Úno 11

Bitcoin Developer Jeff Garzik Launches Enterprise Blockchain Support Startup

Source: bitcoin


February 11, 2016 – Jeff Garzik, Bitcoin and former RHEL developer, has launched an enterprise blockchain technology startup, Bloq inc. The Company Operates in a similar way to Red Hat, except they develop blockchain tools and offer support for those technologies instead of Linux. This announcement comes at a critical point in the block size debate, suggesting the core developer expects non-bitcoin blockchain tech to be on the upswing in spite of the fallout from the Bitcoin Classic branch split.

Also Read: Coinbase CEO Brian Armstrong Announces Switch to Bitcoin Classic

Garzik Takes Enterprise Linux Experience to the Blockchain


The utility of the blockchain is increasingly apparent, and Garzik is one of a very few developers with significant experience in the field. He cites experience at Red Hat as the inspiration for Bloq. The business model also assumes the best for the future of Bitcoin in the long term, despite the announcement’s convenient timing with negative Bitcoin press.  They are currently working with several Bitcoin-based blockchain platforms, including Circle Internet Financial Ltd, ItBit Trust Company LLC, and KnCMiner AB. Though the announcement comes during a volatile situation within the bitcoin community, the fact that the startup is staking it’s success on bitcoin companies from the get-go tells a lot about it’s vested interest in the long-term success of Bitcoin as well as blockchain tech. Bloq will be working with these companies to better implement software designed to utilize Bitcoin, and offer support for its customers’ blockchain software deployments, in much the same way RHEL does with it’s Linux offerings. The parallels between Garzik’s startup and his former employer are easy to draw.

Visual Approximation of Bloq Inc.’s Business Model

Garzik Has a long history of Linux development, even before he started work at Red Hat. He likes to draw many similarities between working on both Linux and  Bitcoin as an open source developer. In a recent discussion on the Bitcoin Knowledge Podcast, Garzik equates early Linux development to the network effect that Bitcoin enjoys today, among other things:

“You saw the network effect take hold in Linux — both in the software side where companies would require Linux in order to have, say, a database running or something like that and on the developer side you also had a clear network effect [where] Linux developers saw that other very smart people were challenging themselves with this new operating system that came out of a university student from Helsinki, Finland. With Bitcoin today, you have exactly the same thing.”

As we see adoption and research of Bitcoin and blockchain tech expand, enterprise services will grow with them. Garzik’s Startup among others will be critical in bringing Bitcoin and other blockchain technologies to the mainstream market. If enterprise open-source support can work with a complicated OS under a business restrictive license like the GPL, a veteran of the Red Hat business model should be able to bring a lot to the table on the liberally licensed blockchain. Down the Road this means Enterprise interest and investment in Bitcoin, which is good for any open source community in terms of upstream support and development. The fact enterprise Blockchain startups are beginning to appear means there’s a lot of positive interest in Bitcoin and the blockchain in general, regardless of current dev infighting and controversy.

How do you think Bloq inc. will help develop the Bitcoin ecosystem? Leave your thoughts in the comments!

Images Courtesy of Bloq Inc.

The post Bitcoin Developer Jeff Garzik Launches Enterprise Blockchain Support Startup appeared first on Bitcoinist.net.

Bitcoin Developer Jeff Garzik Launches Enterprise Blockchain Support Startup

Led 25

FinTech Boom In Europe Opens Doors For Bitcoin Adoption

Source: bitcoin

Bitcoinist_FinTech Europe

FinTech is an interesting market to keep an eye on these days, even though there is still a lot of education and guiding that needs to take place in the years to come. Tackling the financial sector head-on is not an easy feat, and the process is underestimated by a lot of aspiring entrepreneurs. At the same time, a new report shows that European startups are doing fairly well in this market, which is good news for Bitcoin as well.

Also read: Bitcoin Hash Rate exceeds 1 EH/s For the First Time

Financial Technology Startups Are Hot In Europe

There is no denying FinTech companies are becoming a force to be reckoned with, even though most of these companies are looking to completely disrupt the financial world as we know it. Whereas this market was a very niche concept a handful of years ago, startup accelerators are popping up all over Europe to guide these companies and entrepreneurs in the right direction.

Seedcamp is one of Europe’s leading technology accelerators, and has attracted a lot of interest from investors and companies alike. Their business model has been quite successful as well, considering how they investing in over 200 companies since 2007. While this number might not sound overly stellar just yet, there is a deeper story behind the statistics.

Not all of these companies are still in operation these days, however, although Seedcamp has a lower failure rate compared to most other business accelerators around the world. Close to 150 companies are still operational today, whereas 45 businesses were forced to shut down completely. The remaining 12 startups have exited the technology scene for some reason or another, resulting in a failure rate of under 25%.

