The Early Bird Got The Coin ~ Blockchain Technology

Karan Karnik
Mar 22, 2018 · 3 min read

Coinbase, Blockchain.info & Circle, how did you guys call it?!

I bet we all wish we had a time machine to go back in time and give ourselves tips on investing in bitcoins early (amongst other things of course).

Trends in technology are hard to predict but when you do you’re called a visionary. Early adopters have the audacity, courage and vision to take a chance on something that nobody has faith in yet.

Blockchain was first conceptualized by a person called Satoshi Nakamoto in 2008. He following year he launched a core component of the cryptocurrency Bitcoin. Using Blockchain technology, Bitcoin became the first digital currency to solve the double spending problem without having a trusted authority.

Coinbase, Blockchain.info & Circle didn’t waste any time in capitalizing the golden opportunity that was blockchain.

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The most valued company in the blockchain ecosystem, here’s Coinbase

Founded in July of 2011 by Brian Armstrong and Fred Ehrsam, Coinbase had a meteoric rise after graduating from the Y Combinator batch of 2012 with services to buy and sell bitcoins through bank transfers.

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In January of 2015, they launched a U.S. based bitcoin exchange — Coinbase Exchange now called Global Digital Asset Exchange (GDAX).

Even though they’re the largest exchange, Coinbase’s missteps make it clear that the virtual currency industry is still young. Currently having over 13 million users, Coinbase seems to be going strong in the space.

“The thing I’m passionate about with digital currency is the world having an open financial system.” — Brian Armstrong (Chief Executive at Coinbase)

The bitcoin wallet that rasied $40 million last year ~ Blockchain.info

Ben Reeves the co-founder at Blockchain.info was initially part of the founding team at Coinbase. Due to issues about the future of bitcoin wallets he exited Coinbase.

Blockchain.info is a cryptocurrency wallet supporting Bitcoin, Bitcoin Cash and Ethereum. Launched in August of 2011, they were the most visited bitcoin website in 2013 and reached 1 million user wallets in 2014!

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Last year the CEO, Nicholas Cary led the company to raise $40 million in another wave of financing.

We’re at the beginning of our understanding for how this technology can harden democratic institutions and improve development aid effectiveness. The Future is Decentralized. — Nicholas Cary (CEO at Blockchain.info)

One to pave the way for Bitcoin Wallets before its pivot~ Circle

Jeremy Allaire and Sean Neville founded Circle in October 2013. Now a peer-to-peer payments technology company. Up until December 2016 Circle Pay operated as a bitcoin wallet service.

Circle received the first BitLicense issued from the New York State Department of Financial Services in 2015 and the first Virtual Currency License from the British Government in 2016.

Unlike other bitcoin wallets that simply gave merchants the ability to receive bitcoins, Circle focused on the everyday consumers and user-friendly options for paying with bitcoin.

If I say I believe in the bitcoin movement and I want to hold bitcoin instead of dollars, but a friend doesn’t necessarily care about bitcoin, or even care that I want to have bitcoin, that’s fine — Jeremy Allaire, Co-Founder of Circle (2015)

Circle believed that when friends started sending money to each other using Bitcoin only will the movement come true. It’s 2018 and it’s truly happening.


Karan Karnik

Written by

In a never-ending pursuit to understand why people do what they do. Product Designer living in Toronto.