Peter Gabriel Invests In UK Based Blockchain Startup

BTC Wires: Founder and vocalist for legendary English rock band Peter Gabriel apparently is another addition to the list of celebrities who are intrigued by Blockchain technology. As per a press release published on July 18, Peter has invested in a startup that uses blockchain technology and goes by the name of Provenance. Peter’s investment has made him a member of the group of investors that is driven by Digital Currency Group, Working Group Capital Fund, Plug and Play, and Merian Ventures.

Provenance is a UK based startup that is looking to stretch the outreach of its services, and this newfound investment could come in handy while the startup strives to do so. Provenance wants to implement blockchain technology to the food transportation industry in order to invoke more transparency there. This very noble idea caught the attention of Gabriel who has been thoroughly supportive of the enterprise and their motives. Funds provided by Peter are to be utilised for the creation a blockchain-based application that will harness more than a thousand F&B businesses by 2025.

According to Gabriel, there is a dire need for trustable sources and distribution chain, especially when talking about issuing the credibility of ethically grown food crops. Peter has full faith in the vision and mission that Provenance that undertaken. He feels that their blockhead implemented technology will be of chief importance in the times to come. The application is said to create more connections between consumers and small time producers. Thus, helping them compete with established producers within the domain.

In addition to their newly found investor, Provenance is also paving way for two new members to its Board of Directors. One of these, Alexisis de Raadt-St. James, is Founder of Merian Ventures joins Provenance as the Chairperson of their Board of Directors. The second addition to the board is Chemain Sanan, who is a partner at Working Capital.

Dmitriy

Having majored in Social Psychology and Economics, I worked as a team lead of a tech and fundamental analysis lab in the Applied System Analysis Research Institute. I write financial articles for various international media. I also hold the position of a Chief Analyst at RoboForex.