State of the blockchain markets, july 2016

Blockchain Applications, July 2016
Tracxn
World’s Largest Startup Research Platform
2

Contents
Topic Page No.
Scope of Report 05
Entrepreneur Activity 07
Investment Trend 09
Who is Investing 17
Exit Outlook - IPO, Acquisitions 21
Sub Sector Analysis 23
Interesting Companies 38
Useful Links 47
Company List 49
Team 158
3
3

Illustrative Sectors We Track
ENTERPRISE
INFRASTRUCTURE
ENTERPRISE
APPLICATIONS
MOBILEFINTECH
TECH CONSUMER EDUCATION HEALTHCARE
SECURITY
STORAGE
NETWORKING
MOBILITY
IT OPS
CLOUD INFRASTRUCTURE
API MANAGEMENT
BIGDATA INFRASTRUCTURE
SAAS
MOBILE-FIRST ENT. APPS
INTELLIGENT ENT. APPS
OPEN SOURCE
RETAIL TECH
MARKETING TECH
STEALTH MODE
VERTICAL SAAS
MOBILE COMMERCE
MOBILE PAYMENTS
MOBILE MARKETING
MOBILE DEV TOOLS
MOBILE HEALTH
MOBILE GAMING
MOBILE LEARNING
MOBILE COMMUNICATION
BANKING TECH
PAYMENTS
CONSUMER FINANCE
INVESTMENT TECH
BLOCKCHAIN APPLICATIONS
REMITTANCE
CROWDFUNDING
ALTERNATIVE LENDING
INTERNET OF THINGS
3D PRINTING
MARKETPLACE
FOOD TECH
EDUCATION IT
SELF LEARNING
LIFE SCIENCES
DIGITAL HEALTH

Sector Overview
Category Description
Financial Services Applications of Blockchain Technology in Financial Services
Enterprise Solutions Enterprise applications of Blockchain Technology
Technology Enablers Companies enabling blockchain technology implementation
Consumer Companies targeting consumer focused use-cases of blockchain technology
Scope of report
Blockchain is the technology that enables permanent, immutable and shared storage of data, where the exact same set of data
can be accessed and operated on by multiple industry players simultaneously. This helps to eliminate the concerns related to
interoperability of data management systems. The earliest use-case of blockchain technology is Bitcoin, the widely known
cryptocurrency.
Blockchain has applications across industries including but not limited to Financial Services, Supply Chain, Healthcare, IoT.
Within Financial Services, its most exploited use cases have been: Post-Trade settlement solutions for Capital Markets, Cross
border money transfer, P2P Insurance and Re-Insurance, Trade Finance.
The broader categories into which blockchain use-cases can be divided is as per the following:
The scope of this report includes equity as well as debt funding received by the companies.

Scope of Report
Entrepreneur Activity
Investment Trend
Who is Investing
Exit Outlook - IPO, Acquisitions
Sub Sector Analysis
Interesting Companies
Useful Links
Company List
Team
6
6

YoY – Number of companies founded
1 3
12
47
159
150
32
0
36
72
108
144
180
2010 2011 2012 2013 2014 2015 2016
NumberofCompanies
My Market Partners Mirror Ripple PeerNova Blockstream Symbiont Civic Technologies

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
8
8

YoY – Number of Rounds and Total Funding
$8M $8M
$92M
$202M
$178M
1
1
9
56
71
38
0
10
20
30
40
50
60
70
80
0
50
100
150
200
250
2010 2011 2012 2013 2014 2015 2016
NumberofRounds
FundingAmount(inMillions)
Funding Amount Number of Rounds
Note: The funding includes debt rounds also.

YoY – Number of Rounds by Stage
8
41
44
25
1
9
21
12
1
0
14
28
42
56
70
2011 2012 2013 2014 2015 2016
NumberofRounds
Seed Early Late

YoY – Funding by Stage
$8M
$48M
$31M $29M
$43M
$168M
$149M
$0.1M
0
50
100
150
200
250
2011 2012 2013 2014 2015 2016
TotalFundingAmount(inMillions)
Seed Early Late

Average Ticket Size – Early Stage
$2.5M
$4.4M
$1.4M
$1.9M
$8.6M
$12.9M
$33.7M
$28.3M
$1.9M
0.0
8.0
16.0
24.0
32.0
40.0
2013 2014 2015 2016
Seed Series A Series B

Top investments in last one year
Company
Funding
Amount
Round
Name
Date Investors
digitalasset.com
Digital Asset Holdings
(New York City, 2014)
$60M Series A Jan-2016
ABN AMRO Bank, Accenture, Australian Securities Exchange, BNP Paribas, Broadridge
Financial Solutions, Citigroup, CME Group, Deutsche, ICAP plc, J.P. Morgan, Santander
InnoVentures, DTCC, PNC Financial Services Group, Goldman Sachs, IBM
blockstream.com
Blockstream
(San Francisco, 2014)
$55M Series A Feb-2016
Horizons Ventures, AXA Strategic Ventures, Digital Garage, AME Cloud Ventures,
Blockchain Capital, Future Perfect Ventures, Khosla Ventures, Mosaic Ventures,
7seasvc.com
chain.com
Chain
$30M Series B Sep-2015
Capital One, ventures.citi.com, Fiserv, NASDAQ, Orange, VISA, RRE Ventures, Khosla
Ventures, Thrive Capital, SV Angel, Pantera Capital
aligncommerce.com
Align Commerce
$13M Series A Nov-2015
KPCB, SVB Financial Group, Pantera Capital, Digital Currency Group, Recruit Strategic
Partners
keybase.io
Keybase
$11M Series A Jul-2015 Andreessen Horowitz, Corazon Capital
mirror.co
Mirror
$9M Series A Jun-2015 Route 66 Ventures, RRE Ventures, Crosslink Capital, Battery Ventures
gem.co
Gem
(Venice, 2014)
Pelion Venture Partners, KEC Ventures, Blockchain Capital, Digital Currency Group,
RRE Ventures, Tekton Ventures, Amplify.LA
symbiont.io
Symbiont

Top investments in last one year
Company
Funding
Amount
Round
Name
Date Investors
techbureau.jp
Tech bureau Lab
(Osaka, 2015)
$6M Series A May-2016
Arara, Infoteria, OKWAVE, Nippon Technology Venture Partners, Money Partners
Group, h-vc.co.jp
peernova.com
PeerNova
(San Jose, 2013)
$6M Series A Sep-2015
augur.net
Augur
$5M Series A Oct-2015
elliptic.co
Elliptic
(London, 2014)
$5M Series A Mar-2016
Paladin Capital Group, Santander InnoVentures, krw-schindler.com, Digital Currency
Group, Octopus Ventures
filament.com
Filament
(Reno, 2012)
$5M Series A Aug-2015
Bullpen Capital, Verizon Ventures, Crosslink Capital, Samsung Ventures, Working Lab
Capital, Techstars, Digital Currency Group
stem.is
Stem Disintermedia
(Los Angeles, 2015)
$5M Seed Apr-2016
Upfront Ventures, Vayner RSE, Three Six Zero, Ludlow Ventures, Blockchain Capital,
Third Wave Digital
ripple.com
Ripple
$4M Series A Oct-2015 Santander InnoVentures
ipn.io
Protocol Labs
$4M Seed May-2016

Funnel view of Sector
Percent of
Previous
29%
20%
13%
8
0
3
24
120
412
0 90 180 270 360 450
M&A & IPO
Late
Series B
Series A
Funded
Founded
Number of Companies

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
6
16

Most Active Investors in Sector
17
11
10
9
8
6
5 5 5 5
0
4
7
11
14
18
Digital Currency
Group
Blockchain
Capital
RRE Ventures Boost Pantera Capital 500 Startups Crypto Currency
Partners
Andreessen
Horowitz
SV Angel Union Square
Ventures
TotalNumberofCompanies
Ripple Blockstream Chain Mirror Chain BlockCypher Chain Ripple Chain Onename
Align Commerce Ripple Ripple Align Commerce Align Commerce Fluent Network PeerNova Keybase Onename Mediachain

Where are Top Investors investing
Digital
Currency
Group
Blockchain
Capital
RRE
Ventures
Boost
Pantera
Capital
500
Startups
Crypto
Currency
Partners
Andreessen
Horowitz
SV Angel
Union
Square
Ventures
Financial
services
Ripple
Align
Commerce
Elliptic
Ripple
PeerNova
Noble Markets
Ripple
itBit
Align
Commerce
Pylon
Align
Commerce
Skry
Sabr
PeerNova
AlphaPoint
LedgerX
Ripple
Technology
Enablers
Gem
RootStock
Blockstream
Gem
BlockCypher
Chain
Mirror
Gem
Mirror
BlockCypher
Chain
BlockCypher
Neuroware
Chain
Gem
TradeBlock Chain
Enterprise
Solutions
Filament
Civic
Technologies
Fluent
Network
Stem
Disintermedia
Tierion
Stampery
Mediachain
Stampery
Bitproof
Chronicled
Civic
Technologies
artCOA
Fluent
Network
Keybase
Mediachain
Onename
Onename
Mediachain
Consumer ZapChain OB1 OB1

Top Investor by Stage of Entry
Digital Currency Group 11
Blockchain Capital 7
Boost 7
500 Startups 5
Crypto Currency Partners 5
RRE Ventures 4
Fenbushi Capital 4
Y Combinator 4
Plug and Play Ventures 3
AME Cloud Ventures 3
Pantera Capital 1
Capital One 1
Investor Name 1
Khosla Ventures 1
NASDAQ 1
Orange 1
Fiserv 1
RRE Ventures 1
SV Angel 1
Thrive Capital 1
500 Startups 18
Seed Series A Series B Later Stage
Digital Currency Group 5
RRE Ventures 5
Blockchain Capital 4
Santander InnoVentures 3
Liberty City Ventures 3
Horizons Ventures 2
AME Cloud Ventures 2
Khosla Ventures 2
CME Group 2
Pantera Capital 2

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
0
20

Major Acquisitions in last one year
Date Company Acquirer Overview
Apr-2016 elevence.com
Elevence Digital Finance
(Zurich, 2015)
Technology for rights/obligation determination on blockchain
Mar-2016 xapcash.com
XAPCASH Technologies
(Vancouver, 2015)
Blockchain Technologies Ltd
Blockchain based remittance company
Oct-2015 blockstack.io
Blockstack
Enterprise software stack for financial services to create
blockchain 2.0 applications quickly and easily.
Jun-2015 blockchaintechcorp.com
Blockchain Technologies Corp
Global Arena Holdings
Blockchain technnology provider and startup accelerator
Jun-2015 bitsofproof.com
Bits of Proof
(Budapest, 2013)
Enterprise level server to integrate blockchain technology into
financial applications

