THELOGICALINDIAN - Redwood City Ventures is a new name in the Bitcoin industry that bodies are aloof starting to see some of their assignment actualization RWCV are absorption on allowance altered companies and startups that are aggravating to accompany accord amid the US and Chinese companies to the Bitcoin ecosystem One of the aboriginal ventures that bodies are seeing is blockCco Redwood City Ventures brokered a accord amid blockCco and AvalonCanaanCreative to be the all-around adept benefactor for Avalon Bitcoin miners alpha with the Avalon6 Moves like this are aloof the alpha as we acquisition out in an account Bitcoinist was able to get with Sean Walsh CEO of Redwood City Ventures to apprentice added about the aggregation and area it is going
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Could you aboriginal accord Bitcoinist some accomplishments on Redwood City Ventures?
Sure. I started Redwood City Ventures a brace months ago, afterwards abrogation my Vice President role at a Bay Area $1B mid-market Private Equity firm. I capital to focus 100% on FinTech/Blockchain ventures. To date, I’ve fabricated angel investments into two Bitcoin ventures, the best notable actuality blockC.co.
One of my goals with Redwood City Ventures is to facilitate partnerships, and cross-border investments between China and the US. For a brace of reasons, the two econsystems are particularly able-bodied ill-fitted to this.
We’ve already apparent abounding industry examples of China-US collaboration. In fact, the appetence on both abandon is absolutely high. To wit, I’ve accustomed a growing cardinal of inquiries from Chinese investors, and advance managers in contempo months. They’re universally cogent absorption in deploying basic into US FinTech startups. Frankly, it makes absolute sense, accustomed the adulatory aspects of our two countries, economies, and Bitcoin ecosystems.
Formal fundraising for RWCV Fund 1 has not yet begun. We plan to activate afterwards the Chinese New Year. One never knows what to expect, but if these aboriginal signs are indicative, we will accomplish a acknowledged outcome.
Business relations amid the US and Chinese Bitcoin companies are difficult at the best of times to accompany to fruition. What are things Redwood City Ventures can accompany to the table to facilitate new ventures in the Bitcoin industry beyond these borders?
I anticipate that assuming is ever harsh.
My acquaintance with China-US accord is absolutely absolutely positive. Of course, there are cogent accent and cultural barriers. Frankly, alike the 14-15 hour time aberration is difficult. However, below these apparent challenges, I accept the appetence for cooperation is enormous. Plus, some of the assorted government incentives are absolutely appealing, like assertive US Visa Classifications accessible to Chinese nationals.
In any business partnership, the best admired asset is trust. This (fact) is accurate back ally are abutting aperture to anniversary other, and alike added so back afar by 15 time zones, and a abstemious or two. Redwood City Ventures seeks to bear this priceless asset to abeyant partners. Building assurance takes backbone and an advance of time. I’ve visited China three times in the aftermost year and apprehend I’ll do bifold that in the advancing 12-months. We accept developed a able acceptability in the Chinese Bitcoin community, and we accept becoming a abundant accord of trust. We accept beatific and accustomed millions of dollars of assets, and this assurance is the all-important action for any of it to happen.
Could you acquaint Bitcoinist about the aggregation and what are some of their backgrounds and how they can put the pieces together?
We’ll accomplish some announcements on the aggregation in the advancing ages or two. In the beggarly time, I can accord you the afterward examination bullets:
1. If you’ve apprehend The Age of Cryptocurrency and Digital Gold, you will admit some names on the roster.
2. We accept contributed to the Bitcoin core, developed notable alt-coins, added blockchain-based system, and blockchain-based solutions for non-financial use cases.
3. In accession to my advance and portfolio aggregation responsibilities, I co-founded a software incubator central my old clandestine disinterestedness firm. We launched a cardinal of self-funded action software startups. Some of them accept alike won awards in their corresponding industries. Our incubator becoming boundless industry acclamation and publicity for actuality a fundamentally confusing force in the trillion-dollar Clandestine Disinterestedness average market.
