Mastercard, CIBC Invest in Barry Silbert’s Digital Currency Group

Digital Currency Group (DCC), the Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term venture investment firm of SecondMarket founder Barry Silbert, has secured investment from a number of notable players in the financial industry.

Among them are MasterCard, which has until now largely steered clear of digital currency, and the Canadian Imperial Bank of Commerce (CIBC), which disclosed its interest in Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term technology four months ago.

MasterCard now joins the other two credit card giants, Visa and American Express, with its interest in blockchain technology.

Other investors in DCC include Bain Capital Ventures, CME Ventures, FirstMark Capital, New York Life Insurance, Novel TMT Ventures, Oak HC/FT, RRE Ventures, Solon Mack Capital and Transamerica Ventures.

The investment was announced yesterday at the Money20/20 conference is Las Vegas. The amount invested was not disclosed.

DCC was formed through the merging and break-off of two Bitcoin-focused subsidiaries of SecondMarket Solutions, which was recently acquired by Nasdaq. The subsidiaries were Genesis Global Trading, a bitcoin trading firm, and Grayscale Investments, which manages the publicly traded shares of Bitcoin Investment Trust (OTCMKTS:GBTC).

Silbert said that DCC will be operated as a holding company, not an investment fund. “Being structured as a company, versus a fund, allows us to evolve with the industry given our permanent capital base and flexible mandate,” he commented.