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
2
22

July 2016Tracxn BlueBox : Blockchain Applications
Cumulative funding in the sector
400+ companies in the sector, 134 funded, $380M invested in 2015/2016
Most Active Investors: Digital Currency Group, Boost VC, Pantera Capital, Blockchain Capital
FINANCIAL SERVICES $230M
Trading
Digital Asset Holdings (2014, $60M)
Payments
Ripple Labs (2012, $36M)
Banking
MONI (2014, $1.5M)
Lending & Investing
Waves Blockchain Token Platform (2016, $2M)
TECHNOLOGY ENABLERS $192M
Side Chain
Blockstream (2014, $76M)
Application Development Platforms
Chain (2014, $44M)
Service Providers
TradeBlock (2013, $3M)
Smart Contracts
Mirror (2011, $13M)
ENTERPRISE SOLUTIONS
Internet of Things
Filament Networks (2012, $11M)
Distributed Identity
Keybase (2013, $11M)
CONSUMER
Digital Content
Maidsafe (2013, $6M)
Prediction Markets
Augur Project (2014, $5M)
$15M $68M

Top Business Models by Funding
$222M
$181M
$68M
$16M
0
50
100
150
200
250
Financial services Technology Enablers Enterprise Solutions Consumer
TotalFundingAmount(inMillions)
# Cos. 115 141 112 44
Avg. Age 2014.3 2014.1 2014.1 2014.4
Digital Asset Holdings Blockstream Filament Maidsafe
Ripple Chain Keybase Augur

Financial Services – Business Model Description
Financial services applications of Blockchain Technology
Payments Trading Lending and Investing Risk management Banking
Blockchain based
trading/setllement/mark
et level solutions
Lending/Investing
platforms based on
blockchain
Blockchain security and
risk management
Blockchain based
banking solutions
Companies enabling
payments through
blockchain

Financial Services – Entrepreneur Activity and
Investment Trend
$7M
$30M
$110M
5
24
26
0
6
12
18
24
30
0
24
48
72
96
120
2008 2009 2010 2011 2012 2013 2014 2015
NumberofRounds
YoY – Total Funding and No of Rounds
$120M
$73M
$24M
$4M $1M
0
28
56
84
112
140
Trading Payments Risk
management
Lending and
Investing
Banking Insurance
BM wise Investment
1 1 2
21
37
41
0
9
18
27
36
45
2008 2009 2010 2011 2012 2013 2014 2015
NumberofCompaniesFounded
YoY – No. of Companies Founded
53
15
6 6
3 3 3 3
0
12
24
36
48
60
United
States
United
Kingdom
Canada China Denmark Germany Netherlands Russia
NumberofCompanies
Distribution of Companies across Countries

Financial Services – Most Funded Companies
Company Overview Business Model
Funding
Amount
digitalasset.com
(2014, New York City)
Market level solutions based on Blockchain
Accenture, IBM, Goldman Sachs, Broadridge Financial Solutions, Citigroup, J.P. Morgan, CME Group, BNP
Paribas, ABN AMRO Bank, Australian Securities Exchange, PNC Financial Services Group, Deutsche, DTCC,
ICAP plc, Santander InnoVentures
Financial services > Trading
> Capital markets
$60M
ripple.com
Ripple
(2012, San Francisco)
Open source payment protocol
Lightspeed Venture Partners, Andreessen Horowitz, AME Cloud Ventures, Seagate, CME Group, IDG
Capital Partners, Google Ventures, RRE Ventures, Venture 51, Vast Ventures, Core VC, ChinaRock Capital
Management, Route 66 Ventures, Blockchain Capital, Santander InnoVentures, Digital Currency Group
Financial services >
Payments > Money Transfer
$35.5M
itbit.com
itBit
(2012, Tower)
Provider of Trading & Settlement platforms
Canaan Partners, RRE Ventures, Liberty City Ventures, Raptor Group, Blockchain Capital, Digital Currency
Group
> Capital markets
$28.25M
peernova.com
PeerNova
(2013, San Jose)
Provider of cryptographic development platform
Overstock, Crypto Currency Partners, Mosaik Partners, Blockchain Capital
> Capital markets
$19.6M
uphold.com
Uphold
(2014, California)
Multiple currency reserve and exchange platform. Financial services >
$15.52M
aligncommerce.com
Align Commerce
Blockchain as a Settlement Rail for Payments.
KPCB, SVB Financial Group, Recruit Strategic Partners, Boost, Bay Hill Capital Advisors, Fenway Summer,
R3 Investment Group, Firestartr, Pantera Capital, Nyca Partners, Pivot Investment Partners, Digital
Currency Group
Financial services >
$12.5M
bitgo.com
BitGo
Multi-signature bitcoin wallet
Redpoint Ventures, Founders Fund, A-GRADE, Inventures Group, Bridgescale, Liberty City Ventures,
Blockchain Capital, Digital Currency Group, BitFury Capital
Financial services > Risk
management
$12M
cryex.com
Cryex
(2013, Stockholm)
Multi-Currency matching platform.
Northzone, White Star Capital, SparkLabs Global Ventures
> Capital markets
$10M

Technology Enablers – Business Model
Description
Companies enabling blockchain technology implementation
Application
development platform
Service providers Smart Contracts Blockchain Education Sidechain
Companies providing
smart contracts
technology
Companies that provide
blockchain development
as a service
Companies enabling
sidechain innovation
Companies running
training programs and
workshops for
blockchain education
Blockchain application
development platforms

Technology Enablers – Entrepreneur Activity and
Investment Trend
$48M
$51M
1
15
10
0
3
6
10
13
16
0
12
24
36
48
60
2008 2009 2010 2011 2012 2013 2014 2015
NumberofRounds
$77M
$72M
$23M
$7M
0
18
36
54
72
90
Sidechain Application
Development
Platform
Smart
Contracts
Service
Providers
Blockchain
Education
DAO
BM wise Investment
0 1
4
13
57 56
0
12
24
36
48
60
2008 2009 2010 2011 2012 2013 2014 2015
59
17
14
6 5 5 4 3
0
14
28
42
56
70
United
States
United
Kingdom
Canada Switzerland France Israel Germany Malaysia
NumberofCompanies

Technology Enablers – Most Funded Companies
Company Overview
Business
Model
Funding
Amount
blockstream.com
Blockstream
Blockchain development focused on sidechains innovation
Khosla Ventures, AME Cloud Ventures, Innovation Endeavors, Horizons Ventures, Ribbit Capital, Real Ventures, Digital
Garage, SK Ventures, Future Perfect Ventures, Maiden Lane, Mosaic Ventures, Blockchain Capital, AXA Strategic
Ventures, 7seasvc.com
Technology Enablers >
Sidechain
$76M
chain.com
Chain
Designing blockchain applications for organizations
Capital One, VISA, NASDAQ, SV Angel, Khosla Ventures, Thrive Capital, RRE Ventures, Betaworks, Homebrew, Fiserv,
Orange, Firestartr, Pantera Capital, Crypto Currency Partners, Bitcoin Opportunity Corp, ventures.citi.com, Blockchain
Capital, Digital Currency Group, BoxGroup
Application
$43.7M
mirror.co
Mirror
OTC trading & hedging platform provider
Battery Ventures, Crosslink Capital, Promus Ventures, Ludlow Ventures, RRE Ventures, Boost, Route 66 Ventures
Smart Contracts >
Financial Assets
$12.8M
gem.co
Gem
(2014, Venice)
Platform to develop blockchain applications
First Round Capital, MESA Ventures, Metamorphic, RRE Ventures, Tekton Ventures, Pelion Venture Partners, Siemer
Ventures, Baroda Ventures, Birchmere Ventures, KEC Ventures, Idealab, Amplify.LA, Birchmere Labs, Crypto Currency
Partners, Wavemaker Partners, Blockchain Capital, Digital Currency Group
Application
$10.4M
symbiont.io
Symbiont
Smart securities issuance and trading platform
Senahill Partners
Smart Contracts >
Financial Assets
$8.25M
techbureau.jp
Tech bureau Lab
(2015, Osaka)
Japanese cryptocurrency technology company and Bitcoin Exchange operator
Nippon Technology Venture Partners, Infoteria, OKWAVE, Arara, Money Partners Group, h-vc.co.jp
Application
$6.2M
ipn.io
Protocol Labs
Blockchain network service providers Technology Enablers >
Service providers
$3.73M
blockcypher.com
BlockCypher
(2013, Redwood City)
Cloud-optimized full blockchain nodes
New Enterprise Associates, 500 Startups, AME Cloud Ventures, Foundation Capital, Fenox Venture Capital, Granite
Ventures, Boost, Upside Partnership, Voylet Capital, Streamlined Ventures, Blockchain Capital, QueensBridge Venture
Partners
Application
$3.5M

Enterprise Solutions – Business Model Description
Enterprise applications of Blockchain
Ownership
Authentication
Distributed Identity Record Keeping Supply Chain Governance
Solutions
Identity storage over
blockchain
Enterprise supply chain
solutions over
blockchain
Record keeping over
blockchain
Blockchain based
governance solutions
Authentication and
verification over
blockchain

Enterprise Solutions – Entrepreneur Activity and
Investment Trend
$8M
$1M
$7M
$33M
1 1
3
14
30
0
7
14
21
28
35
0
7
14
21
28
35
2010 2011 2012 2013 2014 2015
NumberofRounds
$19M
$16M
$14M
$9M
$4M
$3M
0
4
8
12
16
20
Distributed
Identity
Ownership
Authentication
Internet Of
Things
Security Record
Keeping
Invoicing
BM wise Investment
1 1
6
8
44
39
0
10
20
30
40
50
2008 2009 2010 2011 2012 2013 2014 2015
57
12
5 5 3 3 3 2
0
12
24
36
48
60
United
States
United
Kingdom
Canada Israel Italy Singapore Spain Australia
NumberofCompanies

