Ruby, a privacy-first layer 1 blockchain, today announced the close of a $7.3 million round of funding with participation from venture capital funds Digital Strategies, DFG Group, SigNum Capital, D1 Ventures, Global Coin Research, Ocean Foundation, DWeb3 Capital, Maverick Global Ventures, and more, while adding Bruce Pon (Ocean Protocol), Yoon Kim (TRGC), and Charles Read (Rarestone Capital) as angel investors.

Ruby Protocol is a privacy-first layer 1 blockchain that utilizes Functional Encryption (FE) cryptography, which allows users to adopt a modular approach to data privacy and ownership. Sensitive data can be encrypted on-chain, and only decrypted by holders of an approved private key.
Ruby's FE Substrate-pallet will serve as the building blocks for privacy-first smart contract DApps building on the native Ruby chain, while also acting as a privacy layer for Web3 dApps across multiple ecosystems starting with Polkadot.
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SOURCE Ruby Protocol

Ruby Raises $7.3M To Give Users Greater Control And Privacy Over Their Data

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