ConsenSys chief strategy officer Sam Cassatt announced he will be stepping down from his function to launch a new venture fund with the help of the founder of the company Joe Lubin. Consensys said that Cassatt will stay on the Ethereum venture studio in its advisory capacity so let’s find out more in the blockchain news today.
During the TransTech conference in San Francisco, Cassatt explained that his fund aims to raise up to $50 million for its first round and aligned with the focus on emerging technologies including artificial intelligence, cryptocurrency, healthcare, and blockchain according to his statements. In a blog post that was published on Friday, Cassatt explained that the fund is designed to ‘’anticipate civilization-scale evolutionary changes in human behavior.’’
Backing Aligned will be DARMA Capital managing partner Andrew Keys which is a former Consensys executive. The amount of Lubin and Key’s capital participation is yet unknown to the public. On the other hand, totally different from the company, the ConsenSys chief strategy officer Cassatt is looking to apply some similar principles that were employed by his former company as Cassatt stated. While Aligned is still in its early days, Cassatt explained that he is looking to tackle societal issues such as safe AI (artificial intelligence) and the digital age:
“Not only [are we] looking for that societal change, but [we are] noticing that institutions … are no longer serving their purpose,” Cassatt said. “I think we are at a crisis point.”
Joining Aligned Capital will be Nichol Bradford who is the executive behind the Transformative Tech Lab that organized the event in San Francisco. Nicholas Paul Brysieweics who is the director of the development at the long now foundation is also listed as an advisor from a company that is best known for its entity building the 10,000-year clock inside a mountain in Texas. Cassatt later gave his opinion on the partnerships and the future of the project by saying:
“You can come up with a lot of things as to why something would make some money. We are looking at where there are these momentous stepwise changes.”
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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