Dear Member,
Since we recommended Ravencoin (RVN) a little more than a week ago, the coin has been on a tear. It’s risen from around $0.025 to $0.045 with heavy trading volume.
The coin continues to build momentum. And Overstock and Medici Ventures CEO Patrick Byrne gave it a nice boost in Overstock’s earnings call on Monday:
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Analyst: Patrick, I want you talk to the next slide on Ravencoin.
Patrick Byrne: Thank you. Ravencoin is an open-source project towards which Medici Ventures has been especially supportive by contributing labor and mining. The mining of this coin has spread faster than any coin in history. It’s 14 months old. The community is very active. We’ve been supportive of this open-source movement. And although we only own a single-digit percentage of the coins – of Ravencoin – it’s not just the value of the coins that we find attractive. It is the elegance and robustness of the Raven protocol for digital assets going forward. Next, Raven has a role to play in a number of these Medici companies. It’s been designed and developed as the perfect protocol for digital assets and has significant advantages over both bitcoin and ethereum. I think you’ll be hearing very significant news about Ravencoin shortly, perhaps as early as this week. It plays a role in the number of the companies in which we’re involved, like you’re seeing in front of you here. If you know the business model of ConsenSys, one could say that Medici Ventures has a similar business model, but where ConsenSys is purist about using ether, we are not purist about using Ravencoin. But there are four or five companies in there, at least, that look like they will be making use of Ravencoin. |
A Byrne interview from a day later offers more detail on how Medici is using Ravencoin to tokenize securities.
Here’s an excerpt:
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Derek Edward Schloss: I had a chance to interview Tron Black, principal developer for Medici Ventures and lead developer on the open-source project Ravencoin. How do open-source blockchain projects like Ravencoin, and others like it, fit within the vision you have for a tokenized world?
Patrick Byrne: Ravencoin is a fork of bitcoin, but it’s really been optimized to handle assets and securities. We have 20 different blockchain companies within Medici Ventures – what we are doing, where possible, is leveraging and integrating Ravencoin into these different projects. So for example, we’re invested in an Israeli company that’s doing a blockchain supply chain system for wineries. Ravencoin is the preferred solution for that company. We’re in the same process now with tZERO. TZERO is blockchain agnostic, and Ravencoin won’t be the only chain underlying tZERO, but people will be able to issue security tokens on Ravencoin. You may see it emerge in a number of our projects, like ConsenSys did with Ethereum. |
Medici Ventures and its tZERO platform are true leaders in security tokens. And they’re placing significant trust in Ravencoin as a part of their emerging ecosystem.
Ravencoin is emerging as a real competitor to Ethereum in the asset digitization space. And the coin is still tiny compared with ETH. I remain very bullish on RVN, and I see it emerging as one of the coins that could lead the next altcoin bull market.
I continue to believe that many altcoins – especially those without such impressive real-world traction – will be left behind in the next bull market. Only quality coins with real-world traction will rise. Ravencoin is looking like it’s the real deal.
I’m carefully looking for more quality opportunities like RVN, and you’ll be the first to know when I find them. I also believe the rest of our portfolio is well-positioned for the future – especially bitcoin (BTC), nano (NANO) and decred (DCR).
Good investing,
Adam