12 Months: 21<br />
Based in: Beijing, China<br />
Website: <a href="http://www.nodecap.com/">http://www.nodecap.com</a><br />
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<b>#6 Boost VC</b><br />
Boost VC crypto fund<br />
Description: Boost VC is an artificial intelligence, blockchain, and crypto accelerator based in San Mateo, California. Boost began its foray into blockchain investments in 2014 with a seed round in Ripio. Since then, they have made more than 30 additional investments in crypto and blockchain including almost a dozen in the last 12 months, making them one of the world’s most active venture capital / accelerators in blockchain.<br />
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Total Blockchain Company Investments: 32<br />
Value of Venture Investments in Blockchain: $67 million<br />
Top Blockchain Investments: BlockCypher, Tezos, Ledger, Coinbase<br />
Exclusively Invests in Blockchain/Digital Assets: No<br />
Blockchain Investments, Last 12 Months: 11<br />
Based in: San Mateo, CA<br />
Website: <a href="https://www.boost.vc/">https://www.boost.vc/</a><br />
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<b>#7 IDG Capital</b><br />
IDG Capital crypto venture and private equity fund logoDescription: IDG Capital is a private equity and venture capital fund based in New York. Like Boost VC, they invest in a variety of companies and not exclusively in blockchain and crypto assets. IDG got its start in blockchain with a Series A investment in Ripple in 2013, though they typically make later stage venture investments. IDG Capital made few other blockchain investments until 2018 when they made investments in Huoxing 24, Circle, imToken, and Mars Finance in just the first five months of the year. In addition to their main New York office, IDG has a satellite office in Bangalore, India.<br />
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Total Blockchain Company Investments: 8<br />
Value of Venture Investments in Blockchain: $31 million<br />
Top Blockchain Investments: Ripple, Circle, Mars Finance, imToken<br />
Exclusively Invests in Blockchain/Digital Assets: No<br />
Blockchain Investments, Last 12 Months: 4<br />
Based in: New York, NY<br />
Website: <a href="http://en.idgcapital.com/">http://en.idgcapital.com</a><br />
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<b>#8 Draper Associates</b><br />
Draper Associates blockchain venture capital fundDescription: Draper Associates is based in San Mateo, CA and led by legendary venture investor Tim Draper. Draper makes early stage venture investments in a variety of technology, manufacturing, and healthcare companies including blockchain companies and startups. Their first investment in blockchain came with a 2014 seed investment in Augmate, an IoT and wearables company focused on enterprise.<br />
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Total Blockchain Company Investments: 17<br />
Value of Venture Investments in Blockchain: $25 million<br />
Top Blockchain Investments: Coinbase, Ledger, Factom, CryptoMove<br />
Exclusively Invests in Blockchain/Digital Assets: No<br />
Blockchain Investments, Last 12 Months: 6<br />
Based in: San Mateo, CA<br />
Website: <a href="http://www.draper.vc/">http://www.draper.vc</a><br />
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<b>#9 Ceyuan Ventures</b><br />
Ceyuan Ventures blockchain venture fundDescription: Ceyuan Ventures is an early stage VC based in Beijing, China, with an additional office in Hong Kong. They primarily invest in technology companies and have made a half dozen significant blockchain investments in companies like Basis, Mars Finance and Trip.io. Their first blockchain investment came in 2014, and, after making no new blockchain investments in 2016 and 2017, made four in the first half of 2018.<br />
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Total Blockchain Company Investments: 6<br />
Value of Venture Investments in Blockchain: $36 million<br />
Top Blockchain Investments: Basis, Mars Finance, Trip.io, OkCoin<br />
Exclusively Invests in Blockchain/Digital Assets: No<br />
Blockchain Investments, Last 12 Months: 4<br />
Based in: Beijing, China<br />
Website: <a href="http://www.ceyuan.com/en/index.html">http://www.ceyuan.com/en/index.html</a><br />
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<b>#10(T) Lightspeed Venture Partners</b><br />
Lightspeed Venture Partners crypto fundDescription: Lightspeed is a global venture capital firm based in Menlo Park with six additional offices including in Israel, China, and India. They primarily invest in consumer and enterprise sectors and have also made several investments in blockchain companies like Basis and Ripple. They are also made an early investment in BTC China via LIghtspeed China Partners.<br />
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Total Blockchain Company Investments: 6<br />
Value of Venture Investments in Blockchain: $24 million<br />
Top Blockchain Investments: Basis, Blockchain Inc., Saga Foundation, BTCC<br />
Exclusively Invests in Blockchain/Digital Assets: No<br />
Blockchain Investments, Last 12 Months: 3<br />
Based in: Menlo Park, CA<br />
Website: <a href="http://lsvp.com/">http://lsvp.com</a><br />
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<b>#10(T) Techstars</b><br />
Techstars blockchain venture capital fundDescription: Techstars is a venture capital and technology company accelerator based in Boulder, Colorado. Their entry into blockchain investing came with a seed round investment in Chroma in 2013. Since then, Techstars has made more than three dozen additional, mostly small, investments in blockchain companies.<br />
