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11 Apr '13, 12pm

OpenCoin raises funding from Bitcoin Opportunity Fund and others to launch Ripple virtual currency by @nisummers

OpenCoin raises funding from Bitcoin Opportunity Fund and others to launch Ripple virtual currency by @nisummers

OpenCoin has closed an angel round of funding with participation from Andreessen Horowitz, FF Angel IV, Lightspeed Venture Partners, Vast Ventures, and the Bitcoin Opportunity Fund ; an investment vehicle for Bitcoins and Bitcoin-related companies. The involvement of Bitcoin might sound a little odd, given its recent spike and trememendous nosedive in the markets yesterday, but OpenCoin plans to use the investment to fund the Ripple protocol, its own virtual currency and payments system. Ripple is an interesting concept. It’s an open source payments system, developed by OpenCoin, that also doubles as a native math-based virtual currency called ‘ripples’. Merchants, consumers and developers can use it to make free, instant payments across the globe, using any currency in existence. That includes dollars, yen, euros and – surprise, surprise – even Bitcoin. Ripple is currentl...

Full article: http://thenextweb.com/insider/2013/04/11/opencoin-raises-...

Comments

  1. 11 Apr '13, 7pm

    Safer than BitCoin, might be seen as legit when compared to Bitcoin. Does not have the secrecy/mystery value that Bitcoin has, and with back up of known silicon valley folks more trust worthy. Yes, would not be different than currency offered by central bank (as mentioned below by rszrama) but might offer more flexibility and ease of operation.

    Since the Cofounder and CTO also runs Mt.Gox what are the chances that Bitcoin and Ripple have been started by the same person.

    http://abhishekanvey.blogspot.in/2013/04/ripple-from-opencoin.html

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OpenCoin Raises Funding From Bitcoin Opportunity Fund And Others

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