Enterprise Solutions – Most Funded Companies
Funding
Amount
filament.com
Filament
(2012, Reno)
Decentralized Internet of Things stack
Techstars, Crosslink Capital, Bullpen Capital, Resonant Venture Partners, Samsung Ventures,
Bullpen Capital, Verizon Ventures, Digital Currency Group, Working Lab Capital, Zenstone
Venture Capital, VTF Capital
Enterprise Solutions >
Internet Of Things
$11.08M
keybase.io
Keybase
Identity mapping service with public keys
Andreessen Horowitz, Corazon Capital
$10.8M
guardtime.com
Guardtime
(2007, Irvine)
Big data & blockchain based threat detection & mitigation
Microsoft Ventures, Skype, Horizons Ventures, Infocomm Investments, Ambient Sound
Investments, FIT One, thevine.irvinecompany.com/orange-county
Security > Monitoring
services
$8.73M
chronicled.com
Chronicled
Product authentication on blockchain
Mandra Capital, Social Starts, Pantera Capital, Colbeck
Ownership Authentication >
Products
$5.33M
stem.is
Stem Disintermedia
(2015, Los Angeles)
Digital rights management
Upfront Ventures, Ludlow Ventures, Three Six Zero, Third Wave Digital, Vayner RSE,
Blockchain Capital
Ownership Authentication >
Digital Rights Management
$4.5M
factom.org
Factom
(2014, Austin)
System for securing real-time records in the Blockchain with a single hash.
Plug and Play Ventures, kualainnovations.com
Record Keeping
$3.16M
civic.com
Civic Technologies
(2016, Palo Alto)
Personal Identity Protection services on blockchain
BBVA Ventures, Future Perfect Ventures, Pantera Capital, Blockchain Capital, Digital Currency
Group, Social Leverage, Sound Ventures
$2.75M
fluent.network
Fluent Network
(2014, St. Louis)
Software platform for cross-border B2B trade.
Thomson Reuters, 500 Startups, FF Venture Capital, Draper Associates, Crosscut Ventures,
Startupbootcamp, SixThirty, UMB Bank, St Louis Arch Angels, Digital Currency Group,
Fenbushi Capital
Invoicing
$2.53M

Consumer – Business Model Description
Companies targeting consumer focused use-cases of blockchain technology
Art & Music distribution Social networks Digital Content Decentralized voting Gaming platform
Blockchain powered
social interaction
networks/
communities
Digital content
marketplaces
Decentralized voting
on the blockchain
Blockchain based
online gaming
platforms
Art/music distribution
marketplaces

Consumer – Entrepreneur Activity and Investment
Trend
$7M
$8M
3
5
0
1
2
4
5
6
0
2
4
5
7
9
2013 2014 2015
NumberofRounds
$6M
$5M
$2M $1M
$1M
$1M
0
1
3
4
6
7
Digital Content Prediction
Markets
Messaging Social
Networks
P2P
Commerce
Art & Music
Distribution
BM wise Investment
5
21
14
0
5
10
15
20
25
2013 2014 2015
19
9
3 3
2 2
0
4
8
12
16
20
United States United
Kingdom
Canada Israel Australia Germany
NumberofCompanies

Consumer – Most Funded Companies
Funding
Amount
maidsafe.net
Maidsafe
(2013, Troon)
Decentralized platform for application developers. Consumer > Digital
Content
$6M
augur.net
Augur
Open-Source, decentralized prediction market platform. Consumer > Prediction
markets
$5.1M
status.im
Status
(2015, Berlin)
Messaging service on Ethereum blockchain
Consumer > Messaging $1.2M
worldtable.co
The World Table
(2013, Orem)
A comment system to improve online engagement, build writer credibility, and stop trolls. Consumer > Social
networks
$1M
ob1.io
OB1
(2015, Fairfax)
Blockchain based P2P marketplace
Andreessen Horowitz, Union Square Ventures
Consumer > P2P
commerce
$1M
peertracks.com
PeerTracks
(2014, Quebec City)
Bitcoin based music discovery platform. Consumer > Art & Music
distribution
$530k
getgems.org
GetGems
(2014, Tel Aviv)
Mobile messaging app with built-in, bitcoin-based incentivization token
Magma Venture Partners
Consumer > Messaging $400k
zapchain.com
ZapChain
Microtransaction-enabled social network
Boost
Consumer > Social
networks
$350k

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
7
37

Interesting Unfunded Companies
axoni.com
Axoni
Blockchain solutions for capital markets Financial services - Trading - Capital markets
algorythmix.in
Algorythmix Tech
(2015, Mumbai)
Application development projects based on Ethereum Technology Enablers - Service providers
slock.it
Slock.it
(2015, Mittweida)
Block chain based IoT smart contract solution Enterprise Solutions - Internet Of Things
geopay.co.za
GeoPay
(2014, Sandton)
Mobile wallet payment and money transfer service provider Financial services - Payments - Money Transfer
banquapp.com
BanQu
(2015, Austin)
Economic identity platform on blockchain
Enterprise Solutions - Distributed Identity -
Economic Identity
syscoin.org
Syscoin
(2014, Brasilia)
Blockchain services for merchants via marketplace Consumer – P2P Commerce
switchless.com
SWITCHLESS
(2013, Singapore)
Bitcoin software for banks, private wealth managers and brokerage firms Technology Enablers - Service providers
bitsim.co
Fuzo
(2014, Hong Kong)
Secure platform for developers to leverage and introduce bitcoin blockchain Financial services - Payments - Money Transfer
Curated list of companies by the sector analyst are defined as Interesting

Interesting Unfunded Companies
coinprism.com
Coinprism
(2013, Dublin)
Wallet for digital contracts using color coins Financial services - Payments - Money Transfer
ethereum.org
Ethereum
(2012, Toronto)
Cryptocurrency 2.0 Network
Technology Enablers - Application development
platform
tether.to
Tether
(2014, Santa Monica)
Digital tokens for fiat curreny using blockchain network Financial services - Payments - Money Transfer

Interesting Seed Companies
Total
Funding
ob1.io
OB1
(2015, Fairfax)
Blockchain based P2P marketplace
Union Square Ventures, Andreessen Horowitz
Consumer – P2P Commerce $1M
clearmatics.com
clearmatics
(2015, London)
Clearing and settlement technology for financial OTC markets
telluriancapital.com, Nyca, Route 66 Ventures
Financial services - Trading - Capital
markets - OTC Trading
hedgy.co
Hedgy
Marketplace for hedging contracts on the Bitcoin.
Sand Hill Angels
Technology Enablers - Smart
Contracts - Financial Assets
$1.97M
chainalysis.com
Chainalysis
(2014, Manhattan)
Blockchain based payment fraud prevention compliance solutions
Point Nine Capital, Digital Currency Group, Techstars, Converge VP, FundersClub
Financial services - Risk
management
$1.6M
chronicled.com
Chronicled
Product authentication on blockchain
Mandra Capital, SocialStarts, Pantera Capital, Colbeck
Enterprise Solutions - Ownership
Authentication - Products
$5.33M
getgems.org
GetGems
(2014, Tel Aviv)
Mobile messaging app with built-in, bitcoin-based incentivization token
Magma Venture Partners
Consumer - Messaging $1M
ribbit.me
Ribbit
(2014, San Diego)
Royalty network based on Bitcoin.
Hayaat Group, Privity LLC
Financial services - Payments -
Loyalty & Rewards
$1.5M
tradeblock.com
TradeBlock
Online cryptocurrency data and research
Fintech Collective, Andreessen Horowitz
Technology Enablers - Service
providers
$2.8M

Interesting Seed Companies
Total
Funding
skuchain.com
Skuchain
Blockchain based solution for Supplychain ecosystem
Digital Currency Group, fenbushicapital.com, Amino Capital
Enterprise Solutions - Supply Chain
pylonloans.com
Pylon
P2P anonymous lending platform.
Boost
Financial services - Lending and
Investing - P2P Lending

Interesting Series A Companies
Total
Funding
blockstream.com
Blockstream
Blockchain development focused on sidechains innovation
Digital Garage, Future Perfect Ventures, Horizons Ventures, Real Ventures,
Ribbit Capital, Khosla Ventures, 7seasvc.com, AXA Strat. Ventures, Mosaic
Ventures, Innovation Endeavors, Cryptocurrency Partners, AME Cloud Ventures
Technology Enablers - Sidechain $76M
chain.com
Chain
Designing blockchain applications for organizations
NASDAQ, Capital One, Bitcoin Opportunity Corp, Crypto Currency Partners,
Fiserv, Orange, ventures.citi.com, SV Angel, Khosla Ventures, BoxGroup, Thrive
Capital, VISA, RRE Ventures, Pantera Capital
Technology Enablers - Application
$43.7M
ripple.com
Ripple
Open source payment protocol
Digital Currency Group, Venture 51, Andreessen Horowitz, Vast Ventures, Core
VC, CME Group, Santander InnoVentures, IDG, Google Ventures, Lightspeed
Venture Partners, Seagate, Cryptocurrency Partners, Route 66 Ventures, AME
Cloud Ventures, ChinaRock Capital, RRE Ventures
Money Transfer
$35.5M
mirror.co
Mirror
(, New York City)
OTC trading hedging platform provider
Crosslink Capital, Battery, Boost, Route 66 Ventures, RRE Ventures
Technology Enablers - Smart
Contracts - Financial Assets
$12.8M

Interesting Series A Companies
Total
Funding
aligncommerce.com
Align Commerce
Blockchain as a Settlement Rail for Payments.
Digital Currency Group, Nyca, Kleiner Perkins, Recruit Strategic Partners, Silicon
Valley Bank, Fenway Summer, Bay Hill Capital Advisors, Boost, R3 Investment
Group, Pantera Capital
Money Transfer
$12.5M
elliptic.co
Elliptic
(2014, London)
Bitcoin's blockchain intelligence risk management company
Digital Currency Group, Seedcamp, Paladin Capital Group, Octopus Investments,
Octopus Ventures, krw-schindler.com, Santander InnoVentures
Financial services - Risk
management
$7M
sldx.com
SolidX Partners
Digital currency investment software and blockchain platform
Red Sea Ventures, Liberty City Ventures, Red Swan
Technology Enablers - Application
$3M

Interesting Late Stage Companies
Total
Funding
uphold.com
Uphold
(2014, California)
Multiple currency reserve and exchange platform.
Money Transfer
$15.52M

Top Funded Deadpooled Companies
Funding
Amount
tembusu.sg
Tembusu
(2014, Singapore)
Cryptocurrency launching platform
Technology Enablers $1.12M
swarm.co
Swarm
Shared equity with blockchain technology
Techstars
Financial services - Lending and
Investing - Crowdfunding
$1M
blocktive.com
Blocktive
(2014, Berlin)
Blockchain intelligence research company Technology Enablers - Blockchain
Education
decentralbank.com
DecentralBank
(2014, Miami)
Decentralized off-chain P2P banking system on top of Bitcoin.
Financial services - Banking
bithealth.io
BitHealth
(2014, Baltimore)
Provides healthcare identity and records with bitcoin. Enterprise Solutions - Record
Keeping - Personal Medical Records
codius.org
Codius
A system for running smart contracts. Technology Enablers - Smart
Contracts - Smart Programs

