MXC Foundation, the break-through crypto currency promoting LPWAN technology powered by the MXProtocol, has today announced its newest investor, Fenbushi Capital, the Shanghai-based venture capital firm dedicated to building world-class blockchain companies.
“MXC aims to establish a systematic process to both simplify and increase IoT data transactions utilizing the Low Power Wide Area Network (LPWAN) network, so that people can take part of the shared economy,” said Hu Xin, CEO of the MXC Foundation. “With the support of Fenbushi Capital, we are one step closer to opening the benefits of blockchain technology to both businesses and the wider public.”
Fenbushi Capital is the first Chinese venture capital firm that exclusively invests in blockchain-enabled companies. Their mission is to accelerate the inevitable future of blockchain economy by supporting as many organizations as possible. Fenbushi’s experience in the blockchain space will play an important role in bringing much more transparency, efficiency, and robustness into the global economy.
“The shared economy is the future of social and economic development and will underpin significant growth for organizations worldwide,” said Bo Shen, General Partner of Fenbushi Capital. “MXC’s unique offering will change the way IoT data is monetized, enabling distributed commerce both for companies and for individuals.”
MXC combines the LPWAN and the Machine eXchange Protocol (MXProtocol). This is then combined with the Machine eXchange Coin which supports the user with streamlined data transactions and data flow monetization. Individual users and enterprises can construct a decentralized and secure LPWAN simply by connecting a device to the online network. This enables any device connected to IoT to connect. IoT devices are then monetized through an LPWAN gateway where they can access all published data traded within the marketplace.