Venture Capital Firm Looking to Privacy and Interoperability Solutions for Blockchain Technology
500 Startups is currently looking for more blockchain-based projects focused on solving interoperability and privacy issues. Bonnie Cheung, the venture partner at the firm, believes that these are two key challenges preventing the mass adoption of blockchain technology.
Speedy Infrastructure
n April 2018, for their Seed Accelerator, they backed Metadium, a platform that provides the infrastructure for providers to develop a business on the blockchain, and Solana, a high-performance blockchain that can run over 700,000 transactions per second (tps).
In an interview with China Money Network, Cheung outlined her beliefs on the blockchain industry, the challenges it faces before mass adoption, what the best investment opportunities and significant trends in the industry, and how 500 Startups makes investment decisions when it comes to blockchain projects.
Blockchain Participation
Cheung mentioned that 500 Startups is focusing on three critical areas in the blockchain industry which include scalability, inter-chain operability, and privacy.
Scalability remains a significant problem for the industry because “if you look at transaction throughput, Visa can do an average of 2,000 transactions per second,” said Cheung. “Paypal can do around 500, but Bitcoin is about seven transactions per second, and Ethereum maxes out at 50.” Cheung believes that the industry remains quite underdeveloped when …
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