Trustatom Raises $100K in Funding to Help Other Startups Get Funding

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.

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 Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term technology and Smart Contract Smart Contract A smart contract is a piece of software that automatically executes a pre-determined set of actions when a certain set of criteria or met. One of the key tenets of smart contracts is their ability to perform credible transactions without third parties and are self-executing, with their conditions written into the lines of code that form themAdditionally, these transactions are both trackable and irreversible. For example, a smart contract could be used to give royalty payouts to a musical artist A smart contract is a piece of software that automatically executes a pre-determined set of actions when a certain set of criteria or met. One of the key tenets of smart contracts is their ability to perform credible transactions without third parties and are self-executing, with their conditions written into the lines of code that form themAdditionally, these transactions are both trackable and irreversible. For example, a smart contract could be used to give royalty payouts to a musical artist Read this Term 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.

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