So far, most applications of blockchain technology have been solutions looking for problems. That’s not to say there haven’t been some really exciting use cases like Othera or Data Gumbo. It’s just that so much garbage has been created alongside these gems of hope. ICOs, NFTs, and speculative cryptocurrencies in general, have created a tremendous amount of noise that serious investors need to peer through in order to find anything of substance. When a $4.2 billion company runs their entire business around monitoring crypto transactions to thwart ransomware attacks, one wonders if the value being created offsets all the collateral damage.
We recently talked about how many bright minds see blockchain/crypto as a viable investment thesis going forward. Look no further than Andreessen’s $3 billion crypto fund, or ARK’s belief that Energy and Financial Services will be most disrupted by innovation over the next five years. It makes you wonder what these pundits are getting really excited about today? To answer that question, we’ll turn to a firm called Tifin which ARK Invest’s own Cathie Wood recently joined as a member of their Board of Directors.
Founded in 2018, Denver’s own Tifin has raised just over $49 million in funding from Morningstar, Broadridge, and JP Morgan to build a platform that conceives, creates, and operates fintech companies. These notable investors also help provide exits for Tifin’s portfolio of companies….