Bitcoin growth is outpacing that of the early stage internet by almost 25%; an Estonian Angel List service will utilize Bitcoin’s blockchain to secure its marketplace, and more top stories for July 28.
Bitcoin Investment Grows 25% Faster Than the Internet in its Early Years
In terms of investment, Bitcoin growth is outpacing that of the early stage internet by almost 25%, according to the latest figures compiled by IB Times UK. Venture capitalist investment in Bitcoin startups is projected to be US$786 million in 2015, compared with US$639 million in internet companies in 1996. Gathered data also revealed that investment in Bitcoin startups will double year-on-year from 2014.
Estonian Angel List Service Secures Marketplace with Bitcoin’s Blockchain
Funderbeam, an Estonian Angel List-like service allowing investors to find and fund European startups, will utilize Bitcoin’s blockchain to secure its marketplace. The company announced that they are adding a new intelligence service, giving investors greater access to data about startups, the market at large, and a marketplace for equity.
Funderbeam CEO Kaidi Ruusalepp said:
“Every syndicate is paired with a microfund that owns actual stakes in startups. So when syndicate members want to trade all or parts of their holdings, they’ll trade digital stakes in that microfund. These rights are represented by digital tokens (colored coins) on the bitcoin blockchain.”
Russian Bank Refuses to Pay Half Million Dollar Ransom in Bitcoin
Bank Saint-Petersburg has refused to pay a ransom to hackers who stole the account information of over 300,000 clients. In a seemingly increasingly popular trend, the cyber criminals offered to remain silent for 29 million rubles (~US$500,000) payable in bitcoin. The bank, however, said that the stolen information is not sufficient to cause any real damage to the bank or its clients.
According to the bank:
“Specialists studied the situation and determined