Public, private or permissioned?
The argument over which type of blockchain technology platform will gain market share continues to be a point of analysis for industry observers.
So far, major banks have cast their vote, lining up to invest big money in private or permissioned blockchain tech startups like Digital Asset Holdings and Ripple, which have together raised nearly $100m from investors including CME Group and JP Morgan Chase.
However, with Blockstream’s latest $55m Series A, the startup is emerging as a well-capitalized counterpoint to these companies, promoting the commercialization of blockchain tech not through proprietary bitcoin alternatives but through products and services that aim to build on what it describes as the battle-tested bitcoin code base.
Comments from participating venture capital firms suggest the message that the bitcoin blockchain will be able to compete against alternatives for commercial applications is resonating.
Manish Agarwal, general partner at AXA Strategic Ventures, for example, said he believes that there is a future in commercial use cases for public blockchains.
Agarwal told CoinDesk:
”We believe that the blockchain technology has the potential to dramatically reshape the financial services landscape. The public blockchain is a key part of that, in my view. We are