The rise of cryptocurrencies, and especially the interest in Blockchain technology has put new startups in several VC funds’ crosshairs.
There are an increasing amount of institutions who are putting aside skepticism towards digital assets. The introduction of cryptocurrency is slowly changing the way people use money. Blockchain technology uses a decentralized approach in which speed, efficiency, and fluidity are the main selling points.
Bitcoin was the first cryptocurrency to be ever created, and because of its ‘network effect’, it is the one with the highest market capitalization, adoption rate, and user base. Bitcoin’s arrival sparked a movement which is quickly gaining adepts: nomads, anarchists, liberals, and even conservatives.
2016 has been a vigorous and fruitful year for this technology. The so-called money ‘experiment’ has proven to be resilient after 7 years. In this article we decided to elaborate on the top 3 most interesting Blockchain startups of 2016:
Led by Anthony Di Iorio, co-founder of Ethereum and VC-entrepreneur, Decentral is a Canadian company which offers Blockchain and FinTech consultancy services and software development. The company has gained an advantageous position thanks to its flagship product: Jaxx, a digital asset multiplatform wallet.
The app started supporting Bitcoin and Ethereum, but it has quickly expanded into other assets such as Ethereum Classic, Zcash, Dash, and Monero support. Jaxx is continuously integrating more coins, furthermore, Decentral’s roadmap includes the release of a digital assets hardware wallet.
CONSENSUS SYSTEMS (CONSENSYS)
Founded by Joseph Lubin in 2015 (another ex-Ethereum Foundation team member), ConsenSys is a New York-based venture production studio focused on building (you guessed right) decentralized applications and toolchains for blockchain ecosystems, mainly Ethereum. The company has tackled multiple projects like identity and reputation systems, decentralized exchanges, and electronic signature management. ConsenSys also functions as an incubator and accelerator of new Blockchain-based ventures.
Founded in 2012, the US-based company is a digital currency wallet and platform. Coinbase is the leading wallet provider, with over 5 million registered users, and it’s recognized as one of the most popular, trusted ways to acquire digital currency from a myriad of countries. Coinbase has received over $117 million in several investing rounds, making it one of the most funded blockchain-related companies.
Despite enjoying a very successful year, Coinbase suffered a great blow when the Internal Revenue Service (IRS, Tax Agency) sent a request to the company (one of the most popular Bitcoin exchange in the US) demanding customer’s information ranging from 2013 to 2015. The case is under development right now, but it appears the summon will be unavoidable and Coinbase will be forced to disclose its user’s financial information.
Honorable mentions: Purse.io, Digix, Golem, Gnosis.