Softbank, Baidu Lead $3 Million Funding for Ex-Googler’s Crypto Startup

This aggregated story was originally published on this site. Follow the link in the word Story at left to read the full article.

A team led by a former Google staffer is taking aim at the online advertising giant. Called Atlas Protocol, the startup believes that the data accumulating on blockchains today can be used to better market to internet users tomorrow, an idea that has already received validation from some of the biggest names in Asian business. Revealed exclusively to CoinDesk, Softbank China Venture Capital (SBCVC) has completed a $3 million equity seed round in Atlas. SBCVC is a venture arm of the Japan-based telecom and e-commerce giant. Other participants include BV (the venture charm of Chinese internet conglomerate, Baidu), Danhua Capital and Fenbushi Capital. Google, of course, earns the lion’s share of its money by gathering data about user behavior and using it to advertise to them all over the web, while users have very little control over how much data the company collects about them. As such, Atlas is