Bitcoin.com Acquires Blockchain Development Platform O3 Labs

Published October 21, 2019 | Updated October 21, 2019

Bitcoin.com
Bitcoin.com

Bitcoin.com Acquires Blockchain Development Platform O3 Labs

Bitcoin.com has acquired Japanese blockchain development startup 03 labs. The acquisition has been done in accordance with bitcoin.com’s vision to develop its platform as a medium for providing the ability to manage, grow and spend money without the need for traditional banks or financial intermediaries.

Bitcoin.com Acquires 03 Labs

The acquisition of 03 labs will help bitcoin.com offer a range of financial services. According to Bitcoin.com CEO, Stefan Rust, 03 labs, which has previously built applications for NEO and Ontology blockchain networks will now develop such applications for Bitcoin Cash, the native cryptocurrency of bitcoin.com. According to Rust,

“We look forward to accelerating services in our mobile applications serving anyone in the world with an internet connection, regardless of nationality, socioeconomic status, or access to traditional finance, ”

The arrangement allows bitcoin.com to employ members of staff from 03 labs but it is not clear whether 03 key members like the cofounder are employable under such terms and conditions. Also, the amount for which bitcoin.com acquired 03 labs was not disclosed.

Moving forward, bitcoin.com has undergone quite a few developments lately. The platform launched a crypto exchange and also announced plans of launching futures for Bitcoin cash on a Commodity Futures Trading Commission (CFTC)-regulated exchange.

The acquisition of 03 labs at this time will ensure that bitcoin.com stays in the limelight within the crypto space. As 03 labs will build applications specific to Bitcoin Cash (BCH), the platform moves to help the adoption of the cryptocurrency.

Developer Portal on Bitcoincash.org

Further, the website, bitcoincash.org, on the 10th of October, announced the launching of a developer portal on which tools are available for developers to build on BCH. According to content on the website,

“Create amazing apps with Bitcoin Cash with resources for developers, by developers”

The portal gives developers access to build infrastructure and other third-party services on BCH.

At the time, an unofficial page of Telefuel, an application for telegram power users who leverage the platform for coworking and collaborating, had announced that they were accepting BCH for some of their premium-tier services. Also, Visionati, a visual recognition engine that leverages artificial intelligence (AI) had also announced that it was accepting BCH at the time.

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Staff writer at Coingape. Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development. You can follow me on Twitter at @ShonubiDare or reach out to me at dare[at]coingape.com
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Staff writer at Coingape. Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development. You can follow me on Twitter at @ShonubiDare or reach out to me at dare[at]coingape.com
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