Stillmark, a major investor in Lightning Network infrastructure providers Lightning Labs and Voltage, said Thursday it appointed former Google X engineer Vikash Singh as its principal investor.
- Stillmark has so far raised $40 million, specifically for investing in startups that utilize Bitcoin and the Lightning network.
- Stillmark said its first fund was oversubscribed twice over.
- Prior to Google X, Singh spent five years at Heal, a Series D stage health tech company that utilizes artificial intelligence (AI) and deep learning, which he joined at seed stage.
- In an interview with CoinDesk, Singh called Bitcoin a “moonshot” technology that’s a fundamental evolution of financial technology tjat levels the playing field for many people.
- Singh wants Bitcoin to be a “stable base layer for people to be their own bank and be independent.”
- Compared with other cryptos bitcoin (BTC) is a “clear winner in the race for money over the internet,” he said.
- Lightning Labs has been fundamental in El Salvador adopting bitcoin as legal tender and making it available alongside cash as a payment mechanism.
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