The CEO of HyperVerse, a crypto fund that collapsed earlier this week, appears to have no traceable existence. Other news stories in the blockchain space include a bitcoin hackathon with over $1 million in prizes and a new report predicting that blockchain-based payments could generate up to $500 million in revenue for banks.
The collapse of HyperVerse shocked the blockchain world when it was reported earlier this week. HyperVerse had raised more than $1 million in a funding round as recently as April 2018 and was reportedly in the process of a second round of funding. The CEO of the fund, Alexander Kurov, is now nowhere to be found. Numerous media outlets have attempted to contact Mr. Kurov, but he has not responded.
The mystery surrounding HyperVerse’s CEO only deepened when it was revealed that there is virtually no evidence of his existence online. While Mr. Kurov’s LinkedIn page does exist, it does not appear to be regularly updated, and it does not contain any information about his current activities or qualifications. Furthermore, no verification of his identity or background has been provided, leading to speculation that he may not exist at all.
In other news, there is a bitcoin hackathon taking place in San Francisco. The event, which will begin on August 3rd, will feature $1 million dollars in prize money for developers to create new blockchain-based applications. The hackathon is co-hosted by the Bank of America and the University of California, Berkley, and organizers are hoping to encourage innovators and entrepreneurs to dive into the world of blockchain technology.
Finally, according to a recent report from GlobalData, banking institutions stand to gain $500 million in revenue if they make use of blockchain-based payments in the next five years. The report predicts that this sector will experience a stratospheric growth rate, as blockchain-based payments become more and more commonplace across the globe.