Looks like Bitcoin technology companies are attracting venture capitalists quite a lot. This also shows these are able to generate confidence among investors that their money will be generating value in future. The latest entrant is, Case, the Rochester, N.Y.-based innovator in block chain technology. The company has secured $ 1.5 million in seed funding.
According to the company the seed funding was led by Future\Perfect Ventures, along with RRE Ventures and the Rochester Institute of Technology Fund, among others. The funding round follows the launch of Case’s credit card-sized hardware Bitcoin wallet last month at TechCrunch Disrupt NY 2015 at Manhattan Center in New York, N.Y.
Nonetheless, the secure, easy-to-use device leverages multi-signature, multi-factor security with visual validation and global GSM connectivity. The company says that they are building the world’s most secure wallet platform and according to them case is a multi-signature, multi-factor wallet that requires 2-of-3 keys for a transaction to take place.
They also inform that each key is generated and stored in a different location and protected by a different authentication factor so there’s no single point of failure. Some rich features include dedicated hardware that’s malware/virus proof; case servers only control one key so we don’t have possession of funds, etc.
Additionally, they are open source firmware and third party security audits of all systems and designed to meet CryptoCurrency Security Standard Level III.
Case is Poised to Provide Trusted, Decentralized and Biometrically-Secure Services
Talking about the funding series, Case Chief Executive Officer Melanie Shapiro says that the recent announcement that the NASDAQ is piloting block chain technologies for different use cases underscores the promise of the technology and Case is poised to provide trusted, decentralized and biometrically-secure signing of those and similar transactions.
He further added:
We’re looking forward to providing uncompromised security and ease-of-use for Bitcoin buyers, sellers and users, to unlock the potential of Bitcoin and block chain technologies. Making highly-secure signing and authentication available across a variety of applications is just the beginning.
Thus, Case, the company that is developing partnerships with financial services organizations to build consumer adoption of products that deliver the best security and privacy, is now about adoption acceleration. Nonetheless, as part of the launch, Case announced the availability of a limited number of its Bitcoin wallets on a pre-order basis through the company’s website.
To contact the reporter of this story: Deepak Tiwari at email@example.com