Venture Capitalist Tim Draper Will Explore Creating an Always Liquid VC Smart Token on the Bancor Platform
Billionaire venture capitalist Tim Draper, a long-time bitcoin aficionado, is taking his second major step into the new world of digital currencies offered by a technology startup. He is contributing to the Bancor Network Token launch and joining the Bancor Advisory Board alongside monetary and open-source technology visionaries including Bernard Lietaer and John Clippinger.
Draper, who has been outspoken about the challenges of liquidity in traditional venture capital, is excited about the potential of the Bancor protocol to democratize to bring continuous liquidity to a new generation of user-generated tokens emerging in the blockchain ecosystem.
“We are beginning to explore the possibility of issuing a VC Token for our diverse network of investors, entrepreneurs, local and global businesses. We’d like for this to be a Smart Token, so it can benefit from continuous liquidity from day 1. We look forward to a long collaboration with the Bancor team on this project, and are excited for what BNT has in store.” Said Mr. Draper, Managing Partner of Draper Associates.
“It is a dream come true for me to work with long-time Silicon Valley pioneer Tim Draper. Growing up in Palo Alto, the Draper family name has been synonymous with both the roots of venture capital in the Bay Area, and also the fruits of innovation. Tim, his family and firm, continuously forge bravely ahead, which is what we are doing at Bancor. We are humbled by this partnership to bring liquidity to all.” Said Galia Benartzi, Co-founder.