Dfinity appeared in 2018, amid the flurry of investments in the blockchain space, It raised $102 million in funding at a $2 billion valuation in a round jointly led by Andreessen Horowitz and Polychain Capital, along with other investors including KR1. I must admit that at the time it appeared to all intents and purposes as if it would be yet another attempt to replace Ethereuem. Or at least something similar. But then something odd happened. It started behaving like an actual software company.

In January this year it didn’t talk about blockchain at all, but instead demonstrated an open social network called “LinkedUp” sort of open version of LinkedIn. The demonstration didn’t go live and technically-speaking it was under-whelming until you realized it wasn’t running or any server, and performed faster than a

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