An Ex-Google employee, along with a group of co-workers, has revealed his plans to launch a startup.
The start-up, named Atlas Protocol, has been planned with the vision to make future use of the data accumulating on the blockchain in the present day. A handful of big shots of the Asian Business Markets have already issued approvals regarding the idea.
As per the recent reports, Softbank China Venture Capital (SBCVC), a venture capital and private equity firm that manages both USD and RMB funds, has already raised $3 million. The amount represents the initial equity collection for the newly assembled startup, Atlas. In addition to SBCVC, the other participants include Fenbushi Capital, Danhua Capital and BV. BV represents one of the major attractions of the giant Chinese internet conglomerate, Baidu.
Team Atlas has an intention to outrun Google with an effort to integrate the internet and blockchain platforms. More so, it is because the team consists of people who are well furnished with the contents of the Google playbook.
It is quite natural on the part of users to be worried about their personal details being copied and saved on the blockchain platform. This comes after the great buzz created over the data breach by a credit rating agency, Equifax and Facebook’s Cambridge Analytica scandal.
The startup is dedicated towards overcoming all such flaws. The Atlas Protocol promises its users to have full control of their personal data and that, they would share only what they opt-in to share. According to a statement, wherein the startup shares it’s idea as to how to abide by Europe’s new General Data Protection Regulation (GDPR),
“BEING IMPLEMENTED ON THE BLOCKCHAIN, ATLAS PROTOCOL WILL BE FULLY TRANSPARENT FOR USERS, IN CONTRAST TO THE ‘DATA BLACKHOLE’ SETUP THAT CHARACTERIZES THE CURRENT INDUSTRY LANDSCAPE DOMINATED BY DIGITAL GIANTS.”
The start-up plans suggest that it intends to come up with a beta release next year. Meanwhile, the crypto community and its members eagerly await the summer season.