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Total Blockchain Company Investments: 37<br />
Value of Venture Investments in Blockchain: $3 million<br />
Top Blockchain Investments: Filament, Tok.tv, Storj Labs, Chainalysis<br />
Exclusively Invests in Blockchain/Digital Assets: No<br />
Blockchain Investments, Last 12 Months: 17<br />
Based in: Boulder, CO<br />
Website: <a href="https://www.techstars.com/">https://www.techstars.com</a><br />
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<b>#12 RRE Ventures</b><br />
RRE top crypto venture fundDescription: RRE is a venture capital firm based in New York. They invest in technology, media, and financial services companies. RRE began investing in blockchain with a 2013 seed investment in Paxos followed by seed and angel rounds in Gem the following year. In total, RRE Ventures has made angel, seed, and series A and B investments in a dozen blockchain and crypto companies and startups.<br />
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Total Blockchain Company Investments: 12<br />
Value of Venture Investments in Blockchain: $32 million<br />
Top Blockchain Investments: Paxos, Ripple, Abra, Gem<br />
Exclusively Invests in Blockchain/Digital Assets: No<br />
Blockchain Investments, Last 12 Months: 2<br />
Based in: New York, NY<br />
Website: <a href="http://www.rre.com/">http://www.rre.com/</a><br />
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<b>#13 Union Square Ventures</b><br />
Union Square Ventures crypto fundDescription: Next on the list of top venture funds investing in blockchain is Union Square Ventures. USV is one that many may have expected to rank a bit higher on our list. Along with Sequoia, they were one of the most prominent venture funds to be involved in early investing in blockchain companies. However, they have not been as active of late as many newer entrants and blockchain-specific funds. USV is based in New York, NY.<br />
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Total Blockchain Company Investments: 9<br />
Value of Venture Investments in Blockchain: $28 million<br />
Top Blockchain Investments: Coinbase, CryptoKitties, Polychain Capital<br />
Exclusively Invests in Blockchain/Digital Assets: No<br />
Blockchain Investments, Last 12 Months: 3<br />
Based in: New York, NY<br />
Website: <a href="https://www.usv.com/">https://www.usv.com/</a><br />
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<b>#14 General Catalyst</b><br />
General Catalyst crypto venture fundDescription: General Catalyst is a venture capital firm based in Cambridge, MA. They typically make early stage investments in technology companies. They have made series A, B, C, and D investments in Circle, a crypto finance company. In March of 2018 General Catalyst closed a nearly $1.4 billion fund, its largest to date.<br />
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Total Blockchain Company Investments: 6<br />
Value of Venture Investments in Blockchain: $28 million<br />
Top Blockchain Investments: Circle, Bitwise, Bluzelle<br />
Exclusively Invests in Blockchain/Digital Assets: No<br />
Blockchain Investments, Last 12 Months: 2<br />
Based in: Cambridge, MA<br />
Website: <a href="http://generalcatalyst.com/">http://generalcatalyst.com</a><br />
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<b>#15 Liberty City Ventures</b><br />
Liberty City Ventures crypto fundDescription: Liberty City Ventures is a seed stage venture capital firm based in New York, NY. Founded in 2012, Liberty City made it’s first blockchain investment in late 2013 with seed funding for Paxos. They have participated in multiple funding rounds for both Paxos and Libra. In May, 2018 Liberty City announced its Digital Currency Fund had raised $15 million and would invest exclusively in cryptocurrency startups.<br />
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Total Blockchain Company Investments: 5<br />
Value of Venture Investments in Blockchain: $29 million<br />
Top Blockchain Investments: Paxos, Libra<br />
Exclusively Invests in Blockchain/Digital Assets: Yes (via Digital Currency Fund)<br />
Blockchain Investments, Last 12 Months: 2<br />
Based in: New York, NY<br />
Website: <a href="https://www.libertycityventures.com/">https://www.libertycityventures.com/</a><br />
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<b>#16 500 Startups</b><br />
500 Startups blockchain VC fundDescription: 500 Startups is an early stage VC and incubator fund based in San Francisco, CA. They have invested in well over 1,000 companies. Among their many startup investments are several blockchain companies including Libra Credit Network, BlockCypher, and Hijro. 500 Startups is led by its CEO, Christine Tsai. In early 2018, 500 Startups announced it would team with Houbi Labs to create a blockchain track program to help blockchain entrepreneurs.<br />
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Total Blockchain Company Investments: 16<br />
Value of Venture Investments in Blockchain: $5 million<br />
Top Blockchain Investments: Libra Credit Network, BlockCypher, Hijro, Stably Blockchain Lab<br />
Exclusively Invests in Blockchain/Digital Assets: No<br />
Blockchain Investments, Last 12 Months: 4<br />
Based in: San Francisco, CA<br />
Website: <a href="https://500.co/">https://500.co</a><br />
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<b>#17 DHVC (Danhua Capital)</b><br />
dhvc blockchain vc fundDescription: Danhua Capital (DHVC) is a venture capital firm based in Palo Alto, CA. DHVC primarily makes early stage investments in technology companies including almost two dozen investments in blockchain startups. DHVC has really picked up the pace of their blockchain investments this year. In just the first six months of 2018 they have made 15 seed and venture investments in blockchain companies like Hash World, Mainframe, and CertiK.<br />
