You are here

What that $50M ConsenSys venture fund means for cryptocurrencies, and for Brooklyn

Other Brooklyn venture capitalists think it could help the startup ecosystem here.

The new, $50 million venture fund dedicated solely to blockchain startups will bolster the volatile world of cryptocurrency, but it might have even more impact in making Brooklyn a center of the blockchain world.

The fund belongs to ConsenSys, a blockchain application studio led by one of the creators of the Ethereum blockchain, Joseph Lubin.

“Joe wants to explore every possibility to extend the ecosystem, to have entrepreneurs from all over the world come on the blockchain space,” explained the fund’s founding managing partner, Kavita Gupta, who was kind enough to talk to us while running late for a flight after traffic in the Lincoln Tunnel. “You are doing a business, so of course you want to make money … it’s not a foundation. But the reason we’re investing with a deep focus on the blockchain world is that we do think the blockchain will impact every aspect of our world.”

Read Complete Article