We are elated today to announce a new partnership between Dispatch and Fenbushi Digital, one of Asia’s leading firms working to invest in and promote innovation in the blockchain space.
This new partnership includes an investment from Fenbushi Digital that is leading the next round of financing for our $6 million round. In addition, Fenbushi Digital will help us going forward to pursue blockchain opportunities in Asia — one of the world’s most vibrant regions for blockchain adoption right now.
“Dispatch is in an exceptional position to help entrepreneurs and enterprises in multiple industries as they create impactful, data-intensive blockchain applications,” said Bo Shen, Founding Partner at Fenbushi. “The Dispatch team and their data-centric protocol allow us to work together to build a global community and cultivate ideas into real-world blockchain solutions.”
Dispatch has developed a number of technologies that piqued Fenbushi’s interest, with more on the way in 2019. In particular, we’re excited about Zero-Knowledge Analytics, a data-management solution we’re developing that stores encrypted data in the Dispatch Artifacts Network (DAN). It will enable companies of all sizes to comply with numerous regulations and responsibly store personal information, greatly de-risking the centralized data that businesses store today.
“Dispatch is excited to have both an investment and collaboration with Fenbushi as our partner in Asia expanding our global reach to an important part of our blockchain community,” said Dispatch CEO, Matt McGraw. “We share the same vision, and our team at Dispatch is thrilled to quickly contribute to the great community that Fenbushi has already built.”
To date, Dispatch has already launched our test network, including smart-contract functionality, a fully documented developer API, and backward compatibility with existing distributed applications written for Ethereum. A full launch of our main network is expected by year end.
Upon full launch, the Dispatch protocol will provide a powerful distributed ledger protocol for developing data-centric enterprise applications with strong analytics. It’s built upon the innovative consensus algorithm called Delegated Asynchronous Proof of Stake (DAPoS), invented by our Co-Founder and Chief Technical Officer Zane Witherspoon.
Founded in 2017, Fenbushi Digital has brought together some of the earliest pioneers in the blockchain industry to invest in leading decentralized projects leveraging novel token economic models and disrupting a wide range of industries. Fenbushi Digital positions itself as a long-term strategic partner to its projects, typically taking an active role to work with its projects and building unique, decentralized ecosystems.
It’s also a member of gf.network, which unites the most influential blockchain investors around the globe with a combined portfolio of over 100 leading blockchain projects to share resources and generate synergies to more effectively build the global blockchain ecosystem.
At Dispatch, we’re eager to get to work alongside Fenbushi in bringing distributed-ledger technology to new industries and users. They are exactly the sort of partner we need to help this technology realize its world-changing potential.