- Authtrail successfully completes it’s round of fundings.
- Overall amount bagged is $3.6 million in this round.
- Seeks to use these funds to further develop and establish itself.
So far in the crypto industry, ever since the blockchain came into play, each year witnesses a new attribute linked towards the development and betterment of the blockchains.
Apart from becoming a direct product, many new service oriented aiding attributes have been developed and are on profuse developments both for the project as well as their based blockchain.
Clearly seeking where a project tends to lag, developers are ahead to another level developing a service product in aid for not only that particular project but in mind with all such projects with the same issues.
In such a case, one such service product developed very recently would be towards the concept of data integration for an enterprise.
The need for Authtrail
In spite of all this, statistics show that an enterprise suffers adversely due to poor data management. Data currently transfers into money in this era. And so, a firm needs to invest such that they could gain massive data and at times to form a data pool individually. SUch may be the need at times.
On the other hand, not all the data acquired will be useful for the firm. Indeed, this results in losses as huge amounts are being spent towards data acquisition. Inefficient data management and untrustable data results in losses of approximately more than 15% of the overall yearly revenue for an establishment.
Therefore, here comes to play a completely Web3 ecosystem based solution, the Authtrail. The Authtrail functions as a sphere interlinking between the operations of the firm and managing the required blockchain data. Also, it ensures the data are completely secure, reliable and traceable too.
Moreover, the Authtrail is actually based on the Moonbeam network, which in turn operates upon the Polkadot (DOT) network.
$3.6 Million Fundings
Accordingly, Authtrail conducted a massive funding round recently. With the end of the round of funding, Authtrail successfully bagged in an overall funding of $3.6 million. Authtrail officially revealed the news on December 15.
In addition, the team from Authtrail terms that they will be using these fundings towards complete development of their product.
The funds will be invested upon further technological developments, building up both the business and their enterprise globally.
Also the CEO of Authtrail, Matjaz Sobocan terms that Authtrail will help firms and establishments with quality, secured and refined data for blockchain implementations at extremely lower costs.