Today is another exciting day in the Stacks Ecosystem as we welcome a new Asia-based entity. Daemon Technologies, headquartered in Hong Kong, is launching to serve as an important entry point and hub for the Stacks Ecosystem in Asia, while further decentralizing the ecosystem.
Officially called Daemon Technologies 地灵科技 (Di Ling Ke Ji), the entity will begin its efforts by focusing on technology and services that will support individuals and entities intending to work with the Stacks 2.0 blockchain. The local team will also further galvanize community and growth efforts across China, Korea, and eventually future strategic markets by coordinating with investors, partners, and local leaders.
The broader mission of Daemon is to make Web 3.0 on Bitcoin a reality in Asia by driving the adoption of Stacks-based technology. Their approach will be to identify under or unserved opportunities within Asian markets, build software to serve those needs, and then open-source it for others to use and/or provide what they’ve built as a product or service.
At the very start, Daemon plans to experiment with software that leverages the Proof-of-Transfer infrastructure of the upcoming Stacks 2.0 chain. Founder Xan Ditkoff said, “We’re doing this because we believe it can be both a profitable endeavor for the entity and is the highest leverage activity we can do to support the Stacks ecosystem.”
Blockstack has had a presence in Asia from its earliest days, starting when Larry Salibra, now the CEO of New Internet Labs, another independent entity within the Stacks Ecosystem, was hired as one of the very first PBC engineers. Now, Daemon Technologies becomes another key player as the Stacks Ecosystem continues to decentralize. We’re so appreciative of our long-time supporters throughout the region including the Spartan Group, DeSpread, and some of the largest crypto investors in Hashkey Capital, SNZ, Fenbushi, and Recruit, and of course, all of the individuals in the community pushing the mission to build a user-owned internet forward.
Blockstack leaders have long recognized that to be truly successful long-term through Asia requires a much heavier approach, with a dedicated team on the ground who can focus solely on the market and hiring local expertise. Asian markets have long been some of the most important in crypto and the Daemon team and their strategic advisors believe a broader, deeper embrace of Stacks awaits, given more dedicated resources in the region.
Daemon’s Founder and CEO, Xan Ditkoff, has been on the ground in Hong Kong for the past 6 months researching, preparing, and now launching Daemon Technology. He will officially be leaving Blockstack PBC to head the new company and will bring his many years of experience in crypto and the ecosystem to the table.
Xan first joined Blockstack PBC in 2017 when he helped create the Signature Fund, an investment vehicle, and an incubator for Blockstack apps. Since then, his focus as a Growth Partner has been to scale the ecosystem of independent applications built on the network from a handful in 2017, to over 400 by the end of 2019. Xan is one of the first team members to travel the region and recognized the need for a dedicated Asia Entity early on.
The founding team will consist of Xan and Gavin Gao, an engineer based in Hangzhou, China. The entity will also have some of the biggest crypto investors in Asia on its Board of Advisors, including Hashkey Capital, Spartan Group, SNZ Capital, and Trevor Owens.
What does Daemon Technologies 地灵科技 mean?
The name Daemon has its roots in Linux and Neil Stephenson’s novel, Snow Crash. In multitasking computer operating systems, a daemon is a computer program that runs as a background process, rather than being under the direct control of an interactive user. In Snow Crash, the meta verse is populated by avatars (users) and daemons. Daemons are programs hackers have built to enable them to build, search, move, or otherwise get work done more easily in the metaverse. Given Blockstack’s foundational ties to both Linux and Snow Crash, as well the nature of the technology they intend to build, the name was a perfect fit.
The mandarin name, 地灵科技 (Di Ling Ke Ji), translates literally to earth spirit technology. It refers to a myth, or an idea that hallowed ground produces the most talent. In Daemon’s case, that hallowed ground is the Stacks Ecosystem anchored to Bitcoin.
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