A brand new encoding-as-a-service firm raised $Three million to deliver standardized encoding methods to the blockchain.
Data privateness startupStrongSalt introduced Thursday the closing of a seed spherical from Valley Capital Partners. Backed by three encoding-related patents, StrongSalt will launch its API product later this 12 months on the AWS re:Invent 2019 convention in Las Vegas, Nevada.
StrongSalt “bakes” its encoding service into workflows and purposes and pairs with each permissioned and permissionless blockchains.
“StrongSalt is chain-agnostic, as we can work with just about any blockchain,”StrongSalt CEO Ed Yu advised CoinDesk. “We use blockchain primarily for three reasons: availability of data, dependableness of data and shareability of data.”
Yu advised CoinDesk blockchain expertise is used for the safety of sharing hashed cognition on the platform in addition to with clients.
Raymond Choi of Valley Capital Partners expressed companies want reliable safety mechanisms, one affair that StrongSalt addresses. Said Choi:
“Currently, businesses have to sacrifice security for usability. Because StrongSalt’s innovative platform allows for complete data searchability without giving up sensitive information, it’s taking the stress off data direction from businesses who can ill afford to drop the ball from being hacked.”
Valley Capital’s Steve O’Hara, who will likely be becoming a member of the StrongSalt board, expressed the present restrictive surroundings was the impetus for investment inside the firm.
“As the restrictive environment ramps up enforcement and forces business to conform to tightening laws, businesses won’t have an easy out if the technology isn’t viable or cost-effective,” O’Hara expressed in an announcement.