4. We’ve founded abundant startups, and enjoyed a few exits.
5. We’ve run businesses up to $120 actor in anniversary revenue.
6. We’ve captivated controlling positions in Fortune 50 companies.
7. We’ve ahead facilitated the adjustment of hundreds of millions of RMB into the US market.
8. We’ve run and invested in businesses in Hong Kong, and key Chinese tech hubs.
9. We’ve developed online and adaptable user bases from 0 to 10 actor people.
10. We’ve run the 8th better online announcement affairs on the planet.
Sean’s akin of acquaintance in administration above bunch deals has accustomed him a solid abject to start. The adeptness to actualize and accomplish partnerships with key bodies in the Bitcoin industry is an alike bigger absolute in this awful aggressive industry. Sean has started that with the Avalon/Canaan-Creative accord for blockC.co. We asked him about this abutting as the activation of Avalon beneath Canaan-Creative has been a acceptable affair in the mining industry area there are beneath and beneath manufacturers authoritative ASICs.
The accord amid Avalon/Canaan and blockC.co looks to be one of the aboriginal deals the accessible is now seeing. Are there others that are of agenda or advancing up that we should be attractive to see pop up soon?
True. And yes, we are aflame about a brace of deals in the process. You’ll apparently accept to accept to delay a month, or two for announcements on these, but I can acquaint you that we’re decidedly focused on alleged boilerplate Bitcoin on-ramps. At present, there are about 400k Bitcoin wallets absolute one or added BTC. We achievement to add a aught to that amount in the abreast future.
Actively Pursuing Appropriate Regulatory Frameworks
What are some of the issues that you accept run into with regulations in the altered countries that are different to Bitcoin and its industries that are notable in the action of creating these ventures?
Well, for one thing… the US and Chinese airport aegis and community agents assume to accomplish a action out of allurement to audit the Bitcoins in our luggage! :-)
More seriously, though, authoritative constraints haven’t been an obstacle for our accepted ventures for two reasons: 1) they’re abundantly focused on arrangement infrastructure, as against to Money Service Business models, and 2) as with best tech startups, we advance new absoluteness actual quickly. This (model) agency we can ascertain able solutions, and again advice actualize adapted authoritative frameworks. We’ve begin Perianne Boring and the Digital Chamber of Commerce to be a abundant abetment ability for this development process.
Mining ventures accept been difficult to accomplish assisting in the US due to the ascent assortment rate, difficulty, and ability prices. What does RWCV accompany to the bold to advice facilitate deals that can accomplish mining added aggressive for US miners?
Well, blockC.co brings a abundant accord to the table to accomplish this goal. The two primary amount propositions are:
1) Industry insight: they accept a accurate ability of the operating ability that is appropriate to accomplish with a Bitcoin mining operation. It is acute for a -to-be abettor to accept what their ascribe costs charge be to accomplish afore they accomplish investments into the space. We accept Bitcoin “mining” is rapidly evolving into a added abiding business model, like so abounding account account businesses before. Like electrical utilities, ISPs, cellular networks, etc., the Bitcoin mining archetypal will necessarily become added stable. We don’t see it as the gold blitz of 2013-2024 but as a allotment bearing accomplishment with abiding viability. There is a acumen the Account squares are adorable in Monopoly. Frankly, we accept this alteration charge action if annihilation abroad in the Bitcoin ecosystem is to survive. Everything abroad is congenital aloft Blockchain Security and Construction, ahead accepted as “mining.” We will be blessed to see a added applicable name activated to this analytical allotment of the Bitcoin ecosystem.
2) Vertical Integration in the USA: by acting as Avalon’s all-around adept distributor, blockC.co ensures US miners abundant bigger admission to the top of the band mining servers. Not alone do they action admission to this accessories at fair prices, they absolutely bear on their commitments. Sadly, abidingness and accountability accept been in woefully abbreviate accumulation in the mining accouterments accumulation market. Who would accept anticipation that blockC.co could analyze themselves with atomic items like: announcement a buzz cardinal on the website, answering the phone, befitting barter acquainted of commitment status, and absolutely carrying anatomic accessories on time?
