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Beam Token Attracts Investment From Japanese Recruiting Company

12:21 19/02/2019
Beam Token For Protecting Privacy Attracts New Investor

A recruiting company from Japan invested in an Israeli startup Beam, which launched its own cryptocurrency in early January, according to an official statement.

 

The Tokyo-based corporation Recruit conducted the deal using its own blockchain investment fund RSP Blockchain Tech Fund, which it founded last November. The fund has assets worth $25 million. However, the amount of the investment in the Beam startup has not been disclosed, as well as the terms of the partnership.

 

The description of the RSP Blockchain Tech Fund says that the fund prefers to invest rather than purchase shares, and works with promising companies to find new technologies and business models.

 

Recruit is interested in applying blockchain in corporate activities, however, possible leaks of confidential transaction data are the main concerns of the company. It is noted that the Beam blockchain can prevent disclosure of such information to third parties and protect personal data of users.

 

According to the Beam developers, full control over personal data will belong to customers. Users will decide what kind of personal information should be disclosed and to whom.

 

The Beam project was developed on the basis of Bitcoin with the Mimblewimble protocol, which focuses on users' privacy and scalability of the Bitcoin network. In addition, the Israeli startup integrated a technology called Dandelion, which hides information about traffic activity.

 

Beam experts will soon release two projects in addition to the existing network, too. The first one, Lumini, connects the Beam network with Ethereum, the second one, called Beam Lightning, allows to make payments through the Lightning Network.

 

Previously, the Virginia pension fund invested in a blockchain company.

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