The Elixxir blockchain – launched by cryptographer David Chaum – has announced strategic investments from lead players in the blockchain industry. H&D Company Pte Ltd, a Singapore-based entity and Chris Larsen, a leading privacy advocate, and Ripple co-founder, have emerged as seed investors in the project.
The investments come after years of platform architecture design in “stealth mode” dating back to 2015, with specific development on the Elixxir project beginning in early 2016. The funding comes from leaders both in Asia and the United States who share a common vision of a blockchain platform capable of supporting confidential and secure communication of sensitive financial information at the scale required for mainstream adoption.
The Elixxir design is capable of processing hundreds of thousands of confidential, quantum-resistant transactions in a matter of seconds. The Elixxir blockchain can also operate at a fraction of the energy of the bitcoin, addressing concerns over the energy consumption of the bitcoin network.
H&D Company Pte Ltd spoke enthusiastically about the investment, “H&D Company Pte Ltd and Elixxir are working together to give everyone the opportunity to build wealth by investing in products that are currently out of reach. We value David Chaum’s experience and innovations in cryptography and shared vision to create a more vibrant and sustainable future.”
Echoing a similar sentiment, Larsen said, “David Chaum has been a defender of privacy in the digital world for almost forty years. I am proud to be an early backer of Elixxir and look forward to seeing this consumer-facing blockchain open the door to secure use by millions of individuals in their daily lives.”
Within just 10 days of Elixxir’s launch, over 1,500 interested parties signed up to run Elixxir network nodes, while over 500 developers declared an interest in developing decentralized applications on Elixxir.
Elixxir’s Founder, Dr. David Chaum
David Chaum is a serial entrepreneur who first proposed the idea of blockchain technology in 1982 while a graduate student at the University of California Berkeley. Chaum is widely recognized as the inventor of digital cash, is a renowned expert in cryptography and secure election systems, and is a leading proponent of blockchain technology. Chaum also founded the International Association for Cryptologic Research, the cryptography group at the Center for Mathematics and Computer Science in Amsterdam, DigiCash (issuer of eCash cyberbucks and fiat-backed digital currencies in the 90’s), the Voting Systems Institute and the Perspectiva Fund.