Bitcoin

Samourai Wallet Raises $100,000 In First Funding Round, Will Utilise Funds To Fight Bitcoin Surveillance

Samurai Wallet, a privacy-focused crypto wallet, which deals specifically only in Bitcoin, has managed to raise $100,000 in its first-ever funding round. The wallets place special emphasis on improving privacy and fighting Bitcoin surveillance.

Created by Keonne Rodriguez and William Hill, former developers at Blockchain.info, via their start-up Katana Cryptographic, Samourai Wallet is extremely focused on privacy. The start-up has managed to bag a $100K investment from Cypherpunk Holdings. The software wallet is an application built specifically for Android users.

Privacy has been one of the key features which made Bitcoin as successful as it is. However, surveillance on bitcoin transactions have plagued the space, and hence, projects like Samurai Wallet are extremely important. The wallet has unique features like intermediary hops in a transaction, which create uncertainty about the source of payment. All the features packed in the wallet have one single goal, and that is to enhance privacy for users.

The wallet charges a small fee for every transaction, in bitcoin. Commenting on the funding, Keonne Rodriguez, Director of Samourai Wallet said,

There is no other cryptocurrency that is as battle-tested and hardened as Bitcoin. The founding team of Samourai has zero interest in working on other coins or even other layers of bitcoin at this time.

Cypherpunk is a venture fund listed on the Canadian Securities Exchange under the ticker symbol HODL. The start-up came into existence to support privacy-enhancing technologies. The company’s Chief Investment Officer said,

Katana’s technologies will advance the bitcoin project. Privacy is an increasingly important, yet underfunded sector of the market, and it is increasingly coming under attack.

Dominic Frisby, another high-profile executive of Cyberpunk, said,

Bitcoin itself scores badly on privacy, but it scores highly on market cap and usage. What bitcoin has that no other coin does is this colossal network effect. That is a powerful thing.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.
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