http://bits.blogs.nytimes.com/2013/06/27/silicon-valley-luminaries-bet-on-clinkle-a-payments-start-up/?_r=0"Clinkle, a new mobile payments start-up, may or may not have succeeded where so many other efforts have fizzled by inventing a practical way to replace credit cards with smartphones. It’s hard to say, though, since Clinkle won’t say much about how its system works.
But a prominent group of Silicon Valley investors who do know what Clinkle is cooking up are acting as though it has achieved a breakthrough. On Thursday, Clinkle announced that it had raised $25 million in early financing from Accel Partners; Andreessen Horowitz; Intel; Intuit; Marc Benioff, the chief executive of Salesforce.com; Peter Thiel, the co-founder of PayPal; and a long list of other investors with technology industry pedigrees."
I've read through a few articles and personally, I can't fathom why a smartphone wallet app is worth $25m in seed stage funding. I searched around on the forums and couldn't find a single mention.
Thoughts about how this could relate to Bitcoin? Is this "the" wallet system that end users will embrace en masse and something that will rely upon Bitcoin infrastructure? Or is it a competitor?
