Bitcoin Industry has seen an influx of over a billion dollar in the past two years. It is one of those markets where the money is constantly flowing in, in spite of its less than stellar performance. The price of bitcoin has fallen from over $1000 to about $200 in the span of a bit over 1 year and the industry has taken repeated hits in the form of hacking attacks and scams resulting in losses in the tune of millions of dollars. But the investors, entrepreneurs and enthusiasts are still hanging around as they see a much larger picture when the look at Bitcoin, its evolution and the technology behind it.
The Blockchain technology behind bitcoin is one of the most sought after “platform” by entrepreneurs to build their business on. Blockchain technology’s potential has been realized by companies like bitproof.io, Factom, AstroBlocks, Proof-of-Existence and so on. Other companies are jumping onto the bandwagon, creating apps that they believe will increase the adoption of bitcoin and its underlying technology.
While speaking at the Inside Bitcoins Conference, Barry Silbert – CEO of SecondMarket and a well-known figure in the Bitcoin space mentioned that the Bitcoin industry is just getting started. Being a firm believer in Bitcoin, he has invested in around 48 Bitcoin start-ups including Xapo.
Xapo is the leading secure bitcoin wallet service provider in the market right now. The company is comfortably ahead of other well-funded bitcoin wallet services like Coinbase and Circle in terms of security and customer base. The company has taken the security of its customers’ public keys very seriously to store them in a secure servers disconnected from the internet. The underground vaults housing these servers are guarded by armed personnel. The company also offers Bitcoin debit card connected to a wallet.
International money transfer and banking the unbanked still remains as the most attractive focus areas for bitcoin businesses. The Blockchain technology and bitcoin is now being seamlessly integrated with fiat currency that the next time we are doing anything related to money, we might be using bitcoin without our knowledge.