Bře 17

BTCS Launches Ethereum Pilot Program

Source: bitcoin

BTCS Launches Ethereum Pilot Program

Arlington, VA – (Marketwired – March 17, 2016) – BTCS Inc. (OTCQB: BTCS) (“BTCS” or the “Company”), a blockchain technology focused company which secures the blockchain through its transaction verification services business, is launching a pilot program to begin securing Ethereum’s blockchain.  

Disclaimer: This is a press release. Bitcoinist is not affiliated with this firm and is not responsible for its products and/or services.

Ethereum is a digital currency and blockchain platform focused on smart contract applications. Like bitcoin-based blockchain technologies, the decentralized network of Ethereum enables transactions without downtime, censorship, fraud, or third-party interference. Since early February, the value of Ether, the digital token or fuel that powers the Ethereum network, in USD terms, has grown at a 500% annual growth rate with the total value of all Ether, or market cap of Ether, surpassing $1 billion.

“As the first U.S. publicly-traded blockchain-focused company we want to provide our investors diversified exposure to digital currencies and blockchain technologies,” stated Charles Allen, CEO of BTCS. “Given the recent success of Ethereum and the growing interest from major players in tech and finance, we believe it’s an ideal time to launch a pilot program. With the capacity expansion we completed at our North Carolina facility in 2015, we’re well-positioned to scale operations when necessary, even as we continue to ramp our current bitcoin-focused transaction verification operations.”

Ethereum has garnered growing support since its launch in 2014, including projects with Microsoft and IBM. The recent launch of the first production release, Homestead, is set to make Ethereum a blockchain technology that will be integral to future smart contract based products.

Commenting on the launch of Ehereum’s first production release, Andrew Keys, co-founder of decentralized application development firm ConsenSys Enterprise, told CoinDesk, “Homestead’s arrival will begin to demonstrate the next generation of blockchain technology, whereby anything we can dream of, can be accomplished in a decentralized manner using Ethereum.”

“Like many others, we’re excited for the prospects of Ethereum,” continued Allen. “While Ethereum is focused on smart contracts, it’s important to note that there are currently numerous companies working on solutions to build smart contracts on bitcoin’s blockchain, leveraging the deep security provided by its more established and secure blockchain.”

In addition to the pilot program, BTCS has secured a Ethereum-mining hosting contract. The contract uses approximately 50 kilowatts of the Company’s 3 megawatt capacity.

To see the BTCS facility, take a virtual reality tour that includes drone footage of the operation: 

To see a recent interview with our CEO Charles Allen, please click below:

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BTCS Launches Ethereum Pilot Program

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Úno 26

Spondoolies Tech Gets Approval for BTCS Merger

Source: bitcoin

Spondoolies Tech Gets Approval for BTCS Merger

Arlington, VA – BTCS Inc. (OTCQB: BTCS) (“BTCS” or the “Company”), a blockchain technology focused company which secures the blockchain through its transaction verification services business, and Spondoolies-Tech Ltd. (Spondoolies), an Israeli transaction verification server manufacturer, received merger approval from the Israeli Office of Chief Scientist (“OCS”).

Disclaimer: This is a press release. Bitcoinist is not responsible for this company’s products and/or services.

Spondoolies and BTCS to Merge

The OCS approval is one of two key closing conditions of the merger between BTCS and Spondoolies. The second key closing condition of the merger requires confirmation from the Israeli Tax Authority regarding deferred payment of applicable Israeli taxes related to the transaction.

Charles Allen, Chief Executive Officer of BTCS, commented,

“Our merger with Spondoolies marks a major milestone for us and sets the stage for rapid revenue acceleration in the years ahead. BTCS produced year-over-year revenue growth of 1,225% in 2015, while cash used in operations was reduced by 25%. To combine this strong performance with Spondoolies’ industry leading technology, which generated impressive revenues for its first and second generation products, we’ll be positioned to create a new global leader in the blockchain sector.”

