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14/10/19 04:30 UTC-5

Blockchain ICONLOOP startup raised more than $8 million

ICONLOOP, a South Korean blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
startup, raised 10 billion won (more than $8 million) in Series A funding rounds.

Financing of ICONLOOP Startup

According to an announcement published on Thursday, the investment was made by the venture capital firm Korea Technology Finance Corporation with the participation of TS Investment and several other companies.

ICONLOOP stated it was the “first” venture investment since its inception in 2016.

ICONLOOP said it plans to launch a new decentralized identification (DID) service called “my-ID” in the first half of 2020.

My-ID is a blockchain-based digital identity authentication service that allows users to verify their ID using a mobile phone and access services that require identification, such as financial products, easily.

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See also: "German FC Bayern announces blockchain merchandise launch"

#Startup #Blockchain #ICONLOOP #investors

Editor: Yuliya Soroka
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