I invested in EthSystems to make Ethereum private for banks
💸 Today I invested in a new thing:
Ethereum is essentially a public spreadsheet with every transaction being visible for everyone forever
But that makes it impossible to use for banks because it's not private. Imagine you buy something and everyone in the entire world can see it? That'd be never be accepted
So my friend @oskarth has been working on a new thing called @eth_systems that lets banks use Ethereum but while keeping transactions private
Before this he was working for 10 years on stuff like zk-SNARK (math tricks that let you prove something is true without revealing the details) and advising the Ethereum Foundation, he's the most high IQ person I know, so when he started something that's for-profit (after lots of non-profit work) I asked to invest immediately
YC always taught me to invest in people not companies, the companies (and product) can change (and should) and it can pivot into lots of other things, but if you trust the person you can estimate a higher likelihood of it (and your investment) working out
If you like to see what they will make, follow @eth_systems 😊😊😊
If you're looking for investment too
Originally posted on X · 💬 270 replies — add yours
P.S. I'm on 𝕏 too if you'd like to follow more of my stories. And I wrote a book called MAKE about building startups without funding. See a list of my stories or contact me.
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