• Tue, 20 Aug 2019, 10:36 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Privacy-centric crypto startup Nym Technologies raises $2.5M

Wed, 15 May 2019, 10:52 am UTC

Privacy-focused start-up Nym Technologies has raised $2.5 million in a private token sale, CoinDesk reported.

Based in Switzerland, Nym Technologies was founded by Aggelos Kiayias, George Danezis, Harry Halpin, and Amir Taaki. The company aims to introduce advanced privacy-enhancing services to the market.

NEO Global Capital, Lemniscap, and Edenblock were some of the investors in the latest round. Binance Clubs, where Nym Technologies completed a 10-week incubation program, also participated in the funding round.

Token sales are not dead,” Roderik van Graaf, Leminiscap partner Roderrik van der Graaf, told CoinDesk. “We still believe there are such things as properly designed crypto networks with tokens.

In a video shared by Binance Labs, Harry Halpin, CEO of Nym Technologies, explains Nym’s privacy-enhancing features saying that “even the decentralized nodes which prove you’re authenticated don’t know what data is going across.”

“You control that data, you choose the data, you simply prove who you are – and then that is authenticated against essentially a decentralized network but that data is only shown to the people that actually need it which is the service provider at the end,” he added.

Speaking to CoinDesk, Halpin said that the company is planning to launch a testnet next year. However, he did not specify which blockchain its native token is based on.

Nym Technologies’ end goal is to “anonymize the world,” Halpin said. The token-centric company aims to achieve this by applying software to crypto wallets and mobile apps to hide IP addresses and user data from the network.

We believe our system should allow users to pay as they want, using fair prices for whatever services people want to provide,” he explained.

Halpin said that the tokens would be used for fees payment, node operator rewards, and staking for service providers.

Further emphasizing that the tokens will have value, he said, “The value will come from its utility and its ability to help other tokens improve their privacy.”

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,700.30 (-0.08%)
  • Ethereum (ETH) $197.49 (-1.68%)
  • XRP (XRP) $0.275500 (-3.92%)
  • Bitcoin Cash (BCH) $319.03 (-0.89%)
  • Litecoin (LTC) $75.64 (-2.98%)
  • Bitcoin (BTC) $10,700.30 (-0.08%)
Aug 20, 2019 (Tuesday)
10:29
Israeli regulator seeks to expedite licensing procedures for fintech and blockchain firms
10:26
Crypto Technicals: Litecoin treads water below 200-DMA, bias bearish
09:26
bitFlyer teams up with Tpoint Japan to rollout bitcoin rewards program
09:03
Crypto exchange startup INX Limited eyes $129.5M IPO, marking the first SEC-registered security token sale
08:00
New York court denies Bitfinex, Tether's lack of jurisdiction claim
07:16
Crypto Technicals: BTG/USD recovery lacks traction, weakness likely to continue
07:15
Ethereum Foundation launches Korean version of its website, announces large-scale translation program
06:39
Crypto exchange BitMEX to block users in from Seychelles, Hong Kong, Bermuda
06:35
Cybersecurity veteran David Damato joins crypto exchange Gemini
05:42
Deloitte unveils demonstrational platform for blockchain solutions
05:36
Crypto Technicals: ETH/USD consolidates break above 200H SMA, potential 'Golden Cross' raises scope for upside
04:36
Crypto custodian BitGo poaches new Chief Revenue Officer from rival Xapo
03:50
97% of South Korean crypto exchanges on the verge of bankruptcy; blockchain startups now want to go overseas: Report
03:41
Philippines' central bank approves 2 new cryptocurrency exchanges
03:38
Association of Cryptocurrency Enterprises and Startups, Singapore rolls out new Code of Practice
Aug 19, 2019 (Monday)
13:46
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
12:36
World Bank raises another $33M for Kangaroo bond via blockchain technology
12:28
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:49
Silvergate Bank reveals plans to offer crypto-backed loans this year
11:18
Crypto Technicals: IOT/USD bias higher on intraday charts, 'Death Cross' and 21-EMA resistance likely to keep upside limited
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft