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The industry’s blockchain project, B3i, has ceased activities and filed for insolvency following unsuccessful funding rounds.
“The directors, following consultation with the shareholders, have collectively concluded that there was not sufficient support to continue with the venture at this stage,” said an announcement on the company’s website.
“I think it was a very quality effort, but at the end of the day, we did not see the volumes in the demand” that would have justified continued investment in this platform,” according to John Dacey, group CFO for Swiss Re, which was an original investor in the B3i initiative.
“Conceptually, I think it remains a very interesting opportunity for the industry. It may be that at some point in time, somebody breaks the code, but at this point of time with this platform, it didn’t seem like it was going to go forward in a profitable way,” said Dacey during a Swiss Re media call to discuss the...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...