The Bacon Report — DigitalBits Continues To Build Mass Adoption Ready Platform
Your morning crypto… with a side of bacon. Get ready for the first ever Bacon Report!
DigitalBits recently announced its partnership with Fireblocks, an institutional-grade solution for the storage and transfer of digital assets. Since coming out of stealth mode in June 2019, Fireblocks has moved a whopping $7.5 billion monthly between exchanges, received a Service Organization Control (SOC) 2 Type II Certification from big four firm Ernst & Young, and services in excess of 23 digital currency exchanges and 20 institutional counterparties. For the official press release, click here.
So, what does this latest addition to the DigitalBits ecosystem mean? In a recent CryptoGems AMA, it was hinted that big players were finally coming to town. DigitalBits’ Early Access Program has been working in stealth with large brands for over a year — outside of that we haven’t got much information… except for CEO Al Burgio making mention of multiple publicly listed brands coming online, each bringing in excess of 10 million accounts with them. We don’t know who it is yet, but with the addition of Fireblocks, it’s only a matter of time. The writings on the wall — DigitalBits is bringing massive brands online, with huge existing customer bases, all of which are going to be leveraging the DigitalBits blockchain.
The Fireblocks Network addresses common attack vectors that quite plainly make crypto a bit of a pain in the ass, things like cyber attacks, internal fraud and human error. On top of this, transacting with crypto when everything is going right still isn’t all sunshine and rainbows, you’ve got stuff like test transfers, whitelisting and hardware wallets to deal with. And you can bet that enterprise level players are not going to stand for these little points of friction — in 2019, Walmart processed about $514 billion in revenue, those little points of friction add up — and that’s just customer facing volume. But Fireblocks’ gets rid of all of that. And they’re working with DigitalBits… something big’s definitely cooking.
This announcement comes hot on the heels of some other DigitalBits bombshells:
- In early Q2, Kucoin listed DigitalBits XDB token — not only that, the exchange actually partnered with DigitalBits to launch the Enterprise Currency Desk — an OTC-like desk specifically designed to help brands and enterprises acquire digital assets for their blockchain solutions.
- DigitalBits partnered with blockchain powerhouse, GDA Capital, to further enterprise adoption for branded cryptocurrencies. GDA’s worked with some serious class-acts, including fortune 500 companies such as Toronto Dominion Bank, governments through North America, the Caribbean, Africa and Asia, as well as some of the biggest blockchain ecosystems such as TRX and ONT.
- Alpha Sigma Capital, led by ex-Nasdaq strategist Enzo Villani committed up to $1 million USD to buy XDB. Enzo has also expressed his support for branded stablecoins and the role they will play in the growing digital landscape.
Recently, upwards of 24% of XDB on exchanges was moved into private wallets as noted by Twitter account @Pentoshi… was this Alpha Sigma Capital making its initial purchases? Something’s cooking guys, and I can’t wait to take a bite.
Recently DigitalBits has been highlighted by many crypto influencers and communities including Blockfyre, SpectreGrp, CryptoGEMS, Chico Crypto, AltCoinBuzz and TehMoonwalker to name a few. They obviously see what we see here and believe with any major news like what is being hinted we could see XDB with in the top 50 in all of Crypto as soon as this year.
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