Singapore based ODX (Open Data Exchange) functioning and operating mainly over blockchain technology creating a data marketplace has now attracted investors from around the world.
Today when asked about what is the greatest access into the world of technology, a platform for evolving ideas and ecosystem for fast-growing developed technology and time-space, the answer is the Internet. The data marketplace now visions to replenish emerging markets and economies with free internet access. An amount of $60 million has been committed for this initiative from investors around the globe.
Shedding light, the Singapore ODX said, they conducted these investments through a private token sale. The process of selling tokens was only exposed among the renowned list of investors and companies while major hands were of the blockchain technology players in the market. Pantera Capital, DNA Fund, Block Tower Capital (leading players of investors in blockchain market), Wavemaker Genesis, Hexa Labs of Israel, Kinetic Capital of Hong Kong, Andromeda of Switzerland were among other market space players.
Despite raising $60 million from investors ODX, however, didn’t manage to meet the targets which the company was expecting a couple of months back. The company projected a target of $100 million back in the month of May during its token sale announcement. The tokens were launched in exclusive countries; they were not open and carried out amongst citizens of Philippines, China, and the US.
ODX, Founded and Established by the co-founder of leading consumer Tech Company of Philippines, Xurpas Inc, they said they’re set out with agendas to treat the basic problem consumers come across within all emerging economies i.e. the Internet and its access. ODX, through its decentralized space in the data marketplace, has initiated the first step towards the solution of this problem.
Scott Walker (co-founder DNA Fund) elaborated “The Internet is one of the greatest access granters for enterprises, businesses, startups and so many. At places around the world, the Internet in some parts is expensive, free Wi-Fi services in public areas are hard to find, cables are limited and fully fledged exposure is scarce. When looking into the fact how the maximum of the population is based and entertained in emerging markets around the world, Internet access must be a basic human right.”
The company added their ODX coins will give away free internet access to customers based in upcoming new markets and economies with the help of sponsored internet packages.
Nix Nolledo the founder and chairman of ODX Pte Ltd extended his thoughts on the technology stating “Blockchain is a technology capable of being revolutions, adding benefits to businesses, government and even citizens fair and equal. It creates a platform for internet service providers to come together with publishers from around the world that wasn’t quite possible until now.”
ODX is the first and foremost of all blockchain projects, that will be launched by Xurpas this year. For emerging markets filled with young minds and ideas, for small to big businesses the free and fair distribution of internet access must occur to provide all with the same platform to catch up with the pace.