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Blockchain investment: VCs invest in Zero-knowledge proof platform QEDIT.

blockchain investment

QEDIT made headlines recently when industry giants like VMware, Ant Financial and RGAX announced a partnership programme with the Israel-based blockchain security firm. 

According to InWara’s Venture Funding database, these newly formed partnerships are on the heels of QEDIt closing a $10 million series A funding round led by MizMaa Ventures. Venture Capital firms such as Ant Financial, RGAX, Meron Capital, Collider Ventures, Jovono and Target Global also took part in the funding round. 

 

Zero-knowledge proofs (ZKP)

Founded in 2016 with the aim of improving collaboration between companies within the same ecosystem by creating a risk-free environment for companies to share sensitive data. QEDIT’s employs Zero-knowledge proofs, a cryptographic technique that allows collaboration on private data without explicitly sharing the data, to achieve this goal. This is a much-needed privacy layer for blockchain to enter mainstream enterprises.

Why?

Enterprises have to ensure that confidential data remains private for legal or business reasons while at the same time also having to share data to enhance collaboration within their industry ecosystem.

First conceived in 1985 by Shafi Goldwasser, the idea that you can prove to another person the possession of some information without actually revealing the information has taken on a new lease of life with the advent of blockchain.

ZKP enables you to transfer the ownership of an asset without actually exposing the private of the seller, buyer or what was sold to the rest of the parties on the chain. In particular, QEDIT is diverting its attention to the financial services and supply chain industry due to the high adoption rate of blockchain in these industry sectors. 

QEDIT’s partnership with Ant Financial could allow the company to expand rapidly throughout the Financial sector by enabling risk-free and secure data collaboration between players in the industry. Thus by increasing QEDIT’s exposure to various players the company has an increased likelihood of adoption.

 

Venture Funding by industry sector: April 2019

Blockchain investment

source

During the month of April 2019, a staggering $341 million was invested in blockchain and crypto startups but less than a measly 1% was invested in cybersecurity companies akin to $3 million (source).

Is cybersecurity solutions like that of QEDIT underrated? That could be a reason why this sector has failed to attract significant funds when compared to other sectors.

Trading and Investing sector attracted the most funds among all industry sectors during this month. As much as $204 million was invested in this sector akin to a whopping 60%. On the heels of Trading and Investing is Blockchain sector at cool $51 million and Financial Services at $30 million.

Zero-knowledge proofs will likely take industry sectors such as Financial Services, Fintech, Real Estate among many others by storm, simple because of the utility of such a protocol.

 

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