Blockchain-based information curation startup Band Protocol secures US$3M seed funding
Summary
Joining the round was Dunamu & Partners as well as SeaX Ventures.Band Protocol describes itself as a startup that harnesses wisdom-of-crowd and incentivises its digital community of users to curate reliable information. Heres a startup that can predict whether your startup will fail or notThe investment made by Sequoia India into Band Protocol also marked the global VCs first blockchain investment in Southeast Asia.The premise of Band Protocol is that it offers users an opportunity to create a token-curated community thats specific on a topic or category. Our vision at Band Protocol is to bring online and digital communities together by creating an online platform for the curation of transparent and reliable data.With the companys approach, Band Protocol can serve customers ranging from credit bureaus, fraud detection, KYC and identity verification as well as any service or site that offers online discussions, recommendations, and rankings.Band Protocol was founded in 2017 by Soravis Srinawakoon, Sorawit Suriyakarn, and Paul Chonpimai. All three founders have histories with investing in cryptocurrencies since 2013 and have created a crypto game in 2015 that is said to have garnered over 300,000 users.Band Protocols believed to be able to solve the problem of lack of regulation that arises from issues like biased ranking, inaccurate reporting of token metrics, to scams that part retail investors from their money.Also Read: Blockchain is paving the way for something new: Smart CompaniesTo promote the adoption of Band Protocol and demonstrate its application, the team is creating CoinHatcher, that serves as a decentralised portal that aggregates reliable news, research, token-economic information, and a comprehensive directory of crypto projects, founders, and other related ecosystem players for education and data accuracy in the sector. The post Blockchain-based information curation startup Band Protocol secures US$3M seed funding appeared first on e27.