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Total Blockchain Company Investments: 21<br />
Value of Venture Investments in Blockchain: $20 million<br />
Top Blockchain Investments: Libra Credit Network, Hedera Hashgraph, Origin Protocol<br />
Exclusively Invests in Blockchain/Digital Assets: No<br />
Blockchain Investments, Last 12 Months: 19<br />
Based in: Palo Alto, CA<br />
Website: <a href="http://www.danhuacap.com/">http://www.danhuacap.com/</a><br />
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<b>#18 Kindred Ventures</b><br />
Kindred Ventures top blockchain venture capital fundDescription: Kindred Ventures is an angel/VC fund based in San Francisco and San Diego, CA. They invest in early stage companies including at least a half dozen blockchain companies. Kindred was founded by Steve Jang in 2014.<br />
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Total Blockchain Company Investments: 6<br />
Value of Venture Investments in Blockchain: $15 million<br />
Top Blockchain Investments: Radar Relay, TruStory, dYdX, Rare Bits<br />
Exclusively Invests in Blockchain/Digital Assets: No<br />
Blockchain Investments, Last 12 Months: 5<br />
Based in: San Diego, CA<br />
Website: <a href="https://kindredvc.com/">https://kindredvc.com</a><br />
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<b>#19 Sequoia Capital</b><br />
Sequoia Capital crypto venture fundDescription: Some might be surprised to see Sequoia so far down the list of the top venture capital firms investing in blockchain. For one, Sequoia is one of California’s best know venture firms. They have also been in the news regarding blockchain with a high profile lawsuit against crypto exchange Binance. Sequoia has also been involved in some high profile deals, but not as many as some of the top players on our list.<br />
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Total Blockchain Company Investments: 8<br />
Value of Venture Investments in Blockchain: $12 million<br />
Top Blockchain Investments: Guanguan Coin, String Labs, Binance<br />
Exclusively Invests in Blockchain/Digital Assets: No<br />
Blockchain Investments, Last 12 Months: 5<br />
Based in: Menlo Park, CA<br />
Website: <a href="http://www.sequoiacap.com/">www.sequoiacap.com</a><br />
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<b>#20(T) Future Perfect Ventures</b><br />
Future Perfect Ventures vc crypto fundDescription: Future Perfect Ventures (FPV) is an early stage venture capital firm based in New York, NY. FPV’s portfolio mostly consists of blockchain and crypto companies like Abra, BitPesa, Harbor, Blockchain Inc. and others. FPV was founded by Jalak Jobanputra.<br />
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Total Blockchain Company Investments: 11<br />
Value of Venture Investments in Blockchain: $15 million<br />
Top Blockchain Investments: Blockstream, Blockchain Inc., Harbor, Abra<br />
Exclusively Invests in Blockchain/Digital Assets: No, but mostly<br />
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To see the list of all top 50 firms, visit the link below.<br />
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Source: <a href="https://cryptofundresearch.com/top-50-venture-capital-firms-investing-blockchain-companies/">https://cryptofundresearch.com/top-50-venture-capital-firms-investing-blockchain-companies/</a><br />
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Gary Herickhttp://www.blogger.com/profile/15523847384755898784noreply@blogger.com0tag:blogger.com,1999:blog-1038785027769041452.post-62398221302538531312018-10-15T11:30:00.000-07:002018-10-15T11:30:01.005-07:00Blockchain Technology Plus Venture Capital Equals Boston's Startup Culture<div dir="ltr" style="text-align: left;" trbidi="on">
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Venture Capital and Blockchain Technology in Boston’s Startup Culture</h2>
From <a href="https://www.americaninno.com/boston/from-the-community-boston/venture-capital-and-blockchain-technology-in-bostons-startup-culture/">Americaninno.com by Kirill Bensonoff</a> Oct. 9, 2018<br />
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When people think of Boston, several things typically come to mind: cravings for clam chowder, the iconic Fenway Park, and the exaggerated “BAston” pronunciation from strangers. Lately, the city that spawned companies as diverse as Gillette and DraftKings is becoming known for its vibrant startup culture that’s launching dozens of new companies each year.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEge0tyMB95GIOXOs4wj9YucRKeV07UAWBLv_XtUdNtdO042p2cv4BsMxQ3hlIQ4kKxBP4ejyUsHb0VZj4jlYWoGauGJfBvhLBsMgc7HECQKFf3M7KxmZud9KxSABd8vtBJlo8WXz-2cO9I/s1600/blockchain-technology-gary-herick.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img alt="Gary Herick Blockchain Technology" border="0" data-original-height="384" data-original-width="576" height="213" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEge0tyMB95GIOXOs4wj9YucRKeV07UAWBLv_XtUdNtdO042p2cv4BsMxQ3hlIQ4kKxBP4ejyUsHb0VZj4jlYWoGauGJfBvhLBsMgc7HECQKFf3M7KxmZud9KxSABd8vtBJlo8WXz-2cO9I/s320/blockchain-technology-gary-herick.jpg" title="Blockchain Technology" width="320" /></a></div>
This is not surprising.<br />
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Our city has twice been named the top startup community in the U.S. by the “Innovation that Matters” report compiled by the organization 1776 and the U.S. Chamber of Commerce Foundation.<br />
