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The Japanese Information Services Company Recruit Co., Ltd. invested in a company specializing in the Beam Development Limited block chain, according to an announcement published on February 18.
According to the press release issued today, Recruit has invested in the Israeli startup Beam Development Limited. The investment was made through the Recruit fund called RSP Blockchain Tech Fund Pte. Ltd., worth $ 25 million. The latter is focused on the investment and acquisition of shares of blockchain and cryptocurrency companies.
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Beam is a confidentiality-based cryptographic project that secures transactions by allowing a specified third party to verify transaction data. The advertisement indicates that the Beam token prevents "the disclosure of transaction data to third parties and protects the transaction information of the user".
Recruit also pointed out that "it recognizes the revolutionary impact of blockchain technology to facilitate innovation while preserving confidential data, but at the same time understands the need for regulation." appropriate government to prevent abuse 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 a question of implementing a cryptocurrency compatible, evolutive and confidential. "
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Founded in 1960, Recruit Co. is a global advertising and employment information services company. The company acquired the job search portal Indeed.com in 2012, then the job search job site Glassdoor in 2018.
Beam (BEAM) recently announced plans to introduce a lightning network (LN) compatible with Mimblewimblewimble to improve altcoins in commercial environments where payments would require quick confirmation. Although the Beam document indicates that its transaction capacity is three times faster than that of Bitcoin (BTC), the document indicates that it is not at the same level as other large payment processors.
According to a Litecoin Foundation blog published on February 7, Mimblewimblewimble is partly a variant of "confidential transactions", which allows transactions to be "obscured but verifiable", to enhance confidentiality and avoid double spending
Keep reading: The Litecoin Foundation and Beam are teaming up to explore a new protocol, with the price of long-term care increasing by 30%.
At the end of this edition, BEAM trades at 1.26 USD, after gaining around 4.5% that day, according to data from CoinMarketCap. The market capitalization of the currency is about 7.8 million USD, while its daily trading volume is about 7 million dollars at the time of printing.
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