25 Sep '13, 11am

Armory and the monetization of bitcoin wallets

Armory and the monetization of bitcoin wallets

A group of prominent investors recently made a play in the bitcoin wallet space by backing startup Armory Technologies, Inc . The $600,000 seed round investment will go mostly towards funding and expanding development. Interestingly, this placement brings into focus a much larger issue: the monetization of bitcoin wallets. It’s no mistake that Armory founder and CEO Alan Reiner told CoinDesk: “This first 12 months is more about developing a quality product than it is figuring out how to monetize it.” An effective wallet monetization strategy doesn’t exist yet. Even lead investor Trace Mayer agrees. Wallets being in dire need of improvement is “actually very problematic and a tragedy of the commons problem which I fear will likely only get worse because it is so difficult to monetize wallets,” he wrote . Mayer also said: “There is no immediate plan for how to monetize Armor...

Full article: http://www.coindesk.com/armory-monetization-bitcoin-wallets/

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