Ripple’s former CTO launches digital content-focused smart contracts platform
Stefan Thomas, better known as Ripple’s former Chief Technology Officer, has announced that he will be launching a new smart contracts platform specifically aimed at helping enterprises to monetise their digital content.
Announced by Medium, the newly named firm Coil has released the Codius smart contracts platform under an open source license.
Most interestingly, unlike other smart contract platforms on the Bitcoin and Ethereum platforms, Codius runs on the independent Codius Host application as opposed to relying on any underlying blockchain.
The open-source approach looks to tackle both operational issues and problems surrounding inefficiency and a lack of transparency that often occur with traditional smart contracts platforms.
To this end, Wietse Wind, a developer of the project, explains the key benefits of Codius:
“I am excited to develop on Codius as I expect it will allow users to authorize a Codius application to sign transactions on the user’s behalf. The Codius app will allow users to set fine-grained permissions and limits, without having to expose the users private key to the Codius infrastructure or the Codius application developer.
“This will allow developers to create a new breed of tools without compromising on security. Tools that can bridge the gap between the XRP ledger and external systems, events, triggers, and data. This could have an important impact on social developments and practical problems.”
The firm’s first product will be a standard subscription for consumers that will pay earnings to any website signed on to the monestisation standard.
Start-ups receive $60 billion investment, smash 2020 record
Start-ups on the continent have raised a massive 43.8 billion euros ($60.9 billion) in just the first six months of 2021, according to figures from Dealroom, surpassing the record 38.5 billion euros invested last year..
This is despite the fact that the number of venture deals signed so far is around half the amount agreed in 2020. Only about 2,700 funding rounds have been raised so far this year, compared to 5,200 last year.
Prime examples in times of change
Examples are Swedish buy-now-pay-later firm Klarna which has raised more than $1.6 billion in two financing rounds, the German stock trading app Trade Republic received $900 million in May and British payments provider Checkout.com snapped up $450 million at the start of the year.
The figures suggest that European tech firms are pulling in far larger sums of money per investment than in previous years, which defies the economic uncertainty of the pandemic and boosted online services enormously.
The CEO of Checkout.com, Guillaume Pousaz, said start-ups have often been created in times of crisis, citing the emergence of several new financial technology companies in the wake of the 2008 global financial crisis.
He added that big transformational change was often the time when there is the emergence of a lot of new start-ups, sometimes when people are losing their jobs for associated reasons.
UK leading the charge
Scale-Up Europe, a group that includes the founders of UiPath and Wise, proposed 21 recommendations to help the region build “the next generation of tech giants.” Among the suggestions are tax credits to corporates for investing in start-ups and regulatory changes that adapt to new innovations.
Sebastian Siemiatkowski, CEO of Klarna, said the U.K. leads Europe when it comes to tech policy, and that there were a number of regulatory issues needing to be addressed before the European Union can produce tech giants of its own.
Siemiatkowski highlighted EU regulation of web cookies as an example of “poor regulation.” Yet, as the number of $1 billion start-ups in Europe continues to grow, the number of exits in the continent is also increasing.
This year has already seen some notable acquisitions, including Etsy’s $1.6 billion purchase of U.K. fashion resale app Depop and JPMorgan’s takeover of London robo-advisor Nutmeg.
As for stock market listings, a number of notable debuts have taken place in London in particular, including food delivery app Deliveroo, cybersecurity firm Darktrace and reviews site Trustpilot. Money transfer giant Wise, formerly known as TransferWise, plans to go public in the U.K. capital soon.