Blockchain start-up Intangible Labs has attracted several investors to the pre-sale of its digital currency basecoin, according to Intangible Labs CEO Nader Al-Naji. The company is seeking a total of $700,000 in funding from investors, including venture capital firm Andreessen Horowitz, which invested in Bitcoin startup Coinbase last year. Reporting by Gertrude Chavez-Dreyfuss The firm, founded by Princeton graduates Al-Naji, Lawrence Diao and Josh Shen, is developing a stable digital currency which operates in the same way as the federal reserve, a concept based on Al-Naji's blog post about a cryptocurrency which could shrink and grow its supply.
Blockchain start-up Intangible Labs has attracted several investors to the pre-sale of its digital currency basecoin, according to Intangible Labs CEO Nader Al-Naji. The company is seeking a total of $700,000 in funding from investors, including venture capital firm Andreessen Horowitz, which invested in Bitcoin startup Coinbase last year. The firm, founded by Princeton graduates Al-Naji, Lawrence Diao and Josh Shen, is developing a stable digital currency which operates in the same way as the federal reserve, a concept based on Al-Naji's blog post about a cryptocurrency which could shrink and grow its supply.