OKX Ventures makes an investment in Privasea

OKX Ventures carries out an investment in Privasea, a company that enables various players to associate without the requirement of divulging critical information, ascertaining that the data remains safe and private while the computation procedure is underway. Incidentally, Privasea is a data framework platform.

The big players in the technology space securing data for AI building speak of the significance of relevant information for making educated decisions. Privasea is different because it uses fully homomorphic encryption (FHE) technology, which allows computations on encrypted data. Added to that, the platform utilizes machine learning to improve its abilities. Its testnet is active, so it is possible to build multiple modules like prediction and email classifier.

According to the founder of OKX Ventures, Dora Yue, data safeguarding is mainly executed via organizational, technological, and physical protection. However, financial risks and unrequired engagement by user identification still exist.

In addition, Dora stressed the platform’s ability to link the space between user data and allocated computing abilities, making interactions simple and encouraging computational strength related to various sectors. In her words, they await the fresh user exposure that the Privasea AI network will introduce in the upcoming days. 

These will include harnessing file sharing, privacy-conscious facial recognition, and a narrowed-down KYC procedure. They also look forward to understanding the power of AI modeling for efficient decision making in the forthcoming AI-boosted Web3 age.  

OKX Ventures is the investment wing of the parent company, OKX, which is the second biggest crypto exchange regarding trading volume and Web3 technology. The company was established with $100 million and is involved in scouring prospective blockchain projects and backing the creation of new-age blockchain technology.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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