Zug, Switzerland-based Zenotta AG, a peer-to-peer trading system and Smart Data Platform, has raised CHF 10 million ($10.7M USD) through a token sale, in its first seed funding round, according to a company release.
Zenotta says it wants to create a more “decentralized, democratic, and fairer society in which users are empowered as sole owners of their personal data.” Zenotta seeks to transform any type of file into “Smart Data” – embedded with identity, rights, intelligence, and privacy characteristics.
Roelou Barry, CEO and co-founder of Zenotta, commented on the funding:
“The overwhelmingly positive reaction amongst our network of private investors and early-stage backers is a testament to our unprecedented vision of creating a digital system in which files are the medium of exchange. For five years, Zenotta has operated on a self-funded basis giving us the freedom to develop and refine extremely solid foundations for the Zenotta Digital System. We are now well-positioned to develop partnerships and advance our mission to create an entirely new payments network for the internet of value.”
Andrew Kessler, CTO and co-founder of Zenotta, added that the Zenotta project is the culmination of many years of research in reimaging how to bring about a “true data democracy.”
“As Zenotta moves forward backed by those who share our vision, the revolutionary potential of our blockchain in eliminating uncertainty in transactions combined with our creation of smart data, will become increasingly impactful in the world.”