Blockchain Data Privacy Startup StrongSalt Secures $3 Million

StrongSalt, a California-based startup, has raised $3 million in a seed financing round from Valley Capital Partners, the company announced on Thursday.

With the freshly raised funds, the company is planning to develop its encryption platform-as-a-service for developers and enterprises.

Commenting on the Funding Round Funding Round Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business Read this Term, Ed Yu, founder and chief executive of StrongSalt, said: “Every data breach has one thing in common: the data was not encrypted. Existing current data management ecosystem is hackers delight causing trillions of dollars in damage to businesses while exposing consumers.”

“We are veterans in enterprise security technology who were tired of seeing the old ‘wall and alert’ model of security repeatedly fail businesses. We decided that instead of looking at the problem from the outside in, we would build privacy from inside out.”

Riding on the strict global privacy policy

With its services, StrongSalt targets companies that are facing concerns in managing data with the strengthening laws of the European Union's Global Data Protection Regulation (GDPR) and the California Consumer Protection Act (CCPA).

Its encryption solutions on the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term offer transparency of data and its storage by any enterprise, creating a trusted environment for both users and regulators.

“StrongSalt’s encryption solution is one of the most advanced and easily integrated systems we’ve seen,” said Raymond Choi, general partner at Valley Capital Partners. “Currently, businesses have to sacrifice security for usability. Because StrongSalt’s innovative platform allows for complete data searchability without giving up sensitive information, it’s taking the stress off data management from businesses who can ill afford to drop the ball from being hacked.”

The company’s API allows the developers to introduce privacy into existing applications and workflows. It APIs are also open for both permissioned and permissionless blockchains.

“StrongSalt is giving privacy back to consumers while making data accessible for businesses in a non-zero sum relationship. As the regulatory environment ramps up enforcement and forces business to conform to tightening laws, businesses won’t have an easy out if the technology isn’t viable or cost-effective,” Steve O’Hara, co-founder and general partner at Valley Capital Partners.