Tuesday, May 01,
2018 08.17AM / First Digital Capital
First Digital Capital, the Australian
blockchain investment manager, today announced it had retained blockchain
co-inventor W. Scott Stornetta, Ph.D. as Chief Scientist and established
presences in New York, Geneva, London and Hong Kong.
First Digital Capital was founded in
2017 by a group of Australian investors, fund managers and entrepreneurs.
Chairman, Deryck Graham said the firm would be the first of its kind in
Australia.
“We are headquartered here but we are
‘local globally’, having established ourselves in or around the key centres of
blockchain fund activity,” he said. “When our first fund opens in the next few
months it will be the first fund of its kind open to Australian investors,
offering a regulated, professionally managed portal into the blockchain world.”
Dr. Stornetta, along with his
colleague Stuart Haber, authored the core set of papers that form the
foundation for the blockchain. Nearly half of the citations in the
original Bitcoin paper by the pseudonymous Satoshi Nakamoto are references to
their work.
“Blockchain will be disruptive for
many industries. What we have seen to date is just the opening act,”
he said. “From ICOs competing with traditional venture capital firms to the
Australian Securities Exchange switching to blockchain-based settlement, the
democratization of trust and transparency will have far-reaching consequences.”
Dr. Stornetta will work alongside
First Digital Capital’s fund management leadership to vet potential investments
and provide insight into the underlying applications.
“Blockchain is spoken about by many,
understood by a few, but well executed by only a handful,” he said. “Deryck is
building a great investment team. To fully grasp the space and capture value
for our investors, we will now complement his work by assembling a world-class
research team. There will be some surprises there, so stay tuned.”

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