Funding round secures $1.5M for blockchain-based data sharing platform Blockfenders

SiliconAngle reports that California-based startup Blockfenders has landed $1.5 million in pre-seed funding that will be allocated toward its blockchain-based platform for secure data sharing. Organizations could leverage Blockfenders' data sharing platform to facilitate the accelerated deployment of data analytics initiatives through a software workflow for inter-organizational records sharing. Meanwhile, blockchain and data masking technologies are being used by Blockfenders' platform to bolster data security. Blockfenders is also utilizing end-to-end encryption for processed databases, while smart contracts are being used by the platform for limiting shared dataset access. "We are democratizing data sharing by enabling business, research, and non-technical folks to share data from their own environment without writing any code or worrying about privacy, security, and implementation. Now organizations can easily establish a single source of truth of data and share data in a fine-grained manner while meeting stringent regulations and compliances," said Blockfenders co-founder and Chief Technology Officer Niranjan Ingale.