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This fact is not lost on entrepreneurs. According to The Boston Globe, 1,869 startups are operating in Boston, and those numbers continue to increase as our venture capital scene becomes more competitive with other startup hubs including San Francisco and New York. In terms of actual investment dollars, San Francisco leads the nation, but Bloomberg’s assessment of regional startup investment found that Boston places near the top of the list in each of the last several years. This year, Boston’s venture capital initiatives jumped 15%, surpassing New York City for second place in the national rankings.<br />
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In the past, the city’s prominent universities served as a launching pad for some of the most famous platforms in the world, but those businesses typically found their way to other cities once they became popular. For instance, Facebook, which began in 2004 in Mark Zuckerberg’s Harvard dorm room, and Dropbox, founded by Drew Houston while he was studying at MIT, both ultimately moved to San Francisco.<br />
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Now, the combination of available venture capital and the innovative ethos promulgated by Boston’s universities is encouraging companies to stay. Therefore, as the next wave of innovation is preparing for launch, Boston is uniquely suited to meet the new demand.<br />
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<h3 style="text-align: left;">
The Cryptocurrency & Blockchain Movement</h3>
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Just like internet startups were on the precipice of mass adoption more than two decades ago, blockchain technology is at the forefront of the innovation curve. In addition to receiving significant investment and attention from companies like Microsoft and IBM, hundreds of startups are building new platforms to meet the demands of the decentralized economy.<br />
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In 2018, nearly 700 new blockchain startups launched through Initial Coin Offerings (ICOs). Collectively, these companies have raised $17.5 billion this year, which is more than triple the amount from the previous two years.<br />
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Not to be left on the sidelines, several prominent venture capitalists have picked up on this movement. Andreessen Horowitz launched a $300 million venture capital focused on blockchain startups, Tim Draper has committed a similar amount to various ICOs, and Sequoia Capital prominently entered the market last year.<br />
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At this year’s Boston Blockchain Week, local venture capital firm Pillar asserted themselves as the de facto financing arm of Boston’s blockchain scene. In an event roundup, Pillar encouraged ICOs looking for funding to “Call Pillar first, obviously.”<br />
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<h3 style="text-align: left;">
Venture Capital Streams</h3>
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In many ways, the ICO model was meant to disrupt traditional capital raising methods including venture capital initiatives.<br />
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Instead, venture capital and ICOs are operating in tandem with one another. In May, Bloomberg observed, “While ICOs were supposed to disrupt venture capital, such funding in blockchain-based companies is surging, with startups raising $434 million since December, the most ever in a three-month period.”<br />
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In general, this seems to be a boom for both industries. Venture capital firms are finding fresh relevance and entrepreneurs are afforded another opportunity to finance their platforms.<br />
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<h3 style="text-align: left;">
The Challenges of Change</h3>
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The ICO movement isn’t without its detractions.<br />
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For starters, this novel fundraising mechanism remains in a state of regulatory limbo. Although the SEC has decided that Bitcoin and Ether, the two most popular cryptocurrencies, should not be regulated as securities, there is a broad expectation that some ICOs will eventually be classified as such.<br />
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In short, VCs are participating in a game in which some of the rules are still being written.<br />
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This ambiguity is illustrative of the broad crypto movement. It’s an industry under construction, and it can change swiftly. Venture capital firms will be tasked with keeping up with this rapid innovation and the emerging legal framework that accompanies its novelty.<br />
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<h3 style="text-align: left;">
Boston & The Blockchain</h3>
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While blockchain sentiment can fluctuate wildly, it’s evident that the decentralized ecosystem is not going away any time soon.<br />
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Many describe the blockchain economy as the third iteration of the internet, which places tremendous scale and opportunity in the industry. Of course, like any burgeoning industry, there are likely to be an abundance of failures, and blockchain prognosticators have indicated as much.<br />
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Last October, Ethereum co-founder, Vitalik Buterin, told a crowd at the ETHWaterloo Hackathon in Canada that “It is an established fact that ninety percent of startups fail. And it should also be an established fact that 90 percent of these ERC20s on CoinMarketCap are going to go to zero.”<br />
