Tim Draper, a well-known venture capitalist, has invested in the VeChain Chinese blockchain platform through a dollar fund, reports the Chinese edition of Bridge.
Despite the news, the VeChain cryptocurrency curve falls against the backdrop of a general decline in the cryptocurrencies market.
In 2014, Draper, a venture capitalist with a billionth state, which he earned partly thanks to his early investments in Skype, bought at the government auction 30,000 bitcoins confiscated from the Silk Road Market Places.
In addition, Draper invested in projects such as CoinLab, VerifyBTC, BitWall, etc. Also, Draper’s name was featured within the cumbersome history of ICO Tezos.
Last year, the capitalist said that in five years, fiat currencies would completely come out of circulation:
“We live in a rapidly changing world, and the emergence of a blockchain will change every aspect of our lives just as the Internet has changed the world.”
VeChain provides a suite of solutions on the blockchain to work with information and products tailored specifically to the needs of specific industry and customer. In 2016, the startup introduced the first version of its product.