19.01.2021

Tim Draper Joins Board of Directors at EOS-Based DApp Firm

Draper commented on the appointment in a MakeSense Labs press release on Sept. 9, saying, “I am excited to support this amazing application. Sense.Chat improves human connections by allowing private, seamless messaging and payments.”

Tim Draper, a famous investor with an estimated crypto net worth ranging between $350 million and $500 million, joined the board of directors of EOS-based decentralized application (DApp) firm MakeSense Labs.

A notable investor

Per the release, Draper was an early investor in the firm’s parent company Sensay. Sense.Chat chief technology officer Ben Sigman commented on the development:

“We are very excited to have Tim’s support and advice. He’s been a massively important and pivotal figure in technology, and recently in the blockchain. He’s everything we want to emulate in our leadership – he’s creative, supportive and passionate.”

According to his Cointelegraph People page, Draper has been included in Worth Magazine’s 100 Most Powerful People in Finance list, and the Forbes Midas List.

Blockchain messengers

Status.Im, an Ethereum light client, DApp explorer and messenger launched its alpha version in January 2017. The company released what it claims to be the first chat and video messenger with an integrated digital wallet in March. The software is now available on both Android an iOS.

In June, data from the research wing of crypto exchange Binance showed that the vast majority of DApps for finance are made on the Ethereum network.

As Cointelegraph recently reported, encrypted instant messaging service Telegram has released the explorer and node software of the test version of its Telegram Open Network, the blockchain to which the firm intends to transition its service.

Bitcoin Deposited in Bakkt Warehouse Protected by $125M Insurance

All Bitcoin deposited at the Bakkt Warehouse is protected by a $125 million insurance policy, the company announced Sept. 9. Bakkt started accepting deposits and withdrawals Sept. 6, ahead of the proposed launch of its futures products on Sept. 23.

Everything running smoothly, and now with added protection

It took Bakkt a lot of time and effort to gain regulatory certification for its upcoming daily and monthly physically-delivered bitcoin futures products. However, since approval was given things has been full-speed ahead.

Bakkt revealed a product launch date of Sept. 23, and announced that deposits in its freshly-certified custodial warehousing solution would begin on Sept. 6. Sure enough, this happened as planned.

News of the insurance policy covering client deposits, removes yet another concern for the institutional investors that Bakkt hopes to attract.

All systems prepared for launch

If the launch is successful on Sept. 23, it will be the first bitcoin futures platform offering a physically-delivered product, which means institutional investors will be trading with actual Bitcoin.

Existing futures products from the Chicago Mercantile Exchange are cash-settled, whereas Bakkt clients will receive payment in Bitcoin once the futures contract expires.

cointelegraph.com

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