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Therefore, risk management and market maturation become critical metrics for venture capitalists.<br />
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In Boston, the prominence of blockchain technology and the emergence of a dynamic startup culture are bound to coalesce. As the first generation of blockchain platforms begin emerging out of Harvard and MIT, it’s less likely that they will flee to the other coast. Boston is offering everything we need.<br />
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Source: <a href="https://www.americaninno.com/boston/from-the-community-boston/venture-capital-and-blockchain-technology-in-bostons-startup-culture/">https://www.americaninno.com/boston/from-the-community-boston/venture-capital-and-blockchain-technology-in-bostons-startup-culture/</a><br />
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Gary Herickhttp://www.blogger.com/profile/15523847384755898784noreply@blogger.com0tag:blogger.com,1999:blog-1038785027769041452.post-20951345588684391752018-10-10T20:23:00.000-07:002018-10-10T20:23:16.210-07:00ICO-Funded Startups Getting a Closer Look From The SEC<div dir="ltr" style="text-align: left;" trbidi="on">
<h2 style="text-align: left;">
SEC tightens the noose on ICO-funded startups</h2>
From <a href="https://decryptmedia.com/2018/10/10/sec-tightens-the-noose-on-ico-funded-startups/">DecryptMedia.com by Daniel Roberts</a> October 10, 2018<br />
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<b>Hundreds of startups that did token sales are finding out they’re in violation of securities law— including many that were sure they did it the right way.</b><br />
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During the past few months, the Securities and Exchange Commission has significantly widened its crackdown on certain initial coin offerings, putting hundreds of cryptocurrency startups at risk.<br />
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The SEC sent out a slew of initial information-seeking subpoenas at the start of 2018. Now the agency has returned to many of those companies, and subpoenaed many more—focusing on those that failed to properly ensure they sold their token exclusively to accredited investors.<br />
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The agency is exerting pressure on many of those companies to settle their cases. In response, dozens of companies have quietly agreed to refund investor money and pay a fine. But many startups that have been subpoenaed say they are left in the dark struggling to satisfy the SEC’s demands, and are uncertain of how others are handling it, according to conversations with more than 15 industry sources as part of a joint investigation by Yahoo Finance and Decrypt.<br />
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The sources, many of whom are employees of companies that were subpoenaed by the SEC or are attorneys for those companies, requested anonymity, because the SEC restricts them from discussing the matter.<br />
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ICO funding, which began in 2014, exploded in popularity last year as an alternative method to fund a cryptocurrency startup, rather than the traditional venture capital route. In an ICO, a startup sells its own digital token, typically for later use in the ecosystem the startup plans to build; buyers pay for the token in the cryptocurrencies bitcoin or ether. In the majority of cases, companies that do ICOs have not yet launched any product. Think of an ICO as buying chips for use in a casino that hasn’t been built yet.<br />
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It is hard to say precisely how many ICOs occurred during the past four years. ICO Alert says it has tracked more than 5,000 but publicly displays only 3,400 “legitimate” ones. CoinDesk, a leading bitcoin trade publication, lists only 800 in the past two years. More than $20 billion has been raised in ICOs to date, but the ICO boom peaked in January 2018. Concerns over the legality of token sales have had a chilling effect.<br />
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The core issue now for every company that did an ICO: Was its “token” a security? And if it was, did the company register its offering with the SEC, or ensure that it qualified for an exemption?<br />
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<blockquote class="tr_bq">
<b>SEC sees most ICOs as securities offerings—and companies failed to comply</b></blockquote>
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Many of the companies that did ICOs called their offering something else, such as a “utility token” or a “SAFT” (Simple Agreement for Future Tokens, an ICO method in which investors buy a reservation for tokens yet to be launched), but the SEC does not care about those labels. It weighs each ICO on a case-by-case basis.<br />
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In July 2017, the SEC announced that it viewed the tokens offered by The DAO, an ICO that raised more than $150 million in 2016, as securities. Then, at a Senate hearing in February, SEC Chairman Jay Clayton said, “I believe every ICO I’ve seen is a security.”<br />
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<blockquote class="tr_bq">
<b>Capital raising through blockchain requires compliance with federal securities laws </b><a href="https://t.co/IjOxjoVdfK">https://t.co/IjOxjoVdfK</a> — SEC Enforcement (@SEC_Enforcement) July 25, 2017</blockquote>
