Today, we are excited to announce our investment in Bram Cohen, Ryan Singer, and their new project Chia Network. The company is focused on improving cryptocurrency infrastructure and making a digital currency that is less wasteful, more decentralized, and more secure by building a blockchain based on proofs of space and time.
We were introduced to Bram by Steve Russell, whom we worked with on Ring’s board. Bram was an early employee at Mojo Nation before inventing the BitTorrent protocol, one of the most widely adopted and successful P2P protocols.
Over the course of his career, Bram has received a number of awards including being named one of Time’s 100 Most Influential People and one of MIT Technology Review’s Innovators Under 35. Prior to Chia, Ryan co-founded Tradehill, an early Bitcoin exchange platform; CryptoCorp, a multi-signature security company; and Blockchain Clearing, a securities clearing technology company.
As Founders with long-term ambition and a distinct vision for Chia, Bram and Ryan are great examples of the type of industry leader we at True love to fund and follow into the future. They are highly creative and contrarian, demonstrate deep expertise, and are on a mission to lay stronger groundwork for an emerging market in which we see great promise.
Welcome to the True community, Bram, Ryan, and team Chia!