Bitcoin Center NYC to Drive Innovation through Startup Incubator

By CIOReview | Friday, March 6, 2015

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FREMONT, CA: Startups have contributed a great deal to innovations that have changed the way our world works. In a bid to foster such innovation in the near future, Bitcoin Center New York has launched an incubator for Bitcoin startups.

Bitcoin is an innovative payment network and a form of digital currency which is held electronically, and uses peer-to-peer technology to operate without any intervening central authority or banks. It was invented by Sataoshi Nakamoto and published as open-source software.

A report by Kevin Cruz in the Bitcoin magazine points to the New York facility being dedicated to educating public on Bitcoin and crypto-economics. Though the incubator’s primary focus is block chain related technologies, it is willing to consider any startup for the program. They will be offering an open concept working space; managed resources, agile project management services as well as exit strategies that would help them reach the market.

Investing in startups like Cryptos, LiveryCab, Digital Asset Vending Enterprises (D.A.V.E) –an open source Bitcon ATM, running as an Android app –and Blockchain Apparatus, holds a mirror to its commitment to take the technology forward.

Speaking about their objective, John Lilic, the Head of Investor Relations and Operations at the Bitcoin Center, says that they want to be a force for positive change and innovation in the new blockchain paradigm. “We are positioning ourselves by investing in our companies. We are uniquely positioned to observe the incredibly rapid growth of this sector. Smart money venture capital and Wall Street has already moved in to the tune of hundreds of millions of dollar, and this is just the very beginning,” he adds.