Especially the FinTech startups are doing quite well, with companies such as Transferwise, Monese, and Revolut, to name a few All of these new businesses are working hard to revamp the financial ecosystem as we know it, which is of high value to investors all over the world. After all, the main goal of investing is making a profit sooner rather than later, as well as being part of the next “big thing” in the tech industry.

FinTech is a wave of innovation that is slowly starting to emerge, even though the concept has been around for close to ten years already. Disruption in the financial sector does not happen overnight, as a lot of time and money has to be put into research and development. With FinTech companies making up 15% of Seedcamp’s portfolio right now, there is a clear trend as to which type of technology will be the center of attention in Europe for many years to come.

FinTech Success Is Beneficial To Bitcoin

Even though people might think FinTech and Bitcoin are direct competitors, the truth is both industries are two peas in a pod. Contrary to what people might believe, Bitcoin is as much a part of FinTech as financial technology is a part of the blockchain ecosystem. Both sectors are working to achieve the same goal, by giving governments and central banks plenty of things to think about.
Wherever Bitcoin can gain traction, other aspects of Fintech will benefit, and vice versa. The financial world as we know it needs to evolve sooner rather than later, and by creating multiple pressure fronts, that change will be enforced in the near future. A bright future is ahead for FinTech and Bitcoin, and Europe seems to be the place where things will kick off.

What are your thoughts on FinTech and Bitcoin in Europe? What is needed to light the fuse of change? Let us know in the comments below!

Source: TechCrunch

Images courtesy of Shutterstock, Seedcamp

The post FinTech Boom In Europe Opens Doors For Bitcoin Adoption appeared first on Bitcoinist.net.

FinTech Boom In Europe Opens Doors For Bitcoin Adoption

Led 06

D10e Hosts Blockchain Startup Competition in Amsterdam

Source: bitcoin

D10e Hosts Blockchain Startup Competition in Amsterdam

Blockchain startup competitions are an integral part of the Bitcoin ecosystem, as these types of events will drive future technological innovation in this industry. Coming up with new and creative use cases for blockchain technology is a difficult task, but when groups of developers are put together to share their ideas, interesting concepts can become a reality. A new blockchain startup competition has been announced by d10e, taking place in Amsterdam on February 18, 2016.

Also read: More Signs of Trouble in Asia: Barclays to Cut Investment Banking Jobs

The Value of Blockchain Startup Competitions

Unlike blockchain hackathons, where developers have to put together a project within a certain time limit, startup competitions are focusing on something else entirely. To participate in such an event, the startup must have been founded already, and be less than two years old. Any blockchain company that is in the pre-seed or seed stage is eligible for this competition.

What makes events like these so valuable to the Bitcoin community is how different people come up with creative ideas no one else has thought of. Innovation in the world of blockchain technology is accelerated at a rapid pace, as developers start to think outside of the realm of “normal” possibilities.

Some of these solutions might seem a bit far fetched at the time of a blockchain startup competition, but that doesn’t mean they can’t become successful. Most people still see the blockchain as something that can only be used to power payment networks, even though its scope of capabilities extends much further.

Sometimes, the concepts themselves are amazing, but hearing the story of how developers came to creating that very project are what makes these startup competitions thrive. A lot of the projects are built out of frustration with something that happened in the real life of any of the creators, and as they thought about how it could be changed, the blockchain proved to be a powerful ally.

One thing that is hampering Bitcoin and blockchain adoption right now is the limited number of real-life use cases. Startup competitions like the one organized by d10e will bring this technology to consumers all over the world as they can relate to these new projects and ideas. Finding the killer app to put this technology on the map will be the key to success for both the blockchain, as well as Bitcoin.

The d10e Competition In Amsterdam

For those blockchain startups looking to enter the d10e competition in Amsterdam, the application deadline expires on January 15th. Along with the application, entrants must submit a two-minute video of a working product. Once a startup is selected, they can then pitch their idea on February 18, 2016, to a panel of VC’s, angel investors, and a live audience at Beurs van Berlage in Amsterdam.

As one would come to expect from any startup competition, the grand prize is prestige for their product. On top of that, a lot of attendees will be looking for network opportunities with the winners, and press coverage will follow shortly after. Last but not last, the blockchain startup competition winners will be invited to pitch their project at d10e San Francisco 2016.

What are your thought son this blockchain startup competition? Are there projects you are looking forward to? Let us know in the comments below!

Source: d10e

Images courtesy of Shutterstock, d10e

The post D10e Hosts Blockchain Startup Competition in Amsterdam appeared first on Bitcoinist.net.

D10e Hosts Blockchain Startup Competition in Amsterdam