Unknown Fund Will Allocate $75 Million for the Development of Privacy on the Internet

November 14, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The Unknown Fund, organized by a group of anonymous investors, invests and donates $75 million in Bitcoins to startups whose work is directly or indirectly related to solving privacy problems.

According to the announcement on the Unknown Fund website, priority will be given to startups operating in four areas: protecting personal data, creating tools for anonymous surfing the Internet, cryptocurrency and blockchain.

The organizers of the fund call the protection of personal data one of the main problems of our time. As examples of manipulation, they point to the impact of social networks on the campaign around Brexit and the US presidential election.

“Now the main goal of large corporations is to collect as much information as possible about the personal lives of people, and then use it for their enrichment. And they do a great job of it by making ordinary people get poorer. We are ready to fight for change and protect people.”

Unknown Fund intends to provide direct investments to commercial enterprises, while donations to non-commercial organizations. The site contains an email address through which interested startups can contact the organizers.

“Investing is just the beginning. Anonymous have developed a number of strategies and methods that will be announced later […] We will continue to fight as much as necessary to achieve our goal,” the announcement says.

Author: Marko Vidrih