Beijing, China, 13th August, 2021,
Web 3 Advertising protocol, Parami Protocol The successful $3 million funding round was designed to bolster the privacy measures for user data on blockchain technologies and Web 3.0 platforms. This initiative attracted high-profile blockchain investment groups, including NGC Ventures, CMS Holdings, and Genesis Block Ventures, alongside other notable entities.
Additional contributors to this financial round included notable names like Crypto Discover, DCI Capital, and AU21 Capital, among others committed to the firm's vision.
The allocated funds will focus on building strong privacy protocols within blockchains, empowering users with control over their personal data and ensuring a seamless user experience. Parami’s strategic vision aims to further the Web 3.0 ideals, titled 'AD 3.0', fostering secure and private blockchain interactions.
Standing out as a trailblazer, Parami continues to forge a path in the field of personal data and privacy protocols on blockchain platforms, ensuring users maintain control over their personal identity. Leslie, co-founder of GBV, expressed enthusiasm for Parami’s privacy goals, emphasizing their pioneering work.
“Blockchain’s inherent privacy-preserving qualities offer exciting possibilities for connecting people and organizations. Parami is at the forefront of this, and we're thrilled to collaborate with them to advance innovation in this space.”
Since its inception in 2021, Parami has been empowering users with choices for managing their data through its AD 3.0 paradigm—an innovative framework utilizing blockchain within Web 3.0 applications to foster a human-centered and privacy-focused network.
Constructed on the Substrate framework, Parami's data privacy network integrates with Polkadot and Kusama parachains, delivering democratized privacy solutions across these ecosystems.
In recent years, privacy concerns have surged to the forefront for digital applications, with major platforms like Facebook under scrutiny for failing to protect user identities. While blockchain ensures anonymous transactions, trails can still compromise privacy, and many companies profit from user data without sharing gains.
To address these pressing issues, Parami’s AD 3.0 model introduces a trustless protocol, a crucial step toward widespread Web 3.0 adoption, as highlighted by Dan Matuszewski, CEO of CMS Holdings.
“Parami is an instrumental force within the Web 3.0 landscape. With their dynamic team and revolutionary technology, they are set to usher in an evolved internet, and we are eager to support this remarkable venture,” he added.
Embracing Decentralized Identity (DID) networks and zero-knowledge proofs (ZKP), Parami offers robust protection for user privacy and identity. The Parami DID system, fortified by blockchain, empowers users to reimagine the value of their engagement, facilitating mutually beneficial exchanges with advertisers.
In a promising alliance, Bilal Junaid from Genblock Capital applauded the initiative to fuel Parami’s project, recognizing the significance of incentivizing user participation. Junaid foresees token rewards as pivotal to the decentralized identity future, driving early investment in Parami’s vision.
“The innovation of rewarding attention and data within Parami presents a compelling proposition we find previously overlooked in the DID space,” he said, appreciating the ecosystem’s yield farming incentivization for individual engagement.
Contacts
- Mora ZHU
- mora@parami.io
