Auckland Startup ‘Vimba’ Got $330 Grant From The Government

Nov 1, 2018 at 16:00 Update Date :Nov 15, 2018 at 13:10 UTC

Vimba, an Auckland based crypto startup landed a grant of $330,000 from the Crown agency Callaghan Innovation.

Sam Blackmore, chief executive of Vimba, which was previously known as MyCryptoSaver, stated that Callaghan has invested $330,000 into their business startup Vimba.

He said that it is surely an important investment from Callaghan Innovation and a sign of faith in the future of this exciting asset class.

Role of Vimba

Vimba platform helps users to save and trade Bitcoins, which was set up in 2014 in order to provide the simplest way for the people to make small purchases of BTC. After the breakdown of Bitcoin in value from high of around $20,000 USD to below $5000 USD, people doubted the crypto prospects and its many followers.

The global investment hype machine now has moved to blockchain which is a transactional database technology invented for BTC, machine learning, cannabis, and Artificial Intelligence.

Melanie Tuala, a spokeswoman of Callaghan, labelled the funding as ‘research and development project grant’, which the company analyzed against the criteria set up already. She continued and cleared about the claims that people are talking about them as ‘picking winners’ but the out role is to administer the grants base upon certain criteria, and they’re not optional. She ended the words with, “If they meet it, they meet it,”

Vimba’s Chief Executive on Bitcoin

The chief executive further added that they believe in the BTC and the crypto will reach the market capital of gold because Bitcoin is an efficient, more secure, and more accessible version of the crypto asset. For BTC to reach the market capital of gold, the worth of a single BTC should be around $600,000, which is more than 60 times than what it is today.

Sam Blackmore said that the Callaghan grant will lead to developing new features. They will use the grant to build safe multi-signature wallet of cryptocurrency for the users and in the future, will expand the crypto range availability beyond common cryptos like Ethereum and Bitcoin.

The world was entering a new era of “mathematical currencies” that were not reliant on “borders or politicians”, Blackmore said.

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