|By Business Wire||
|August 25, 2014 05:00 PM EDT||
Korbit (https://www.korbit.co.kr), Korea’s leading bitcoin exchange, wallet and merchant processor, has closed a $3 million Series A funding round led by SoftBank Ventures Korea. Pantera Capital led the round from the US side, with participation from BAM Ventures and previous investors Bitcoin Opportunity Corp., Tim Draper, Pietro Dova and initial investor Strong Ventures. Regarding the investor group, Korbit CEO Tony Lyu noted that, “the leading investors in the Bitcoin space have chosen Korbit and continue to show support.”
Regarding the Korbit investment, SoftBank Ventures Korea Partner Kangjoon Ryan Lee remarked, "The costs and security issues arising from the reliance on financial intermediaries for credit guarantees has been mitigated through Bitcoin's technological innovation. Bitcoin provides big advantages in terms of cost savings and ease of use compared to traditional currencies and credit cards. I expect Bitcoin to create meaningful markets in payments and international remittance. Going forward, Bitcoin can play a role in wider variety of industries, for example enabling machine-to-machine transactions or acting as a platform for smart contracts."
Dan Morehead, CEO of Pantera Capital, remarked, “South Korea has a booming e-commerce market and was an early adopter of virtual goods. The government supports innovation and even the banking foundation is invested in Korbit. Pantera Capital is excited about the investment in Korbit and confident that Bitcoin will thrive in Korea because of its early adoption of innovative technologies and abundance of technical talent,” adding that, “Pantera believes that Bitcoin has the potential to transform the way we use money. It will do for payments what the Internet has done for communications and commerce.”
Korbit introduced Bitcoin to Korea last year by opening the world’s first Bitcoin-Korean Won exchange. This year Korbit has started helping merchants accept Bitcoin through their processing service Korbit Pay (https://pay.korbit.co.kr). Said Korbit CEO Tony Lyu, “User excitement for Korbit Pay has vastly exceeded our expectations,” adding, “We’ll be focusing on improving the security and ease of use of our services with this new round of funding and continue to bring in top talent from around the world.”
Korbit started the world’s first Bitcoin-Korean Won exchange in April 2013. Korbit has previously raised $600,000 mainly from angel investors in Silicon Valley such as Tim Draper, Naval Ravikant and David Lee. Korbit is comprised of professionals from leading firms such as IDEO, UBS, Samsung Electronics, Microsoft and the Korea Exchange. Visit www.korbit.co.kr.
About Korbit Pay
Korbit Pay is a merchant processing service for Bitcoin payments. Since launching in June 2014, Korbit Pay has signed up 400 merchant accounts. Offline merchants include Nescafe (coffee) in Gangnam and Natuur (ice cream) in Pangyo, while online merchants include Hanintel (lodging reservation) and News Peppermint (news translation). Said Korbit CEO Tony Lyu, “User excitement for Korbit Pay has vastly exceeded our expectations,” adding, “customers who experience making a payment with Bitcoin are generally surprised with the speed and convenience of the transaction.” Korbit Pay merchants are attracted to the service because of the low fees and the potential to reach over 5 million Bitcoin users around the world. Visit pay.korbit.co.kr.
About SoftBank Ventures Korea
SoftBank Ventues Korea is a venture capital firm owned by SoftBank Corp. Formed in 2000, they operate a $300 million fund and have invested in over 170 promising startups. They focus on internet services and platforms, mobile services, digital contents and education. Previous investments include Alibaba, Nexon and DramaFever. Visit www.softbank.co.kr/en/.
About Pantera Capital
Pantera Capital is an investment firm focused exclusively on Bitcoin, other digital currencies, and companies in the space. Bitcoin is an entirely new thing – a “post-currency” ledger – that is borderless, secure, low-cost, and which allows virtually instantaneous payment and transfer.
Pantera was founded in 2003 by Dan Morehead, who was chief financial officer and head of Macro Trading at Tiger Management. Visit www.panteracapital.com.
