Bitcoin startup gets funding from big banks

[JohnQPublic]

Bitcoin startup gets funding from big banks (http://www.marketwatch.com/story/bitcoin-startup-gets-funding-from-big-banks-2016-01-21?link=MW_home_latest_news)


Digital Asset Holdings LLC, a startup trying to develop mainstream uses for blockchain technology and led by star banker Blythe Masters, has raised more than $50 million from 13 investors including J.P. Morgan Chase & Co., Citigroup Inc., BNP Paribas SA, CME Group Inc. and Accenture PLC, the company said.


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The round was the first major external fundraising for Digital Asset, which is now one of the best-funded startups seeking to apply the blockchain process to Wall Street. Ms. Masters was formerly the global head of commodities at J.P. Morgan, among other senior roles.

The company may announce more funding from additional banks in the coming weeks, people familiar with the talks said.

[Joshua01]

Bitcoin startup gets funding from big banks (http://www.marketwatch.com/story/bitcoin-startup-gets-funding-from-big-banks-2016-01-21?link=MW_home_latest_news)


Digital Asset Holdings LLC, a startup trying to develop mainstream uses for blockchain technology and led by star banker Blythe Masters, has raised more than $50 million from 13 investors including J.P. Morgan Chase & Co., Citigroup Inc., BNP Paribas SA, CME Group Inc. and Accenture PLC, the company said.


<:o:o:o:o:o:o:o:o:o:o>


The round was the first major external fundraising for Digital Asset, which is now one of the best-funded startups seeking to apply the blockchain process to Wall Street. Ms. Masters was formerly the global head of commodities at J.P. Morgan, among other senior roles.

The company may announce more funding from additional banks in the coming weeks, people familiar with the talks said.

My shocked face :-O

[singular_me]

foreseeable... predictable... the subversion of bitcoin is now underway... decentralization is a scourge


OP
The decentralized ledger system used to record transactions for the digital currency bitcoin has received an endorsement by a group of the world's biggest banks and stock exchanges.

[mick silver]

I told people that big banks were the ones setting this up , why not let tech people do all the work for free then take what they did and start up your own bitcoin

[EE_]

The only difference between bitcoins and bankcoins will be, bankcoins will be unlimited in the number they can create.
This comes as no surprise, their quest is for a cashless society.

[Joshua01]

The only difference between bitcoins and bankcoins will be, bankcoins will be unlimited in the number they can create.
This comes as no surprise, their quest is for a cashless society.

If you don't hold it, you don't own it. All these electronic means of currency (FRN's especially) are subject to the big bank's manipulation. Physical assets (that would be PMs folks) are the only way to protect and shield your wealth from TPTB

[madfranks]

Bitcoin startup gets funding from big banks (http://www.marketwatch.com/story/bitcoin-startup-gets-funding-from-big-banks-2016-01-21?link=MW_home_latest_news)


Digital Asset Holdings LLC, a startup trying to develop mainstream uses for blockchain technology and led by star banker Blythe Masters, has raised more than $50 million from 13 investors including J.P. Morgan Chase & Co., Citigroup Inc., BNP Paribas SA, CME Group Inc. and Accenture PLC, the company said.


<:o:o:o:o:o:o:o:o:o:o>


The round was the first major external fundraising for Digital Asset, which is now one of the best-funded startups seeking to apply the blockchain process to Wall Street. Ms. Masters was formerly the global head of commodities at J.P. Morgan, among other senior roles.

The company may announce more funding from additional banks in the coming weeks, people familiar with the talks said.

That's not a bitcoin startup, it's a blockchain startup. The bitcoin protocol basically invented the blockchain, which is a decentralized method to verify events and dates they occur. Other industries have seen uses for blockchains in their own way. For example, contracts can be executed with the date of execution stored on a blockchain, easy for any party to verify at any time. Transfers of title can be logged on a blockchain, proving who owns what. It's not limited to currency trading.