HTC, Alibaba Lead $3M Fundraising for Bitmark

Asia Blockchain Review
September 13, 2019
HTC, Alibaba Lead $3M Fundraising for Bitmark

Major tech corporations HTC and Alibaba have joined a US$3 million fundraising round for Bitmark, a startup that secures digital property rights using blockchain technology, according to CoinTelegraph.

Bitmark to Expand Marketing Operations

Bitmark announced the Series A fundraising round’s success in a press release made public on September 3rd. According to the release, Taiwan’s HTC led the round along with Chinese e-commerce giant Alibaba, venture capital firm WI Harper, and Digital Currency Group, an investment company with a focus on cryptocurrencies and blockchain.

The release indicated that the US$3 million would be put to sales and marketing activities by Bitmark. Its clients include the likes of Asia’s largest music network KKBOX, pharmaceuticals giant Pfizer, and the University of California, Berkeley. 

Bitmark Seen as Gateway to Blockchain Development 

Phil Chen, Chief Officer for Decentralization at HTC, explained that the Taiwanese firm’s decision to join in the fundraising aligns with HTC’s desire to invest in blockchain technology.  

“Bitmark’s system for digital property rights greatly expands the promise of blockchain technology by assigning unique ownership for digital assets of all types,” said Chen, calling the technology “an important step in growing the blockchain ecosystem.”  

HTC has made clear its intentions to become blockchain friendly and offer crypto functionality to its users.  The phone maker is poised to release its second blockchain handset, the Exodus 1S, later this year. The Exodus 1S will reportedly become the world’s first smartphone with full node capability.

Source: cointelegraph.com


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