Neumann plans to launch a digital wallet that stores crypto. According to Forbes, the digital wallet by Flow will also be able to keep fiat currencies, including the US dollar.
Shortly after receiving investment in its yet-to-be-launched residential real estate company Flow, Adam Neumann is planning to release a digital wallet. Earlier this week, venture capital firm Andreessen Horowitz (a16z) revealed plans to invest in Flow, referring to the new business as the answer to America’s housing challenges. a16z said Neumann is a visionary leader who is keen on connecting people through work and communities. At the time of the announcement, reports revealed that Andreessen Horowitz had invested $350 million in Flow. According to the new business website, the residential real estate company will launch in 2023. Interestingly the company’s valuation is now over $1 billion despite that it is not yet active.
Neuman’s Upcoming Business Flow is Launching Digital Wallet
Less than a week after a16z indicated an interest in Flow, Neumann plans to launch a digital wallet that stores crypto. According to Forbes, the digital wallet by Flow will also be able to keep fiat currencies, including the US dollar. A Flow spokesperson, Davidson Goldin, noted that users of the digital wallet would not be able to use it to make rental payments for apartments managed by the real estate company. Rather, the wallet will be useful for outside purchases, just like other digital wallets.
Forbes explained that it confirmed the Flow digital wallet after a recruiter promoted a role at a “groundbreaking” enterprise. To promote the position, the recruiter referred to the upcoming ventures as “one of the largest implementations of blockchain. The ad added that the role has to do with a “multi-faceted approach,” and Neumann would be heading the company. Forbes said that a LinkedIn message sent to a potential product manager candidate pointed more to the Flow digital wallet.
“Adam is building a next generation multi-family property management system with a proprietary payment system [which] will include a full financial services wallet, a tokenized reward program and crypto payment methods.”
Flow’s Spokesperson Denied Crypto-Related Job Description
However, Goldin declared that the job description was largely false. He added that it should not have been distributed either. An employee of Code Recruitment, which has been recruiting for Flow, said the job description promoted was not accurate. Robert Gade said he “made a mistake and misrepresented the job.”
In place of the ‘false’ job ad, the Flow spokesperson said another product manager role without the mention of crypto or blockchain. According to the new description, the role entails analyzing the technology ecosystem and services in the multifamily industry.”
The Flow digital wallet is not Newman’s debut into the crypto world. The businessman co-founded Flowcarbon, which is intended to carbonize carbon credits. Again, a16z financially committed itself to the startup, leading a $70 million funding round. However, Flowcarbon recently suspended a token sale due to unfavorable crypto market conditions.
Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience.
Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.
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