Yesterday Japanese company Recruit
announced they’ve invested in the Provenance blockchain. Provenance is a loan platform developed by Mike Cagney, the controversial founder of student loan company SoFi which raised a billion from SoftBank. The announcement revealed that investment bank Jefferies is also an investor.
The
Provenance blockchain is used to buy and sell loans, as well as managing loan repayments. It also provides proof of ownership and clarity concerning loan securities. The public permissioned blockchain relies on the “Hash” token.
Recruit, which has an annual turnover of over $19 billion, owns both Indeed and Glassdoor recruitment websites. The investment was made by Recruit’s investment arm, RSP Blockchain Tech Fund.
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