Bitmain Seed Investment in ChainLab’s Wings to Accelerate Blockchain Innovation

ChainLab, developer of Wings, has announced a strategic undisclosed seed investment from bitcoin hardware mining producer Bitmain Technology. Wings is a decentralized network for creation, participation and management of Decentralized Autonomous Organizations. The funds will be used to advance the development of Wings platform prior to the Wings DAO launching, which is expected by the end of Q2 2016.

Wings is a multi-blockchain, smart contract based platform for DAOs which will enable anyone with a smartphone to participate in DAOs. With the platform, launching and participating in DAOs becomes faster and easier as no smart contracts or coding knowledge is required. Wings enables this by hiding all the complexity within a conversational user experience of decentralized artificial intelligence chat bots that interact with DAO creators. For DAO members, on-the-go DAO participation and management is realized through the use of the same chat bot interface in popular messaging applications. The system is enabled by the integration of Ethereum smart contracts network, the RootStock Bitcoin Virtual Machine, InterPlanetary File System, and 3rd party chat and instant messaging networks.

Sebastian Stupurac, CEO of ChainLab, commented: “Bitmain showed great interest in the team, thus placing their trust in the identified human potential and experience behind ChainLab. The seed investment in the company followed soon after and it has played an important role in our evolution.”

ChainLab was founded by three blockchain enthusiasts: Stas Oskin, Sebastian Stupurac, and Boris Povod; The team has prior experience in blockchain projects and aims to create scalable, independent and corruption-free solutions using blockchain technology. The team at ChainLab is currently focusing on creating a public Proof of Concept of the Wings that will showcase the team’s vision of how the creation, participation and management of DAOs should be an effortless and intuitive process, convenient and accessible to all.

Jihan Wu, Co-Founder of Bitmain noted: “Bitmain invested because we see a great team and we look forward to seeing Wings grows into a successful platform for launching DAOs over Rootstock and Ethereum, being an accelerator for the innovation on the public blockchain.”