Paypal Co-Founder Backed Brokerage Launches
According to news reports, an electronic brokerage startup that is backed by one of the founders of Paypal has recently launched.
Tagomi Holdings Inc. is an electronic brokerage for digital assets.
The firm’s offering include cross market execution, capital management, post-trading reporting, as well as settlement and custodial services.
Tagomi Holdings Inc was able to raise around $16 million from a number of renowned institutions such as Peter Theil’s Founders Fund, SV angel, and Collaborative fund among others.
Founders Funds is a venture capitalist firm that invests in technology companies while SV Angel is a Fund that invest in seed-stage investments.
Collaborative Fund on the other hand is a private equity and venture capital firm.
The startup aims to east the operation challenges related to trading digital assets and they primarily aims to cater to clients that require institutional grade standards, this is according to the company’s Chief Executive officer, Jennifer Campbell.
tZero To Develop Smart Contract Token For Rare Metals
A Hong Kong-based Private equity firm has reportedly contracted Overstock.com Inc.’s subsidiary tZero Group Inc. to develop a smart contract token.
According to a press release GSR capital wants to use digital tokens for sale of Cobalt.
The said firm is focused on developing an ecosystem in Asia for tokenized commodity purchase contracts that it thinks will improve the supply chain process of rare metals.
This is in line with both parties’ plan to launch a security platform in the said region.
The token will facilitate the sale of cobalt which is slated to be launched in 2019.
Cobalt to be sold are used in electronic vehicle battery grade and the amount that was reportedly for sale will reach up to $200 million worth of the rare metal.
According to the CEO of Overstock and tZero executive chairman, Patrick Bryne, the smart contract automation of these transactions will significantly reduce overall cost while effectively improving transparency in rate earth metals purchases.
Bitcoin Satellite Service Boost Services With Lightning Payments
Back in August 2017 Blockstream launched the first Bitcoin satellite services which allows direct transmission of Bitcoin transaction without the use of the internet.
This service enables users to transfer bitcoin through leased satellites.
The service was initially available for users in Africa, Europe and the Americas.
According to its CEO Adam Back the service is caters to individual with limited internet acces or those who face issues accessing bitcoin.
This innovative service hopes to boost its services with its integration with the Lightning Network.
The Lightning Network is a second layer scaling solution that addresses weaknesses of the main bitcoin network which is plagued with slow and expensive transactions processing.
Mr. Back also reveals that there have been lots of developers that have taken an interest to build local infrastructure using the satellite service especially in emerging markets.
The firm is currently planning to expand its services on the Asia-Pacific Region.
To be able to use the system users just need a small satellite dish similar to that of TV satellite receivers that is connected by USB to a personal computer or dedicated computer hardware.
Free and open-source software, such as GNU Radio, can be used for managing the Connection.
Using this set up users will be able to receive bitcoin data without their internet service provider being able to see the transactions.
Tim Draper Invest $1.25 Million Into OpenNode
It is no secret that Tim Draper is a Bitcoin whale and Maximalist.
He is the founding partner of Draper Associates and Draper Fisher Jurvetson (DFJ) Venture Capital.
He is also an early blockchain investor who has backed several blockchain-related startups throughout the years.
Recently, he has invested $1.25 million in OpenNode, a bitcoin-only payments processing startup.
According to reports this fresh investment will be used to expand the team and strengthen its legal and compliant efforts.
The firm aims to provide instant and risk-free bitcon payments for businesses.
It generates revenue by charging 1 percent for transactions.
OpenNode plans to leverage the Lightning Network, a transacting layer on top of the bitcoin which is being developed in an effort to enable faster and cheaper transaction when using bitcoin.
With the use of lightning network it plans to cut cost of using bitcoin as a payment method, promote innovative payment models and improve the user experiences of clients.
Lightning Network Adoption Will Micmic Bitcoin’s
Pierre Rochard has recently revealed that he believes Lightning Network (LN) adoption will basically follow the same path of Bitcoin’s.
He said that user adoption will probably start in the grassroots level where it normally does.
However for this to be true users will need tools that allow them to work with the protocol.
One of the earliest tools for LN is created by Rochard himself- a SpreadSheet LN plug-in.
This enables the interaction with Bitcoin’s network.
With this solution he was able to create a Spreadsheet plug-in that essentially enables spreadsheet users to send payments from an Excel spreadsheet.
He also created a node launcher GUI to help people to set up a lightning and bitcoin node locally for the plugin to connect.
He states that proponents of the lightning network would like to onboard the full spectrum of users therefore there should be available tools that will be able to cater to the different types of users.
From people who are using Lightning on their mobile device wallet, to the people that are using lightning a Chrome extension or to people who are using Lightning in an Excel spreadsheet with a plugin.
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