An anonymously backed fund, going by the name The Unknown Fund says that it will invest and donate $75 million in BTC to startups working on improving privacy online. The fund made the announcement on November 13 via a press release on their site.
According to the announcement, the fund plans to focus on four areas. These areas are tools that help to enhance online anonymity, personal data protection, blockchain, and cryptocurrencies. In the modern era, protecting personal data is a major challenge, according to the announcement. It gave the example of Brexit and the US election. It claims that data manipulation helped to influence the outcome of those two events.
One of the organizers of the fund claims that large firms are only interested in collecting as much data as they can about people and then monetize that data. Meanwhile, they excel at making the masses poorer. According to the person, they are ready to protect people and fight for change.
The organizers of the fund come from various nations around the world and they first met on 4Chan, an anonymous imageboard, according to the announcement. They plan to invest in various startups as well as making donations to various nonprofits.
On the fund’s site, there is not much information that can be gleaned. The only notable information there is a quote from Snowden, which claims that it is not data but the people that that are being exploited. They also provide an email address where startups can apply for investment or for a donation.
According to the information on the site, investing is just the first step. They claim they will reveal various other methods in the future. It concludes by saying they will fight as much as they can until they achieve their goal.
This fund’s goal is a noble one. However, achieving online anonymity might be a challenge. This is because major companies and governments are always working on new tools and methods on how to glean data from users of the internet for various purposes.