UK-based Utilized Blockchain, an Enterprise DLT Options Supplier, Secures £2 Million in Capital through Spherical led by QBN Capital

UK-based Utilized 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 mentioned it’s going to use the funds raised to additional develop its privacy-oriented options that assists companies with enhancing their information administration processes.

Philea Chim, senior vice chairman at QBN Capital, acknowledged:

“Governments, corporates, and people are more and more involved about information privateness and information safety. We consider zero-knowledge proofs [ZKPs] supply a brand new and higher method to share and deal with information.”

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 prospects throughout completely different industries, together with aviation, automotive, vitality, delivery, telecommunications, and monetary providers functions.

Adi Ben-Ari, CEO and founder at Utilized Blockchain, confirmed that the corporate can be increasing its operations into Asian markets with the help of QBN Capital.

Established in 2015, Utilized Blockchain claims that it has applied greater than 70 blockchain or DLT software program functions (so far) for each small and enormous firms.

Utilized Blockchain has acquired 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 vitality spinoff alternate.

As talked about on the agency’s official web site:

“[Applied Blockchain] identifies and understands practical, non-functional and integration necessities that startups and enterprises encounter and the challenges of delivering next-generation expertise inside enterprise manufacturing environments. Our crew comes with twenty years of expertise in designing, creating and deploying options for international corporations.”