KR1 PLC (LON:KR1) has invested US$200,000 into the Starks Network as part of a seed funding round led by IOSG Ventures and Hypersphere Ventures.
Starks Network enables computation and analysis of personal data without sending them to third parties, preventing private data from being stolen or misused.
“The Starks Network enables a novel approach of Self-Sovereign Data and Self-Proving Computation” said KR1 in a statement and “as such the network could become a backbone as a confidential computation infrastructure for the ecosystem in the future”.
George McDonaugh, managing director and co-founder of KR1, added: “Starks is a research-driven project coming out of academia and we are excited to support such a skilled team on their mission to bring data securely into blockchain applications while preserving users’ privacy.
“This opens up new opportunities and will help push the development of the blockchain space forward.”