Bitcoin lending platform Bitbond gets €200,000 in seed funding

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 lending platform Bitbond has secured €200,000 (=$268,000) in seed funding, arranged by venture capital firm Point Nine Capital.

Bitbond lenders earn interest on their bitcoins, loaned to regular borrowers or to fund bitcoin projects. Borrowers needed to supply financial information in order to determine their creditworthiness. If rejected, they can also post a load request.

The service is effectively a p2p lending platform, not a bank or a lender on its own. Lenders can therefore earn more interest than they would through traditional means, and borrowers gain access to capital which they may have otherwise not enjoyed. Since launch just over one year ago, it has reportedly facilitated almost 200 loans in over 100 countries.

Despite the setbacks faced by Bitcoin in its evolution, co-founder and CEO Radoslav Albrecht remains optimistic:

“There was huge disruption and of course people did lose money, but it is over, and contrary to what many people thought at the time, it has not deterred businesses from using bitcoin. When I look at our user sign-ups, they didn’t decline after the Mt. Gox Mt. Gox Mt. Gox is the name of a Japan-based cryptocurrency exchange that was infamously hacked for 850,000 BTC worth roughly $450 million at the time in February of 2014. During July 2010 Mt. Gox formally launched Mt. Gox launched its exchange and price quoting service. It was subsequently sold to French developer Mark Karpelès in early 2011.Prior to its hacking, Mt. Gox suffered from other security vulnerabilities as early as June 2011. On 19 June, 2011, a security breach of the exchange caused the no Mt. Gox is the name of a Japan-based cryptocurrency exchange that was infamously hacked for 850,000 BTC worth roughly $450 million at the time in February of 2014. During July 2010 Mt. Gox formally launched Mt. Gox launched its exchange and price quoting service. It was subsequently sold to French developer Mark Karpelès in early 2011.Prior to its hacking, Mt. Gox suffered from other security vulnerabilities as early as June 2011. On 19 June, 2011, a security breach of the exchange caused the no Read this Term crisis, they actually went up. We see the overall trend as more people getting engaged with bitcoin.”

Mainstream engagement will be key, as the bitcoin lending industry had previously developed a bit of a stigma for facilitating Ponzi schemes. The more it's adopted, the harder it will be to keep such schemes out of the public eye.