CoinDesk reports that Trustatom has secured $100,000 in seed capital to fund the development of its CredyCo solution.

The funding was contributed by a group of investors including angel investor, Brian Cartmell and Gyft co-Founder, Vinny Lingham.

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Trustatom’s mobile workflow technology aims to employ cryptography concepts for forge-proof critical action authorization. It does not have access to private user information and says to offer its authentication solution free of charge.

Using Trustatom’s infrastructure, the CredyCo initiative would adapt blockchain technology and smart contract concepts to automate the due diligence process for companies seeking funding. CEO Yurii Rashkovskii described that companies seeking funding will get “a strong connection to identities and their credentials and just about anything that can be signed by a third party about you.”

Critical information, often buried in documents, would be privately and securely verified, thereby reducing the time spent on deal-making and increasing the number of successful deals.

For a detailed list of recent investment and M&A activity in the crypto industry, please visit the DC Magnates Crypto Deal Table.