Coinbase Oracle, Gun Sirer’s Grants and Blandina ‘Bakkts’ Out

A little-known technology startup has become the de facto designer of China’s Blockchain-based Service Network, an internet platform that could have significant geo-political consequences.

Roger Ver is rumored to be in acquisition talks with the bitcoin startup Purse while Erin Gun Sirer wants to bring decentralized finance (DeFi) to AVA. Here’s the story:

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The Belt-and-Road of e-Commerce 
A little-known company with fewer than 100 employees called Red Date is a critical player in the development of China’s Blockchain-based Service Network (BSN), a government-supported initiative scheduled to open for global commercial use Saturday. The BSN is a state-run platform with potential geopolitical ramifications, which provides the infrastructure for developers to build blockchain applications. Red Date is spearheading the network’s technical design, and is among three founding companies that have invested roughly 200 million yuan ($28.5 million) combined in BSN and cut deals to use two Amazon Web Services data centers in China.

Purse Strings
Bitcoin startup Purse.io has a lifeline after all. “Several interested parties” including “well-known Bitcoin investors” may acquire the firm, after it announced its intention to shut down last week.  

Advertising Copy-Cats
The former CEO and CTO of Ethereum-based advertising company Bidooh have admitted to all claims they copied proprietary software for use in a new rival venture, misuse of confidential information, as well as a breach of their fiduciary duties. Bidooh is a digital advertising company that allows companies to broadcast customized ads to anyone walking past their interactive billboards. 

Bakkt President Adam White will stay on in his role. (Credit: CoinDesk archives)

Backing Out of Bakkt

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