Could mobile payment Lemon Network be fruitful for bitcoin?
A new network designed to manage payment credentials could provide a useful backdoor to bitcoin adoption in the future. Lemon Network promises to make mobile payments easier, without tying users to a particular payment processor. The system emerged from Lemon Wallet, a popular mobile app for the Android and iOS platforms. It was a simple but powerful concept: instead of carrying your various credit, debit, and loyalty cards in your wallet, scan them, and put them on your phone. You can then use your credit cards easily (as long as you don't try to swipe them). It also featured premium....
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Bitcoin bank and payment processor Xapo faces uncertain waters as much of the company's executive team is being sued for contract violations. The misgivings center on the last months that Xapo co-founder and CEO Wences Casares, along with other Xapo employees, worked for the mobile wallet Lemon. In December 2013, the $1.5 billion online security company LifeLock acquired the mobile wallet for $42.5 million (and rebranded it LifeLock Wallet). As reported by Fortune, the lawsuit is over whether Xapo was originally developed during his and other Xapo employees' time working for Lemon. Or as....
Identity-theft protection company Lifelock has filed another lawsuit against Wences Casares, founder of bitcoin wallet company Xapo. The suit was filed on Monday in Delaware Chancery Court against Casares and his former CFO at digital wallet startup Lemon, Cynthia McAdam, who currently serves as president and general counsel for Xapo. LifeLock has alleged that the two withheld intellectual property related to Xapo and bitcoin integration software for Lemon that should have been included a 2013 acquisition of the startup by LifeLock, according to Courthouse News. The suit also alleges that....
Identity theft protection company LifeLock has acquired Lemon Inc, creator of an innovative digital wallet, for $42.6m. Lemon Wallet launched in 2012 with the aim of "delivering the most consumer focused, secure and innovative digital wallet experience on the market". The app was initially designed as a backup of a physical wallet, but it went on to develop more and more useful features, with users being able access real time account balances and fraud alerts. LifeLock launched its own new app today - LifeLock Wallet - which utilizes all of Lemon's technology to aid users in the management....
LifeLock says that Xapo CEO Wences Casares developed Xapo using LifeLock's resources. The background is that Caseres previously ran Lemon, a digital wallet start-up that was later sold to LifeLock at the end of 2013. Casares and most of the Lemon team became LifeLock employees. LifeLock claims that Casares started Xapo by "using a product developed by Lemon employees, in Lemon's facilities, on Lemon's computers, and on Lemon's dime." Casares initially pushed to have the case thrown out, but a judge in Silicon Valley disagrees, and the lawsuit against current Xapo CEO will move forward. The....
The report has been updated with comment from Steven Ragland, the attorney representing Wences Casares. Several Xapo executives including founder and CEO Wences Casares are being sued for alleged contract violations. The suit, filed in August 2014 by online identity firm LifeLock, alleges breach of contract and breach of fiduciary duty against Casares, president and general counsel Cindy McAdam, and founder and COO Federico Murrone. Xapo employees Fabian Cuesta and Martin Apesteguia were also identified in the suit, according to a report by Fortune. LifeLock purchased Lemon, a digital....