Ireland-based cryptocurrency company Logos Network has raised $3 million in a seed funding for its blockchain-based payment system, the company said on Thursday.
Logos Network entered the highly competitive blockchain payment sector at the beginning of the year. The company’s system is still under development and will target micro transactions as well as large-scale business-to-business (B2B) financial dealings.
The major investors in the funding round were ZhenFund, which typically is very active in backing Chinese projects, the US Digital Currency Group as well as INBlockchain, and Blockwater Capital. Global Blockchain Innovative Capital (GBIC), AlphaBlock Capital, and AlphaCoin Fund also backed the project.
“If we are going to truly realize the disruptive potential of distributed ledger in payment applications, we need to remove the hurdles to adoption — namely speed, volume, cost and security,” M...
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