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William Hinman, the SEC’s director of corporation finance, provided further clarity in June at Yahoo Finance’s All Markets Summit when he said ether does not appear to be a security, but suggested that most ICOs are securities offerings, and that, “calling the transaction an initial coin offering, or ‘ICO,’ or a sale of a ‘token,’ will not take it out of the purview of the U.S. securities laws.”<br />
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Any U.S. company offering a security must register its offering with the SEC, or qualify for an exemption. Amid the ICO boom, virtually none have registered a security offering. Thus, they must meet an exemption. The SEC exemptions include selling only to investors outside the U.S., or selling only to accredited investors, which are individuals with income higher than $200,000 in each of the past two years or a minimum net worth of $1 million.<br />
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Ensuring that investors are fully accredited requires, as the SEC spells out plainly, “reviewing documentation, such as W-2s, tax returns, bank and brokerage statements, credit reports and the like.” In other words, it involves a lot more than just checking a box.<br />
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Many companies that thought they did properly limit their ICO to accredited investors are now finding out that in the eyes of the SEC, they didn’t.<br />
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Robert Cohen, chief of the cyber unit in the SEC’s enforcement division, likens it to a spectrum. When the SEC calls up a company that did an ICO and asks how the company limited its ICO to certain investors, “Some companies tell us the name of the law firm that advised them, explain the know-your-customer procedures they followed, and show us an investor list that is limited to accredited investors,” he says. “At the other end of the spectrum, some point to a website statement about limiting the ICO to some investors, and possibly checkboxes, and that’s it.”<br />
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<b>“The law was pretty clear”</b></blockquote>
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Some of the people particularly surprised to be in trouble are those who did their ICO as a SAFT, a designation that was intended specifically to be more compliant with securities law.<br />
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But some onlookers have little sympathy. Cardozo Law School professor Aaron Wright, who co-authored a paper that questioned the legality of the SAFT model, says, “There could have been other ways they could have structured it, like selling a digital good to people who actually wanted to use it, instead of predominately to speculative investors. They could have talked to the SEC first. I think the law was pretty clear that if you sell something to an investor, it’s likely a security—folks just wanted to engage in token sales, so they just kind of flouted it.”<br />
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In December 2017, the SEC shut down the $15 million ICO of a startup called Munchee and forced the company to refund the buyers. Munchee had advertised that its token would go up in value; promises of financial returns are a red flag for the SEC.<br />
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In January 2018, the SEC shut down the ICO of AriseBank, which had raised $600 million of a $1 billion goal, for falsely stating it had bought an FDIC-insured bank. In April 2018, the SEC shut down the $32 million ICO of Centra, which had been promoted by boxer Floyd Mayweather and rapper DJ Khaled, for using “misleading marketing” and “paid celebrities” to make false claims. Last month, the SEC charged TokenLot, which called itself an “ICO Superstore,” with being an unregistered broker-dealer, and charged Crypto Asset Management (CAM) with false marketing and being an unregistered investment company.<br />
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Those are just some examples that the SEC announced publicly.<br />
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Behind closed doors, many more negotiations are underway. The SEC has gotten dozens of ICOs to refund buyers and pay a fine, simply by reaching out and asking questions.<br />
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<blockquote class="tr_bq">
<b>We received a second subpeona from the SEC, again collecting information from us as investors in a U.S. company. The legal costs of dealing with these are not insignificant. We will not invest in any further U.S. deals until the SEC clarifies token rules. Pivot to Asia. </b><br />
— Michael Arrington (@arrington) September 28, 2018</blockquote>
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When the SEC reaches out to companies that did an ICO, it is usually through the company’s law firm. The SEC requests a vast trove of documents related to the ICO. Yahoo Finance and Decrypt have obtained communication that the law firm Cooley, which represented many ICOs, sent to one client after an SEC subpoena. The attorney letter warns, “The SEC is likely examining whether [client] should be considered a security under the U.S. federal securities laws… For the purposes of this preservation hold, ‘document’ is defined very broadly.”<br />
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Such language is leading many companies to refund their ICOs rather than attempt a legal fight. As one source at a company that got subpoenaed says, “The last thing we want is a press release they put out with only our name on it.”<br />
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<h3 style="text-align: left;">
