MaidSafe, the Troon-based start-up developing a “decentralised, secure approach to the Internet”, is launching an equity fund-raising round with BnkToTheFuture, an online investment platform.
The round follows the recent launch of an alpha version of its network, SAFE (Secure Access for Everyone). Funding will enable MaidSafe to recruit more developers to build the network’s features and functionality, and to grow awareness among application developers and strategic partners.
‘Funding without ceding control’
“We are incredibly excited to be launching this investment round with BnkToTheFuture, as it gives us the ability to secure funding without ceding control of our strategy and roadmap,” said David Irvine, founder and chief executive of MaidSafe.
“Given all of the frustrations with current Internet services we believe MaidSafe, together with the SAFE network community, is ideally positioned to offer a secure and more efficient alternative, which will create compelling opportunities for investors interested in this global opportunity.”
Removing need for decentralised servers
With SAFE, users’ data is encrypted and obfuscated; algorithms then scatter the unrecognisable chunks randomly across the decentralised platform.
Combined with a novel authentication mechanism where users are unknown to anyone and require no permission to join, MaidSafe’s approach removes the need for the centralised servers inherent in the World Wide Web today.
MaidSafe developing crypto-currency
MaidSafe is also developing a crypto-currency, Safecoin, which will be used as a mechanism to reward users and application developers.
BnkToTheFuture is a platform that enables qualifying investors to invest in financial innovations and technology. The MaidSafe pitch will go live on BnkToTheFuture.com on 12 September and will be open for 30 days.