ICO encountered VC: Blockstack to the center of the Internet fund financing 25 million US dollars


nnnBarstack set up a risk fund project Blockstack Signature Fund, only for active venture capitalists to finance. Develop a plurality of block chains that can be used by the protocol layer and through a specially developed de-centric browser to view these block chains from any device at once. For the venture capital and block chain developers to build a bridge, but also for ICO financing. And the establishment of similar XPRIZE block chain development awards, is expected to get investor support.n
nnTranslation: Annie_Xun
nAlthough ICO has quickly become a breakthrough in block chain financing, at least one industry start-up believes that traditional venture capital can also participate in this new economic movement.n
nNew York, Blockstack will launch a $ 25 million venture capital fund, the purpose is to open a new to the central version of the Internet. But more important than the capital is the whereabouts of funds. Unlike many ICOs that finance retail, the Blockstack Signature Fund will only target active venture capitalists.n
nSo Blockstack co-founder Muneeb Ali’s position on the fund is to gather the way to centralize app developers and venture capital communities.n
nn”We Blockstack build this channel between the app developer and the venture capital, so that developers can contact these investors, get their feedback, and may get their financial support for the app.”n
nnThe fund is supported by venture capital firms Lux Capital, OpenOcean, RisingTide Capital, Compound and VersionOne.n
nEach company has provided resources to the fund and will assess the opportunity to invest in the company’s various projects through investment. At present Blockstack will not publish the expected average investment size of the fund, but the participants predict that the equivalent of the traditional A round of financing.n
nn”We believe that traditional venture capital has its own position, as with these new financing methods, is a very important part of this ecosystem.”n
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nWhen ICO is in progressn
nHowever, this is not to say that the company deliberately avoided the ICO strategy.n
nBlockstack, which was established in 2013, currently raised $ 5.45 million in venture capital to build a de-centric protocol layer on multiple chain chains, including Bitcoin, Ethernet and zcash.n
nAll the tools of the company are similar to Apple’s app developers, coupled with the recently released founder of Netscape compared to the center of the Internet browser, Blockstack hope that many distributed books can be integrated into the same layer, you can easily Browse in any device.n
nBut in order to continue to promote, Blockstack plans to further through the ICO financing, selling its own encrypted currency, for the other will use its platform app to create precedents.n
nn”When we feel that the platform is complete and we can provide this platform for some developers, you will see something similar to the ERC-20 on the Blockstack platform, but we believe that the future platform will be more complete , Easier to use in the production phase. “n
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nBlock chain “x-prize”n
nBlockstack also revealed that it is currently launching an early stage of the award, imitating the well-known entrepreneur Peter Diamandis and Google director Ray Kurzweil to create XPRIZE to encourage the development of positive technology for the benefit of mankind.n
nAlthough the original XPRIZE participants have developed everything, including the space travel solution to Star Trek (Star Trek) to stimulate the medical device, Blockstack’s “x-prize” will focus on encouraging developers to build some of the longest promised solutions , Including to the center of the push to the center of the publishing platform.n
nInvestors who support the award will be announced in the future, but Ali hints that Blockstack’s two most famous investors may be interested.n
nn”Some well-known investors are willing to set these awards for some app, we are very excited, but we are still determining the details.”n

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