Oasis Lab raises $45 million to Fund Privacy First Cloud Computing

Oasis Lab raises $45 million to Fund Privacy First Cloud Computing

A cloud computing startup, Oasis Labs, from Berkeley California has raised $45 million from big players in venture capital and cryptocurrency investing such as Binance, Electric Capital, Accel, Foundation Capital and others to fund its privacy first cloud computing in blockchain.

Oasis Labs has raised this money to design a platform that will overcome the security and performance issues that have held back the adoption of blockchain technology. The aim is to make blockchain technology more accessible and usable for a broader audience.

The project and the startup are led by Dawn Song, who states that Blockchain is revolutionary but a lot of companies have concerns about security, privacy, and performance which is what Oasis Labs aims to improve. She adds,

The Oasis platform aims to give users control over their data, and at the same time deliver superior performance and privacy capabilities. Our goal is to build the scalable and secure decentralized internet that puts users first.

A lot of the investors have spoken out positively for Oasis Labs. Fred Ehrsam, co-founder of Coinbase that has invested in Oasis Labs states,

It’s exciting to see talented people like Dawn and her team working on ways to transition the internet away from data silos and towards a world with more responsible ways to share and own your data.

Jake Flomenberg, partner at Accel states,

Oasis Labs is forging a new path by giving people control over their data while delivering a high-performance blockchain platform that will reshape the future of the cloud.

Oasis Labs has asked developers to apply for access to their private testnet. Oasis Labs co-founder and CTO Raymond Cheng stated

Our team has been hard at work building the platform for blockchain’s most meaningful applications. The next step is getting our product in the hands of developers who align with our mission and can help inform the evolution of the platform as they build applications upon it. We can’t wait to show them what we’ve been up to.

Song also adds that since their platform is compatible with ethereum, it will make the transition easier for any developer that is accustomed to present tools.

This positive support from the investors, as well as Oasis Labs’ previous successful experience in open source projects such as those with Uber and research groups at MIT and UC Berkeley, show that they are likely to be successful in expanding the use of Blockchain.

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Pallavi Janiani

Pallavi Janiani

Content Writer
I am studying Business and psychology at the university of Minnesota. Apart from learning about how the economy and the human mind works, I spend my time dancing with my bollywood fusion team, reading, writing, traveling, usually with a cup of coffee in my hand.