Auckland Startup Receives 300k Grant

Auckland Startup Receives 300k Grant
A cryptocurrency startup based in Auckland, US has received a massive $330,000 grant from the Crown agency Callaghan Innovation. As said by BTCwires:
“Callaghan Innovation was established in 2013 with the aim of making businesses more innovative in the country. It is a crown entity; a Crown Research Institute, Industrial Research Limited was merged in the Callaghan Innovation at the time of its inception. It is an innovation agency of New Zealand which activates innovations and helps the businesses to grow faster for a better future.”
The startup in question is called Vimba which is a local crypto trading and wallet platform. The CEO, Sam Blackmore has stated:
"This is a truly significant investment from Callaghan Innovation and a real show of faith in the future of this very exciting asset class."
The platform for Vimba allows customers to trade and save Bitcoins. After Bitcoin dropped from it’s high of nearly $20,000 last year, many people became sceptical about cryptocurrencies prospects and those of its many imitators. The investment hype that came along with this moved onto the blockchain, machine learning and artificial intelligence. Blackmore had made clear that people should look beyond the recent volatility of Bitcoin and look towards, what he sees as a long-term trend.
"We believe Bitcoin will at least reach the market cap of gold as it is a more efficient, more accessible, more secure version of that rare asset. For it to reach the market cap of gold, one Bitcoin would be worth around $600,000 — more than 60 times what it's worth today.”
Matt Gibson, the chief operating officer at Vimba spoke out saying that cryptocurrency startup will use the Callaghan cash to develop technology to send small amounts of Bitcoin to thousands of customers all at once. In his eyes, he believes that this will become the exchange’s point of difference from the competition. As reported by NZHerald, Blackmore has temporarily moved to the United Kingdom where he also intends to push the firm there and thus will officially launch in the UK market in the coming week.s What are your thoughts? Let us know what you think down in the comments below!
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