Blockchain Startup Tierion Raises $1 million Seed Round led by Blockchain Capital and Fenbushi Capital

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Blockchain startup Tierion has raised a $1 million seed round led by Blockchain Capital and Fenbushi Capital, with participation from Digital Currency Group. Tierion turns the Blockchain into a global platform for verifying the integrity of any data, file, or business process.

Tierion gives developers an API and tools for building applications that connect to the Blockchain – a worldwide network of computers that maintain a shared database. Once data is written to the Blockchain, it becomes part of a global permanent record that cannot be changed or deleted. The integrity of this data is secured by more computational power than the world’s top 1000 supercomputers combined.

“We’re thrilled with the creative uses we’ve seen for Tierion.” said Wayne Vaughan, Tierion’s CEO and Co-Founder. “At one end of the spectrum, one of the world’s largest healthcare companies is using Tierion to record the maintenance and usage history of industrial medical equipment. At the other end, we’re seeing a legal cannabis dispensary use Tierion to create immutable records of their inventory and transactions.”

At the heart of Tierion is scalable engine for cryptographically linking data to the Blockchain and generating Blockchain receipts. This process, called anchoring, enables millions of records to be connected to a single transaction on the Blockchain. Blockchain receipts can be shared with other systems and used to independently verify the integrity and authenticity of any file, data, or business process.

“Blockchain technology has tremendous potential beyond payments” said Bart Stephens, Managing Partner of Blockchain Capital. “Tierion’s platform gives any enterprise easy access to the Blockchain to verify any document or business process. This is a powerful tool for companies operating in a regulated environment like financial services, healthcare, insurance, or government services.”

“Tierion makes it easy for developers to integrate proof-of-existence and immutable records into existing applications. It’s an interesting approach that demonstrates the advantages of anchoring data to the Blockchain instead of storing data on the Blockchain.” said Vitalik Buterin, Ethereum founder and Partner at Fenbushi Capital.

Tierion and its partners have developed an open specification called Chainpoint for anchoring data to the Blockchain. Developers can use Tierion to build simple applications that notarize documents or more sophisticated applications that automate business processes and create an audit trail that can be verified using the Blockchain.

“We are excited to see the Tierion team leveraging the core innovation of Blockchain technology to secure data and ensure it cannot be tampered with.” said Barry Silbert, CEO of Digital Currency Group. “Their open protocol will enable those new to this technology to easily create data management tools to track the history of one of the most valuable assets of any organization – information.”

Companies are using Tierion to create applications in healthcare, insurance, financial services, and technology. Developers that want to learn more can visit http://Tierion.com and sign up for a free account.

About Richard Kastelein

Founder, Publisher and Editor in Chief of industry leading online publication, Blockchain News and co-founder and director at Blockchain Partners in London/Amsterdam/NYC. Kastelein is also an advisor with a number Blockchain startups doing ICOs including Humaniq.co where hs is interim CMO, DECENT.ch, Inchain, Chronobank, eGaas and others. He is regarded as one of the top journalists by the Blockchain and fintech communities – as is evident by his entry in the Top 150 Fintech journalists online and in the top 10 of the Blockchain Top 100 List.

As a prominent keynote presenter, he has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven, Bucharest, Nairobi, Tel Aviv, Manchester, Brussels, Barcelona etc, where he helped spread the cause for Blockchain technology and cryptocurrency and, consequently, has built a notable network in the scene.

He’s also a director of a Dutch foundation called The Hackitarians and has run innovation events in London, San Francisco, Berlin, Amsterdam and other cities around the world on topics such Blockchain, Health, Energy, Internet of Things, AI etc.

In 2013, the European Commission appointed him as an expert for overseeing financing for emerging startups as a part of the European Commission’s 90 billion euro Horizon 2020 project, created in Brussels to promote innovation as a driving force of job creation and business ventures across Europe. He has also worked as an external expert for Innovate UK since 2012, judging startups for the UK government.

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