Marc Andreessen, co-founder and general partner of venture capital firm Andreessen Horowitz (also known as a16z), sees encryption and blockchain as the most important new architectural changes in the technology industry.
In Bloomberg Fortune interview Together with David Rubenstein, Andreessen redefines the terms of the debate and no longer discusses Bitcoin (Bitcoin)-And encryption more broadly-is or not a lasting investment proposition.
“Encryption is a bit like the parable of the blind and the elephant. People touch it in different ways. They get distracted, forgetful, and full of energy because of these different topics,” Anderson quipped. However, for a16z, the most important aspect of cryptocurrency is that the company sees it as a fundamental structural change in the technology industry, attracting many of the brightest people in the field of computer science.
“We believe [crypto] As a technological transformation. A fundamental technological breakthrough has taken place.This is a field of computer science called distributed consensus […] Money is an application […], But this is just one of them. ”
Andreessen did not focus on Bitcoin as an asset, but emphasized the ability of the blockchain to allow participants to interact with software on the Internet, thereby forming a trust relationship in an untrusted environment:
“These are new types of computers. This is where it becomes very subtle. Bitcoin is an Internet computer distributed on hundreds of thousands of physical computers around the world. This is a transaction processing system that can run without any central location. […] This is a new type of financial system. “
Andreessen said that for all these reasons, venture capital firms take encryption very seriously. A16z did increase its commitment to blockchain development in 2021, announcing Crypto Fund III — A $2.2 billion venture fund At the end of June this year, it was co-led by Andreessen Horowitz general partners Chris Dixon and Katie Haun. The fund will invest in blockchain projects at any stage of development, “from early seed stage projects to fully developed late-stage networks.”
A16z has led many important financings in the blockchain field, including Solana Labs’ $314 million private token sale This June.In the first few months, it led OpenSea, an irreplaceable token market, raised $23 million March, one US$28 million investment in Aleo In April, and Raise $40 million for Talos in May.As early as 2018, a16z fell behind Dfinity’s 105 million USD A round of financing.
Major U.S. cryptocurrency exchanges Coinbase sees a16z as its biggest supporterThe venture capital firm owns approximately US$9.7 billion worth of shares on the exchange.