A world renowned protocol that allows users to geo-locate their digital assets anywhere around the world on the map, Platin, has announced its investment in the EOS (EOS) Global’s EOS ecosystem fund.
This was made known in a statement by the world’s leading decentralized Proof-of-Location (PoL) protocol, Platin, on January 30, where it was revealed that the investment secured is a partnership fund of Block.one’s EOS VC investment unit.
The collaboration will henceforth permit Platin to build on Block.one’s EOSIO blockchain software, and as well safeguard the investment which comes after displaying the potency of its innovative PoL protocol at the San Francisco leg of Block.one’s EOS Global Hackathon series.
Through the investment, Platin’s PoL protocol popularity will gain more traction across the world. While the protocol has proven its practicability in fields like commercial airdrops, humanitarian aid, and supply chain, the investment is sure another one that came in handy for the company.
With much excitement at the deal, Dr. Lionel Wolberger, the CTO of Platin said:
“Proof-of-Location is an important technology and an integral component of the blockchain infrastructure of the future. We are thrilled that Platin and its one-of-a-kind protocol is joining the EOSIO ecosystem.”
While the investment is seen as one which will give Platin access to classy ecosystem projects and resources available to EOSIO-related organizations, Wolberger, in his comment added that development is undoubtedly an important one for Platin.
“The investment from EOS Global is an important step for Platin as we seek to integrate our Proof-of-Location technology as a key component of a sustainable and robust EOSIO ecosystem,” Wolberger added.
The CEO of Platin, Allon Mason, in his own assertion declared EOS (EOS) as a potent smart contract engine that has the capability to execute Putin’s program.
“We consider EOSIO a new, powerful smart contract engine, with robust consensus and community governance models based on Dan Larimer’s long experience in the space. Being part of the EOS VC portfolio of companies will accelerate Platin’s Proof-of-Location integrations with EOSIO-based DAPPs and will also assist our overall business strategy and execution,” Mason stated.
Platin protocol leverages privacy preserving zero knowledge proofs to offer geo-location service that makes every digital asset have a fixed location in the physical space. This allows individuals, companies, as well as groups to interact and move with their digital assets in a reformed way.
Lawal Khalid Abiola is a creative writer, entrepreneur and innovation lover. He contributes to platforms like ThriveGlobal, and also an editor at PRKnot, a Public Relation firm at its threshold.
Lawal Khalid Abiola is an avid lover of Cryptocurrency.