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- A London-based Distributed solutions specialist, Applied Blockchain has raised approximately £ 2.5 million in new funding. This funding round was led by a Hong Kong-based firm QBN Capital.
- These new funds will be invested in creating a platform that will utilize privacy-enhancing technologies to support companies to work together without sharing any of their data.
- The blockchain was chosen by oil giant Shell to develop and deploy the first distributed platform for energy derivative trading since 2018.
A London-based Distributed solutions specialist, Applied Blockchain has raised approximately $2.5 million in new funding. This funding round was led by a Hong Kong-based firm QBN Capital.
Applied Blockchain to develop various applications for ZPK
These new funds will be invested in creating a platform that will utilize privacy-enhancing technologies to support companies to work together without sharing any of their data.
The senior vice president at QBN Capital, Philea Chim addressed that the governments, businesses, and individual users are increasingly worried about data security as well as data privacy. However, the company believes the zero-knowledge proofs [ZKPs] will provide an exclusive way to share and handle data.
Chim further notified that Applied Blockchain is expected to launch an abundance of applications for ZPK in coming future.
On the other side, the blockchain has already begun working with its growing enterprise client base to pilot the platform in their respective market that includes energy, aviation, telecoms, shipping, financial services, and automotive.
Blockchain was backed by oil giant shell
The blockchain was chosen by oil giant Shell to develop and deploy the first distributed platform for energy derivative trading since 2018.
Established in 2015, the blockchain has developed over 70 distributed solutions to date for new businesses and corporates. The founder and CEO Applied Blockchain, Adi Ben-Ari said it is a great achievement for the company to develop a platform to meet the demands of the corporate clients to work on their data by keeping it safe, secure, and private.
While receiving funding from QBN Capital, the blockchain aims for further developing the privacy-preserving technology and working with QBN to grow in the Asian market, Ari added.
We are very excited to announce that we've been backed by Hong Kong based QBN Capital. We look forward to developing our privacy-enhancing technology and working with them to extend our reach into Asian markets.
Press release: https://t.co/17OTURPjFT#blockchain #level39 pic.twitter.com/tNX0yTDmWq— Applied Blockchain (@AppBlockchain) April 22, 2020
The company shared its excitement in the social media platform saying that the blockchain has been backed by Hong Kong-based QBN Capital.
