UK-based Applied Blockchain, an enterprise-grade blockchain or distributed ledger tech (DLT) options supplier, has secured £2 million (appr. $2.5 million) in capital by means of a brand new funding spherical.
The corporate’s funding spherical was led by QBN Capital, a Hong Kong-headquartered enterprise capital firm.
Utilized Blockchain’s administration stated it’s going to use the funds raised to additional develop its privacy-oriented options that assists companies with enhancing their knowledge administration processes.
Philea Chim, senior vp at QBN Capital, said:
“Governments, corporates, and people are more and more involved about knowledge privateness and knowledge safety. We consider zero-knowledge proofs [ZKPs] supply a brand new and higher approach to share and deal with knowledge.”
Chim additionally famous that Utilized Blockchain is planning to launch a number of new functions for ZKP within the foreseeable future.
The corporate added that it’s presently testing its DLT-powered platform with its clients throughout totally different industries, together with aviation, automotive, power, transport, telecommunications, and monetary companies functions.
Adi Ben-Ari, CEO and founder at Utilized Blockchain, confirmed that the corporate will probably be increasing its operations into Asian markets with the help of QBN Capital.
Established in 2015, Utilized Blockchain claims that it has carried out greater than 70 blockchain or DLT software program functions (so far) for each small and enormous companies.
Utilized Blockchain has obtained investments from big oil firm Shell and VC agency Calibrate. The corporate secured substantial investments from them again in 2017.
Shell additionally labored with Utilized Blockchain to develop an power by-product trade.
As talked about on the agency’s official web site:
“[Applied Blockchain] identifies and understands useful, non-functional and integration necessities that startups and enterprises encounter and the challenges of delivering next-generation know-how inside enterprise manufacturing environments. Our group comes with 20 years of expertise in designing, creating and deploying options for international corporations.”
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