AIKON, a blockchain technology developer, has closed a $2m round of funding, alongside the launch of its Open Rights Exchange Protocol.
The company has raised the funds from OVO Fund and a selection of angel investors spanning the US, Japan and Europe.
Open Rights Exchange (ORE) supports the monetisation of APIs in a decentralised network. The protocol will help to remove issues for developers with legal complexity, regulatory labyrinths, resource restrictions, and geographic limitations when trying to buy or sell APIs.
This protocol also helps to provide with a secure system to receive payments for APIs without the need for accountants or attorneys. The company handles the end-to-end processes for the pay-as-you-go terms for the APIs.
AIKON is hoping to develop a global API marketplace on the blockchain, which will serve as a new ‘economic operating system’, according to the company.
AIKON has also signed on three companies for the private alpha testing. These companies are: AI computing solution provider HADRON.cloud, food identification and nutrition information AI Tasty Time and video hosting and monetisation vendor Gbox.
AIKON co-founder Marc Blinder said, “We’re trying to create a system where equal treatment is built into the fabric of the digital economy. That’s the promise of blockchain – that everyone from the smallest teams to the biggest companies get access to the same data, which means they have the same opportunity to build something amazing.
“We designed the ORE Protocol to foster a truly fair and transparent decentralized economy that anyone can contribute to and profit from, no matter who they are or where they live.”
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