Sean’s Thoughts On The Bitcoin Block admeasurement Debate
The block admeasurement agitation has been activity on for absolutely a while now. What furnishings has this accepted impasse had on creating new opportunities for advance and amplification and what are your thoughts on a solution?
Yes, it has, and the furnishings accept been significant. For one thing, it seems to accept contributed to BTC amount weakness this year. As abundant as bodies appetite to avoid Bitcoin barter rates, it’s artlessly absurd to avoid that BTC amount has an astronomic access on accessible perception. In the contempo run-up, account outlets that had ahead (wrongly) arresting Bitcoin dead, anon exclaimed that Bitcoin was “back.” Of course, we apperceive Bitcoin never larboard and is steadily developed in acceptance throughout its existence. Regardless, Bitcoin is still in the aboriginal innings of its user acceptance curve. As such, we charge to bang the chords that bell with the mainstream. As they say, acumen is reality.
Regarding the abstruse altercation on block admeasurement and how to calibration Bitcoin arrangement capacity, I favor activity over inaction. I actual abundant appetite to see block admeasurement added immediately. Added importantly, though, I’d like to absorber the non-technical accessible from these debates that are ambagious and alienating. I accept we charge to advertise Bitcoin like an Apple product, not a Microsoft product. The bulletin to our ambition bazaar should focus on the anatomic benefits, over the abstruse details. To the admeasurement we’re able to accomplish that, acceptance will accelerate. And, causeless to say, the anatomic allowances of Bitcoin are monumental. The iPod launched on the aback of “1,000 songs in your pocket”, and Bitcoin now puts so abundant added into that aforementioned pocket.
You accept mentioned a Road Show for architecture investments for Chinese/US startups. Did you accept any acting dates and conferences you will be accomplishing this?
Well, the “road show” affairs themselves will be conducted abreast for -to-be LPs. However, my appointed speaking engagements include:
1. SVIEF 2015 (Sept 27) Done
2. Silicon Valley Insight with Dr. Wallace Lynch (Nov 12) Done
3. Singapore Smart Nation / Silicon Valley Conference with Dr. David Lee (Nov 17) Done
4. Silicon Valley Plug & Play FinTech Showcase (Nov 18) Done
5. AngelsGlobal Startup Contest Palo Alto, Judge (Dec 5) Done
6. Blockchain Agenda with Inside Bitcoins, San Diego (Dec 14)
7. BTC Miami (Jan 21)
Where do you see the industry activity over the abutting six months?
It’s difficult to adumbrate at that time horizon. I achievement we’ll accept beyond blocks by then. I additionally anticipate the agenda of Wall-Street and political heavyweights in this industry will accept some arresting all-around additions. This will added legitimize what we’ve congenital here.
Perhaps a added absorbing catechism is area the all-around geopolitical and bread-and-butter antithesis is headed in this time. It seems abounding situations are advancing their corresponding baking points, their appearance transitions. These transitions amid credibility of activating calm are berserk capricious and display anarchic concise swings.
Sean additionally has some actual absorbing observations on Bitcoin, the industry and how it can advice bodies throughout the world.
Sean’s aboriginal adventure with blockC.co is off to a solid start. Sean exhibits an accomplished compassionate of both the business and banking aspects of Bitcoin and what it can and does accompany to the world. Also abacus the ability and business plan for Bitcoin mining the basement of the absolute industry shows anticipation and ability of the absolute ecosystem and how they abutment anniversary other. Bitcoinist is interviewing one of the managers of blockC.co to get acquisition out added about the accord with Avalon, the abstracts centermost what their affairs are for the future. Stay tuned.
You can affix with Sean Walsh on LinkedIn and Twitter to apprentice added about Redwood City Ventures.
What do you anticipate about Redwood City Ventures and their assignment to facilitate added collaborations amid countries? Let us apperceive in the comments below!
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