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
6
46

Useful Links
Slide Title Content Platform Link
List of All Companies in readable format Companies Link
Large Upcoming Sectors Entrepreneur Activity Link
Niche Upcoming Sectors Entrepreneur Activity Link
Top investments in last one year Investment Trend Link
Major Acquisitions in last one year Exit Outlook - Acquisitions Link
FinTech – Most Funded Companies Sub Sector Understand Link
Enterprise Solutions– Most Funded companies Sub Sector Understand Link
Technology Enablers – Most Funded Companies Sub Sector Understand Link
Marketplaces – Most Funded Companies Sub Sector Understand Link
Social Networks – Most Funded companies Sub Sector Understand Link
Top Funded Deadpooled Companies Companies Link

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
8
48

DETAILS OF 412 COMPANIES
(134 FUNDED COMPANIES)
COVERS THE FOLLOWING SECTORS
Financial Services Enterprise Solutions Technology Enablers Consumer
49
Blockchain Applications – Company List

Financial services (1/31)
Financial Services Enterprise Solutions
Technology
Enablers
Consumer
Company Details Funding Investors
ANX International [Hong Kong, 2013]: ANX is a Financial Technology company that enables
companies and institutions harness Blockchain. They enable merging traditional payment
networks with the new digital assets ecosystem.They offer full front-to-back stack of
services and managed solution to the global market, providing all the core operational
services such as customer service, payment processing, KYC compliance, AML monitoring,
wallet management etc.
Trading - White label Exchanges
AlphaPoint [New York City, 2013]: AlphaPoint provides white label solutions to enables
businesses to integrate with digital currencies by setting up their own bitcoin exchange.
Currently implements XBT, LTC, PPC, FTC, NMC and TRC. The exchange platform is ready to
trade with the fiat currencies of choice. Digital currency automation tied with bank
integration result in a turn-key and easy to manage system. Full ability to customize pairs
allows your institution to add new tradable products. Examples include fiat to fiat, crypto to
fiat and crypto to crypto. Exchange performance of up to a million transactions per second.
Their database is a next-generation design based on platforms currently used to process
HFT risk analysis.
$1.35M
Crypto Currency Partners, Ben
Franklin Technology Partners of
Southeastern Pennsylvania,
Blockchain Capital
BlinkTrade [New York City, 2013]: BlinkTrade provides clients with a white-label solution
for building Bitcoin exchanges, thereby offering them a cost-effective way to start their own
bitcoin exchanges and removing the need to hire a developer. Provides an open source
platform that uses multi-signature technology to protect the customers and brokers. The
platform is built on a WebSocket API, allowing any front-end developer to build applications
with which users can convert bitcoin to fiat.
$40.57k
Noble Markets [New York City, 2014]: Noble markets intends to deliver a marketplace for
institutional financial, commercial and exchange clients and partners by leveraging
blockchain. They leverage trading technology from Nasdaq OMX for their institutional-
focused marketplace. They are looking to work with Bitcoin exchanges to provide further
liquidity. Currently the exchanges show that there is money, but volume is lacking which
affects liquidity of bitcoin as an asset. Hence by connecting with exchanges, Noble Markets
will be able to help the institutional investors get in and out of bitcoin with more certainty.
Tally Capital, Blockchain Capital

Technology
Enablers
Consumer
Trading - Capital markets - OTC Trading
clearmatics [London, 2015]: Clearmatics is developing a clearing and settlement technology
for financial OTC markets. Its blockchain technology brings together custodians and end-
users on a single platform, where members can settle securities and automate the
performance of financial contracts on a trusted and decentralized virtual machine. As of
June 2015, the company is in stealth mode. The company recently demo-ed their OTC
trading product with OpenGamma in Quantech 2016 in April
Route 66 Ventures, Nyca Partners,
Tellurian Capital
Trading - Capital markets
Digital Asset Holdings [New York City, 2014]: Digital Asset builds distributed, encrypted STP
tools for capital markets and financial institutions. It develops technology that helps
efficiency, transparency, compliance and settlement speed using cryptographic, distributed
ledgers. Their offerings are 1) Open source distributed ledge infrastructure to create ledgers
2) Digital asset platform that interacts with ledgers and enable applications embedded with
business logics in the form of low-level services 3) Business applications that are asset-
specific plugins. In Jan, 2016 the company was selected by ASX to develop solutions for the
Australian market utilizing Distributed Ledger Technology.
$60M
Accenture, IBM, Goldman Sachs,
Broadridge Financial Solutions,
Citigroup, J.P. Morgan, CME Group,
BNP Paribas, ABN AMRO Bank,
Australian Securities Exchange, PNC
Financial Services Group, Deutsche,
DTCC, ICAP plc, Santander
InnoVentures
itBit [Tower, 2012]: itBit offers a suite of products leveraging traditional capital markets
infrastructure and blockchain technology. The product offerings include: 1.Trading Services:
Allows buying and selling of Bitcoins on global exchange and OTC counter.; 2.Bankchain:
Clearing and settlement system that leverages private permissioned distributed ledger
technology to execute post-trade.It facilitates trades between Bitcoin and U.S. Dollars,
Singapore Dollars, and Euros. The company also offers 3 APIs - FIX, REST and Market Data
for high frequency & Institutional traders.
$28.25M
Canaan Partners, RRE Ventures,
Liberty City Ventures, Raptor Group,
Blockchain Capital, Digital Currency
Group

Technology
Enablers
Consumer
PeerNova [San Jose, 2013]: Peernova provides solutions for securities exchange and
financial services. PeerNova has developed a technology platform that provides
immutability and data integrity for use in securities exchanges applications. Based on
blockchain, their patent-pending technology enables use of immutable ledgers and
databases in real-time for multi-asset and multi-party transactions. Traditional applications
of blockchains involve de-centralized ledgers, distributed consensus protocols, and
anonymous users. Received a pre-Series A investment from semiconductor industry veteran
and ex-Sequoia Capital VC, Pierre Lamond, and FireEye’s founder Ashar Aziz in July 2014.
With subsequent rounds of funding the firm has sought to move away from self mining and
move more into a fullfledged blockchain application service provider
$19.6M
Overstock, Crypto Currency Partners,
Mosaik Partners, Blockchain Capital
Cryex [Stockholm, 2013]: Cryex claims to provide an order driven, multi-currency matching
platform with central counterparty clearing (CCP) for first Spot and later Derivatives. They
plan to leverage blockchain based transaction settlement to offer the European market a
clearing and trading model, providing transparency on price and cost, whilst increasing
speed and lowering risk in clearing and settlement of FX products.
$10M
Northzone, White Star Capital,
SparkLabs Global Ventures
ShellPay [Shanghai, 2015]: ShellPay is a block chain application for financial transactions. It
offers users with different products, such as, a bitcoin wallet, a bitcoin currency - ShellCoin,
bitcoin based technology solutions for stock exchange etc. It has raised Angel round of
funding from Weijia Capital.
$770K
Equibit Development Corporation [Canada, ]: Equibit is a blockchain-based securities
register allowing for efficient management of OTC equity, warrants, partnership units and
more. The system includes a shareholder communications system, as well as the ability to
easily issue BTC-denominated dividends and distributions to holders of equity.
$150k

Technology
Enablers
Consumer
Epiphyte [London, 2013]: Epiphyte bridges the gap between established finance and
cryptofinance by offering enterprise software solutions to allow banks and other financial
institutions to securely integrate with cryptofinancial networks such as Bitcoin.
$70.35k
Plug and Play Ventures,
Startupbootcamp
LedgerX [New York City, 2014]: LedgerX is an institutional trading and clearing platform
that is awaiting full regulatory approval from the U.S. Commodity Futures Trading
Commission (CFTC) to trade and clear options on bitcoin. If approved, LedgerX would be the
first federally regulated bitcoin options exchange and clearing house to list and clear fully-
collateralized, physically-settled bitcoin options for the institutional market. On September
10th, 2015, the CFTC issued LedgerX an Order of Temporary Registration as a SEF. Has
raised angel investment from Ben Davenport (Co-Founder of BitGo), Kamal Ravikant
(Partner at Evolve VC), Brock Pierce, Ryan J. Orr( Professor Stanford University), Owen
Gunden(Founder SolidX) and Jameel Khalfan. Currently in stealth mode. The firm is
currently awaiting regulatory approval
Lightspeed Venture Partners, Google
Ventures, FundersClub, Fenway
Summer, Crypto Currency Partners,
Blockchain Capital
Domus Tower [San Francisco, 2014]: Domus Tower is building a decentralized exchange for
broker/dealers and banks to trade securities. The company release its whitepaper in March
2016 elaborating blockchain based settlement of US equities. The Domus Network uses
existing straight through processing (STP) infrastructure with a blockchain based proprietary
pre-clearing process to deliver real time gross settlement across correspondence accounts
between the network of partner custodians and prime brokers. They are also in discussions
with major custody banks and clearing brokers to recruit them into a Launch Partner
program.
Plug and Play Ventures

Technology
Enablers
Consumer
Quantave Global [London, 2013]: Quantave is developing set of services enabling
institutional traders with direct access to Bitcoin exchanges and quantitative analysis. They
provide volumes of refined data through single API featuring FIX and FAST support. For
online traders they will be providing these APIs through open sourced, HTML5 powered
trading platform. Their Direct Market Access connectivity solution aggregates liquidity
across multiple digital asset trading exchanges from a single point of entry. They also
maintain historical and real-time tick data from these exchanges, enabling back-testing and
deployment of automated trading strategies.
Crowdaura [London, 2015]: Crowdaura designs and develops Private Placement technology
for issuance, administration and trading of financial/physical asset securities and contracts.
The core product consists of crowdfunding style user-facing services with an administration
engine and distributed Blockchain operations for T+0 clearing and settlement. With
Crowdaura, private placement originators/issuers can create a security in minutes (with all
legal docs generated automatically) and then leverage the marketing and distribution
benefits of an open or closed crowd sale to drive subscription. All investors on the platform
undergo KYC through built in services. The issued securities are then cleared and settled,
with allocations being recorded on the blockchain., which acts like a Distributed Securities
Depository. In this way the holder of the security can prove ownership independently of the
issuing platform.
Marc Garriga [Singapore, 2014]: DXMarkets offers a professional trading platform for digital
currencies. Customers can buy and sell crypt-currencies online. The platform currently
supports Bitcoins, Litecoins, Dogecoins, Darkcoins, and Jetcoin (a newly created sports-
themed coin).

