Cryptocurrencies have created an entirely new economy which previously didn’t exist. For this uncharted territory to prosper investment and expert guidance is crucial.
Seedco.in is one of the businesses that is at the forefront of this fiat resistance. It helps startups find their feet and is always on the prowl to incubate future leaders in this sector.
These types of technologies create a wave of new startups looking to develop, maintain and grow companies.
Digital currency is nothing new for the tech savvy, but for your average layman it’s a whole new concept, one that will soon be learning to walk into the homes of every person on the planet. This means one thing, exponential growth and prosperity for entrepreneurs.
We spoke to the co-founder of Seedco – Eddy Travia, who is currently serving as the Chief Startup Officer to clear a few of our questions.
What type of Bitcoin startups are you looking to invest in?
We look for Bitcoin startups we feel have the potential to deeply transform the industry it is targeting either at a local or an international level. For example, we have invested in MexBT, bitcoin exchange to launch in Mexico very soon where it has the potential to completely change a $22bn market, the remittances market between Mexican living abroad and sending money back home. CoinSimple.co will make it very easy for merchants to add bitcoin payment processors to their online platforms, it is the kind of service that can exponentially accelerate the adoption of bitcoin. zSIM enables all mobile phones (not only smartphones) to become secure bitcoin wallets, this is another Seedcoin startup whose technology could have a massive impact, specially on the unbanked.
How much money are you looking to invest in 2014?
We raise funds and invest in bitcoin in the startups through the Seedcoin Funds, we have raised BTC2,000 for seven Seedcoin Fund I startups so far (in January 2014) and hope to raise another BTC8,000 during the remaining part of the year so BTC10,000 in total for 2014.
Do they[companies] have to be US based or World Wide?
Seedcoin is based in Hong Kong with three partners, Eddy Travia in Hong Kong, Alexis Nicosia in Singapore and Hakim Mamoni in London. Among the startups incubated so far only one has a company in the US (moved from Singapore), we do not require any specific country, startups can be established anywhere but we may advise some jurisdictions based on our experience with other Bitcoin startups established there.
What Bitcoin sector do you think needs more innovators?
Bitcoin is a very young technology so Bitcoin needs innovators in all sectors. As we have seen in the past the community works together very actively as soon as there is any potential issue putting the network at risk in any way. A multitude of new applications, new models and new services will emerge in the next few years and this is why at Seedcoin we feel excited about the prospects of the current and future startups we help developing.
How are the funded companies doing?
Great. Dealcoin (www.dealco.in) the first incubated startup, an in-person Bitcoin exchange, now offers members the choice of adding a quick deal to orders they create. The Seedcoin Fund I startups are progressing very fast, Hive (www.hivewallet.com) is now live, Hive is an extremely easy way to create, manage and secure a Bitcoin wallet. Cryptopay (www.cryptopay.me) is also live, rapidly enrolling clients in Europe. Cryptopay provides merchants in the United Kingdom and the European Union with a secure, reliable and legal way to accept Bitcoins. GoCoin (www.gocoin.com) continues to garner critical and commercial acclaim, as the leading platform for merchants to accept Bitcoin and Litecoin payments at checkout. zSIM is another transformational application for all mobile phones, making these devices secure Bitcoin wallets. CoinSimple (www.coinsimple.co) facilitates the ability of e-commerce merchants to accept bitcoins by integrating existing Bitcoin payment processors into a business owner’s online store. CoinSimple is an added layer on top of these processors, with a subscription-based SaaS solution, which allows merchants to easily switch between payment processors and maintain customer analytics in one place. BTC.sx (www.btc.sx) is a powerful trading platform that allows users to make leveraged directional orders on the value of bitcoin. The company’s impressive momentum – surpassing USD $35 million of trading – and the user base expansion by 45% since November – is a testament to its success. MexBT (www.mexbt.com) is in the midst of finalizing its state-of-the-art trading exchange platform, where the company already has a substantial presence among traders in Mexico’s OTC Bitcoin market.