Digital Identity SA Invests in Oraclize

Announcements, Blockchain, FinTech, Investing, News | August 29, 2017 By:

Blockchain company Oraclize has raised €500,000 in its seed round, led by FinTech firm Digital Identity SA. Oraclize plans to use the funds to expand its service and the impact of blockchain technology in different fields.

Oraclize is a London-based blockchain technology development company providing infrastructure layers for smart contracts via its Oracle solution. The company has been providing smart contract and Oracle solutions to a wide range of organizations for the last two years, from blockchain startups to established corporates.

Since 2015, Oraclize has served over 200,000 requests on the ethereum mainnet and several million on testnets, backing its claims with authenticity proofs based on a variety of cryptographic techniques to prove the authenticity of data.

Oraclize enables blockchain applications to overcome common limitations while minimizing additional trust lines. For this reason, the authenticity proofs rely on independent attestors, leveraging both software and hardware-enforced security technologies.

“Since launching in March 2015, the Oraclize concept has evolved and reshaped according to the needs of the market,” said Thomas Bertani, CEO of Oraclize. “Today, Oraclize is the longest-running Oracle service across a multitude of blockchain platforms. Our activity goes beyond that; we have developed a powerful technology securing different kinds of processes. This funding will enable us in bringing our technology to the next level.”

Digital Identity SA, a growing firm delivering services for the FinTech industry, believes that blockchain technology opens many opportunities in a variety of areas, including FinTech and cryptocurrencies. With its primary focus being on financial companies, cryptocurrency wallets and decentralized exchanges among the others, Oraclize represents a strategic investment securing the development of the layer on top of which these financial applications are built.

“Oraclize provides an infrastructure tool essential for blockchain applications to grow and have a concrete impact,” said Natale Ferrara, director of digital identity SA. “I believe that our investment within Oraclize will support the talented team with its activities and ultimately benefit the blockchain ecosystem as a whole.”