After raising $150 million from industry investors, Trust Machines hopes to turn the Bitcoin ecosystem into a web 3 platform.
Trust Machines, a new venture co-founded by Stacks inventor Muneeb Ali and Princeton University Computer Science professor, JP Singh, has recently raised $150 million to expand the Bitcoin ecosystem as a Web3 platform., the company noted that its goal is to create the largest ecosystem of BTC-based applications that “unlock Bitcoin’s potential as a final settlement layer for computing platforms and applications.
Trust Machines will be built on the latest success of Ali’s Stacks, a project building smart contract layers on the Bitcoin blockchain to make the ecosystem a platform for Web 3 apps. Per the press release, while Bitcoin remains the largest and most popular cryptocurrency protocol in the industry, other blockchain networks have dominated the rapidly growing NFTs, DeFi, and metaverse space, leaving the asset to be used only as aTrust Machines intends to change that narrative to make Bitcoin a productive, less passive asset, create programmatic demand for it, and grow a dominant ecosystem of cutting-edge apps and technologies on its blockchain across various industries.
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