“The blockchain is set to radically change the future of transaction-based industries,” stated Guy Corem, Chief Executive Officer of Spondoolies. “BTCS has positioned itself at the core of this disruptive transformation, and we are excited to combine forces to capitalize on the immense opportunities that lie ahead. The OCS approval places us one important step closer to completing the merger.”

After giving effect to BTCS’s recent $750,000 investment in Spondoolies, BTCS shareholders will own a 69.7% to 61.2% stake in the combined company, and Spondoolies shareholders will own 30.3% to 38.8% of the combined company, based on the number of common and preferred securities outstanding immediately following the merger. The ownership range is a function of BTCS’ liquidation preference associated with its existing $2.25 million investment in Spondoolies. The final ownership percentages will be determined prior to closing.

Allen continued, “We remain committed to improving shareholder value and fully believe in our ability to execute on key strategic initiatives in 2016. We’ve demonstrated that commitment with our recent move to voluntarily escrow a large number of our founders’ shares, representing 15% of the Company’s outstanding shares, pending the successful completion of the merger and an up listing of our common stock to a senior exchange. This effectively ‘puts our money where our mouth is’ as we move forward to achieve both of these important steps ahead of their respective year-end deadlines.”

Visit www.btcs.com for more information.

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Spondoolies Tech Gets Approval for BTCS Merger

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Úno 24

Letter to BTCS Shareholders from the CEO

Source: bitcoin

Letter to BTCS Shareholders from the CEO

Disclaimer: This is an advertorial. Bitcoinist.net is not responsible for this company’s products and/or services.

Arlington, VA – (Marketwired – February 23, 2016) – BTCS Inc. (OTCQB: BTCS) (“BTCS” or the “Company”), a blockchain technology focused company which secures the blockchain through its transaction verification services business, released a Letter to Shareholders updating current activities and outlining its corporate strategy for 2016, as follows:

Dear Shareholders,

Over the past few months, several major investment banks have published research foretelling the significant potential for blockchain technologies to revolutionize industries on a massive scale. Recognizing this potential, much of our work in 2015 focused on building a strong operational foundation to capitalize on the rapidly-evolving blockchain opportunity.

Despite many successes in this effort, our stock continued to decline throughout 2015 and is now trading near its 52-week low. As a significant shareholder myself, I too am feeling the pain of our low stock price, and I firmly believe it is not representative of our accomplishments or potential.

BTCS originally began operations focused exclusively on the Bitcoin ecosystem, and while our revenues today are generated from securing the blockchain through our transaction verification services segment, we plan to evaluate broader opportunities in blockchain consumer solutions. As noted in recently published research from Goldman Sachs, the real opportunity lies in the underlying technology of Bitcoin, the blockchain. Referred to as the golden egg by analysts at Goldman Sachs, the blockchain can not only live outside of Bitcoin, it has the potential to streamline a multitude of businesses.

We believe the work we completed in 2015 has established us as an early mover in this burgeoning market opportunity, positioning us for strong shareholder value improvement in the quarters and years ahead as the use of blockchain technologies begins to revolutionize standard business practices.

Our current transaction verification operation touches every blockchain transaction. Even after doubling our server processing power in January of 2016, we’re currently using just 33% of the expanded power capacity we added in July 2015. The foundation to rapidly scale our operations is in place, and our pending merger with Spondoolies-Tech Ltd. (“Spondoolies”) is poised to provide us a technology advantage that we believe will positively impact revenues over the long-term.

We’ve also strengthened our financial footing, most recently with the completion of a $1.45 million capital raise in December 2015, 1,225% year-over-year revenue growth for the fiscal year ended 2015, and a 25% decrease in cash flow used from operating activities.

Our management team remains dedicated to creating value and protecting our shareholders and continues to demonstrate its commitment to the future of BTCS through positive steps at improving our capital structure.

From management’s voluntarily return of 12.75 million shares of stock valued at $1.15 million in late 2014, which absorbed nearly all of the dilution from our January 2015 funding, to the recent voluntary escrowing of founder shares representing 15% of the outstanding shares of the company, we are literally “putting our money where our mouth is” and plan to continue to work tirelessly to make our company a success.

