Cryptocurrency craze drives two Perth ventures

Two Perth start-ups are entering the world of blockchain very differently, one to serve the layman and the other the expert, but both are undaunted by the drastic fall last month in the value of the technology’s high-profile product — cryptocurrency.

Blockboxx founder Martin McGinty wants to gather together the existing expertise in Perth to move the technology forward.

Mr McGinty, an IT professional, became involved with blockchain only early last year but, like the technology itself, wants to move fast.

He said there were hundreds of online platforms where the enthusiastic early adopters of blockchain technology and cryptocurrency trading exchanged ideas.

“I want to get all that and bring it into a room,” he said.

Mr McGinty said the response to his idea to have a space in the city for traders and technology developers had exceeded his expectations. He hoped to have a space open next month for founding members.

Digital Capital Management was set up by two pairs of brothers from country WA. Chief executive Todd Burgess and his brother Chadd, from Donnybrook, have teamed up with Albany siblings Ben and Adam Ritchie to offer a blockchain fund for wholesale investors.

DCM operations officer Ben Ritchie said they wanted to give investors exposure to the distributed ledger technology of blockchain but recognised it was difficult for individual investors to manage the buying, selling and security of the digital assets.

He said the technology had world-changing potential and bitcoin was just the first iteration.

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Source: Cryptocurrency craze drives two Perth ventures | The West Australian