San Francisco based distributed ledger platform for structured data has raised a $3m Series Seed from General Catalyst, Greylock, Lightspeed, Pantera, Digital Currency Group, SV Angel, and others.
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Dirt Protocol raises $3 million for a trusted platform built on blockchain
“I have been involved with blockchain projects since 2013. Five years ago, there was just Bitcoin,” said Yin Wu, CEO of Dirt Protocol, in a statement. “Now there is an entire ecosystem with alternative currencies and dApps (decentralized apps). But in this new decentralized world we still rely on centralized sources of truth — Twitter determines who is real and CoinMarketCap determines the price of a cryptocurrency. There needs to be a way to determine what is true and build trust without a centralized arbiter.” She added, “We are building Dirt to solve this problem. Dirt is a protocol that crowdsources trusted information which rewards honesty and penalizes lying. Without relying on any single curator, Dirt is doing to data what Wikipedia did to the encyclopedia.”