Refunding tokens</h3>
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The Fan-Controlled Football League (FCFL), the first ICO to be listed on the mainstream crowdfunding platform Indiegogo (through a partnership with MicroVentures), is one example. FCFL raised $5.2 million last year. In August of this year, MicroVentures quietly returned the money to the initial buyers. </div>
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There’s just one problem with refunding. If an ICO gathered the proper information on its buyers, and hadn’t yet launched its token, returning the money is doable. But for ICOs that have launched their token, refunding is not so simple.<br />
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“It’s not even really possible,” says Jony Levin, CEO of Chainalysis. “In a lot of cases people bought tokens in ICOs through exchange accounts at places like Kraken. So you can’t just send tokens back to the address you got them from, because that’s an exchange address. If ICOs are made to refund buyers, it will have to be similar to the Mt. Gox case: you make a public announcement and people have to prove they were a contributor.”<br />
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As a way to pacify the SEC, some ICOs are attempting to convert their utility token to a security token. Iconomi, which raised more than $10 million in an ICO, is one example. In a blog post this month, Iconomi wrote that its token holders, “will be able to exchange their ICN tokens for tokenized shares in a joint-stock company presented as eICN tokens. This new structure brings legal clarity for all stakeholders.”<br />
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Filecoin, Blockstack, Props, Origin, and TrustToken, the five ICOs that have listed on the platform CoinList, all sold only to accredited investors, and none have launched their actual token yet. A source close to Blockstack says the company sees its token as a utility, but out of caution, chose to treat it like a security and comply with all the relevant securities laws.<br />
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<blockquote class="tr_bq">
<b>“Right now it feels like a massive canyon”</b></blockquote>
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All of this SEC action may sound like very bad news for ICOs, but many in the industry have a more optimistic take: regulatory clarity will bring growth. In addition, more and more companies considering a token sale are now reaching out to the SEC proactively.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi8A7djuncFIA3pGvo6I3km0Z5XXxGhyUo3MtkU3mKjkfHxwk2TQMnrm9Shu4m0qs0HZPT8ZtFrDsxrK9S_l_cKeCIyvtMg7kvS8Uspe5X4hmI2E_HTm3pM35QvLbdkoetb-4LrsIfZwgs/s1600/raising-startup-capital.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img alt="ICO-Funded Startups" border="0" data-original-height="292" data-original-width="432" height="216" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi8A7djuncFIA3pGvo6I3km0Z5XXxGhyUo3MtkU3mKjkfHxwk2TQMnrm9Shu4m0qs0HZPT8ZtFrDsxrK9S_l_cKeCIyvtMg7kvS8Uspe5X4hmI2E_HTm3pM35QvLbdkoetb-4LrsIfZwgs/s320/raising-startup-capital.jpg" title="ICO-Funded Startups" width="320" /></a></div>
“I do think that businesses on the up-and-up can navigate through it, and that in just two or three years we’ll have clarity, and we’ll look back on this time as a speed bump,” says the CEO of a well-known tech company who has closely watched the ICO space. “Of course, if you’re a company that is dealing with an SEC subpoena, right now it doesn’t feel like a speed bump, right now it feels like a massive canyon.”<br />
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The lingering lack of clarity has driven a group of crypto companies, led by Ripple, to hire D.C. lobbyists to push Congress on behalf of the industry.<br />
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From the SEC’s perspective, there is no lack of clarity. The sniff tests are the same as they have been for decades. The SEC is applying the same securities laws to ICOs that it always applies.<br />
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“Everybody’s holding their breath for the SEC to create some kind of coin rule, and they’re not going to,” says a securities attorney at one high-profile Silicon Valley firm. “They’re applying the same laws, the same statutes, the same rules, to stocks and bonds and everything else.”<br />
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In other words, there’s even a lack of clarity around whether there is a lack of regulatory clarity.<br />
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Source: <a href="https://decryptmedia.com/2018/10/10/sec-tightens-the-noose-on-ico-funded-startups/">https://decryptmedia.com/2018/10/10/sec-tightens-the-noose-on-ico-funded-startups/</a><br />
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This story is a collaboration between Yahoo Finance and Decrypt, with additional reporting by Josh Quittner.<br />
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Gary Herickhttp://www.blogger.com/profile/15523847384755898784noreply@blogger.com0tag:blogger.com,1999:blog-1038785027769041452.post-71450155799572704172018-10-05T20:28:00.001-07:002018-10-05T20:28:41.336-07:0011 ECO-FRIENDLY HOMES THAT DEFINE INNOVATIVE<iframe allowfullscreen="" frameborder="0" height="270" src="https://www.youtube.com/embed/bQnJpf0ge00" width="480"></iframe>Gary Herickhttp://www.blogger.com/profile/15523847384755898784noreply@blogger.com0tag:blogger.com,1999:blog-1038785027769041452.post-1316258012267024432018-10-05T10:28:00.000-07:002018-10-05T10:28:24.321-07:00Simple Agreement for Future Tokens (SAFT) Sale Nets $8.86 Million for Ethereum Scaling<div dir="ltr" style="text-align: left;" trbidi="on">
