Blockchain is a booming industry, as company after company secures additional investments these days. Tierion, a blockchain startup which has been making headlines recently, announced their successful US$1m seed funding round earlier today.
The primary goal for Tierion is turning the blockchain into a global platform that verifies the integrity of any data, business process, or file. Such an ambitious plan will lead to exciting partnerships in due course, as the blockchain startup wants to offer something every business in the world can benefit from.
But the company has not gone by unnoticed, as they announced US$1m in seed funding earlier today. Among the parties investing in the startup are Fenbushi Capital, Blockchain Capital, and Digital Currency Group. This latter comes as no surprise to anyone these days, as DCG is keeping their fingers in just about any project that has potential for mainstream adoption these days.
Tierion has been quite the successful company so far, as their API and tools make life a lot easier for developers looking to venture into the world of blockchain.. Especially the tamper-proof and distributed nature of this technology holds a lot of potential for companies around the globe, as outdated IT structures need to be replaced with more secure solutions.
Digital Currency Group CEO Barry Silbert told the media:
“We are excited to see the Tierion team leveraging the core innovation of blockchain technology to secure data and ensure it cannot be tampered with. Their open protocol will enable those new to this technology to easily create data management tools to track the history of one of the most valuable assets of any organization – information.”
It has to be said; Tierion is tackling the concept of bringing blockchain to the masses from an entirely different angle. Their solution focuses on cryptographically linking data to the blockchain through anchoring. Additionally, a receipt of this process will be generated, giving the owner irrefutable proof of the records being stored securely and without any chance of tampering with the data.
An open specification has been created specifically for this process, called Chainpoint. Any developer in the world can use Tierion to build blockchain-based applications to notarize documents or even automation of business processes. The audit trail generated through Chainpoint can also be verified using the blockchain itself, creating a complete package for any business.
Source: Press Release Via Email
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