In order to continue on its path towards placing power back in the hands of end-users, HTC led a Series A round of financing that allowed Bitmark to gather $3 million. Other investors included Alibaba, WI Harper and DCG. Bitmark is a company that secures digital property rights using distributed ledger technology (DLT). The information was released by Bitmark in a press release on September 3rd.
The Series A funding will allow Bitmark to launch a music royalties system alongside KKBOX, the largest music streaming service in Asia. In addition to it, Bitmark partnered with UC Berkeley, H2, and Pfizer, in order to show how it is possible to improve different sectors by implementing property rights.
Bitmark is also working with firms around the world securing digital property rights, personal data, cryptocurrencies, music rights and even digital artworks. All the information can be simply stored in public or private blockchains, allowing firms to have full or partial access to specific data.
Phil Chen, HTC’s Decentralized Chief Officer, mentioned about this investment:
“HTC’s investments in blockchain technology are foundational to our strategy of placing power back in the hands of end-users around the world. Bitmark’s system for digital property rights greatly expands the promise of blockchain technology by assigning unique ownership for digital assets of all types.”
He went on saying that this is a very important step in order to support the growing blockchain ecosystem, which they expect to succeed globally.
There are other features that make Bitmark unique. It provides developer SDK for global, low-cost registration and transfer of digital properties, it has been live since 2016, it does not require a token for access and it works with a proof-of-work (PoW) public blockchain.
Bitmark’s CEO Sean Moss-Pultz considers that digital property rights would allow the Internet to enable a more inclusive economy around the world. Through the support of these investors, including HTC, it will be possible for the company to reach its goals easier and faster.