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Is There Hope for Bitcoin?

Posted on 8.23.2016

Despite the high's and low's there still may just be some hope for virtual currencies.

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Retail powerhouse Rakuten indicated this week that it has acquired bitcoin wallet startup Bitnet and will create a "blockchain lab" to explore potential opportunities. Rakuten, which apparently invested in Bitnet back in 2014 (to the tune of a $14.5 million investment round led by Highland Capital Partners), integrated Bitnet's payment option into some of its online sites last year.

“Drawing on the significant IP assets and deep engineering expertise of the Bitnet team and combining that with Rakuten’s leadership in fintech and support of innovative solutions, the new Rakuten Blockchain Lab will be our first step toward unlocking blockchain’s potential to revolutionize the way that financial and e-commerce transactions are conducted,” Yasufumi Hirai, who leads Rakuten’s technology division, added via a prepared statement.

Are you an e-commerce merchants considering Bitcoin?

Speak out and share your experience with the use of virtual currencies with a comment below now.

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