Technology
Enablers
Consumer
R3 [New York City, 2013]: R3 CEV works for the blockchain technology adoption,
implementation and promotion. It does this in three ways: 1) For Exchanges, they provide
execution solutions to improve the trading experience for existing and evolving asset
classes. 2) Venture program that provides targeted early stage investments in global
companies that promote the blockchain cause and3) Crypto 2.0, a project in which they
have collaborated with Barclays, BBVA, Commonwealth Bank of Australia, Credit Suisse, J.P.
Morgan, State Street, Royal Bank of Scotland and UBS to design and deliver advanced
distributed/shared ledger technologies to global financial markets
Crypto Facilities [London, 2015]: Crypto Facilities is financial services firm and provides risk
management and trading solutions around digital assets such as bitcoin. It is a bitcoin
trading venue to insure all client accounts and settle them daily on the blockchain.
Instruments include Bitcoin forwards.All the trades are settled over blockchain on a daily
basis.
Raistone [Los Angeles, 2015]: Raistone is a decentralized escrow system (MDES) for trading
digital assets that eliminates the need of holding the asset and thereby eliminates the risk of
theft from the digital transaction ecosystem.It is an open system enabling institutions to
comply with KYC/AML/BSM without holding the asset in a custodial account. For banks and
other financial institutions, it eliminates the need for currency reserves under Basel II, since
the asset is not on their books. It also eliminates the need for risk mitigation measures like
insurance and cold storage and their associated costs. The system is asset-agnostic and
supports digital currencies, securities, smart contracts, policies, deeds and other assets.
Raistone's solution caters to banks, exchanges, cross border payment and remittance
companies and insurance companies.

Technology
Enablers
Consumer
Medici [ , 2015]: T0.com is a bitcoin blockchain based trading platform. They have recently
beta-tested the ability to record the evidence of compliance with SEC Regulation SHO,
before a trader attempts to short sell. They issue certain Pre-borrow Assured Token to
qualified institutional buyers and sellers on their platform which will provide them a valid
locate satisfying the SEC’s Regulation SHO requirements. These tokens will be auctioned
nightly in a Dutch auction using t0 software and the transaction will be recorded on the
blockchain. This will enable T0.com to make use of blockchain technology in trading to
ensure transparency by recording all the information on blockchain.
cyber [Kaliningrad, 2013]: CyberFund plans to implement a decentralized block-chain based
investments platform which will act as a address ledger and in the process, eliminate the
need for a central party. They work with other block-chain enabling firms such as
Information providers (chain.com), portfolio trackers (Cryptonator.com) and investment
operators. They plan to use Ethereum based tokens.
HitFin [San Francisco, 2015]: HitFin provides clearing and settlement services for over-the-
counter (OTC) derivatives and related services. The platform is based on Ethereum, a smart
contracts technology inspired by Bitcoin. Allows end users to enter into and settle complex
financial contracts without the need for an intermediary. Transactions are executed by a
distributed network of nodes and cryptographically secured through the blockchain. Once a
trade is entered into, collateral is locked in the blockchain and the trade will execute
automatically.
OpenLedger [Hune, 2015]: OpenLedger provides a decentralized exchange with 100K
transactions per second, the speed of NASDAQ along with secure vault style wallet with
multisig accounts. Using a combination of crypto technologies, OpenLedger enables high-
volume trading. Built on the BitShares platform and powered by Graphene, OpenLedger
seeks to solve the problems of speed, stability, security and transparency existent in the
ecosystem. Using the platform, users can trade different pegged digital assets from markets
around the world. Funds can be held as BITUSD for stability; once finished trading, user can
withdraw them to the fiat equivalent as a normal money transfer, to a Ripple gateway,
through PayPal, or to the NanoCard - a debit card that converts crypto to fiat as per
spending.

Technology
Enablers
Consumer
Blockchain Clearing Corporation [San Francisco, 2015]: Blockchain Clearing Co. has
developed an open source reference implementation of a draft standard for clearing and
settling equities in real time using a public blockchain. They use state-of-the-art messaging
technology to route messages enabling message delivery in under 100 milliseconds even
when communicating hundreds of thousands of messages per second, additionally all
messages are encrypted end-to-end. They claim to be in discussions with 5 major financial
institutions with the goal of forming a settlement consortium.
String [Mountain View, 2014]: String is building an autonomous financial cloud for assets.
Any type of financial assets - equities, bonds, commodities, derivatives, can be traded and
settled at near real-time and free of commission. All value exchanges are peer-to-peer.
These assets become fully programmable for higher level applications.
Bit Trade Labs [Sydney, 2015]: Bit Trade Labs provides solutions using blockchain and
distributed consensus systems including but not limited to Bitcoin and Ethereum. Bit Trade
Labs offers the following services: Blockchain ideation and incubation, Blockchain &
Distributed Consensus Systems Consulting & Education, Problem Solving & Use Case
Modelling, Prototyping & Sandbox Experimentation, Distributed Consensus Systems
Production, Development & Integration, Crypto-token/Digital-currency & Smart Contract
Implementation, Communication & Training. Sydney Stock Exchange has announced in May
2016 that it will be implementing blockchain based trade settlement and clearance system
in association with Bit Trade Labs
Axoni [New York City, 2016]: Axoni is a blockchain startup founded by Tradeblock founders,
they just completed proof of technology submission for ICAP, a leading markets operator,
on 26 February 2016. They provide markets with a multi asset messaging and matching
Harmony network, and blockchain infrastructure to create a private, peer-to-peer,
distributed ledger network using smart contracts. Their implementation process provides
life cycle automation, transactional privacy, sufficient processing of trades to support high-
volume markets, automated reporting, and a dynamic permissioning system to onboard
new network participants.

Technology
Enablers
Consumer
Genisys Project [Vancouver, 2016]: Genisys is a platform enabling real-time settlement and
automation to the Financial Services industry. It is designed for Banks and Financial Service
Providers to set up their own wire and payment transfer systems. The platform works with
existing back-end systems for compliance and accounting to track transfer payments. Their
areas of focus include blockchain based instant trade settlement and smart contract
compliance. As of April 2016, the company did not announce any partnerships or future
product launch schedule details.
RISE Financial Technologies [Frankfurt, 2015]: RISE addresses the needs of the post-trade
industry by providing a B2B open source ledger software and network to be hosted by RISE
clients. They also provide 1) Ledger API that allows integration with legacy platforms via
traditional programming languages 2) Cryptographic Rights to perform business functions
on the ledger. They have developed an underlying multi-asset class, multi-currency
distributed financial ledger technology built for the post-trade securities industry. Regulated
financial institutions can join and run their permissioned settlement and safekeeping
network. Their website is credential protected as of June 2016.
Trade Finance
Factury [New York City, 2015]: Factury provides an invoice payment and settlement system
based on blockchain with smart contracts driven solution focusing on solving delayed
payment issues. They automate payment processes with an API for authorized third parties
i.e. banks, factoring and insurance companies and debt collection agencies. The immutable
recordkeeping and smart contract functionality allows to automate invoice payments
between the parties while the platform connects all parties involved in trade finance
procedures - suppliers, buyers, funders and debt collectors. They are a part of the
Startupbootcamp FinTech NYC cohort 2016.
Startupbootcamp

Technology
Enablers
Consumer
Trade Finance
Eximchain [Boston, 2016]: Eximchain is a blockchain-enabled platform that provides small
to medium-sized import/export businesses with access to trade finance, including payment
tools and pre-export financing. Prime features and services include 1) Security - Smart
Contracts to automate trade funding and the release of funds, importers and exporters set
terms for the release of funds together and when those terms are fulfilled, the money will
automatically flow. 2) Document Flow - Importers and exporters can collaborate on creating
trade documents 3) Trade Financing - Eximchain 2.0 will scrape the data from our trade
settlement services to build credit worthiness data for SMEs to help originate loans for trade
financing.
Risk management - Payments
Identitii [Hong Kong, 2014]: Identitii (formerly Sparro) provides "tracking tokens" which use
blockchain to solve KYC / AML / CTF problems, reduce cost of processing transactions and
improve reporting. Their tokenisation of payments allows customers to know where the
payment is in real time. Storage of transactions on the identitii blockchain enables
enterprises to view linkages between suspicious payments, enhancing compliance and
improving customer insights. The startup is a graduate from the 2015 Accenture Fintech
Innovation Lab in Hong Kong. They plan to venture into payments security for financial
institutions providing tokens to enrich payments, enabling financial institutions with the
information to meet compliance requirements. Identitii has launched two proof of concepts
on the use of tokens & blockchain with Top 10 Global banks and is working towards a Q1
2017 Series A raise.
Aid Tech [Dublin, 2016]: AID:Tech addresses the corporate needs in places where
traditional payment providers and banks do not exist. They develop payments and
distribution solutions and applications for the crisis-solution market. They recently delivered
$10,000 in private donations to Syrian refugees in Lebanon using their proprietary
intelligent voucher solution where every single cent was accounted for and all transactions
were viewable to the donor's in real-time. Their solution caters to the issue of fraud in e-
voucher programs.

