OpenNode Completed A Seed Investment Spherical From Venture Capitalist ‘Tim Draper'.

OpenNode Completed A Seed Investment Spherical From Venture Capitalist ‘Tim Draper'.

2018-12-20 | Mike Hallen

OpenNode Completed A Seed Investment Spherical From Venture Capitalist ‘Tim Draper'.

In line with a recent 'announcement' published, A renowned Bitcoin [BTC] payment processor ‘OpenNode’ has completed a seed investment spherical with investment from American Capitalist ‘Tim Draper.’

Founded back in April this year, OpenNode is a multi-layered Bitcoin payment processor for merchants developed by a bunch of Lightning Network designers and Bitcoin developers, that aims to boost and alter the employment of Bitcoin [BTC].

In line with the 'announcement', OpenNode has raised funds from Tim Draper and early stage venture capital corporate  DraperAssociates. The startup plans to pay the funds on scaling the team and building the network. Monetary details relating to the investment haven't been yet disclosed.

Draper — a vocal Bitcoin advocate — shared his vision for blockchain-based digital govt. in the month of May this year. He said that blockchains utilizing smart contracts in collaboration with AI [Artificial Intelligence] can massively modify the role and responsibilities of states.

Adding further, he said:

"If we mix Bitcoin, blockchain with smart contracts and AI, we may produce the proper bureaucracy.”

While speaking at the web Summit conference earlier in nov. this year, Draper questioned the necessity for fiat currencies, or “political currencies.” In Draper’s vision, banks issue cash “whenever they desire it for whatever reason they need,” and also the emergence of a “totally unpolitical,” global, and open currency would cede management of cash from banks to individuals.

As per the report revealed by the analysis firm ‘Diar’ in September, “traditional” capital investment in blockchain and crypto corporations virtually tripled within the 1st three quarters of 2018. Blockchain and crypto-related corporations reportedly raised virtually $3.9 billion’s in venture capital by that time period which is roughly a 280 p.c hike, compared with last year.

Yesterday as per a news 'published' by EtherDesk stated that Tagomi Holdings Inc., an electronic brokerage startup backed by PayPal co-founder Peter Thiel’s capital firm Founders Fund among several investors. Tagomi reportedly raised $16 Mln.

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