Dapix Inc., a blockchain maker company based in Denver, has recently been able to raise $5.7 million USD via a Series A funding round, which was led by Binance Labs. The company, which was launched last year, created its own delegated proof of stake platform, which can be used to connect crypto-wallets, apps and exchanges.
Other companies that participated in the round include LuneX Ventures, Blockwall Capital and NGC Ventures.
The main goal of this company to create a standard that can be used in order to connect different products, the FIO Protocol. This new protocol will be used as a service layer that will connect different blockchain systems. David Gold, known as the CEO and founder of the company, affirmed that the idea is to create what the HTTP did for the internet.
The company has even created a nonprofit consortium, known as the Foundation for Interwallet Operability (FIO) Consortium. Over 20 companies are already a part of it and are trying to create the connections that will link their services. Trust Wallet, the official wallet used by Binance, is a part of the consortium now.
According to Kathy Zhu, a spokesperson for Binance Labs, the investment in this project was made because the company saw the potential for the blockchain world. The FIO protocol can be a way to improve the usability of technology by integrating different products, which could represent a huge change in how the market works today.
Now, the launch of the project is expected to happen at the beginning of the next year. Gold affirmed that the primary goal is not even to generate more income but to generate engagement instead and that the main objective is to leave a mark in the blockchain ecosystem.