Roger Ver to launch a $200 million fund to develop Bitcoin Cash ecosystem

Well-known entrepreneur Roger Ver announced the creation of a new fund worth $200 million to support projects working on the development of the Bitcoin Cash cryptocurrency ecosystem. This was announced during a meeting in London on Tuesday by the co-founder of Blockchain, Nicholas Carey.

Information on the structure of the fund is still unknown, but it is expected that it will be based on Bitcoin.com infrastructure in 2020.

“I promoted bitcoin. Today I am promoting Bitcoin Cash. Tomorrow I will promote something else if it surpasses Bitcoin Cash in terms of the spreading economic freedom in the world,” Ver said at a meeting in London.

It is noteworthy that, judging by a recent publication on Bitcoin.com, the company's business model is now leaning toward the use of smart contracts, intending to compete with Ethereum and other similar platforms.

Although the authors acknowledge that initially Bitcoin Cash was not conceived as a smart contract platform and does not have many features that can be found on Ethereum, they note that many companies do not need such features. For example, the Simple Ledger protocol tied to the Bitcoin Cash blockchain can handle simple issuance of tokens.

Notably, in the early days of bitcoin, Roger Ver was one of the main evangelists of the first cryptocurrency. Later, however, joined the supporters of Bitcoin Cash. He played an important role in the hard fork implemented in 2017 that gave birth to BCH.

Roger Ver was also one of Blockchain's early investors. In August this year, he resigned as CEO of Bitcoin.com, taking the position of executive chairman of the company.

At the time of writing, BCH/USD is changing hands at $239.00, mostly unchanged both on a day-to-day basis and since the beginning of Wednesday.