Blockchain-Based Digital Cash Platform Raises $1.12 Million
Safe Cash Payment Technologies, a blockchain-based digital cash platform that will enable consumers to purchase digital tokens in exchange for cash, has raised $1.12m in seed funding. The San Francisco-based company procured funding from investors including InfoSpace founder Naveen Jain, who said the platform was "on to a very disruptive idea". Speaking to CoinDesk about the platform, which uses a litecoin-compatible private blockchain and is expected to launch early next year - Chris Kitze, the firm's CEO, said: "Our platform is a permission-based blockchain that's licensed to and....
Related News
Ledn, which lets users earn interest on saved bitcoin or access bitcoin-backed loans, raised $2.7 million in a financing round. The post Bitcoin-Based Lending And Savings Platform Ledn Raises $2.7 Million appeared first on Bitcoin Magazine.
A blockchain startup that will enable the purchase of digital tokens for cash has raised $1.2 million in equity financing. Safe Cash Payment Technology (SCPT), as the startup is called, aims to amalgamate the traditional banking protocols with the Bitcoin-led digital currency systems. The service briefly involves banks in the process of selling its native digital currencies by appointing them the role of distributors. Customers only need to visit these banks and purchase the digital tokens in exchange for cash. Though a highly centralized system, SCPT ensures its protocol to be the easiest....
Billon, a former Polish based now London-headquartered start-up, has raised $2 million to “further investment in its UK and Polish partnerships,” according to a press release. Somewhat uniquely, the start-up claims they have implemented a “proprietary blockchain technology,” which turns fiat into digital cash. They state they are “interconnected to 2 banks, 6,000 ATMs and 18,000 kiosks through partnerships in Poland.” We found it difficult to learn more about its underlying infrastructure. There is no code to analyze, no technical whitepaper, any public information appears very general,....
Safe Cash, a blockchain-based cash payment service, claims it can handle 25,000 transactions per second – more than 3,000 times as many as the bitcoin network – bringing cash into the electronic ecosystem. Safe Cash is an end-to-end secure payment platform giving banks, businesses and consumers instant and final cash-based transactions. Banks provide tokens redeemable for cash, allowing cash to be used as a digital asset. Transaction settlement occurs in less than 5 seconds. “It (cash) is the only payment today that hasn’t been brought into the electronic ecosystem,” a video noted on the....
By raising $1 million in seed funding, blockchain startup RSK Labs will develop Rootstock, a smart contracts platform that will be deployed as a sidechain on the bitcoin blockchain. In a funding round led by bitcoin mining hardware company Bitmain Technology, RSK Labs has raised $1 million in a successful initial seeding round to develop Rootstock – a smart contracts platform secured by the bitcoin blockchain. The funding round was supported by London-based blockchain investment firm Coinsilium and New York-based bitcoin- and blockchain-investor Digital Currency Group. The first of its....