Capsule is a new startup that has big plans to reimagine social media by building a decentralized social media platform.
And just like our other story today, it all started back in January of this year with a tweet…
I'm designing a decentralized social media solution where each user hosts their own microservice. These then connect to one another in a mesh, allowing following and sharing posts. It will be lightweight, user friendly and secure.— Nadim Kobeissi (@kaepora) January 10, 2021
Are you interested in funding its development?
A day after sending this tweet, Capsule founder Nadim Kobeissi secured a pre-seed funding of
$100,000 from angel investor and former Coinbase CTO Balaji Srinivasan, William J. Pulte and Wamda Capital.
Fast forward to today – Capsule is hitting a new milestone in its quest to build a new type of social media company and has closed a seed round of funding for $1.5M led by Beacon Fund, a dedicated crypto fund of Polychain Capital.
Polychain Capital is focused on startups building on Dfinity’s decentralized network, the Internet Computer.
Capsule founder Nadim Kobeissi is a cryptography researcher who previously authored the open-source E2E-encrypted desktop chat app Cryptocat commented:
- “The Internet Computer will hopefully be helping us build a ‘customized mini-blockchain’ to solve two issues with Capsule: Global authenticated timestamps for posts as well as a root of trust for user’s authentication keys for posts,” he says. “We were looking to solve these issues somehow before this investment and were already considering Dfinity as the potential solution given that it has a programming language that allows for building these ‘custom mini-blockchains’ as we see them. The rest will still be a self-hosting, self-contained, precisely engineered micro-services concept, with IPFS (previously GUN) as a decentralized database/connectivity back-end.”
Well said and well tweeted Nadim.