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Monday, May 10, 2021
Home News ChainLab Gets Investment from Bitmain to Accelerate Blockchain Innovation

ChainLab Gets Investment from Bitmain to Accelerate Blockchain Innovation

ChainLab, developer of Wings, a decentralized network for creation, participation and management of Decentralized Autonomous Organizations (DAO), announced today a strategic undisclosed seed investment from Bitmain Technology, the world’s largest bitcoin hardware mining producer. The funds will be used to advance the development of Wings platform prior to the Wings DAO launching, which is expected to occur by the end of Q2 2016.

Jihan Wu, Co-Founder of Bitmain noted:

“Bitmain invested because we see a great team and we look forward to seeing Wings grows into a successful platform for launching DAOs over Rootstock and Ethereum, being an accelerator for the innovation on the public Blockchain.”

Wings is the first multi-Blockchain, Smart Contract based platform for DAOs. The novel system is realized by the integration of Ethereum smart contracts network, the RootStock Bitcoin Virtual Machine (RVM), InterPlanetary File System (IPFS), and 3rd party chat and instant messaging networks.

Regarding the investment, Sebastian Stupurac, CEO of ChainLab said:

“Bitmain showed great interest in the team, thus placing their trust in the identified human potential and experience behind ChainLab. The seed investment in the company followed soon after and it has played an important role in our evolution.”

 

ChainLab was founded by three Blockchain enthusiasts: Stas Oskin, Sebastian Stupurac, and Boris Povod; The team has prior extensive experience in Blockchain projects and has made it its mission to create scalable, independent and corruption-free solutions for real world problems using Blockchain technology.

The team at ChainLab is currently focusing on creating a public Proof of Concept of the Wings that will showcase the team’s vision of how the creation, participation and management of DAOs should be an effortless and intuitive process, convenient and accessible to all.

Wings will enable anyone with a smartphone to participate in DAOs. With the platform, launching and participating in DAOs becomes quick and intuitive as no smart contracts or coding knowledge is needed. Wings enables this by hiding all the complexity within a conversational user experience of decentralized artificial intelligence chat bots that interact with DAO creators. For DAO members, on-the-go DAO participation and management is realized through the use of the same chat bot interface in popular messaging applications.

Subscribe to the Wings newsletter at https://www.wings.ai and be the first receive news of the upcoming release of the Wings white paper.

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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