Oasis Labs raises US$45million to launch cloud computing on blockchain

Oasis Labs today announced it has raised US$45million to design a platform that overcomes performance, security and privacy limitations that have hampered blockchain adoption to date.

The company has garnered investment support from a wide spectrum of the blockchain ecosystem including venture capital, crypto funds and hardware manufacturers.

‘Reshaping the future of the cloud’

“Today’s internet is experiencing significant growing pains when it comes to providing effective security and privacy protections, which is only compounded by the rise of data-intensive services like AI,” said Jake Flomenberg, partner at Accel.

“At the same time, however, the opportunity has never been greater to responsibly leverage data in the web’s next phase of products and innovation. Oasis Labs is forging a new path by giving people control over their data while delivering a high-performance blockchain platform that will reshape the future of the cloud.”

Privacy & security

To power those applications, the Oasis platform embodies two core values. The first is bringing privacy and security protections previously not possible on a blockchain.

The second is delivering processing capabilities that have orders of magnitude greater performance than existing systems, even for complex applications.

This combination also enables sophisticated, computationally-intensive and privacy-sensitive services such as machine learning on blockchain.

Written from press release by Leah Alger