StrongSalt Raises $3M In Seed Round To Develop Encryption Platform-as-a-Service

Advisory agency Valley Capital Partners has endowed $three million into encoding platform-as-a-service StrongSalt.

Per a Sept. 26 press release, StrongSalt raised $three million from Valley Capital Partners in a seed spherical to additive develop its encoding platform designed for builders and enterprises. The inauguration goals to construct an encrypted ecosystem, permitting people to maintain private information personal and to defend towards larceny and fraud.

StrongSalt claims to be the primary agency that gives an software programming interface (API) platform for builders to make current functions and workflows privacy-enabled. The firm plans to launch its encoding API platform inside the fourth quarter of 2019.

Industry’s curiosity in maintaining information personal

Today, Cointelegraph additively reportable that Overstock’s enterprise capital arm Medici Ventures made a $2 million funding right into a inauguration to additive creation of a suburbanised ecosystem of digital credential and blockchain-based self-sovereign id networks.

Recently, main communication possibility and expertise firm Verizon was awarded a patent for utilizing digital subscriber id modules (vSIMs) for patrons’ units. According to the submitting, the corporate’s blockchain encoding expertise ensures extra safety and the existence of just one copy of the vSIM on one machine at a time.

Experts’ opinion on blockchain in information safety

In a devoted evaluation for Cointelegraph, Oleksii Konashevych wrote {that a} digital ID is important for sure actions on a federal stage: registering an organization, declaring taxes, voting, then on. At these moments, the ID should be verified with an appropriate stage of certainty, which will probably be offered by blockchain and the infrastructure of feeling service suppliers.

Speaking about private information safety, Timothy Paolini, board member, NYU Blockchain, hip to Cointelegraph:

“Blockchains are built around the principles of decentralization, removing the single point of failure risk (think Equifax servers) and ablation gratuitous third parties by establishing a more direct, peer-to-peer network. This also maintains your privacy and control of your data from third-party apps as data rests at the communications protocol instead of the application layer.”

StrongSalt Raises $3M In Seed Round To Develop Encryption Platform-as-a-Service

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