Bitski, a venture that encourages the development of crypto wallets revealed that firms such as Galaxy Digital, Winklevoss Capital and Coinbase Ventures will be participating in its fundraising seed round.
Their developer’s platform, Bitski believes, would certainly help the blockchain industry surmount a major impediment: most people feel the effects of configuring a wallet. Bitski claims its single-sign-on wallet can perhaps shift the blade on mainstream adoption by installing a pre-loaded wallet actually on a client’s favorite video game.
Bitski co-founder and CEO, Donnie Dinch, went on to say that the $1,81 million in fresh capital was being invested in training a pipeline of developers who are working on blockchain development. (The cumulative campaigning of the startup adds up to $3.54 million, including a pre-seed round in late 2018.)
A couple of game development companies currently utilize Bitski’s product; they are a sports website that is run on Ethereum, and YouNow, an online streaming platform of props token.
“They are planning to work on stuff which really has comprehensive appeal,” says Dinch, emphasizing that gaming has always been the company’s primary focus. They are indeed interested in several initiatives for key crypto-users.
Additionally, Sterling Witzke, a Winklevoss Capital partner, stated they are happy to help Bitski create a platform for companies that wish to integrate blockchain with their product line.
The simple UX of the wallet offers a balance on personality-custody, Dinch stated, although many users choose to utilize a management key from a private entity. In “cryptographically protected” datacenters, Dinch added, all user wallets are preserved with hardware security modules (HSMs).
Compound protocol founder Robert Leshner, who through Robot Ventures Fund took part in the fundraising round, mentioned that Bitski presents itself as a key platform for new crypto users.
Moreover, Leshner also mentioned that “encrypting public-key is the foundation for an increasingly decentralized technology environment, however, it is still too complex and confounding for conventional user experience. He went on to state:
“Bitski is a necessary experiment to (re)imagine how we interact with blockchains. They remove the friction and difficulty of wallet management while preserving security and increasing portability.”
Located in San Francisco, Bitski is a four-member team and out of the four members, three of the co-founders formerly served with WillCall, a travel software that Ticketfly acquired in 2014.