Blockchain startup Dirt Protocol just got $3 million from investors including General Catalyst, Greylock, Lightspeed, and Coinbase co-founder Fred Ehrsam.
Dirt Protocol’s goal is to incentivize truth through a token-based voting system.
The company’s founder, Yin Wu, describes it as a blockchain-based Wikipedia.
When Yin Wu, 29, began brainstorming names for her blockchain company, Dirt Protocol, she took the opposite approach of most founders.
“There’s a lot of companies in the blockchain industry that have big, lofty sounding names,” said Wu. “We wanted to do the opposite.”
While “dirt” might conjure to mind a project of unassuming origins, for Wu, it clearly conveys the company’s fundamental purpose.
“Dirt comes from the ground, right?” she said.”It’s foundational. You need dirt to grow.”
Dirt Protocol has vast ambitions for its application of decentralized technology — both business-wise and philosophically.
Its primary goal? Incentivizing truth.
To do so, Dirt Protocol has received $3 million from blue chip tech investors including General Catalyst, Greylock, Lightspeed, and Coinbase co-founder Fred Ehrsam.
Spreading false information would become “economically irrational”
The blockchain has been used to tokenize any number of assets, both tangible and otherwise. But what if you could tokenize knowledge in a way that benefited the most trustworthy information?
“Think of Dirt as a …read more
Source:: Businessinsider – Technology