Differential is getting into the digital currency (Bitcoin, etc.) business through a new subsidiary organization, SimpleCoin.
What is Digital Currency?
Digital currencies, also known as cryptocurrencies, are new virtual currencies that threaten to supplant traditional, government-backed securities for everyday commerce. It already has strong traction, hockey stick growth, and has for the first time made it so easy to transmit funds, that micro-payments are now a reality.
Attention to digital currency, including the most prominent currency Bitcoin, is acutely on the rise. While we cannot know if the price of a Bitcoin is headed to $0 or $1M, the current environment reminds us of the Internet in 1994. Bold individuals made a lot of money in the turbulent first five years of that revolution.
What will SimpleCoin do?
Simplecoin aims to develop deep digital currency domain knowledge, and to develop products and services that enable individuals and businesses to benefit from the disruption. In short, we plan to make it easier for consumers and business to interact with prominent digital currencies.
We're starting with projects primarily chosen to drive our learning, and expect that with increased knowledge and visibility, we will be led to very interesting projects in the space.
Due to the competitive and fast-moving nature of the digital currency domain, we are not revealing full-details of our product road map publicly.
Things are moving fast
We went from building a pitch deck to completing commitment of seed funding in two weeks, while collecting a stellar group of strategic seed investors.
Much more to come from this—we're excited to take a leadership role in this wild new frontier.