Bitcoin. Currency of the people, by the people, for the people. Currency of the future? Only time will tell. So far, this crypto-currency has made quite a splash in the worlds monetary system. We are excited to see what the future holds. Here are five startups blazing the way to a brave new world.
Andinero – Creation, maintenance and operations of semi virtual, private and anonymous currency based on gold reserves.
In this day of age, digital theft of digital currency is at an all time high. One startup aims to fight the issue head on. Andinero, an Estonian startup provides a safe alternative to the more popular crypto-currency of Bitcoin, Litecoin and Ripple. Andinero is a new type of digital currency, backed up by real and raw physical asset; Gold. Some highlighted features include free and completely anonymous transfers and a relatively stable value. In a world where stable value is a rarity, Andinero might just have the upper hand.
Bitpay – a payment processor that specializes in processing bitcoin payments.
In the world of crypto-currency startups, one stands above the rest as our hometown hero. Founded in May 2011 by Anthony Gallippi and Stephen Pair in Atlanta, GA, Bitpay is the current industry leader in bitcoin payment service providers. Dubbed the “Paypal of Bitcoin”, this startup allows a platform to enable bitcoin transfers for everyday merchants all the way to grammy nominated metal bands. When locally born national metal bands like Mastodon decide to partner with companies like Bitpay, the trend of crypto-currency could not be more apparent.
Maidsafe – a fully decentralized platform on which application developers can build decentralized applications.
One Scottish startup Maidsafe claims to have decentralized the internet. A decentralized internet is an attractive and ripe environment for bitcoin users and farmers to grow and transfer easily and safely. The idea is that these services will be free, not only from authoritarian shutdowns and seizures, but also hackers and other malicious attacks. For Bitcoin, this is the equivalent to private credit unions vs nationally owned banks.
Circle – a Bitcoin consumer finance company focused on transforming the world economy.
One quiet boston based startup known as Circle, plans to take Bitcoin currency mainstream. Current bitcoin technology requires deep understanding of public key cryptography software and bartering techniques, but circle plans to develop an easier system. A system we use every day, depositing and withdrawing money, using our debit and credit cards for purchasing, our day to day banking. Instead of forcing customers to learn what amounts to a new language to use bitcoin, Circle tries to make the experience as similar to retail banking accounts as possible. Best part is, the service is entirely free.
Lammasu Bitcoin Solutions – The Bitcoin ATM Machine
Lammasu Bitcoin Ventures has created a machine to simplify the bitcoin process. The machine acts as a Bitcoin ATM of sorts, that exchanges fiat money for bitcoins in less than 15 seconds. Due to the nature of bitcoins, only one way transfers are currently a possibility. Just as BitPay delivers “an amazing solution to the payment side,” Lamassu aims to provide “the solution to customers obtaining bitcoins.” The first 10 to 20 machines were shipped last summer to countries; Canada, the UK, Argentina, South Africa, Israel and Australia.