"Providing reserves and exchanges for the whole world is too much for one country and one currency to bear." —Henry H. Fowler, U.S. Secretary of the Treasury
Distributed ledger technologies enable the coordination of people without a central authority. And while this technology has cultivated a mass of new ideas across many domains, we continue to believe that the most salient opportunity presented is that of disintermediating the issuance and regulation of money.
This belief has led us to think extensively about what qualities an independent money should have, and what problems an independent money can solve that a sovereign money cannot.
And we have concluded that the single greatest advantage of independent money is its ability to remain solely focused on the responsible regulation of supply—such that purchasing power remains undiminished by cycles of inflation.
There is a very real possibility that a digital asset can make obsolete the problem of nonuniform inflation; and a solution to this problem would decouple us from the conflict between national and international interests that has been so troublesome for sovereign monies and the global economy to date.
Many stablecoin projects today are recreating fiat on distributed ledgers, and we think this is worthwhile because it opens up the free trade of money—lifting the floor of quality to that of the best fiat money.
However the true potential of independent money lies not in lifting the floor, but in lifting the ceiling of money quality. For this reason, we have chosen instead to address this much older, bigger problem of inflation and its connection to national policy.
The Bitcoin protocol has made enormous strides in this direction, but its fixed supply policy limits functionality to that of a digital gold. Our mission is to produce a money that is both sound, like gold; and stable, like fiat. For the first time ever, this is possible.
Founder & CEO
Ampleforth - 1984
Ampleforth is the name of a character in George Orwell's 1984 who is responsible for translating poetry into Newspeak, a language designed to limit freedom of thought.
When tasked to replace the word “God” in a Kipling poem, Ampleforth refuses, not out of righteousness, or subversiveness, but rather, a simple love for language and respect for the truth. To Ampleforth, no other word makes sense in context and therefore no other word should replace it.
Evan Kuo - Engineer / Product Evan is an art and math lover. He was previously the CEO of Pythagoras Pizza, and has extensive experience developing predictive auction products and working with venture capital. Evan holds a BS from UC Berkeley, where he studied a mix of ME & CS with research focused in Robotics.
Brandon Iles - Engineer / Architecture Brandon spent over 5 years in Google's Search Ranking and Machine Intelligence groups and later worked in Uber's Ranking and Relevance team. He loves the intersection of Systems, Data, and Intelligence. He holds a BS and MS in Computer Science from Rice University.
Ahmed Naguib Aly - Engineer / Backend Previously at Google, Ahmed spent over five years as a Software Engineer in the Search Indexing and Search Ranking groups. His passion for coding and algorithms began with competitive programming in high school and holds a Bronze Medal in the International Olympiad in Informatics. Ahmed has a BS in Computer Engineering from AAST in Alexandria, Egypt.
Aditya Sarawgi - Engineer / Backend Previously at Uber, Aditya began developing the end-to-end surge pricing system and later started the places search project with autocomplete, destination prediction, and current location prediction. Eventually he moved into advanced technology research to generalize Uber's multi-modal robotic perception networks. Aditya has an MS in CS from Stony Brook and a BE in Eletronics and Telecom from the University of Mumbai.
Nithin Krishna - Engineer / Backend Previously at USC, Nithin was a research engineer at the IRDS/IMSC labs where he worked on applying machine learning to big data problems like traffic prediction, recommender systems, content analysis and text mining. His Master's thesis was focused on developing novel algorithms to protect user friendships from location data. Nithin holds an MS Research degree in Computer Science, from USC.
Jessica Yen - Branding / Operations Jessica formerly co-founded Pythagoras Pizza and loves working at the intersection of technology and the humanities. She holds an MFA in creative writing and a BA from UCLA.
We'd like to take this opportunity to thank our tremendously helpful advisory board. Each of these people have already gone above & beyond the call of duty—as thought partners and as friends.
- Joey Krug
Pantera Capital, Augur
- Noah Jessop
Founder Collective, MIT
- Michael Karnjanaprakorn
Turing Capital, Skillshare
- Paul Veradittakit
- Sam Lessin
Fin, The Information, Facebook