Trust Machines, a new business developed by Stacks inventor Muneeb Ali and Princeton University Computer Science professor JP Singh, recently raised $ 150 million to expand the Bitcoin ecosystem based on the Web3 platform.
In a press release, the company noted that its goal is to develop the largest ecosystem of BTC-based application that “locks Bitcoin capabilities as the final layer of litigation. suitable for interviews and applications. “
Trust Machines will build on the new success of Ali’s Stacks, a project that builds on the smart contract process of the Bitcoin blockchain to make the ecosystem a platform for Web 3 applications.
According to media reports, while Bitcoin is still the largest and most popular cryptocurrency protocol in the market, other blockchain networks have dominated DeFi sites and decentralized applications, leaving the device reserve is only used as a store of value.
Trust Machines intends to change this description to make bitcoin more profitable by creating programmatic needs for it and creating an important ecosystem of the use and application of its technology. blockchain across multiple industries.
Advising on fundraising, Ali says:
“With the original design, it is time to focus on opening up the next level of apps and technology platforms in Bitcoin, improving the platform to speed, scale and operate, and make Bitcoin apps are true for hundreds of millions of users.
That is why we started Trust Machines, and with the support of our excellent customers, we are excited to make this a reality. “
Trust Machines has received investments from major investors in the industry including Financial Institutions, Breyer Capital, Hivemind, GoldenTree, Union Square Ventures and more.
Jim Breyer, founder and CEO of Breyer Capital, said:
“We believe that Bitcoin can do more than just store value; it can also be a platform and platform for Web 3.
Muneeb and JP have already achieved a lot by making Bitcoin programmable with users such as loan applications and DAOs.
We are proud to support Trust Machines and their role in helping Bitcoin reach its full potential. “
Meanwhile, Ali announced that the company now has more than 15 job openings for Bitcoin developers who want to join their team and work towards achieving Trust Machines goals.
What do you think about the project? Leave it in the comments below.
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