Quadrant Protocol raises US$15mil via private token sale
By Digital News Asia July 13, 2018
- Partners include Malaysia’s Coin Capital, Indonesia’s Alpha JWC Ventures, Singapore’s NRF
- Roadmap includes development of a network and user base of AI and data companies
QUADRANT Protocol, a blueprint for mapping decentralised data, announced on July 12 that it has concluded partnerships with more than 30 backers representing 15 countries from around the world.
The deals follow the conclusion of Quadrant’s private token sale, which raised US$15 million (RM60.43 million) in June.
These partnerships, which include Malaysia’s Coin Capital, China’s Zeroth.AI, Switzerland’s Block0, Indonesia’s Alpha JWC Ventures, Singapore’s NRF, Wavemaker and KeneBc will help ensure the long-term success and adoption of Quadrant’s data protocol.
“The support of these global partners is a strong validation of Quadrant Protocol’s platform and roadmap,” said Quadrant Protocol founder Mike Davie.
“A common thread between our partners is their commitment to build local communities around Quadrant and connect us to AI and data projects and companies.”
These partnerships are expected to add additional momentum to Quadrant’s recent success. The company’s near-term roadmap includes further development of a network and user base of AI and data companies around the world, allowing real-world solutions for mapping decentralised data to be brought to market.
One such partnership with Alphablock Indonesia is set to forge inroads into the rapidly growing data marketplaces in various countries in Asia.
"Quadrant Protocol is revolutionary, we are fond of their business model and experienced team on data service authenticity and provenance. Quadrant stamps solve many issues not just by differentiating databases, but also by stamping original data ownership. There will be a big market potential in Indonesia," said Alphablock Indonesia founder Maxie Soetandi.
The partnership will focus on educating the Indonesian data and technology communities through forums and conferences.
“Quadrant protocol will add a new commodity to the market: the data commodity,” said VB Capital co-founder and CEO Kyle Nguyen, in agreement with the significance of a trustable data community.
“We love the Quadrant team. They are energetic, knowledgeable, and the team has put their love and effort into the project. VB Capital is a foundation at the frontier of blockchain technology and we are excited to be part of this project.”
VB Capital is a global venture fund investing in blockchain technology. They invest in companies that can create a better world by using the blockchain.
Quadrant Protocol’s announcement of its international partners comes on the heels of an agreement to collaborate with Singapore’s Info-communications Media Development Authority (IMDA) to implement a commercial AI and micro-services layer on DataStreamX, powered by Quadrant Protocol.