Year in Review 2016: Blockchain Advancements (part 2)

blockchain advancements

This is the second part of our year in review. See the first part here.

 

2016 was, among other things, a year of great technological achievements: we have observed advancements in artificial intelligence, augmented reality, self-driving cars, virtual reality, blockchain… During 2016, blockchain adoption continued to grow, while bitcoin maintained the position as its most popular currency – all leading towards the prediction that 2017 will turn the hype closer to reality. 2016 also marks a very important period for Coinify. We would like to thank all those who were a part of it and share reminder of the most important highlights of our transformation in the past 365 days with you.

 

Investment confirms banks’ appetite for blockchain know-how

Following the ongoing trend of traditional financial institutions getting more involved with blockchain technology in one way or another, this investment further validates blockchain as an inseparable part of the financial landscape, worthy involvement and exploration. In this round of $4m, SEB Venture Capital (investment branch of SEB Bank) has, as the new and leading investor, joined Seed Capital Denmark. Subsequently, our board experienced the following member changes: Richard Breiter was replaced by SEED Capital’s partner Lars Andersen; SEB Venture Capital got represented by Stefan Olofsson and Filip Petersson as his deputy; and Jesper Knudsen from Accelerace, the earlier round investor, has left the board. We would like to take the opportunity to thank Richard and Jesper for their invaluable work as we welcome the new board members joining us with their valuable expertise as we grow and mature.

 

Coinify-Investment-SEB

 

Accelerating bitcoin adoption together with Blockchain.info

When it comes to blockchain ecosystem collaboration, strategic partnership with the global bitcoin wallet market leader Blockchain.info is without doubt our greatest achievement of 2016. Partnering up with Blockchain.info combined the best of both worlds – bitcoin storage and bitcoin acquiring – into one product. Blockchain users across Europe can now (with Coinify) top up bitcoins directly from their Blockchain.info wallet. Being more connected and user friendly, the partnership removes friction and makes the bitcoin adoption much more easier and accessible. As Blockchain.info’s CEO Peter Smith puts it, this collaboration “represents a giant step forward in making bitcoin, still a nascent currency, a more compelling and efficient financial solution for new users.” We couldn’t agree more with Peter.

 

bitcoin blockchain coinify partnership

 

Improving our services with new features and functionalities

Accept payments in 14 blockchain currencies

Our team is always looking for new ways to improve Coinify services. By the end of 2015, we had  added multiple blockchain currencies in addition to bitcoin in our payment processing services. To offer even greater versatility for our customers accepting blockchain currencies, this functionality was added in the latest API, resulting in all web-based integrations to Coinify now supporting blockchain payments.

Accept 14 blockchain currencies with Coinify

New trade platform launched

We also wanted to improve the customer experience for our Trade users and to provide them with modern and interactive interface via launching a new Trade platform. Among the improvements, the new interface offers traders a better overview of the status of their orders. However, this is still an ongoing process of incorporating user feedback into making further improvements. We want to thank all who shared their valuable feedback with us, helping us make the new platform better.

 

New trade platform coinify

 

New platforms for blockchain-fintech knowledge sharing

Forbes Councils logo

Coinify CEO in the Forbes Finance Council

Receiving an invitation to Forbes Financial Council, exclusive international community for finance executives, stood out as a great chance to exchange knowledge and contribute with the blockchain know-how. At the same time, Mark Højgaard became the first Dane to join this invitation-only community.

 

emerging payments association

EPA membership and ambassador

Another great opportunity to develop valuable connections with payment industry influencers and to advocate for the use of blockchain came with the involvement in Emerging Payments Association. Besides becoming a member, our Sales Manager Morten Bebe was appointed EPA ambassador.

 

Awards and the recognitions that reward and motivate us

It is a great honour every single time we receive recognition for our work in the form of an award nomination or shortlist selection. Thank you for: Best Payment Solutions Provider Company Denmark (Global Banking and Finance Review award); Brand Excellence in Electronic Payment Solutions Denmark (Finance Digest award); European FinTech Top 100; 10 Hottests Nordic Fintech Startups (Cointelegraph shortlist); 16 Hottest Nordic Startups (Business Insider shortlist); feature in the Startup Guide Copenhagen (book); nomination & finals for the Akademikernesprisen and nomination for Years’ Daredevil (Ivækstprisen). Keeping our spirits high, they give us extra kick in innovating the financial services and making them more frictionless for the customers.

 

This Year in Review post has featured a new investment round, Blockchain collaboration, new service features, together with memberships, awards and recognitions. You can also read about the new cases for bitcoin and blockchain technology, blockchain development lab, Asian expansion and an overview of the events that our blockchain experts attended in the post Year in Review (part 1).


Image credits: Goodfreephotos (Ian Schneider), Coinify, Blockchain.info, Forbes and Emerging Payments Association

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