Well-known investor Naval Ravikant hopes to subvert Twitter through the block chain “XPRIZE”


nnnA well-known investor, Naval Ravikant, is an early investor in Twitter and is now preparing to fund innovators to develop a zip chain version that allows users to monetize their original content. The company will also launch a larger investment project through the XPRIZE competition, requiring competitors to create block-chain applications on the Blockstack platform and has set up a fund to support the project.n
nnTranslated by: Inan
nTwitter’s early investor intends to fund the development of the block-chain version of this well-known social platform.n
nAngelList co-founder Naval Ravikant said in a conversation with CoinDesk that he intends to sponsor an award to reward anyone who can develop a “no centralized management” version of Twitter, on which the user will be able to Own original content released by the profit.n
nThis award is part of a new project that will provide financial assistance to entrepreneurs who are trying to create block chain applications on the Blockstack platform.n
nWhile not revealing a lot about the details of the award, Ravikant told CoinDesk:n
nn”I’m really helping the Blockstack team and will offer a small bonus for the centrality of miniature blogging services.”n
nnThe competition on Blockstack will take place in the form of the famous XPRIZE tournament. XPRIZE was founded in 1995 by entrepreneur Peter Diamandis and Google director Ray Kurzweil, aimed at rewarding innovators who solve some of the world’s serious problems.n
nThese rewards require developers to use Blockstack’s tools to create a de-centric application that can drive developers to get funding.n
nOn August 16th, the New York-based start-up company also set up the “Blockstack Signature Fund,” a $ 25 million venture capital fund backed by Lux Capital, OpenOcean, RisingTide Capital, Compound and VersionOne.n

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