Technology
Enablers
Consumer
Paylock [Sydney, 2016]: Paylock is a blockchain based credit card security solutions
provider. Established in May 2016, the company is yet to release a product. The target
market includes card issuers and financial institutions.
Risk management - Insurance Fraud
Everledger [London, 2015]: Everledger provides an immutable ledger for diamond
identification and transaction verification for various stakeholders. Deploying the principles
of block chain utilised by Bitcoin to create a ledger for diamond using which the ownership
of diamond can be tracked. Insurance fraud for diamond has been significantly high. With
Everledger in place, these could be mitigated. Also planning to venture into other luxury
goods which can be tracked and their codes could not be tampered without significantly
hampering the value of the product. Were a part of Barclays Techstars accelerator.
$118k Barclays Accelerator
Risk management
BitGo [San Francisco, 2013]: BitGo offers the industry’s first multi-signature wallet to keep
bitcoin secure from theft and loss and provides a suite of services for bitcoin portfolio
management, corporate treasury, and enterprise enablement. Its patent-pending multi-
signature technology issues 3 keys for your wallet, 2 of which are required to send bitcoin.
The other set of key is saved in the offline server. BitGo's multi-signature solution provides
an alternative that doesn't require you to trust a third party, yet eliminates the risk of
maintaining your own private keys. BitGo offers services for both consumers and business
customers.For consumers, BitGo Secure Wallet for keeping bitcoin holdings safe and
accessible.For businesses, services including corporate treasury and customer engagement.
Ex-Verisign CEO joined the team in June 2014. Barry Silbert of Bitcoin Opportunity
Corporation participated in the Series A round.
$12M
Redpoint Ventures, Founders Fund, A-
GRADE, Inventures Group,
Bridgescale, Liberty City Ventures,
Blockchain Capital, Digital Currency
Group, BitFury Capital

Technology
Enablers
Consumer
Risk management
Elliptic [London, 2014]: Elliptic identifies illicit activity on the Bitcoin blockchain and caters
to the Bitcoin companies and law enforcement agencies. For financial institutions and
Bitcoin companies, they provide enterprise-scale Bitcoin transaction monitoring. For law
enforcement agencies, they provide actionable evidence in cases involving international
arms trafficking, money laundering, theft, and drug offences. Their services are aimed at
those with a relatively large collection of bitcoins, with the minimum level of cover set at
£5,000. One of their business partners include JPMorgan trader Dan Masters’ Jersey-based
and first-ever regulated bitcoin investment fund, the Global Advisors Bitcoin Investment
Fund.
$7M
Seedcamp, Octopus Ventures, Paladin
Capital Group, Octopus Investments,
Santander InnoVentures, Digital
Currency Group, krw-schindler.com
Risk management
Chainalysis [Manhattan, 2014]: Chainalysis provides payment fraud prevention &
compliance by monitoring digital identities and identifying malicious actors. Products
include an API Transaction based risk scoring software and REACTOR, an enhanced Due
Diligence and investigation tool. Barclays’ financial crime and transaction monitoring teams
will be using Chainalysis’ tools for in-depth real-time blockchain transaction analysis to
obtain information from the blockchain about their customer’s financial transactions.
Software detects suspicious activity in real time and provides investigation tools.
$1.6M
Techstars, Point Nine Capital,
FundersClub, Common Angels,
Barclays Accelerator, Digital Currency
Group, Converge Venture Partners
Risk management
Skry [Mountain View, 2013]: Coinalytics makes sense of big-data through a real-time
analytics tool for Bitcoin. Coinalytics key task is to aggregate heterogeneous data from
different sources like news, social media, forums or market data and combine it to support
the decision-making process. They enable enterprises to derive real-time business
intelligence and risk assessment from blockchains and decentralized applications.Part of
500.co batch 9. The firm renamed to Skry on April 12th 2016.
$1.3M 500 Startups, The Hive
Risk management
Sabr [New York City, 2015]: Sabr is a software to monitor, investigate and locate users of
bitcoin and other blockchain-based digital currencies. Sabr integrates data from multiple
Blockchains, as well as other public and proprietary sources. Sabr's unique position and
partnerships within the network underlying the decentralized digital currency ecosystem
provides access and insight otherwise inaccessible.
$1.2M
500 Startups, Silicon Badia, Digital
Currency Group, Newfund

Technology
Enablers
Consumer
Risk management
scorechain [Luxembourg, 2015]: Scorechain provides compliance, regulation and
management issues in the Bitcoin ecosystem by running thorough analysis and of the
Blockchain. It provides the following services: Risk scoring/rating of bitcoins addresses and
transactions tracking, Blockchain data analytics and monitoring, CRM Dashboard, event
monitoring, Personal Bitcoin statements including charts, bookkeeping & historical
valuation, notifications, API: platforms for programmers to build their services on top of
these services .
$570k
Risk management
Third Key Solutions [San Francisco, 2015]: Third Key Solutions offers consulting and
cryptographic key management solutions for companies using decentralized digital
currencies. This includes customized multisignature key generation, backup, and cold
storage services for exchanges, wallets, start-ups, crowdfunding, and charity organizations
using bitcoin or other digital currencies. They also cater to exchanges, startups, hardware
wallets with Back-up Services / Off-site Cold Storage among other customized services.
Risk management
Blockchain Technology Group [Vancouver, 2015]: Blockchain Technology Group operates in
the analytics and Big data space for the blockchain industry. They have 3 key products, 1)
BlockSearch, which provides real-time search and data analytics through an API for
companies needing to securely verify critical business information. 2)BitRank, a proprietary
wallet scoring system that provides real-time risk assessment and 3) Bitalytics API that
manages the Big Data burden across multiple datasources, enabling informed decisions.
They also operate a network of globally distributed search nodes that ensures real-time
visibility into the Blockchain.
Risk management
Blockchain Inspector [Angouleme, 2015]: Blockchain Inspector is an early stage startup that
uses artificial intelligence to fight fraud in the blockchain, the company has entered into a
partnership agreement with a UK bitcoin marketplace trading more than 4000 bitcoins
monthly. Their software prevents identity theft, financial fraud, money laundering and
terrorist financing on the blockchain, their AI-based rules engine and monitoring tools allow
clients to translate human reasoning into rules that will be executed on the blockchain. They
also enable clients to implement their KYC and AML obligations and respond to their
customers’ behaviour.

Technology
Enablers
Consumer
Risk management
Sig3 [ , 2015]: Sig3 is a policy based automated co-signer that integrates with multi-sig
bitcoin wallets for an extra layer of security. It improves the transaction security and
simplicity of multi-signature technology. Powered by a user-controlled policy engine, it
allows users to set transaction policies that must be met before cosigning the transaction,
and Sig3 can be integrated with any bitcoin wallet supporting multi-sig technology. They
have fully integrated with the Copay wallet and are continuing development with a number
of additional multi-sig wallets, as well as creating a web API to allow for future integration
with all types of blockchain applications.
Risk management
Dactuary [Ottawa, 2015]: The idea behind dactuary is to create a transparent risk transfer
service. They intend to leverage the maturing crypto-market with respect to demand for
financial products. They intend to work in the insurance financial product domain. They are
currently working on the whitepaper to perfect the concept.
Risk management
BlockCache [Copenhagen, 2015]: BlockCache is a blockchain-based content delivery
network. They store user's digital assets that are universally accessible from any device and
when a remote file is called, the information about the referrer is not revealed. The code on
the blockchain-hosted CDNs cannot be modified to collect data about client's users or
systems. They also enable delivery automation reducing enterprises' time to market. They
additionally provide JavaScripts to develop dynamic interfaces. Pricing include monthly
subscription at free, $29.99 and $99.99 for startup, accelerators and business modules.
Payments - Money Transfer
Ripple [San Francisco, 2012]: Ripple Labs(earlier known as Open Coin) develops open
source payment protocol for XRP/Ripple a crypto currency. It was designed to eliminate
Bitcoin's reliance on centralized exchanges, use less electricity than bitcoin, and perform
transactions much more quickly than bitcoin. As a decentralised and open source global
payment network, Ripple enables free and instant payments to merchants, consumers and
developers with no chargebacks and in any currency including bitcoins. Acquired
SimpleHoney in Apr 2013. On September 26, 2013, OpenCoin Inc. changed its name to
Ripple Labs Inc. In May 2014 Kraken's CEO Jesse Powell resigned from the board of Ripple
Inc.
$35.5M
Lightspeed Venture Partners,
Andreessen Horowitz, AME Cloud
Ventures, Seagate, CME Group, IDG
Capital Partners, Google Ventures,
RRE Ventures, Venture 51, Vast
Ventures, Core VC, ChinaRock Capital
Management, Route 66 Ventures,
Blockchain Capital, Santander
InnoVentures, Digital Currency Group

Technology
Enablers
Consumer
Uphold [California, 2014]: Uphold is a low-cost Bitcoin and fiat currency payments platform,
aimed at consumers and enterprise, where holdings in bitcoin can easily be exchanged and
held in one of several fiat currencies. The service will allow fiat-to-fiat transfers at zero cost
between individual members, and a forthcoming API is expected to be integrated with
payment processors. The money can be loaded in the Uphold account and can be
transferred to domestically or cross borders. It allows to convert among 24 currencies and 4
precious metals.
$15.52M
Align Commerce [San Francisco, 2014]: Align Commerce is a Payment Service Provider
(PSP) for global commerce. It enables businesses and payment platforms to send and
receive payments in local currency via a simple, friction-less and inexpensive manner by
using the block chain as a new settlement rail. For example, a payment sender can have US
dollars at point A and a euro receiver at point B. To facilitate this type of transaction, Align
Commerce uses bitcoin in the middle of the transaction as the container. Align Commerce
charges 1.9% of the transaction fees only.
$12.5M
KPCB, SVB Financial Group, Recruit
Strategic Partners, Boost, Bay Hill
Capital Advisors, Fenway Summer, R3
Investment Group, Firestartr, Pantera
Capital, Nyca Partners, Pivot
Investment Partners, Digital Currency
Group
DigitalX [Boston, 2013]: DigitalX is a software solutions company enabling global digital
payments industry. Their remittance product AirPocket, is a money transfer application
providing a low cost and instant cash transfer solution by connecting people. Their other
product DigitalX Direct, is a private platform specifically designed to provide real time
Bitcoin liquidity to institutional investors and large commercial operators. DigitalX was listed
on the Australian Securities Exchange (ASX) in June 2014 and is publicly traded as Digital CC
Limited (ASX:DCC).
$2.77M
Ledger [Paris, 2014]: Ledger brings bank grade security to digital blockchain based identities
such as Bitcoin private keys, through the development of smart card enabled hardware
wallets. The Ledger Wallet will maintain a private Hierarchical Deterministic hierarchy, used
for controlled private key transfers, enabling innovative use cases such as true decentralised
tipping or payment optimisations. The hardware wallet is currently available for purchase
on the website for 30 Euros. Plans to release an API to leverage the Ledger Wallet and
facilitate third party integration. Has offices in Paris and San Francisco.
$1.48M XAnge, HiPay

Technology
Enablers
Consumer
Neema [Tel Aviv, 2013]: Neema provides a mobile wallet app that allows user to send
money cross borders directly to bank account or cash pick-up locations. Neema charges a
flat 1% fees for all its transactions.
$250k Kima Ventures
Fuzo [Hong Kong, 2014]: Fuzo Group of Companies (previously bitsim) has been seed
funded by Seedco.in as a converged bitcoin investment to deliver on Global Mobile
Remittance opportunity enabled by mobile & Bitcoin. bitSIM has a Platform which is a "chip
to cloud" triple play, its a secure platform for developers, consumers and nextgen payment
providers to leverage and introduce bitcoin & blockchain services on top of existing mobile
infrastructure. bitSIM* apps can include: mBanking, mCommerce, mRemittance as well as
gaming and other infotainment apps.
Seedcoin
Tramonex [London, 2013]: Tramonex provides online international payment services to
small and medium enterprises. They eliminate intermediaries and gives users a direct access
to the global currency markets. They provide clients with a proprietary platform to manage
their cross border payments. They are authorised by the Financial Conduct Authority (FCA)
as a Payment Institution. Tramonex also plans tobuild a prototype to facilitate conversion
and settlement services using blockchain ledger technology, reducing average transaction
times from days to under a minute.
UK Government
Robocoin [Las Vegas, 2013]: While it initially started as manufacturer of ATMs and sold
them them to operators Robocoin has improvised into becoming a fullfledged secure money
transfer service using the blockchain technology. It offers white label gateway solutions,
wallet services and remittance to its customers and merchants.

