Crypto

Blockchain agnostic MPC solution Partisia increases $2.6M in early contribution symbolic sales.

Blockchain agnostic MPC solution Partisia increases $2.6M in early contribution symbolic sales.

Partisia Blockchain, a Danish-based solution to the challenges of confidentiality and privacy, announced today that it has successfully raised $2.6 million in a private, early subscription sale. The Partisia Blockchain is currently working in Testnet and is in the process of launching Mainnet in 2021.

The launch of Partisia Blockchain represents the first successful full integration of the blockchain technology with another commercial type of distributed cryptography known as Secure Multi-Party Computation (MPC). While blockchain prioritizes transparency in design, MPC introduces confidentiality into the equation by using a network of calculation nodes that process encrypted data with zero knowledge of the data. This combination of Distributed Ledger Technology (DLT) with privacy-enhancing software enables enterprises to experience the benefits of decentralized technologies while ensuring that data remains private and secure.

Kurt Nielsen, Chairman of the Partisia Blockchain Foundation, says: “The Internet has been working on the same basis for 20 years, but a lot has changed since then. The principles of privacy and confidentiality are no longer a luxury; they are a necessity demanded of all corners of society – users, businesses and governments. The Partisia Blockchain wants to create a sustainable, data-driven society by facilitating the balance between protection and use of data. Now supported by global initiatives such as the World Economic Forum, the US Commission on Evidence-based Policymaking and the UN Global Working Group on Big Data, MPC is the key to a new era in digital transfers and data management that reduces the risks and fears experienced when using digital platforms”.

During this period, Partisia Blockchain will mainly use the resources contributed to its operating costs, including the expansion of its team, the further development of its technology and the broadening of its community in the run-up to and after the launch of Mainnet in 2021.

Professor Ivan Damgård, Chief Cryptographer of Partisia Blockchain, said: “Decentralized data solution systems are promising for completely new ways of doing digital business. To date, however, this has been hampered by a lack of privacy and confidentiality. Using the unique combination of Multi-Party Computation (MPC) and blockchain, Partisia Blockchain now offers companies a reliable way into the blockchain industry and the enormous opportunities it has to offer”.

Partisia Blockchain Challange

Merging block chain and MPC has long been recognised as a major challenge by the Partisia Blockchain team, which has worked diligently over the past four years to achieve this goal. A space pioneer, Partisia Blockchain was founded by Denmark’s leading developer of privacy protection solutions, Partisia, which has been selling commercial quality MPC software solutions to global enterprises since 2008. Led by Ph.D. Kurt Nielsen, the team includes a number of well-known industry luminaries among its members, including the co-creator of the famous Merkle-Damgård hash function, Professor Ivan Damgård, a celebrated academic, and one of the world’s top cited and published researchers in cryptography, and Professor Jesper Buus Nielsen, the author of more than 80 scientific publications, including Secure Multiparty Computation and Secret Sharing – the first and most influential textbook on MPC.