Tierion ICO Raises $25 Million to Secure Data Through Ethereum's and Bitcoin's Blockchain
Summary
Tierion, a new start-up, has raised just over $25 million worth of bitcoin and eth in an ICO that finished yesterday, reaching their aim of maximum funding. The project is VC backed with a live product used by Microsoft and others for data verification through anchoring information to the ethereum or bitcoin blockchain. Anyone with this proof can verify the data’s integrity and timestamp without relying on a trusted authority.” Record keeping is a big business with many service providers, from hospitals to land registries, looking at ways to secure their processes through blockchain technology. Fenbushi capital has backed them with a $1 million seed round alongside the Digital Currency Group and Blockchain Capital with Bo Shen, General Partner at Fenbushi, stating: “Unlike most projects raising money through token sales, Tierion already has a live product that they’ve been improving for years. Although here at trustnodes we have criticized them for the way they made their decision, disclosure requirements, such as revenues and profits, as well as quarterly public reports on progress and funds spending, would be welcomed.
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