While certain countries are doing all they can to kerb the rise of Bitcoin and other cryptocurrencies, others are keen to take advantage of the benefits to the economy that a well structured and strategic approach to cryptocurrency can bring – and New Zealand has just become the latest country to make a welcome gesture with a $330,000 grant for Auckland-based cryptocurrency savings and trading platform Vimba.
Issued via government entity Callaghan Innovation, the grant recognises the innovation that Vimba brings to the market. An endorsement of the wider cryptocurrency market, Callaghan’s decision to fund this startup demonstrates
“a real show of faith in the future of this very exciting asset class”
according to Vimba CEO Sam Blackmore.
Based in Aukland, the Vimba platform was founded in 2014 by a pair of bitcoin enthusiasts hailing from New Zealand (originally under the name MrCryptoSaver) and enables users to use the New Zealand dollars in purchasing bitcoin or Ethereum. Having achieved a healthy level of stability, there are now plans to expand the range of cryptocurrencies on offer, although nothing specific has been set out by the company at this time.
Blackmore himeself is an individual who has not succumbed to the gloomy outlook that many in the field now share, stating
“We believe Bitcoin will at least reach the market cap of gold as it is more efficient, more accessible, more secure version of that rare asset. For it to reach the market cap of gold, one Bitcoin would be worth around $600,000 – more than 60 times what it’s worth today,”
According to reports, Vimba is also planning to venture into the UK market in the imminent future. It will be interesting to see if this innovative platform receives the same support from the UK government…