Polkadot creator Robert Habermeier has turned out to be the most recent cryptocurrency creator to earn an esteemed fellowship from the Thiel Foundation, which was established by PayPal co-founder and bitcoin bull Peter Thiel.
Every year, 20 to 25 entrepreneurs under the age of 23 are awarded $100,000 over a two-year period by the Thiel Foundation. The foundation urges its fellows to drop out of school and achieve their dreams, offering guidance and support. Allyson Dias, director of the Thiel Foundation, noted “College isn’t for everyone, and it certainly isn’t for everyone fresh out of high school. Young people learn best by doing things in the real world.”
Out of the 20 chosen this year, four are working with blockchain- Aparna Krishnan, Axel Ericsson, Daniel Ternyak, and Robert Habermeier. A respectable former recipient in the blockchain industry is Vitalik Buterin, co-developer of Ethereum. The firms established under the foundation’s sponsorship are claimed to be worth $3 billion.
Dias is confident that Habermeier has an important role to play in the future of cryptocurrencies, and equally so is the project he is part of- Polkadot, a Parity project. The team is creating a diverse multi-chain technology which is expected to solve issues affecting blockchains including security, scalability, and interoperability.
This network will bring together the various tokens, smart contracts or any application, making it possible for a free-flowing communication between other blockchains.
Parity Substrate is the foundation for the Polkadot project. According to Habermeier in a video, the framework can be used to write any sort of blockchain, as a result of Parity’s earned experience working with various clients, the framework is expected to assist users to develop new blockchains easier and more automatically.
The Executive Chairman of the Thiel Fellowship, Jack Abraham, said, “The environment for entrepreneurs is the best it’s ever been. This year’s class proves that there’s still a hunger for individuals seeking unconventional approaches.”
Krishnan is the CEO and co-founder of Mechanism Labs, an open source research lab- supposedly the first in the world. His project is making use of crypto economics to solve various issues relating to blockchains, namely alternative consensus and incentive design.
Ericsson who is from Stockholm, Sweden is the developer of Vest. The firm is working on a software for Ethereum and other blockchains which give users the opportunity to earn interest on their cryptocurrencies.
Ternyak is representing MyCrypto, where he acts as the CTO. His firm is alleged to create accessibility to blockchains as a way to increase adoption of a decentralized society.