Pop Star Meets Blockchain
In a surprising twist of fate, the legendary British pop icon Peter Gabriel has decided to shake things up in the tech world by investing in Provenance, a blockchain startup. This tidbit came in hot off the press on July 18, although the exact amount of Gabriel’s investment remains a well-kept secret—perhaps even more mysterious than the lyrics to ‘Sledgehammer’.
Who Are the Players?
Gabriel isn’t going solo on this venture; he joins a star-studded lineup of investors, including Working Group Capital Fund, Digital Currency Group, Merian Ventures, and Plug and Play. Clearly, the block (chain) party is in full swing, and with Gabriel’s backing, Provenance is looking to amplify their product offerings.
Making Transparency Tasteful
The mission of Provenance is ambitious yet incredibly timely. The startup aims to usher in an era of transparency in food transportation by using the sophisticated magic of blockchain technology. Imagine a world where you can track your avocado’s journey from a sunny Californian orchard straight to your brunch plate. With the funds from Gabriel, Provenance plans to deploy its blockchain-based application among a whopping 1,000 food and beverage businesses by 2025.
Gabriel’s Vision for the Future
Gabriel shared his thoughts on the importance of Provenance’s mission, stating, “We need to be able to trust the source and distribution chain, particularly when it comes to guaranteeing that things are produced ethically and in an ecologically sound way.” This snaps back to a reality check—because who doesn’t want to know if their food sources are as ethical as they are tasty? He believes that Provenance’s offering will not only help consumers but also provide a fair platform for smaller producers to compete against beefy Big Food.
A New Leadership Era
In addition to Gabriel’s investment, Provenance is making some exciting changes at the top. The newcomer to the board will be Alexsis de Raadt-St. James, the founder and managing partner of Merian Ventures, who takes on the role of Chairperson. Also joining the party is Chemain Sanan, a partner at Working Capital, now stepping in as a director. Because let’s face it: if you’re going to tackle the big beasts of transparency, you better have a solid team.
Bitcoin: The Future or Just a Fad?
As if the news couldn’t get more electrifying, Barry Schubert, the CEO of one of Provenance’s investors, Digital Currency Group, shared his bullish views on Bitcoin. He stated that he thought the cryptocurrency “has hit the bottom for the year.” Last week, Schubert even dived into the Bitcoin waters, echoing confidence that “a decentralized, non-fiat form of money is here to stay.” Looks like it’s time to either catch the crypto wave or get left behind in the tide.
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