BEIJING, April 1, 2020 /PRNewswire/ — Recently, Points Technology, a blockchain and AI startup announced multi-million US dollar worth Series A financing. The investment was made by K2 Venture Partners, a leading venture capital firm in China. Points technology will use the newly injected capital for continuous product research and development and further commercialization.
Founded in 2017, Points Technology provides a high performance and configurable blockchain-based confidential computing framework. The platform enables governments, financial service firms and Internet companies to jointly develop machine learning model and perform analysis without exposing the original data to each other. Meanwhile, the platform leverages blockchain for data traceability and audits. Points Technology is a leader in the field of DLT & private AI with product deployment with a number of major financial institutions. The company also serves as a core member in global and national technical standard committees. In July 2019, Points Technology won the “Technology Pioneer Award” from the World Economic Forum, which was previously awarded to Google, Wikipedia, Palantir and Ripple back in their startup days.
Sarah Zhang, founder and CEO of Points Technology, points out that how to break the data silos and help data owners to reach full potential of data under the premise of protecting data privacy become a new problem to solve in digital economy era. Currently, Points Technology assists different data owners to share data and models without exposing raw data to each other.
Points Confidential Computing is based on Trusted Execution Environment and other encryption technologies. By running joint computing in the chip-based trusted execution environment, the framework makes data usable but not visible to any party involved. This greatly improves data privacy, security and compliance. At the same time, the history and records of data sharing are documented by blockchain.
In terms of use cases, large financial institutions can maximize data value without exposing original data. This framework can manage multiple data sources both inside and outside the bank in an open banking scenario. Points Technology helps large financial institutions build data collaboration alliance and integrate multiple data sources such as tax, logistics, and more. The data usage log can be traced and audited, while the data and model resources are protected by encryption algorithm and secure computing environment in the whole process.