Oasis Labs Blockchain Accelerator ‘Oasis Startup Hub’ Gets A16z Crypto, Binance Labs and Others Investment
A16z, Binance And Others Back Oasis Labs' New Blockchain Incubator
Oasis Labs, a blockchain startup, has been recently able to get venture capital funding from many notable companies and hedge funds in order to start its new tech startup incubator project.
The announcement of this partnership between the company and the investors was made last week via an official release that affirmed that the Oasis Startup Hub will be focused on building a privacy-first computing on blockchain platform.
The main investors that provided money and support for the creation of this program have names like Binance Labs, Pantera Capital, a16z Crypto and Polychain Capital, which maybe you can recognize as important companies in the blockchain venture capital industry.
Oasis’ hub will offer developers the access to technical support for their companies and even new technology. They will also be used to give assistance and feedback to other investors. The members of the program have the opportunity to work with the engineers of Oasis Labs and the investors, too, the release affirms.
The CEO of Oasis Labs, Dawn Song, has stated that the company has seen a strong interest in the private testnet that is currently being created as many people are interested in creating scalable blockchain solutions that protects the privacy of the users.
Privacy and scalability are two of the most important aspects of the crypto market at the moment. Privacy has been an issue that is debated all the time by the experts and while scalability is a goal that many investors has, as even the most important platforms of the market, Bitcoin (BTC) and Ethereum (ETH) has scalability issues.
Song has also affirmed that the company is deeply encouraged by the diversity and the volume of the devs who share the values of the company and that the product was mainly designed to help these people to create new amazing solutions.
According to the press release, Oasis Labs has secured many clients for the product and, while it did not name them, most of them are already using the platform. Some of the projects include areas like a decentralized credit score and the distributed data marketplaces for areas like artificial intelligence (AI), which can help startups in the field.
Data Protection Apps Are The Future
It is important to notice how applications that will be focused in the protection of data are important for the future of the blockchain field. According to reports, Accel partner Jake Flomenberg has already affirmed that many high-profile privacy failures have been creating problems and, as the world goes digital, it is more important than ever to protect your privacy from bad actors.
Paul Veradittakit, from Pantera Capital, has also commented that the hub is an unique opportunity for the companies who want to share their expertise to solve key issues from the blockchain technology and improve the market for the future.