Alibaba Fintech Division to Invest in QEDIT

$10M worth series A financial round was led by MizMaa Ventures; Ant Financial, Meron Capital, Collider Ventures, Jovono, Target Global and RGAX took part too
08 May 2019   1003

QEDIT, developing privacy-oriented solutions for commercial blockchains, closed a $ 10 million round of financing for Series A, led by venture capital firm MizMaa Ventures.

Among the participants of the round there are also Fintech division of Ant Financial, which is part of the Alibaba, Meron Capital, Collider Ventures, Jovono, Target Global and RGAX.

QEDIT develops solutions based on zero-knowledge proof compatible with private commercial blockchains. It is noteworthy that Ant Financial intends to use the technology in its blockchain services.

Note that earlier QEDIT raised $ 3 million in a seed round and $ 1 million in grants.

In the summer of 2018, Ant Financial, following the results of the round of financing of Series C, raised $ 14 billion to develop blockchain solutions an launched a cross-border settlement service based on distributed ledger technology soon.

Cobalt & Lithium Supplies to be Tracked With DLT

The platform will be created by the Everledger together with Circulor using Hyperledger Fabric
26 March 2020   839

Everledger, a British startup, has partnered with Circulor to develop a platform based on the Hyperledger Fabric blockchain to track supply chains of cobalt and lithium.

Everledger specializes in using blockchain to combat counterfeiting of precious stones, in particular diamonds. The company’s management said it intends to expand its business using blockchain to control the supply of rare minerals used in the production of batteries.

Well-known carmaker Mercedes Benz is already using Circulor technology to track its supply of cobalt and its carbon footprint. Circulor and Everledger share a similar concept - with the help of the blockchain they control the observance of social and environmental standards in mining. Therefore, startups decided to develop a joint product.

Everledger co-founder Leanne Kemp and Circulor CEO Doug Johnson-Poensgen said their solution will work on the Hyperledger Fabric blockchain. The possibility of interacting with IBM is also being discussed.

Poensgen added that the platform will be used not only to track cobalt production in the Democratic Republic of Congo, but in different regions of the world. For example, lithium mining in the Atacama desert leads to water pollution, so the solution on the blockchain is aimed at preventing environmental disasters.