London’s Gospel Technology Raises Funds For Blockchain Based Data Sharing
The firm promotes safety and trust through its operations and it is gaining attention from major companies across Europe.
Gospel Raises £5 million
UK firm Gospel has revealed a £5 million in funding. The funds comes from Series A by IA Ventures. The firm sets ups databases based on the blockchain network. The announcement is the initial one involving investments by Salesforce.
According to Alex Kayyal of Salesforce, the firm intends to partner with innovative companies around the world. He noted that Gospel Vision will be of benefit to customers under the new partnership.
On the other hand, Roger Ehrenberg a senior official from IA Ventures lauded blockchain stating that the technology has the capability to revolutionize the manner in which firms share information. Ehrenberg said that such mechanism is key in promoting productivity. He stated that they were glad to partner with Gospel. They are awaiting Gospel idea to achieve maturity.
The latest funding comes after the last funding from LocalGlobal. The February funding will be used to grow Gospel customer base and marketing. Additionally, the funding will be used to assist in the growth of the Gospel’s data.
Gospel Technology started its business in 2016 by Ian Smith. The firm has offices in London with the aim of simplifying operations through cost reduction. All the operations are conducted under the blockchain technology.
Basically, Gospel offers total control over who can gain access to a company's information. It enables business ventures and partners to work perfectly by sharing data in a trusted way. All are aimed to promote accountability.
Major UK Partnerships
At the moment, Gospel is on record stating that it has partnered with top firms across the United Kingdom. However, Smith failed to name the companies involved in its operations. Speaking to the media, Smith said that they are attracting firms from different industries like production.
He said that the ability of the Gospel to transform data sharing among enterprises is behind the increased attention. Data sharing has been one of the biggest headaches for major enterprises. Gospel’s system promotes trust and security which is a major concern.