Fenbushi Digital is a subdivision of Fenbushi Venture Capital, founded in 2015. Fenbushi Venture Capitol claims to be one of the very first Chinese company which exclusively participates in investing in blockchain based companies. With the support of people like Vitalik Buterin, founder of ethereum, Dr. Feng Xiao, founder of Bosera Asset Management, and many more, the company aims to accelerate the growth of blockchain technology by supporting blockchain based companies.
Recently, Fenbushi Digital, that supports decentralization through blockchain technology, provided funds to Dispatch to build a blockchain network with zero transaction cost. Dispatch is a blockchain startup who has successfully raised $12 million in the past for its project. Now, the company is looking forward to the collection of $6 million to provide their customers with fast decentralized applications.
Ragnar Lifthrasir who is the founder of International Blockchain Real Estate Association (IBREA) and also the founder of Velox.RE told BlockPublisher his views on blockchain startups. Upon inquiring that whether blockchain based startups contained the potential to be a good investment for the people, he answered:
Like startups in other areas, most blockchain startups will fail. Any ICO’ed startup is much more likely to fail.
Dispatch acknowledged of creating its own zero knowledge analytics and Delegated Asynchronous Proof of Stake (DAPoS) technology which will enable users to enjoy zero transaction cost while building a fast and secure blockchain network. Moreover, the company claims that blockchain solutions built by the businesses with its technology would be backward compatible with the ethereum cryptocurrency network as well.
Unlike technologies in the past which slowed down the verification processes of blockchain data, Dispatch claims that it is using the technology which guarantees faster speed, data privacy, and data sovereignty. Moreover, the company stated that its latest and improved technology will efficiently deal with other departments and domains such as health care, AI marketplaces, autonomous vehicles and smart cities.
Patrik Wijkstrom, COO of Dispatch, revealed that the company had been working on the idea for 11 months. He claimed that the company’s idea was cherished by many investors. Patrik also mentioned the reason behind eliminating the transaction fee. He explained that by building a system where developers were relieved of the transaction fee, the company could put a competition to the credit card industry.