Publish: 05.09.2017

Alan Patricof Invests $2m In Blockchain Technology

It isn’t hard to imagine a day in the near future when the currency becomes available to Canadians in North America.

Canadian online casino players are becoming increasingly comfortable with using digital currencies like Bitcoin as a cashier option. Which is a good thing, because the world of “crypto” shows no signs of doing anything other than continuing to grow and expand more and more into the mainstream:

The latest proof of this ongoing development comes in the form of investment scion Alan Patricof’s decision to invest $2m in BitPesa, a blockchain payment platform owned and operated by the government of Kenya.

BitPesa Expanding Into Europe, Canada Next?

While the sum itself might not be eye popping, the very fact that such a respected investor is putting his money up at all on blockchain technology in Africa speaks volumes. To date, crypto currency has been viewed largely as a “first world” phenomenon – and with a healthy dose of skepticism, at that.

Patricof’s investment shatters that stereotype, illustrating not only the staying power of the crypt currency concept generally, but also its universal, global, potential.

“Bitcoin and cryptocurrency will play an important role in the payments and money transfer industries and even more so in the developing world for which BitPesa is ideally positioned,” Patricof said in a statement.

BitPesa has now raised $10m in investment and planning to expand more into Europe in the near future. With so much success – and the confidence of savvy investors like Patricof behind it – it isn’t hard to imagine a day in the near future when the currency becomes available to Canadians in North America.

BitPesa Continues Its Expansion

For its part, BitPesa and its executive team were enthusiastic about the credibility bump an investor like Patricof brings to the table. Elizabeth Rossiello, BitPesa’s CEO was quick to champion the news, and highlight the viability of the cryto currency model for entrepreneurs, investors, and users alike:

 “The speed of bitcoin payments has increased and this move ensures that technology can continue to have an ‘industrial use,’ underscoring how strongly people believe in it. We’re experiencing an exciting moment for the firm and for the industry,” she said.