Earlier this week, bitcoin wallet operator Blockchain.info purchased bitcoin-related mobile app ZeroBlock. The amount of the purchase was not disclosed. However, ZeroBlock founder Dan Held said the transaction was handled in bitcoin, according to The Wall Street Journal (WSJ).
The acquisition was announced on Christmas Eve. Held and business partner Kevin Johnson sold all of their intellectual property and assets to Blockchain. The two founders kept ZeroBlock LLC's legal identity to themselves, the report said.
In an email, Held told MoneyBeat about the transaction: "Using bitcoin was much easier than wiring the funds through traditional means. It only took about 20 seconds to get confirmation."
Held said they used the US dollar pricing on bitstamp to know the execution price. Then, they converted part of their earnings into US dollars to take care of tax liabilities, the report detailed.
ZeroBlock is a newly launched app that mines and displays bitcoin price quotes from different exchanges. The app features graphs, links to Reddit and other sources, push notifications, and a currency converter, WSJ reported.
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