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Privacy Blockchain Project Nillion Raises $25M to Expand 'Blind Computing'
Nillion builds its service around the concept of "blind computing," the processing of data without having to reveal its contents
Updated Oct 30, 2024, 3:57 p.m. Published Oct 30, 2024, 3:57 p.m.
- Nillion has raised $25 million in a funding round led by Hack VC and including backing from angel investors and strategic contributors from projects including Arbitrum, Worldcoin and Sei.
- Among Nillion's partners are blockchain networks NEAR, Aptos, Arbitrum, Ritual and others.
- Nillion is attempting to appeal to projects at the intersection of blockchain and AI, where huge amounts of data need to be shared and stored securely.
Privacy-focused blockchain project Nillion has raised $25 million in a funding round led by Hack VC and including backing from angel investors and strategic contributors from projects including Arbitrum, Worldcoin and Sei.
Nillion builds its service around the concept of "blind computing," the processing of data without having to reveal its contents, which allows for the creation of an ecosystem of applications co-operating without having to reveal sensitive information.
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Among Nillion's partners are blockchain networks NEAR, Aptos, Arbitrum, Ritual and others, according to an announcement shared with CoinDesk on Wednesday.
Nillion is attempting to appeal to projects at the intersection of blockchain and artificial intelligene (AI), where huge amounts of data need to be shared and stored securely. Blockchain converges with AI through attempting to decentralize ownership and harnessing of the data required to inform AI engines, thus preventing it being dominated by a handful of centralized entities.
"It is imperative that data has the upgraded rails to handle the growing needs of secure storage and computation in this brave new world," Nillion said in its announcement.
Read More: Privacy as a Fundamental Human Right
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