Oasis Labs recently secured partnerships with a16z crypto and other notable VC investors to launch the Oasis Startup Hub. The firm plans to use the Oasis Startup Hub as an incubator for developing privacy-first computing on the blockchain.
Oasis Labs: Pursuing Privacy-First Computing on the Blockchain
The company announced the partnership deal at the SF Blockchain Week Epicenter on Monday (October 8th, 2018). According to a press release published by PR Newswire, the other partners joining a16z crypto are Polychain Capital, Pantera Capital, Accel, and Binance Labs.
Together, the partnership will strive to create a robust ecosystem that allows for fast-paced capacity building efforts in privacy-computing. Thus, emphasis will be on both the technical and commercial aspects of the initiative in the form of expert guidance from experienced investors and access to innovative technological advancements.
Several Partners Jumping on the Oasis Startup Hub Train
Commenting on the value proposition of the Oasis Startup Hub, Oasis Labs CEO Dr. Dawn Song said:
We’ve seen strong interest in our private testnet from companies and developers who want to build scalable applications that protect user data and put privacy first, and are constrained by existing platforms.
According to Paul Veradittakit of Pantera Capital, Oasis possesses the requisite technical and commercial expertise to achieve their set goals. Commenting further, Veradittakit said that the partnership would create an enabling environment for the development of scalable, privacy-first, blockchain-based solutions.
Already, there are several companies signed up to the Oasis Startup Hub project. Many of these companies are reportedly working on applications such as blockchain-based credit scoring platforms and decentralized data hubs for AI.
Andreessen Horowitz Betting Big on Cryptocurrency and Blockchain Technology
For Andreessen Horowitz, its partnership with Oasis Labs is yet another pointer to the VC firm’s commitment to expanding the utility potential of the emerging blockchain technology industry. Back in mid-2018, the company raised $300 million for its dedicated cryptocurrency fund – a16z crypto.
The cryptocurrency fund focuses on non-speculative use cases for blockchain technology. Recently, Live Bitcoin News reported that Yale University was one of the investors in a16z crypto.
What do you think about Oasis Labs’ drive to create robust privacy-first computing protocols that run on blockchain technology? Let us know your thoughts in the comment section below.
Images courtesy of Oasis Labs and Shutterstock.