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Dec. 7, 2016 11:15 AM EST Reads: 2,279
IoT solutions exploit operational data generated by Internet-connected smart “things” for the purpose of gaining operational insight and producing “better outcomes” (for example, create new business models, eliminate unscheduled maintenance, etc.). The explosive proliferation of IoT solutions will result in an exponential growth in the volume of IoT data, precipitating significant Information Governance issues: who owns the IoT data, what are the rights/duties of IoT solutions adopters towards t...
Dec. 7, 2016 11:01 AM EST
Regulatory requirements exist to promote the controlled sharing of information, while protecting the privacy and/or security of the information. Regulations for each type of information have their own set of rules, policies, and guidelines. Cloud Service Providers (CSP) are faced with increasing demand for services at decreasing prices. Demonstrating and maintaining compliance with regulations is a nontrivial task and doing so against numerous sets of regulatory requirements can be daunting task...
Dec. 7, 2016 11:00 AM EST Reads: 957
"We are a modern development application platform and we have a suite of products that allow you to application release automation, we do version control, and we do application life cycle management," explained Flint Brenton, CEO of CollabNet, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 7, 2016 11:00 AM EST Reads: 968
SYS-CON Events announced today that Dataloop.IO, an innovator in cloud IT-monitoring whose products help organizations save time and money, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Dataloop.IO is an emerging software company on the cutting edge of major IT-infrastructure trends including cloud computing and microservices. The company, founded in the UK but now based in San Fran...
Dec. 7, 2016 10:45 AM EST Reads: 255
Application transformation and DevOps practices are two sides of the same coin. Enterprises that want to capture value faster, need to deliver value faster – time value of money principle. To do that enterprises need to build cloud-native apps as microservices by empowering teams to build, ship, and run in production. In his session at @DevOpsSummit at 19th Cloud Expo, Neil Gehani, senior product manager at HPE, discussed what every business should plan for how to structure their teams to delive...
Dec. 7, 2016 10:30 AM EST Reads: 1,478
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Phil Hombledal, Solution Architect at CollabNet, discussed how customers are able to achieve a level of transparency that e...
Dec. 7, 2016 10:30 AM EST Reads: 1,129
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
Dec. 7, 2016 10:30 AM EST Reads: 1,700
CloudJumper, a Workspace as a Service (WaaS) platform innovator for agile business IT, has been recognized with the Customer Value Leadership Award for its nWorkSpace platform by Frost & Sullivan. The company was also featured in a new report(1) by the industry research firm titled, “Desktop-as-a-Service Buyer’s Guide, 2016,” which provides a comprehensive comparison of DaaS providers, including CloudJumper, Amazon, VMware, and Microsoft.
Dec. 7, 2016 10:30 AM EST Reads: 915
SYS-CON Events announced today that Fusion, a leading provider of cloud services, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry’s single source for the cloud. Fusion’s advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including clou...
Dec. 7, 2016 10:03 AM EST Reads: 234
Unsecured IoT devices were used to launch crippling DDOS attacks in October 2016, targeting services such as Twitter, Spotify, and GitHub. Subsequent testimony to Congress about potential attacks on office buildings, schools, and hospitals raised the possibility for the IoT to harm and even kill people. What should be done? Does the government need to intervene? This panel at @ThingExpo New York brings together leading IoT and security experts to discuss this very serious topic.
Dec. 7, 2016 10:00 AM EST Reads: 386
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service. In his session at 19th Cloud Exp...
Dec. 7, 2016 09:30 AM EST Reads: 841
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Dec. 7, 2016 09:15 AM EST Reads: 7,240
Much of the value of DevOps comes from a (renewed) focus on measurement, sharing, and continuous feedback loops. In increasingly complex DevOps workflows and environments, and especially in larger, regulated, or more crystallized organizations, these core concepts become even more critical. In his session at @DevOpsSummit at 18th Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, showed how, by focusing on 'metrics that matter,' you can provide objective, transparent, and meaningful f...
Dec. 7, 2016 09:15 AM EST Reads: 4,606
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, sha...
Dec. 7, 2016 09:15 AM EST Reads: 1,092