Hedge Funds and Venture Capitalists Fund Chinese Blockchain Company
As it stands, Nervos, a blockchain startup in China explained in an interview that many leading figures in hedge funds and venture capitals have invested almost $30 million in the company as a means of increasing the development speed of Nervos’ technology teams, the company’s blockchain services and increase networking through new collaborations.
Among the companies that invested their funds into Nervos included Polychain Capital, FBG, Blockchain Capital and several other leading partners. In an interview on the topic, Polychain’s chief executive officer, Olaf Carlson-Wee stated that the company was interested and optimistic due to the increased traffic in China’s cryptosphere and Nervos has caught their eye through the aim of creating a state of the art blockchain. With a possibility of climbing to the top ranks in cryptosphere and potential for countless opportunities, Ploychain is excited to join efforts with everyone and finance Nervos to continue developing its tech.
Jan Xie, co-founder of Nervos said that current blockchain foundations are not properly equipped for enterprise applications due to multiple concerns including security and enterprise requirements. Decentralized blockchains prefer speed over security, favoring accelerated transactions while public chains focus mostly on security.
Xie stated that despite the clear and evident benefits for enterprise blockchains to continuously develop and upgrade current systems, its acceptance has been hindered by several issues including security measures, difficulty in usage and scalability. The large investment will skyrocket the company’s development aimed at cheaper blockchain integration and creation.
Jan also stated that Nervos can address the current issue through an intricate design including a protected public blockchain and an enhanced function chain. While supporting both of these chains, the company can release new and improved blockchain services.
500 Startups China’s lead executive, Edith Yeung spoke about how the startups team is the best China has to offer in technology expertise and involvement in several top blockchains and companies such as Ethereum has resulted in unparalleled innovations in the BC environment.