Recently, CoinDesk released a post titled “With Bitcoin’s Price Down, VCs Turning to Blockchain Technology”. In the article there are quotes like this from Cross Pacific Capital’s (CPC) Marc van der Chijs “We look more at blockchain startups, and not pure bitcoin payment companies like wallets and exchanges.”
Managing Partner of Blockchain Capital, Bart Stephens, told CoinDesk “There’s been a realization that [the blockchain is] an incredible tech layer, but the conversation doesn’t end there, you’re seeing the conversation broaden out of financial services, how can it be leveraged for identity management, smart contracts and international trade.”
With our impending acquisition of Blockchain Technologies Corp., we thought it’d be a good idea to ask our CEO, John Matthews his thoughts on this article:
“Well, it’s no surprise to us that VCs are beginning to realize what we’ve known for a while, blockchain technology will end up being far more valuable than bitcoin in the long run.”
Mr. Matthews went on to say, “That’s why we believe we’re giving investors an opportunity to invest like a VC. Our BTC acquisition will give us 6 blockchain startups with both provisional and non-provisional patents, and more potentially on the way.”
This is not the first feature we’ve found championing the potential of blockchain technology over Bitcoin. Another report from September 21st showed that Verizon’s venture capital arm, Verizon Venture, feels the same way.
Director of Verizon Venture Ed Ruth said “As we started looking at the protocol, it became apparent that blockchain had a bigger potential than the specific bitcoin or cryptocurrency use case.”
Keep an eye on this space as we will continue to keep you updated on pertinent blockchain news as well as provide insight from our Management.