Technology
Enablers
Consumer
Coinprism [Dublin, 2013]: Coinprism is a Colored Coins web wallet. Coinprism is similar to
other web wallets, except that users can store, issue, send and receive Colored Coins and
not only normal Bitcoins. Coinprism is implementing the Open Assets protocol and it is
compatible with the open source Colored Coins wallet Colorcore. Launched a beta Colored
Coin API in Aug 2014. Offers a color coin blockchain explorer on coinprism.info
Tether [Santa Monica, 2014]: Tether (earlier known as Realcoin) uses the Blockchain as the
foundation to transfer fiat currency as digital tokens safely and instantly (domestic as well as
internationally). Tether + tokens issued by Tether can be bought with regular currencies
from banks as USTether, EuroTether or YenTether for a small fee. Tether uses the
blockchain to move value from one end to the other via the Mastercoin protocol. Has
Bitfinex, Expresscoin, GoCoin and ZenBox as its partners.
Remitsy Inc. [Beijing, 2015]: Remitsy provides cross border payments for business owners
to pay their suppliers. The company charges a mid-market conversion rate and a small fee
for the transfer which starts at about 1%. The company uses blockchain technology to
transfer and process the amount. The users need to fill a form and transfer the money to
local account of Remitsy, which is then converted and sent via blockchain technology to the
recepient.
Billon [Warsaw, 2013]: Billon is a mobile wallet service that allows users to pay at the
merchant site by NFC, bluetooth, in-app payments. Allows to transfer P2P money transfers
by tapping the mobile to receivers mobile. The wallet can be used to pay at the online e-
commerce websites, wherein the merchants can integrate the API to avail Billion as
payment option (hosted payment gateway). Billon's distributed ledger technology is
integrated within a bank, eliminating 90% of the underlying service cost. Billon's technology
has been accepted by 2 regulators in the EU, and Billon is the winner of Citibank's Mobile
Challenge as "most innovative blockchain company".

Technology
Enablers
Consumer
GeoPay [Sandton, 2014]: GeoPay provides a mobile wallet that can be used to send money
anywhere in the world, pay at the merchants site by scanning the card. The user can deposit
and withdraw money at the dedicated Geopay agent location. Geopay leverages blockchain
for the money transfer. User can transfer money from their bank accounts or cards, along
with cash deposit at teller locations.
Dash [Mexico, 2015]: Dash (DASH) is a privacy-centric digital currency with instant
transactions. It is based on the Bitcoin software, but it has a two tier network that improves
it. Dash allows users to remain anonymous while making transactions, similar to cash.With
Bitcoin, transactions are published to the blockchain and one can prove who made them or
to whom, but with Dash the anonymization technology makes it impossible to trace them.
Dash does this through a mixing protocol utilizing an innovative decentralized network of
servers called Masternodes, avoiding the need for a trusted third party that could
compromise the integrity of the system.Dash transactions are almost instantly confirmed by
the Masternodes network. This is a great improvement on Bitcoin’s system, where
confirmations take much longer because all the work is done by the miners.
Person Money [Prague, 2014]: Person.Money is multi currency payment system based on
Blockchain. Personcoin (PERS) is the main title unit in Person.Money. PersonDollar (PUSD) is
a title unit for products in USD with the value of 1 USD. It uses "Colored Coins" technology,
which allows to send and receive payments in various currencies with one wallet and the
same Person.Money address. All fees for sending transactions are equal to 0 or are very low
and are paid Personcoin. Person.Money is a new form of advertising where Ads are placed
on Personcoin nominals which are then put into circulation.
Dragonfly Fintech [Singapore, 2015]: Dragonflypay is the latest offering by Dragonfly
Fintech Pte Ltd, a Singapore-incorporated financial technology company utilising blockchain
technology, specialising in areas of money settlement and clearance, banking governance
and compliance, and mobile payments solution. Dragonfly Pay allows for easy and cheap
money remittance by converting real currency into digital tokens using the blockchain
technology. Their team is trying to solve the issue of high transfer fees for international
remittance.

Technology
Enablers
Consumer
XAPCASH Technologies [Vancouver, 2015]: XAPCASH is a remittance company that
streamlines cross-border money transfers by improving upon existing Pre and Post-Fund
Remittance Models with the use of Blockchain Technologies. They provide realtime money
transfer services based on realtime settlement over blockchain. The company was acquired
by Blockchain Technologies Ltd in February 2016
Nocks [Groningen, 2015]: Nocks provides web & mobile payments solutions using
blockchain technology. They have built around the Gulden blockchain and offer companies
and consumers all relevant payment options into one service. They are focussed on
worldwide mobile payments using existing NFC, QR and Beacon technology. They claim that
their users aren't confined to accepting merchants, they can pay anywhere using the
available techniques, NFC and QR being the most popular, they are even compatible with
the POS-tools of their competitors,
Simper [Guadalajara, 2016]: Simper enables its users to send money from US to Mexico via
an app, which is powered by a private blockchain network. They also plan to facilitate
payments of Mexican services from the US (CFE, Telmex, Megacable, etc), providing
rudimentary banking services like savings account and loans for the recipients of money.
The sender can link his/her bank account or a prepaid card in the app and then choose the
recipient or service he wants to pay across the border. When the recipient receives money
he/she can cash out via a decentralized network of representatives or use the money in the
app to pay for services.
Payments - Microtransactions
Strawpay [Stockholm, 2014]: They operate an open payment network built on the features
of bitcoin protocol, Stroem, that can handle micropayments, down to a few cents. They
claim that the payment process from the consumer to a merchants takes less than a second.
Stroem also builds on top of the payment protocol spec BIP 0070 which is used primarily
between the consumer's wallet and the merchant. Characteristics include low cost, privacy,
fraud resistance, and proof of purchase etc.
$82.67k Stockholm Innovation and Growth

Technology
Enablers
Consumer
BitMesh [San Francisco, 2014]: BitMesh is a decentralized platform that allows people to
leverage existing devices and internet architecture to share their internet connection with
peers in exchange for bitcoin. Negotiation of the price of data takes place in a local
"marketplace", achieving a fair price for internet without requirement for a contract or third
party escrow. A BitMesh server can be set up on a raspberry pi and have multiple clients
connect to it. It establishes micropayment channels between the server and client and uses
a captive portal to titrate internet time given to the user based on how much the user has
paid so far. The user can also set the policy/terms of usage.
Bazaar Entertainment [Tokyo, 2014]: Bazaar Entertainment provides a P2P Micro Payment
System and a P2P AppStore. Bazaar platform enables people in emerging countries engage
App EcoSystem without the need of modern payment system and high speed internet.
Bazaar provides P2P voucher based on BlockChain technology distributed between users.
They claim that the transaction cost of their voucher is 1/100 cheaper than current
alternative payment solutions. P2P AppStore enables distribution of apps between users
with reward system through which they claim that users can download apps free of charge
and 30 times faster than 3G connection in emerging countries.
Payments - Loyalty & Rewards
Ribbit [San Diego, 2014]: RibbitRewards is a rewards program built using Blockchain
technology. RibbitRewards are generated and awarded every time a user transact, whether
he is a buyer, seller or a merchant. Just like any other digital currency RibbitRewards are
tradable. It has three components to the business model: 1.Loyalty Network: for issuing
digital loyalty.; 2.RibbitRewards Digital Wallet: for storing and exchanging digital loyalty.;
3.Marketplace.life: for spending digital loyalty.
$1.5M Hayaat Group, Privity LLC
Manifold Technology [Menlo Park, 2014]: Manifold Technology is a startup that provides
private blockchain technology to financial institutions for better asset liquidity and
performing transaction analytics. They plan to solve the problems of the outdated rewards
program using the blockchain technology. The Manifold platform enables real time tracking
of transactions and hence, makes for faster settlement of rewards. The firm is also looking
at expanding the platform's capabilities to other sectors in the future.
Plug and Play Ventures

Technology
Enablers
Consumer
My Market Partners [Superior, 2010]: My Market Partners created Payyus, a mobile app
that substitutes for payment cards at the POS by moving funds directly from a customer’s
bank account to the business owner using the Blockchain’s Distributed Ledger. It is white
label app is sold directly to businesses owners enabling them to advertise to their
customer’s mobile while reducing their merchant card processing fees. Customers receive
loyalty gift rewards, ease of payment, gift card sharing, email receipts and can pay with
bank funds or even crypto. Payyus monetizes by charging for advertising and picking up a
percentage of all POS transactions.
Payments
Love Will Inc [St. Louis, 2014]: Love Will Inc. develops blockchain financial software for
business commerce. Their product, Fluent, is a global commerce network built on the
blockchain that enables real-time, low-cost and secure b2b invoicing and payments globally.
They connect US dollars to a blockchain-based payment platform allowing anyone in their
commerce network the ability to perform cross-border payments. They also provide a
bitcoin wallet Pheeva, to enable bitcoin payments, started in 2014.
$2.51M
Payments
Pey [Hannover, 2014]: PEY is a smartphone-based payments system (software/hardware)
that uses blockchain technology to securely and quickly confirm its transactions. It uses
ibeacon technology for the payments. PEY's focuses on bringing security and usability to the
mobile payments workflow used in brick-and-mortar stores while also shrinking the value-
chain and thus reducing the cost for all parties involved. The payment can be made using
virtual currency through an app acting as a wallet launcher at over 20 merchant outlets,
who are in partnership with PEY. The PEY app uses Bitpays Bitcoin Best Bid (BBB) price for
the calculation purposes and uses Yallet as their wallet.
$339.78k
Payments
DGB Holdings [Hong Kong, 2014]: DigiByte Holdings Limited develops FinTech business uses
and applications on the DigiByte blockchain. They develop end to end solutions, from
consumer acquisition to data security to supply chain management. Their blockchain
projects cover areas like social ecommerce, remittance, document verification etc, the
company initially offered a blockchain based payments and remittance network which still
accounts for its majority business.
$250K