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Multicoin Leads $10 Million SAFT Sale for Ethereum Scaling Startup Skale</h2>
From <a href="https://www.coindesk.com/multicoin-leads-10-million-saft-sale-for-ethereum-scaling-startup-skale/">Coindesk.com by Nikhilesh De</a> Oct. 4, 2018<br />
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Blockchain startup Skale Labs raised nearly $10 million in an effort to develop a blockchain scalability infrastructure for ethereum, the company announced Thursday.</div>
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The startup says in a press statement that it raised $8.86 million in a Simple Agreement for Future Tokens (SAFT) sale led by Multicoin Capital, on top of $785,000 raised earlier this year.</div>
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Galaxy Digital, Aspect Ventures, Blockchange Ventures, Boost.VC, Canaan Venture Partners, Floodgate Fund, Hack.VC, Neo Global Capital and Signia Venture Partners also participated in the sale.</div>
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The company intends to launch an open-source permissionless blockchain targeted toward providing ethereum-based decentralized application (dapp) developers a new base platform to build upon.</div>
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In particular, Skale intends to launch the first implementation of the Ethereum Virtual Machine on a Plasma chain – a move it says would help dapp developers by giving them a layer-2 platform on which to execute smart contracts.</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiTNbITz68eLQmFIqB_O8zjGI6iwf1zotKfYOM5Bz0-XjXTBWCrTB3dEmgNvdXbyHqHH5nqjmklLNH1hu9v4haBb26NmZxRe05H32li4vdo5FSkB3MXNR2h1dkBFQm8h9AbpczOghyFVqs/s1600/simple-agreement-for-future-tokens-saft.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="simple agreement for future tokens (saft)" border="0" data-original-height="278" data-original-width="689" height="161" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiTNbITz68eLQmFIqB_O8zjGI6iwf1zotKfYOM5Bz0-XjXTBWCrTB3dEmgNvdXbyHqHH5nqjmklLNH1hu9v4haBb26NmZxRe05H32li4vdo5FSkB3MXNR2h1dkBFQm8h9AbpczOghyFVqs/s400/simple-agreement-for-future-tokens-saft.jpg" title="simple agreement for future tokens (saft)" width="400" /></a></div>
Using Skale's network will enable dapps to conduct "millions of transactions per second at a fraction of the cost of what's possible today," the release claims.</div>
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Jack O'Holleran, co-founder and CEO of Skale Labs, said in a statement that "helping Ethereum dapp developers scale applications is the center of what we do."</div>
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He added:</div>
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"We are sharply focused on making Layer 2 easy, fast, secure and cost-effective for anyone who wants to run smart contracts on Ethereum ... We are looking forward to bringing this network to market in a fully open-source, [peer-to-peer] manner."</blockquote>
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The startup plans to set its testnet live by the end of 2018 and activate its mainnet in the upcoming year. A foundation will also be launched to support the network, similar to the Ethereum Foundation and its work supporting the Ethereum mainnet, the firm says.</div>
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"Skale is uniquely positioned to dominate Layer 2 on Ethereum," said Multicoin Capital managing partner Kyle Samani, adding that the project is "Ethereum's best shot at fending off competition from other smart contract platforms."</div>
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Gary Herickhttp://www.blogger.com/profile/15523847384755898784noreply@blogger.com0tag:blogger.com,1999:blog-1038785027769041452.post-26911020565508339742018-10-04T19:10:00.001-07:002018-10-04T19:10:19.088-07:00Review: MEDICAL INDUSTRIAL COMPLEX: The $ickness Industry, Big Pharma and Suppressed Cures
<a href="http://www.goodreads.com/book/show/25393264" style="float: left; padding-right: 20px"><img src="http://images.gr-assets.com/books/1429516794m/25393264.jpg" border="0" alt="MEDICAL INDUSTRIAL COMPLEX: The $ickness Industry, Big Pharma and Suppressed Cures" /></a>
<a href="http://www.goodreads.com/book/show/25393264">MEDICAL INDUSTRIAL COMPLEX: The $ickness Industry, Big Pharma and Suppressed Cures</a> by <a href="http://www.goodreads.com/author/show/5099266">James Morcan</a><br/>
My rating: <a href="http://www.goodreads.com/review/show/2462995314">4 of 5 stars</a>
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Scary stuff, enjoyed it very much. Recommended.
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<a href="http://www.goodreads.com/review/show/2462995314">View all my reviews</a>
Gary Herickhttp://www.blogger.com/profile/15523847384755898784noreply@blogger.com0tag:blogger.com,1999:blog-1038785027769041452.post-34271015132544132832018-09-25T09:26:00.001-07:002018-09-25T09:26:34.068-07:003D printing earth house with Crane WASP | final layer<iframe allowfullscreen="" frameborder="0" height="270" src="https://www.youtube.com/embed/iCiZmwtzHHY" width="480"></iframe>Gary Herickhttp://www.blogger.com/profile/15523847384755898784noreply@blogger.com0tag:blogger.com,1999:blog-1038785027769041452.post-8967240657089538422018-09-21T09:51:00.001-07:002018-09-21T09:51:05.282-07:003D printing earth house with Crane WASP | work in progress<iframe allowfullscreen="" frameborder="0" height="270" src="https://www.youtube.com/embed/Jo0QADF_xKc" width="480"></iframe>Gary Herickhttp://www.blogger.com/profile/15523847384755898784noreply@blogger.com0