Bitrefill: About the Platform
Bitrefill is currently the largest existing e-commerce company that works solely with cryptocurrencies.
They have recently joined an open source consortium-style initiative of bitcoin industry players, Spectrum. The alliance members include Bitfinex, Poseidon Group, Fulgur Ventures, BHB Network, Chainside, and inbitcoin.
The group is working towards developing a protocol for cryptographically-secured digital assets on Bitcoin’s Lightning Network.
Spectrum uses the “colored coin” standards anchored to bitcoin to implement the issuance of tokens on bitcoin. This type of tokenization would complement sidechain tools and lighting network cross-currency swaps on bitcoin.
The colored coins standard is still much simpler than the ethereum-based token implementation, which is extremely rich on features by default. This would in turn contribute to the growing distinction between the use of ethereum as a blockchain technology platform with main focus on smart contracts, and the use of bitcoin as a payment solution.
The Business Intelligence for Bitrefill
Bitrefill is a Swedish company based in Stockholm, currently operating mainly in the EU.
In June 2019, Bitrefill closed a 2MM USD late seed round lead by Coin Ninja with participation from Charlie Lee, Fulgur Ventures, Bnktothefuture and others.
The purpose for raising these funds was to grow Bitrefill globally.
Not surprisingly, following the June seed round closure Bitrefill started hiring for many diverse roles.
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