Flash News: OKX Ventures Announces Strategic Investment in Privasea, a Data Infrastructure Platform Powered by DePIN and AI Technology

SINGAPORE, April 16, 2024 /PRNewswire/ -- OKX Ventures, the investment arm of leading crypto exchange and Web3 technology company OKX, has issued updates for April 16, 2024.

OKX Ventures Announces Strategic Investment in Privasea, a Data Infrastructure Platform Powered by DePIN and AI Technology

OKX Ventures is pleased to announce that it has invested in Privasea, a data infrastructure platform. Privasea allows multiple parties to collaborate without revealing sensitive information, ensuring the privacy and security of data during the AI computation process.

Recent news about tech giants harnessing data for AI development highlights the critical role of quality information in making informed decisions. Privasea stands out by utilizing Fully Homomorphic Encryption (FHE) technology, enabling computations on encrypted data. The platform also leverages machine learning to enhance its performance over time. Its Testnet, now live, can be developed based on several models, such as prediction and e-mail classifier.

OKX Ventures Founder Dora Yue said: "Data protection today is largely implemented through organizational, technological and physical safeguards. Still, there are risks of financial threats or unnecessary involvement by users' identities and hassles from unexpected parties. We are pleased that Privasea is committed to these challenges."

Dora also highlighted the platform's potential in bridging the gap between user data and distributed computing power, simplifying interactions and stimulating computational power for diverse domains. "We eagerly anticipate the new user experiences that the Privasea AI network will bring later this year, such as secure file sharing, privacy-conscious facial recognition and a streamlined KYC process," she added. "We are equally excited about the potential of AI modeling for effective decision-making in the upcoming AI-powered Web3 era."

For more information, please visit the OKX Support Center.

For further information, please contact:
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About OKX Ventures

OKX Ventures is the investment arm of the second-largest crypto exchange by trading volume and Web3 technology company OKX, with an initial capital commitment of USD 100 million. It focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.

Through its commitment to supporting entrepreneurs who contribute to the development of the blockchain industry, OKX Ventures helps build innovative companies and brings global resources and historical experience to blockchain projects.

Find out more about OKX Ventures here.

Disclaimer

SOURCE OKX