The owner of Indeed and the job search engines Glassdoor invest in the project coin Privacy Beam

The Japanese employment information services company, Recruit Co., Ltd., has invested in a blockchain-focused company, Beam Development Limited, according to an announcement on Feb. 18.

According to today's press release, Recruit has invested in the Israeli start-up blockchain Beam Development Limited. The investment was made through Recruit's $ 25 million fund called RSP Blockchain Tech Fund Pte. The latter focuses on investing and acquiring shares in block and cryptocurrency companies.

Beam is a confidentiality-based cryptographic project that secures transactions by allowing transaction data to be verified by a specified third party. The announcement indicates that the Beam token prevents the "disclosure of transaction data to third parties and protects the transaction information of the user".

Recruit further pointed out that he "recognized the revolutionary impact of blockchain technology to facilitate innovation while preserving confidential data, but at the same time, Recruit understands the need for a appropriate government regulations to prevent any misuse of this new technology. "

Beam confirmed the recent investment on Twitter, stating that it "helps Beam to fulfill its mission in Japan […] when it is necessary to deploy a cryptocurrency that is compliant, evolutive and confidential. "

Founded in 1960, Recruit Co., Ltd. is an international advertising and information services company. The company acquired the job search portal Indeed.com in 2012 and then the job search website Glbaddoor in 2018.

Beam (BEAM) recently announced plans to introduce a lightning network compatible with Mimblewimble to improve the altcoin in commercial environments where payments would require quick confirmation. While Beam's paper indicates that its transaction capacity is three times faster than that of Bitcoin (BTC), the paper notes that it is not at the same level as the other major payment processors.

According to a note published by the Litecoin Foundation on February 7, Mimblewimble is partly a variant of "Confidential Transactions", which allows transactions to be "obscured but verifiable", so as to enhance confidentiality and avoid duplication expenses.

According to CoinMarketCap data, BEAM is currently trading at $ 1.26, after gaining about 4.5%. The market capitalization of the coin is approximately $ 7.8 million, while its daily trading volume is approximately $ 7 million at the time of publication.