Blockchain Capital To Fund Non-Financial Use Cases for Bitcoin Technology

Most Bitcoin enthusiasts around the world are focusing their promotional efforts on explaining blockchain technology to novice users and anyone who will listen. At this point, most of the blockchain technology development efforts are focused on the financial aspect. Blockchain Capital is planning to change that.

Blockchain Capital, Formerly Known as Crypto Currency Partners

The name Blockchain Capital may not ring a bell with some of our readers, and that is only normal. This firm started out under the name Crypto Currency Partners and is best known for the person in charge, who is none other than Brock Pierce. But that is not all, as this firm has made a name for itself due to its investments in Bitcoin and blockchain-related projects.

On the list of projects Crypto Currency Partners has invested in,  are names such as Xapo, Blockstream, Ripple Labs and Coinbase. Despite that success, a rebrand to a more “mainstream name” was in order, which is a direct result of other mainstream companies associating with the term “blockchain”.  Rather than expressing their interest in Bitcoin, various financial – and other – institutions are showing legitimate interest in the underlying blockchain technology.

When asked about the rebranding to Blockchain Capital, managing partner Bart Stephens stated: “We’ve realized that the currency aspect of bitcoin is too narrow to define the industry. We see blockchain as the foundational technology layer, the software that enables you to exchange value, all different types of assets, whether it’s the keys to your car or the key to your house.”

Despite the rebranding, Blockchain Capital’s focus will firmly remain on Bitcoin and the blockchain. In fact, there aren’t too many competitive blockchain in existence right now, other than Ripple. It may still be a bit early to judge, but it looks like the Bitcoin blockchain will be the end-all for future development, regardless of how many altcoins are claiming to offer a better alternative.

In more recent news, Blockchain Capital managed to raise US$7m toward their second investment fund for Bitcoin and blockchain-related ventures. And the main focus on this new round of funding will be to develop non-financial use cases for blockchain technology. Doing so would be a nice change of pace from the current development process.

Less Focus on Financial Use Cases

If things go according to plan, we will see an influx of non-financial blockchain use cases in the next two to five years. Blockchain technology offers so many possibilities, yet most developers are only tackling it from a financial point of view. Blockchain Capital hopes to change that, and will use their latest round of funding to achieve that goal.

“The term blockchain to us means that the blockchain is the infrastructure layer that enables the exchange of value, just like TCP/IP enabled the exchange of data on the Internet. For us, value can be all sorts of things.” – Bart Stephens told DigitalMoneyTimes.

Bitcoin enthusiasts can only hope this new wave of innovation will finally lead to mass adoption of the disruptive digital currency. One of the biggest PR problems Bitcoin has is its limited use cases in terms of everyday consumerism. With new technologies and implementations being developed, that situation may change by 2020.

Source: Press Release via Email

Images courtesy of Blockchain Capital and Shutterstock