The famous investor and cofounder of PayPal, Peter Thiel, participated and invested funds in a round of financing organized by the technology company Blockchain Layer1.
The financing round aimed to raise USD $ 2.1 million and had the participation of important representatives of the industry, among which was Digital Currency Group, investor Jeffery Tarran, and others.
Layer1 is an investment platform in crypto, as well as an infrastructure provider for cryptocurrency engineering and protocols. Among the interests of the operating company are those projects associated with “the development of programmable money and the Internet of value”, which have great potential in the face of current needs.
In this regard, the co-founder of Layer1, Alexander Liegl, commented:
Digital currencies, such as open source protocols, offer an unprecedented opportunity for companies to add value in a meaningful way. This is fundamentally different from the possibilities offered by traditionally known cryptoactives.
The firm said it is deeply involved with a cryptocurrency called Grin, whose properties are focused on the privacy of operations and will be launched by January 15, 2019. According to a company employee, Layer1 has plans to mine several currencies digital, including Grin within the list of available options.
This is not the first time that Thiel has invested in a cryptographic services company. In May of this year, the PayPal co-founder invested an investment for Tagomi Systems Inc., a startup whose goal is to serve as a broker to optimize high-value operations with BTC balances for clients that handle large amounts of capital. Tagomi officially launched his platform earlier this week.
Also published on Medium.