MXC Foundation, the break-through cryptocurrency promoting LPWAN technology powered by the MXProtocol, has today announced its latest investor, leading Asian blockchain technology fund BlockAsset Ventures.
“MXC and BlockAsset plan to collaborate on a range of strategic initiatives in order to deliver on MXC’s goal to both simplify and increase IoT data transactions utilizing the Low Power Wide Access Network (LPWAN) network,” said Hu Xin, CEO of the MXC Foundation. “BlockAsset’s insights and connectivity across the blockchain space will accelerate our mission to develop and drive the shared economy which will be at the heart of smart cities.”
BlockAsset Ventures is an Asian blockchain technology fund that invests in promising blockchain startups. The fund leverages its years of experience in the digital asset space and strong industry relationships to invest in a portfolio of prominent digital assets.
David Lee Kuo Chen, Co-founder of BlockAsset added: “The idea of a bridge between traditional financial and payment systems, and the new world of FinTech and blockchain is both innovative and necessary. We share a primary interest with the MXC Foundation regarding decentralization as an area of research and investment. Open and inclusive blockchain has many socially beneficial properties besides being auditably secure and transparently accountable. It can restore faith and increase resilience in the financial system by enabling cross-border economic cooperation and integration.”
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.