This article was first published on Hello ICON World - Medium
Our Technology Partner secures ~$8m in Funding
We’re pleased to announce that our technology partner, ICONLOOP successfully raised ~$8m in a Series A investment round.
This Series A financing builds on a year of increased market adoption in Korea and solidifies ICONLOOP’s place as a leading blockchain company globally. With this funding, ICONLOOP, the technology lead for the ICON project, one of the largest public blockchain networks in the world, will focus on expanding the MyID Alliance with the launch of a commercialized service, my-ID.
ICONLOOP plans to launch a commercial customer service in the first half of 2020. A total of 27 organizations and companies in various fields including commercial banks, securities firms, e-commerce firms, and manufacturers have already participated in the alliance.
Starting with the financial sector, ICONLOOP will expand the MyID Alliance to other industries such as fintech, e-commerce, sharing economy, and healthcare to create a pioneering example of digital identification utilizing blockchain.
JH Kim, CEO of ICONLOOP, said, “In addition to the recognition of the marketability of our blockchain technology ‘loopchain’, we believe that this investment will increase our ability to drive blockchain adoption in Korea. ICONLOOP remains focused on providing value to the blockchain space by implementing real-world applications to provide operational efficiency, transparency, and security. This funding highlights our leadership in enterprise blockchain solutions.”
Min Kim, Foundation Council Member, said, “Our partnership with ICONLOOP has been instrumental in driving the success of the ICON Project. Solving digital identification will be a necessary pillar of Web 3.0 technology and a baseline for interoperability and trust among ecosystems and organizations of the future. We’re excited about the continued success of our technology partner and look forward to seeing progress with my-ID and other ‘loopchain’ implementations.”
ICONLOOP developed and opened sourced ‘loopchain’, the first blockchain core ...
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Hello ICON World - Medium