News Privacy Crypto Beam Gets Funding from 'Japanese LinkedIn' Recruit

Privacy Crypto Beam Gets Funding from ‘Japanese LinkedIn’ Recruit

-

- Advertisment -

Privacy-oriented cryptocurrency startup Beam has secured an undisclosed amount of funding from “Japan’s equivalent to LinkedIn” Recruit Co., Ltd.

Recruit announced the news Monday, stating that the investment is through its $25 million-sized RSP Blockchain Tech Fund, which was set up last November. Beam also confirmed the investment in a Tweet Monday, stating that Recruit invested prior to its Mainnet launch last month, adding:

“This investment helps Beam fulfill its mission in Japan too when it comes to deploying a compliant, scalable, and confidential cryptocurrency.”

Giving the reason why it invested in Beam, Recruit said: “Beam token provides a blockchain with a function that prevents the divulgation of transaction data to third parties and protects the user’s transaction information.”

Beam went live back in January and became one of the first cryptocurrencies based on Mimblewimble, a protocol that makes transactions confidential and reduces the size of the overall blockchain. Since launch though, the project has faced some technical difficulties. Most recently, its network “stopped at block 25709” for a brief period before operations were restored.

Recruit, in its Monday’s statement, further said that through its RSP Blockchain Tech Fund, which is a venture between Recruit and its subsidiary Recruit Strategic Partners, Inc. (RSP), it aims to invest in “promising” blockchain startups.

Besides Beam, Recruit has also invested in four other startups in the blockchain space, according to its website. These include crypto debit cards provider Shift Payments, blockchain identity startup ShoCard, blockchain payments provider Veem and Japanese bitcoin exchange BitFlyer.

US dollars image via Shutterstock 



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

4 Tips on How To Succeed on Bitcoin Trading

Bitcoin is a type of cryptocurrency which has grabbed the attention of countless people from different countries....

The First Cryptocurrency Bank License Is Now Granted

This is a historic development. A milestone in Bitcoin's path to broad acceptance and recognition. The State...

Yield Farming Program “Volcano” Kicks off Dutch Auction for Cryptokitties KittieFIGHT Game

In the fall of 2017, along with the rallying of Bitcoin and other digital assets, Cryptokitties dominated...

Ministry of Foreign Affairs of Denmark may use Blockchain to tackle corruption

We have already moved to the stage in our lives where technology plays an important role in...
- Advertisement -

What Lessons Can The World Learn From Venezuela’s Newfound Love For Crypto?

It is often the case that great changes are forced out of necessity, rather than a willingness...

How Bitcoin Capitalization Affected In 2020 on the Quarantine Background

Although the weeks of quarantining are gradually easing off, the impact of dealing with the deadly coronavirus...

Must read

4 Tips on How To Succeed on Bitcoin Trading

Bitcoin is a type of cryptocurrency which...

The First Cryptocurrency Bank License Is Now Granted

This is a historic development. A milestone...
- Advertisement -

Read Next
Recommended to you