Looking ahead, there are several key milestones we anticipate achieving in 2016. We believe our transaction verification services business will lead to rapid revenue growth this year, and our pending merger with Spondoolies should further strengthen our financial performance and product offerings. If we complete these and other initiatives, ultimately we believe we will be in a position to up list to a major exchange this year, greatly improving our visibility in the capital markets and setting the stage for further acceleration of growth as blockchain technology spreads across the global economy.

Blockchain technology is still in its infancy, and just as the Internet has become a ubiquitous driver of global commerce in a relatively short period of time, we believe the impending boom in blockchain adoption is nearly upon us.

On behalf of our management team, I want to personally thank you for your continued support.

Sincerely,

Charles Allen

CEO and Chairman

About BTCS:

BTCS secures the blockchain through its rapidly growing transaction verification services business and plans to build a broader ecosystem to capitalize on opportunities in this fast growing industry. The blockchain is a decentralized public ledger and has the ability to fundamentally impact all industries on a global basis that rely on or utilize record keeping and require trust. BTCS continues to evaluate and build additional blockchain technology consumer solutions. BTCS also actively partners and integrates with strategic digital currency and blockchain technology companies who provide products or services that are complementary to its business strategy. For more information visit: www.btcs.com

Forward-Looking Statements:

Certain statements in this press release, including those related to an anticipated merger, constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its digital currency business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

BTCS Investor Relations:

Michal Handerhan

BTCS Inc.

(202) 430-6576

IR@btcs.com

Michael Sullivan

RedChip Companies, Inc.

(407) 644-4256, ext. 115

michael@redchip.com

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Letter to BTCS Shareholders from the CEO

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Led 06

Gem Leads 2016 Blockchain Investment with $7.1 Million in Series A Funding

Source: bitcoin

Blockchain Companies

Gem, a blockchain platform provider, has announced that it has closed a Series A funding round in which it has secured $7.1 million USD in venture capital funding. This funding round, led by Pelion Venture Partners, places Gem in an early lead for 2016 blockchain investment.

Also read: Fisher Price Will Create Future Generations Of Bitcoin Developers

Gem Secures Significant Blockchain Funding

Several firms participated in this funding round, including KEC Ventures, Blockchain Capital, Digital Currency Group and RRE Ventures. Ben Dahl, a partner at Pelion Venture Partners who led the funding round and has also joined Gem’s Board of Directors told press, “We have been monitoring the blockchain industry looking for a company that could bridge the divide between enabling developers and their projects, while also advancing blockchain use cases in larger enterprises. After spending time with Gem team and their customers, we became convinced they have the foresight, traction and leadership necessary to connect the enterprise with the efficiencies and benefits of blockchains.”

Pelion Venture Partners, leading the Series A funding round, as well as the other participants, will now join a long list of Gem investors including firms such as First Round Capital, Amplify.LA, Birchmere Labs, Tekton Ventures and BTCS Inc. Gem Founder and CEO Micah Winkelspecht told press that his company was happy to bring Ben Dahl and Pelion on board, saying, “It was obvious to us immediately the Pelion team shared our vision for the future of blockchains and what would be required to get there,” said Gem Founder and CEO, Micah Winkelspecht. “We’re excited to have Ben and Pelion join the team and help us do something special.”

According to Gem, this latest funding round raises the company’s total funding to $10.4 million, giving them a solid pool of resources to achieve their goal of providing a “fully customizable platform that refines blockchain technology into a data management application that can be applied cross-industry.”

Gem is a blockchain platform company based in Venice, California. Gem partners with companies to harness blockchain technology with a scalable, modular and custom-built platform. Gem refines blockchain technology to power smart networks that connect industries.

What do you think about this latest announcement from Gem? Let us know in the comments below!


Source: Press Release

 

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Gem Leads 2016 Blockchain Investment with .1 Million in Series A Funding

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