OpenCoin takes funding for open payment network

expanding its open-source currency

Open payment network OpenCoin has raised an undisclosed amount of funding from Andreessen Horowitz, FF Angel, Lightspeed Venture PartnersVast Ventures and Bitcoin Opportunity Fund.

OpenCoin will use the funding to expand its open-source currency and payment platform, dubbed Ripple, which is similar to BitCoin.
The company defines standards and provides an implementation around the blind-signature system as invented by David Chaum, known as electronic cash / digicash. The software and specs are Open-Source under a GPL License. 

Related reading

Leave a comment