are multiplying. Today, Proof of Capital announced a $50 million VC fund to invest in blockchain technologies using the decentralized, transparent, and secure technology behind cryptocurrencies and other innovations.

The fund’s mission is to build an internet ecosystem that belongs to everyone and ushers in worldwide adoption of blockchain technology.

Proof of Capital was cofounded by Phil Chen (one of the creators of the HTC Vive virtual reality headset and a former partner at Horizons Ventures, currently at . Cofounders include Chris McCann, formerly of Greylock Partners, and Edith Yeung, advisor to 500 Startups.

Above: Edith Yeung, cofounder of Proof of Capital.

Image Credit: Proof of Capital

“The architecture and security of Web 3.0 needs close collaboration between both hardware and software builders,

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