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HTC, Alibaba invest $3M in blockchain property rights startup Bitmark

Wed, 04 Sep 2019, 07:23 am UTC

Taiwanese blockchain digital property rights startup Bitmark has scored $3 million in a Series A funding round led by electronics giant HTC.

Other participants in the funding include Chinese e-commerce giant Alibaba, venture capital firm WI Harper, and crypto-focused investor Digital Currency Group, as per a press release.

The funding will reportedly be used to expand the company’s sales and marketing efforts. Since its launching in 2016, Bitmark said it has successfully registered more than 1 million digital properties.

Bitmark CEO Sean Moss-Pultz acknowledged that the investors’ strong financial support will help the company realize its vision quickly and broadly.

Digital property rights are the missing link that will allow the Internet to enable a far more inclusive economy,” Moss-Pultz said.

The firm globally safeguards digital property rights for any kind of digital asset or data, including personal data, cryptocurrencies, digital artworks, and music rights.

Phil Cen, HTC’s Decentralized Chief Officer, said that its blockchain investments are the core part of its plan to put power bank in the hands of global end-users.

Bitmark's system for digital property rights greatly expands the promise of blockchain technology by assigning unique ownership for digital assets of all types. It's an important step in growing the blockchain ecosystem and we look forward to their growth and success,” he said.

In May, HTC announced that its blockchain smartphone EXODUS1 can now allow users to swap between cryptocurrencies within its native wallet. The new feature has been enabled through the incorporation of Kyber Network’s liquidity protocol into Zion Vault on EXODUS1.

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