PnP Fintech Startup Program May Signal Industry Shift From ‘Blockchain’ Back to Bitcoin

By August 22, 2016Bitcoin Business

For at least the past year, many investors and entrepreneurs have been talking about the power of the blockchain for use in a variety of applications in different industries. Blockchain has turned into a catch-all phrase for anything involving a shared ledger or database but the technology was first created by Satoshi Nakamoto for the purpose of tracking and confirming Bitcoin transactions. Blockchain technology has been hyped for use everywhere from traditional banking institutions to the healthcare industry and some have gone as far as to say that generalized, private blockchains will have a much greater impact on the world than Bitcoin. However, there have been hints that this trend is on the verge of a reversal. One of the latest signs of the reemergence of Bitcoin is the batch of startups accepted into the fourth round of the Plug and Play Fintech program. Of the 24 startups accepted into the program, six are working with the Bitcoin blockchain in some capacity. Focus on Bitcoin Startups The six Bitcoin-related startups in this round of Plug and Play Fintech are Eximchain , Netki , Shocard , The Sun Exchange , Tierion and Tradle . Interestingly enough, The Sun Exchange is the only one using bitcoin as a currency. The startup allows international users to invest in solar panel projects around the world and they’re currently focused on the Southern Africa region. “We are rather special in that we offer bitcoin holders the opportunity to invest in a product that produces a financial return in BTC,” The Sun Exchange CFO Larry Temlock told Bitcoin Magazine . “For those people that want to buy and hold BTC for the long term, this attractively high investment yield can provide a sort of ‘buffer’ against unfavorable decrease in BTC value vs other currencies or […]

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