Yesterday the advertising and media-oriented blockchain MadNetwork announced it is absorbing the blockchain protocol Po.et, which focuses on content monetization. Collectively the firms will target identity validation to enable content and monetization use cases. Founded in 2017, MadNetwork is backed by investors Blockchange and Fenbushi. The latter is China’s first venture capital firm that invests exclusively in blockchain firms.
“MadNetwork is building the fundamental layer that almost all enterprise solutions need: the ability to validate the identity of anything in the digital world; whether its people, assets, organizations or devices,” said Adam Helfgott, CEO of MadNetwork Adam Helfgott. “Absorbing the Po.et team and resources will help us achieve our shared vision of a more transparent, fair, and accountable web that much more quickly.”
Founded in 2017, initially Po.et built open-source software for content timestamps and data attribution using Bitcoin’s blockchain. More recently, it started using Ethereum but experienced significant issues such as high transaction expenses, storage, and scaling.
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