Custos Media Technologies, a South African bitcoin blockchain based startup that has built up the way to recognize and track unlawful record sharing and privateers through the bitcoin blockchain, has gotten another money infusion of over $400,000.
South African startup Custos Media Technologies, an organization that uses the bitcoin blockchain to battle media theft has achieved a concurrence with the Technology Innovation Agency (TIA) that will see subsidizing of 5.9 million Rand (approx. $400,000) picked up by the startup throughout the following 2 years.
A Bitcoin Reward for Downloaders?
The innovation, seen as an extraordinary approach to battle media theft, works by installing a bitcoin abundance inside a bit of a media. The watermark can then be followed on the blockchain with perceiving and distinguishing encroachments when the media leaves the first beneficiary or purchaser of the media.
The watermark is a distinguishing code one of a kind to every client obtaining the media. This code can be utilized to get to a discoverer’s charge, a store as a cryptocurrency. In the event that and when the substance is shared or released, the outsider additions ownership of the media can trade out the code, for the discoverer’s charge. Now, an alarm is activated toward the substance maker, who can then check the bitcoin blockchain record to find the wellspring of the hole.
As a gesture to the innovation and the thought, the Stellenbosch based startup has as of now seen subsidizing from the TIA previously to the tune of R500, 000. The TIA, an administration activity set up by the South African government gifts money related backing through the different assets for an assortment of organizations and foundations, alongside with the Small Medium Micro Sized Enterprises (SMMEs).
According to the sources, the Custos CEO G-J van Rooyen expressed in his statement that the TIS have again demonstrated their dedication to bolster early organize innovation business in South Africa. The financing assention will permit Custos to quicken item improvement, while at the same time arranging for assets to spend on conveying the item to the broadest conceivable business sector.
The most current money infusion takes after a seed financing round in April 2016 where the blockchain startup raised $265,000 from productive industry speculator Digital Currency Group (DCG) and a South African private speculator. Preceding that, Custos raised an underlying venture of R2, 100,000 a year ago from Innovus Technology Transfer. By and large, the organization has, as such, raised somewhere in the range of 12 million rand over $800,000.
Addressing to the CCN before, as we get the report from the sources the chief operating officer of Custos , Fred Lutz uncovered that the South African organization’s definitive objective is to target Hollywood, to see real motion picture studios among its customer list.