World News: 14:00 GMT Thursday 6th December 2018. [Storecoin via Globe Newswire via SPi World News]
SAN FRANCISCO, CA, Dec. 06, 2018 (GLOBE NEWSWIRE) -- (via Blockchain Wire) Zero-fee cryptocurrency Storecoin has announced the participation of two new investors, AlphaBit Digital Currency Fund and Data Collective Managing Partner Matt Ocko.
Storecoin is building the zero-fee, programmable payments infrastructure for the public internet. The cryptocurrency is designed from the ground up for use not only by speculators, traders and investors, but by today’s biggest enterprises. In particular, Storecoin has designed a decentralized governance of checks and balances designed to inspire confidence among those major economic actors. These new investors represent a major boon to $STORE’s aim to become the internet’s reserve, zero-fee currency.
“AlphaBit has been very helpful to our team in navigating the global cryptocurrency ecosystem,” said Storecoin creator Chris McCoy. “They’ve made multiple introductions at pivotal moments in our journey, which have resulted in significant long-term leverage for our project.”
AlphaBit CEO Liam Robertson said, “AlphaBit is excited to be invested in Storecoin, a project boasting an incredibly talented team and fascinating approach to market governance under a digital constitution.”
Storecoin’s governance system was also a major attractor for Ocko, managing partner for Data Collective, who invested independently.
“Cryptocurrency is an essential tool for disinter mediating oppressive rentier financial systems and their captive, asleep-at-the-switch regulators … but crypto that feels understandable and usable to ordinary people relative to their experience with US dollars … is really needed for the global middle class to truly support crypto,” said Ocko. “Storecoin is the only cryptocurrency I’ve seen that has the durable mechanisms and governance that one would expect of a mature global reserve fiat currency, while simultaneously addressing inflation concerns.”
The Storecoin team’s respect for Ocko and his experience go back years. Said McCoy of Ocko, “He and I have been discussing the potential of blockchain-based payments in the web layer as far back as 2014. As attack surfaces on public blockchains grow, Storecoin will benefit from Matt’s knowledge and network. He’s the perfect Silicon Valley VC to invest in (and advise) Storecoin!”
Globe Newswire: 14:00 GMT Thursday 6th December 2018
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