Polychain Capital to Invest $4M in MyCrypto ETH Wallet

MyCrypto plans to hire a team of developers and designers using the attracted funds to help simplify cryptocurrency operations for beginners
30 August 2018   1283

Ethereum wallet MyCrypto closed the round of financing series A, within the framework of which it attracted $ 4 million from Polychain Capital, CoinDesk reports.

Investors also included Boost VC, ShapeShift, Ausum Blockchain Fund LP, CEO of Mainframe Mick Hagen, and co-founder of the Earn Lili Lou.

According to Taylor Monahan, CEO of MyCrypto, one of the main problems in the industry is the difficulty in buying or completing transactions with cryptocurrencies.

To solve this problem MyCrypto plans to hire a team of developers and designers using the attracted funds. They will help simplify cryptocurrency operations for beginners with the help of an improved user interface.

Right now our team is really all engineers and customer support people and I think we need to build out a team that just advocates for the user more and has a ton of experience in user interface and design. Specifically, I'm looking for experts that don't have a cryptocurrency background to join the team because their strength is outside the space.
 

Taylor Monahan

CEO, MyCrypto

Earlier, Polychain Capital invested in the Tezos. 

dOrg to Become The First DAO With Legal Status in US

DAO is a company in which the centralized leadership and hierarchy is replaced by a smart contract
13 June 2019   176

The decentralized autonomous organization (DAO) dOrg based on the DAOstack framework registered dOrg LLC in Vermont, USA. This was the first precedent in the United States, according to law firm Gravel & Shea.

According to the company, the blockchain-based limited liability company (BBLLC) has a legal status, which allows it to enter into agreements and protect the interests of participants in accordance with applicable law.

Note that a DAO is a company in which the centralized leadership and hierarchy is replaced by a smart contract. Decisions in such organizations are made by voting by the participants, which provides consensus.

dOrg asked us to help design a DAO legal wrapper after discovering the potential of BBLLCs. We believe that dOrg is now the first legal entity that directly references blockchain code as its source of governance. Its material operations and ownership interests are managed entirely on-chain.
 

Oliver Goodenough

Law professor, Vermont Law School and special counsel, Gravel & Shea

dOrg believes that they have made the first step in integrating the DAO format into the existing economy.

Some time ago, Moloch DAO attracted 1000 ETH from Vitalik Buterin, Joseph Lubin, start-up ConsenSys and non-profit organization Ethereum Foundation.