Japan's LinkedIn Rival ‘Recruit' Invests into BEAM Privacy Coin from Its $25 Million Blockchain Fund

A Japanese company called Recruit, which is known as the local equivalent of LinkedIn, Booking.com, Yelp, Zillow and others into a single app has announced that it has invested in cryptos. The company has invested in Beam Development Limited, the company that created the BEAM tokens.

Beam Privacy Coin has revealed that the Japanese group invested in the company before they released their mainnet and that this will the company to deploy its product on Japan more easily.

According to the official information released by the companies, the investment was made at the beginning of January and it was made through a Recruit’s venture fund that is only focused on investing in the blockchain technology. The value of the investment was $25 million USD.

This fund is known as RSP Blockchain Tech Fund Pte. Ltd. It is designed to deploy capital to startups that are focused on this emerging tech. The company is now interested in non-equity funds and it is already planning to organize a token sale agreement that will help with the growth of the industry.

Recruit decided to invest in the blockchain technology because the company decided that confidential transactions were a key element that could private companies more interested in using the blockchain, which would help with the growth of the industry as well as to benefit the company for investing in this tech.

The reports affirm that Recruit saw the revolutionary aspect of cryptos and decided to facilitate innovation while preserving the confidentiality of the transactions. However, the company is certain that this kind of technology will have to be regulated in order to achieve the best results so that no abuse is made using the technology.

Recruit has made at least four more blockchain investments recently, including companies like ShoCard, bitFlyer, Veem, and Shift.

About BEAM

BEAM is the new token created by the Beam Development Limited team. The token is a privacy coin just like Monero (XRM). It uses the MimbleWimble protocol, which is used to cloak the transactions and mix them in a way that nobody will ever be able to determine who is making the individual transactions.

Because of the efficiency of the protocol, BEAM tokens made quite a significant splash when its mainnet was launched last month.

BEAM has a market cap of $7.2 million USD and it is currently down 4% in the last 24 hours. Its current price is $1.17 USD.

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Gabriel Machadohttps://bitcoinexchangeguide.com/
Brazilian journalist who is interested in the future of the financial world. Has a special interest in the blockchain technology and the global financial markets. Covers economic and technology news with a focus on the fintech industry and has been writing about the cryptocurrency market since the start of 2017.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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