CASE Raised Additional USD 1M - Essay Example

The bitcoin hardware wallet manufacturer and developer, Case has raised $1 million in an additional seed funding.

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In June 2015, Case secured $1.5 million in a funding round which was led by FuturePerfect Ventures, a New York venture firm whose portfolio includes industry startups such as Abra, Blockchain and Blockstream along with RRE Ventures, the Rochester Institute of Technology Fund and others. Hence, it has secured a total of $2.25 million to date.

In a blog post, the chief executive officer of Case Melanie Sharpiro stated, “Bitcoin and other distributed ledger technologies facilitate the transfer of digital financial assets within cryptographically secured, immutable environments.

Case acts as a secure signing device that streamlines this process without increasing the risk of compromising sensitive data.”

According to Shapiro, the Digital Financial Asset encompass:

Assets that are traded with an agreed present or future value. (eg. Public Equities)

Debt and associated coupon payments (eg. Bonds)

Establishing or reassigning ownership of assets (eg. Titles/ Deeds)

Distributing private securities (eg. Pre- IPO shares)

Redistribution of funds between accounts (eg. Payments Processors)

Loyalty Programs (eg. Reward Point Programs)

Among the growing number of bitcoin hardware wallet provider which includes companies such as KeepKey, Ledger and Trezor, Case is noted for a product that is designed with advanced security features that includes biometrics and veteran entrepreneur.

On 9th of September 2015, Case participated in the issuance of shares in Pivit which is a newly launched public opinion marketplace.

It is an online and mobile gaming application that is founded by the creators of political betting site, Intrade and has raised $5 million in its most recent funding round.

Pivit has issued a minority portion of the convertible notes by using the software of Digital Asset Holdings LLC, a blockchain startup that is led by the former J.P. Morgan Chase and Co. executive Blythe Masters.

Case was started with a vision of securing transactions on the blockchain. Its goal is to decentralize security and eradicate single points of failure through trusted biometrically secured devices that are built on independent out of band communication channels.

Sharpiro concluded by stating, “The blockchain offers more efficient alternative to these outdated methods.

Transactions recorded on a blockchain are validated by a distributed network of trusted or anonymous nodes, settled in gross within minutes or hours, and require no third parties.

However, as we move away from traditional financial asset distribution methods, we must re- imagine current security models.”