Swiss Fintech Award winner Proxeus has announced an interesting partnership with data storage facility MOUNT10. Proxeus recently won recognition as the “early stage startup of the year” as it seeks to disrupt data storage by using Blockchain tech. This partnership with MOUNT10 is said to be a key element in Proxeus’ ambitious goal.
“Before Proxeus, the problem was that consumers were faced with an impossible choice: security, or accessibility,” says Proxeus Cofounder, Antoine Verdon. “Proxeus lets them have both.”
Proxeus enables data to be secured with military-grade encryption, while still being easily shareable and accessible. This is achieved by securely transmitting data encrypted by Proxeus on the client’s computer to an off-chain storage on MOUNT10’s server infrastructure. Access and ownership are controlled by smart contracts designed by Proxeus and made accessible through decentralized Apps (Dapps). This allows users to create a digital safe deposit-box, where to share access, a “key” is securely provided via blockchain technology, instead of insecure methods like email.
Regarding MOUNT10, this storage facility is described as the Swiss Fort Knox with nuclear level protection at its underground data centers.
Thomas Liechti of MOUNT10 says that as Blockchain becomes more prevalent, partnering with Proxeus opens up a new market for them.
Proxeus says it recently completed a successful initial coin offering (ICO) where they raised $25 million over two days in a silent ICO without a marketing budget. According to Proxeus, $10 million was raised by 20 buyers during the pre-sale, with the remaining $15 million being raised during the main sale from approximately 800 investors.
“When pitching a previous project, we were once asked by a potential investor ‘How do you intend to boil the ocean’,” says Patrick Allemann, co-founder of Proxeus. “It was a humbling, but very valid question. We’re answering that with Proxeus. We don’t intend to boil the ocean – we empower companies to boil their own patch of water. The ocean will boil… we just won’t do it alone.”
Proxeus, wants to empower companies ot digitize their workflows and start connecting them with smart contracts on the blockchain, resulting in important efficiency gains and cost reduction, and opening the door to new business models. All in a super secured environment.
— PROXEUS (@proxeusapp) March 15, 2018
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