KR1, a digital asset investment company eager to help build blockchain projects, has recently announced that it will be investing in four new investments including the Dfinity Project, the Flying Carpet Project, Connext Inc., and lastly, Blocksmith Ltd. Why choose these particular four? The following is a breakdown of each investment made, along with statements made by KR1.
The Dfinity Project
The Dfinity Project is a blockchain supercomputer that aims to host the Cloud 3.0. Ultimately, the goal appears to involve bringing together decentralized networks which will form a computer that is limitless. A self-governing algorithm is in the works called the “Blockchain Nervous System”, which can protect users from system crashes and unwanted attacks. Based on the team involved, the entirety of this project is to redefine the internet – Internet 3.0.
As for KR1’s investment, the company has contributed GBP593,000 for a total sum of 191,681.85 Dfinity Network Tokens (DFN). Director of Communications at Dfinity, Arthur Falls appears to be excited to have KR1 support their endeavors.
Falls also praised the team saying,
“the KR1 team has been invaluable in the facilitation of events in London, and their generous capital contribution was greatly appreciated.”
The Flying Carpet Project
Air Network LTD, a communication system based on the Ethereum blockchain, is responsible for the Flying Carpet Project. KR1 supposedly invested USD$100,000, however, information as to how much the company received in Nitrogen tokens (NTN) are yet to be disclosed. As for the project itself, the Flying Carpet is a peer-to-peer decentralized autonomous services network that works towards incentivizing participation, while ensuring communication among IoT devices.
KR1 also invested USD$50,000 into Connext Inc., in exchange for 10 per cent. Connext is described as a layer two scaling platform that permits Ethereum projects to undergo “lightning fast transactions for its users.” Simply put, Connext allows users to “use a state channel hub”, which will serve as a layer on top of blockchain, being Ethereum in this case.
This method will hopefully minimize transaction fees, secure funds and exchanges will be done by signing a state update. As for its uses, the team involved believes that Connext can come in handy for content payments, peer-to-peer marketplaces, IoT interactions and decentralized exchanges.
KR1 managed to get another 10 percent, but this time of Blocksmith Ltd for a total of GBP50,000. Blocksmith appears to focus on helping crypto fanatics create crypto-based products and exchanges to one’s desire. In the case of exchanges, Blocksmith’s goal will be to ensure that security in on par when it goes live. Similarly, the company will be helping out with wallets, smart contracts and payment gateways.
CEO of KR1, George McDonaugh appears to be thrilled with the investments made, as he supports not only the projects at hand, but also strongly believes in the teams behind them. McDonaugh also shared the role KR1 continues to play in such projects and trusts that KR1’s “global network and experience can be of benefit.”