Oraclize has closed on €500,000 in their seed round led by Digital Identity SA, a growing firm delivering services for the Fintech industry.
The company believes that Blockchain technology opens many opportunities in a variety of areas, including Fintech and cryptocurrencies.
With its primary focus being on financial companies, cryptocurrency wallets, and decentralized exchanges, among others, Oraclize represents a strategic investment securing development of the layer on top of which these financial applications are built.
Natale Ferrara, director of Digital Identity SA, commented:
“Oraclize provides an infrastructure tool essential for Blockchain applications to grow and have a concrete impact. I believe that our investment in Oraclize will support the talented team with its activities and ultimately benefit the Blockchain ecosystem as a whole.”
In the Blockchain context, the company provides a safe data-transport-layer enabling decentralized applications (dapps). Since 2015, it has served over 200,000 requests on the Ethereum mainnet and several million on test nets, backing its claims with authenticity proofs based on a variety of cryptographic techniques.
It aims at developing Blockchain applications in order to overcome common limitations while minimizing additional trust lines. For this reason, the authenticity proofs rely on independent attestors, leveraging both software and hardware-enforced security technologies.
Thomas Bertani, CEO of Oraclize, comments:
“Since launching in March 2015, the Oraclize concept has evolved and reshaped according to the needs of the market. Today, Oraclize is the longest running Oracle service across a multitude of Blockchain platforms. Our activity goes beyond that, we have developed a powerful technology securing different kinds of processes. This funding will enable us in bringing our technology to the next level.”