Ripple’s Chris Larsen And Global Investors Back David Chaum’s Elixxir Blockchain Startup
Ripple’s Chris Larsen And Global Investors Back David Chaum’s Elixxir
Elixxir, a new blockchain which was launched by David Chaum, a famous cryptographer and was launched during Consensus Singapore, has announced a successful strategic investment round from lead players of the blockchain world including Ripple’s Chris Larsen recently. The announcement was made via a press release.
The mission of this new company is to fulfill the dream of decentralization first announced by Satoshi back in 2008 by enabling the citizens of the world to message and transact securely without having to worry with speed and other similar issues.
David Chaum, the creator of the company, is an American computer scientist and cryptographer which was known for developing Ecash back in 1982, way before cryptos were a reality. He is also known for his work in DigiCash, an electronic money corporation and for releasing papers on money and cryptography.
He is also known as a serial entrepreneur which proposed the idea of the blockchain back in the 80s while he was only a graduate student at the University of California Berkeley. Being the inventor of digital cash and a cryptography master, he also founded the International Association for Cryptologic Research.
Now, David Chaum will also participate on Money 20/20 today, October 23 (from 9:00 am to 9:30 am PST) where he will reunite with the founder of Litecoin, Charlie Lee, and the founder of the BTC Media, David Bailey, to discuss privacy in the digital age.
The Investment Round
Elixxir began its development cycle early in 2016. The idea of the company was older but the development began in “stealth” mode, the press release affirm.
Now, investors from Asia and the United States which share a common vision with the platform are focusing their efforts to creating a platform that can really make confidential transactions and enable secure communication of sensitive information at a big scale.
The investment was led by Chris Larsen’s company, H&D Company Ptd Ltd. Larsen, in case you do not know, was one of the co-founders of Ripple, the third largest crypto in the market today.
According to the company, they value the experience that Chaum has in the area and this knack for innovation, which will be used to create a brighter future for the industry. Larsen has echoed the sentiment and affirmed that Chaum has been a defender of privacy since the early days and that for almost forty years, longer than anyone in the industry, he championed this idea.
Elixxir has been launched for only 10 days at the time of this report, but the company already has more than 1,500 interested parties that want to be a part of the company’s nodes and 500 developers have declared that they have interest in developing applications for this new company.
With an infrastructure design capable of processing hundreds of thousands of confidential quantum-resistant transactions, the platform will be able to solve scaling problems that plague the crypto industry today and to operate using only a tiny fraction of the energy that is spent by Bitcoin while operating.