8/23/2017, 10:21 AM (Source: TeleTrader)
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Fosun leads Onchain's funding round

Blockchain is "a trust machine," disrupting the reliance of companies on centralized institutions, Da Hongfei, chief executive of Onchain, said on Wednesday. The startup revealed China's Fosun Group was the main investor last month in its latest funding round, worth at least several million dollars, but neither side provided accurate figures.

The developer of blockchain solutions has been founded in 2014. Its registered name is Shanghai Distributed Technologies Co. Ltd. It is active in open source distributed networks architecture (DNA). Onchain said it enables operations between blockchains and online support.

Da added he believes in transparency in the sector. The announcement revealed the financing package will be used for a boost to identity chain, a privacy and management tool, but also for improvements in clearance and digital assets.

Baha Breaking News (BBN) / IT