MOUNTAIN VIEW, Calif. - April 1, 2018 – Dremio, formerly known as “the self-service data company”, today announced a change in its business model to take advantage of the extreme – and increasing – demand for assets that are not imaginary.
To maximize returns for its investors and executives, the company has announced it will create and monetize a new “physical cryptocurrency”, the DremCoin.
“For many, many months, nerds have exchanged long strings of encrypted values in order to obtain goods and services,” said CEO, Tomer Shiran. “We aim to shatter this paradigm with a new type of ‘physical bitcoin’ that anyone can use.”
Built for a decentralized system of keeping and exchanging monetary value, DremCoin will promote an ecosystem based on distributed asset holding. At its core will be ‘physical wallets’ – actual, real-world versions of the cryptocurrency wallets used today.
“In some ways, this ‘physical bitcoin’ will function very similarly to a cryptocurrency ‘token’, powering a decentralized system designed for the measurement, registration, transaction, and settlement of transactions,” continued Shiran. “The advantages of a ‘physical token’ are many, including instantaneous transactions, an easy-to-understand security model, and existence.”
Dremio anticipates an almost infinite number of uses for the new ‘physical bitcoin’. Users will be able to pay for goods and services instantly, without transaction fees or special software. The company envisions a future where toll booths, vending machines, and jukeboxes can be programmed to accept DremCoin in place of cryptocurrency.
“For more than five months, investors have demonstrated a strong interest in cryptocurrency, with Bitcoin up almost 400% between September 18 and December 11 of last year alone,” said venture capitalist Barry Eggers.
“With a stellar team of Silicon Valley veterans, well-versed in handling imaginary money, Dremio is the first company to solve the challenges of this market with their groundbreaking new paradigm.”
About Dremio
Dremio is reimagining currency for the modern world. Created by veterans of open source and big data technologies, Dremio is a fundamentally new approach that dramatically simplifies and accelerates time to payment. For more information, visit www.dremio.com.