Technology
Enablers
Consumer
Payments
Zcash Electric Coin Company [Boulder, 2016]: Zcash is a decentralized and open-source
cryptocurrency that offers privacy and selective transparency of transactions using
cryptography. Zcash payments are published on a public blockchain, but the sender,
recipient, and amount of a transaction remain private. Their zero-knowledge proving
scheme makes it possible to hide values and other identifying information from the public,
while verifying any transaction, only value balances are checked.
Pantera Capital, Fenbushi Capital
Payments
JACCOO [Amsterdam, 2011]: JACCOO is a cloud SAAS platform, powered by blockchain
technology that can integrate seamlessly with ERPs and Global Bank infrastructures. They
offer global cash visibility to companies that work with multiple banks or in multiple
countries by securely routing the incoming and outgoing payment transactions between a
company’s ERP systems and its banks and archives them in the JACCOO Cloud. This enables
a consolidated view of multi-currency cash positions, and control of cash movements across
the enterprises (distributed ledger). The platform also makes managing cash across multiple
systems easy with a browser/mobile friendly interface.
Payments
SericaPay [San Francisco, 2014]: Serica & SericaPay deliver financial services for leading
SMBs and healthcare providers, leveraging the Blockchain to lower total cost of ownership.
Their gateway also provides in-house KYC/AML screening of customers. Secure Socket
Layering Technology encrypts all communciations between the wallet and Serica. They don't
hold private keys in the digital wallet giving the users full control of funds and assets
Payments
Lightning [New York City, 2015]: Lightning is a decentralized network using smart contracts
to enable instant, high volume transactions across a network of participants. They claim the
platform to be capable of millions to billions of transactions per second across the network.
They charge low transaction fees thereby enabling micropayments. The network also
supports Cross Blockchains, which are chain agnostic enabling instant transactions between
blockchains without custodial risk.

Technology
Enablers
Consumer
Payments
Bankymoon [ , 2014]: Bankymoon is a blockchain based payment product and consulting
company. There key products include crypto-currency integration solutions for prepaid
utility vendors giving their customers the option to pay for utilities using the most popular
crypto-currencies including Bitcoin, Litecoin and Dogecoin. They also provide prepaid
vending solutions using smart contracts which execute directly without 3rd Party systems.
They also enable micropayments and provide cross-border money transfer services.
Payments
Setl [London, 2015]: SETL deploys a multi-asset, multi-currency institutional payment and
settlements infrastructure based on blockchain technology. The SETL system will enable
market participants to move cash and assets directly between each other, facilitating the
immediate and final settlement of market transactions. The SETL system maintains a
permissioned distributed ledger of ownership and transaction records, simplifying the
process of matching, settlement, custody, registration and transaction reporting.
Lending and Investing - Portfolio
Management
Etherplan [Denver, 2015]: Etherplan Autonomous Portfolios works like Merrill Lynch,
Schwab, or Wealthfront, but are software programs that hold funds and are hosted on
Ethereum, a cryptocurrency exchange, instead of Wall Street. On Etherplan, customer
portfolios are at the center and financial services are relegated to the edges because they
are based on the blockchain technology with ensures transparency. It is a multi-asset class
service and is similar to existing portfolio management companies, except for the fact that
its denominated in cryptocurrency.
Lending and Investing - P2P Lending
Bitbond [Berlin, 2013]: Bitbond is a global peer-to-peer bitcoin lending platform. Small
businesses get access to affordable loans while lenders earn profitable interest rates. Since
Bitbond works exclusively with the digital currency bitcoin, neither the borrower nor the
lender need a bank account to participate in our global loan market.Bitbond's mission is to
make investing and financing globally accessible.
$938k Point Nine Capital

Technology
Enablers
Consumer
Loanbase [San Mateo, 2013]: Loanbase is an international blockchain-based bitcoin crowd-
lending platform. They attempt to make Peer-to-Peer Bitcoin lending a secure and
sustainable process. Borrowers get the lowest possible interest rates and lenders enjoy the
lowest default rates. Their platform also provides small businesses in
emerging markets with access to capital at affordable rates from lenders across the globe.
Small businesses have had disproportionately limited access to capital, yet they're
fundamental drivers of the economy. Investors include LaunchHub and Boost VC.
$252.94k Launchub
Pylon [San Francisco, 2014]: Peer-to-peer lending should truly be peer-to-peer. Pylon
enables anyone to lend and borrow money easily and securely. Using Pylon, anyone can
structure a loan without a third party by simply set amounts and dates for borrowing and
repayments. Pylon makes it easy and tracks identity and transaction history so lenders know
who they are dealing with. Pylon assists anyone to create a loan on the Blockchain. All
information and transaction history for each loan is recorded on the Blockchain. Charges no
feee on loans. Makes money by providing services such as lending marketplaces and
transparency services for individuals and businesses. Raised Seed funds from Adam Draper's
Boost VC.
Boost
Money Circles [London, 2014]: Money Circles is a credit unions i.e. member ran savings &
lending companies for people who share a common bond; who want to replace bad banks
and predatory pay-day-loan companies. MoneyCircles allows people to create and operate
their own credit unions on the Blockchain which provides savings and lending services to its
members without all the usual associated costs and restrictions. It uses the concept and
technology of digital currencies. Users can store their digital money in a secure wallet and
can commit it to Circles of your choosing, to be made available as loans to its members and
start earning interest. Each user of MoneyCircles.com has a Money Circles Credit Score.

Technology
Enablers
Consumer
Credit Dream [Recife, 2015]: Credit dream plans to implement cross country P2P lending by
leveraging the blockchain technology, they aim to connect investors from any country to
borrowers in any country. They deliver their services through the app “Meu Crédito” which
is not a financial institution. They have launched it as a way to validate the idea and
measure the demand, they are not currently giving out loans until they get fully compliant
with regulations. The customers can currently simulate loan application and payments
through their app.
Lending and Investing - Investment Platform
Horizon [Bangkok, 2014]: Horizon VC is in initial stage and will make debut in Q1 2016. It
will allow formation of DAOs or Decentralized Autonomous Organizations - in which people
can invest by buying shares. This platform hence, enables people to invest in private
companies through this mechanism.
Chroma Games [Portland, 2015]: Chroma.fund (by Chroma Games) is an investment
crowdfunding platform that allows anyone in Oregon to make investments in local
businesses, products, and creative projects. Business owners may use Chroma.fund to
create campaigns that explain the project or business opportunity that they’re attempting
to raise money for.Many of the businesses seeking investments on Chroma.fund are issuing
something we call the ChromaCoin bond. This ChromaCoin serves as a counterfeit-proof
record of ownership of the stocks and bonds purchased on Chroma.fund.
ExiVest [Brooklyn, 2015]: ExiVest addresses the liquidity issue of private startup stocks by
valuing and then clearing and settling the transaction via derivatives over blockchain. In
order to cope with the opaque markets, they have developed a Central Limit order book on
which the stocks can be listed for sale in the open market. They also enable anyone to
browse through private startup market for purchase of stocks. They support valuation of
restricted stock units, options and multiple stock classes.

Technology
Enablers
Consumer
Lending and Investing - Crowdfunding
Waves Blockchain Tokens Platform [Moscow, 2016]: Waves is a decentralized
platform that deploys custom blockchain tokens to denote any form of value. Tokens can be
issued by any platform user, and can be transferred, swapped, and traded on an integrated
decentralized exchange. Tokens may represent 1) a share in a crowdfunding project, 2)
financial instrument, or 3) any other item with inherent value. They do not rely on a third
party to maintain the platform, hence eliminating over-centralization. All the platform data
is stored on all system nodes in a distributed fashion thereby enabling decentralized trading,
crowdfunding and value transfer.
$2M
Swarm [San Francisco, 2014]: Swarm is a crowdfunding protocol built on bitcoin
technology. It enables the backer of the project to experience the upside of the project.
$1M Techstars
Vinumeris [Zurich, 2014]: Vinumeris GmbH is a Swiss company focused on research and
development of cryptographic software solutions. Our first product is Lighthouse, an open
source, decentralized application that implements all-or-nothing crowdfunding for Bitcoin,
fully on the block chain. Currently experimenting with crowdfunding the development of
decentralized and cryptographic software via Lighthouse and the Crypto Projects Gallery.
The Rudimental [Los Angeles, 2016]: The Rudimental aims to enable equitable distribution
of wealth in the art and media industry while simultaneously producing high quality media.
For artists, they get their project funded, and keep in good standings with the SEC by doing
all the requirements on their part. Over the Ethereum network, their system will automate
all the processes, keeping costs at minimum. For producers, the goal is to mediate much of
the risk on investor side by doing comprehensive background checks on all people
connected to a project. There is a 21 day waiting period between the time someone files
and their project is approved to be listed on The Rudimental.

Technology
Enablers
Consumer
Coishare [Irvine, 2014]: Coishare offers a service where companies can issue digital shares
to investors looking to invest in such companies. The crowdfunding is equity based.
Qualified investors have to bid to earn shares in a company. Companies can track shares
ownership in real time and distribute dividends. Yet to release their product for public use.
Crowdesto [London, 2015]: Crowdesto is a dynamic participatory platform which allows the
individual citizen instant and interactive access to a truly democratic environment of ‘living
pods.’ User citizens create and share their views and take control of the issues facing them
within location specific forums that feed into regional, national and global platforms. It sets
out to transform the way the individual engages with the worlds of politics, financial
markets, and entertainment and consumer affairs. They have developed a datahub
(website) to facilitate the analysis of opinions within the platform. Their app will provide a
simplified access point for the user to engage with the platform, allowing the "citizens" to
voice their opinions, they anticipate the app will feed information through to the platform
which will then be used to slice the data, providing the citizen with the power to review and
assess opinions in their local area.
BlockTrust [Amsterdam, 2014]: BlockTrust, the first all-inclusive funding solution bringing
angel investors to developers, will provide a secure and reliable crowdfunding platform to
certify and host projects based on blockchain technology. Integrating multiple signature
wallets and the digital notary protocol, BlockTrust verifies and reviews blockchain projects
for integrity, feasibility, and security. Crowdfund Hosting with Authentication through
ClearingHouse and Secure MultiSig Escrow.
WeiFund [Toronto, 2015]: WeiFund is a non-profit, decentralized, open source
crowdfunding platform built on Ethereum. They leverage web3 enabled technology to
provide a comprehensive crowdfunding solution on the Ethereum ecosystem. It enables
contributions to be turned into contractually backed digital assets such as equity shares or
tokens that can be used, traded or sold within the Ethereum ecosystem. Also it is extensible
and can interact with any compatible token or equity system. This means campaign
contributions can be turned into shares or tokens securely.

State of the blockchain markets, july 2016

State of the blockchain markets, july 2016

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State of the blockchain markets, july 2016