Branson Backs Blockchain Wallet

On July 10, English business mogul Sir Richard Branson announced that the Virgin Group has invested in a Series B financing round for Blockchain, a bitcoin wallet business. ETHNews previously covered this round of funding, which also included investments from Lakestar and GV (formerly Google Ventures). 

In his post, Branson writes, “Blockchain’s focus has been on building the most used and trusted wallet technology, enabling users to essentially act as their own bank. We think the wallet will play a pivotal role in this ecosystem and I see the business leading the way in a space that has the potential to disrupt the world of money and centralised institutions.”

A spokesperson for Blockchain expressed gratitude for Branson’s vote of confidence:

"We are very fortunate to have the continued support of world-renown investors and entrepreneurs, like Sir Richard Branson, who recognize the positive implications of digital currency. This capital will allow us to make big, bold bets and we look forward to what the future holds."

Branson observed that since his company’s initial investment in blockchain technology in 2013, “regulatory clarity” has advanced while the cryptocurrency ecosystem itself has evolved.

Calling upon the Virgin Group’s own versatility, Branson suggests that it’s important to back entrepreneurs “who know how to deal with these changes.” In particular, he applauds co-founders Peter Smith and Nic Cary for creating “a platform that will allow them to be the custodian of any digital assets should alternate use cases of blockchain technology reach critical mass.”

Later this month, Branson’s pristine Necker Island will play host to its third annual Blockchain Summit.