Blockstack wants to build a new internet for decentralized applications

Blockstack was founded by Ryan Shea and Muneeb Ali in 2013 while the pair were students at Princeton University. It was there they conceived a decentralized identity system to replace how certain centralized parts of the Internet work. They called it Onename, a nod to their belief that future users would use a single name (or identity) to access the applications and services built on their system.

In early 2014, after building out the initial elements of Onename, Shea and Ali applied to join the prestigious startup incubator, Y Combinator. They were accepted into the 2014 summer cohort and went on to raise a $1.5M seed round led by NYC-based Union Square Ventures.