Outlier Ventures Convergence Stack strengthens as Enigma brings the capacity to secure the decentralised web
Today we can announce we have made a significant investment in, and have become a strategic advisor to Enigma, a decentralised secure computation protocol.
Partnering with the Outlier Ventures platform will enable Enigma to scale and diffuse their network at a new rate. The partnership will enable Enigma to join a family of world leading internet protocols, developers and computer scientists in a multi-generational project, all focused on building a new and more equitable data economy.
To realise the potential of this partnership Enigma and Outlier Ventures will be working on technology integration, reference implementations of the network, and creating developer resources. Outlier’s in-house technical teams will support in the development of tooling and work directly with Enigma’s code, building bridges and planning key integration points that connect Enigma to other distributed ledger technology in The Convergence Stack.
At an operational level they will become members of The Convergence Alliance2, a unique community of open source protocols, enterprise, start-ups, government bodies and academia chaired by Outlier, leading the next phase of the Web. With founding members including Deutsche Telekom, Land Rover Jaguar and SAP the alliance will serve as a gateway for Enigma to connect with Outlier’s ecosystem of smart cities, corporate partners and developer communities.
Enigma’s core mission is to secure a decentralised web, where secret nodes in the network perform computations over encrypted data. Their ability to secure any kind of computation – not just transactions – for thousands of decentralised apps requiring private computation and secure data will be hugely powerful for Outlier’s partners. Their cutting-edge cryptographic methods and secure hardware solutions to turn ordinary smart contracts into secret contracts will mean users, companies and marketplaces within the stack can utilise and monetise sensitive data while keeping it private.
CEO Jamie Burke, Outlier Ventures, commented: “With Enigma, we share the important mission of reducing the world’s reliance on insecure cloud computing platforms by offering peer-to-peer, privacy-preserving, decentralized and open source alternatives. They bring huge and immediate synergies to our growing stack of investments both at the Compute layer and more widely and we are looking forward to integrating them into our ecosystem.”
CEO Guy Zyskind, Enigma commented: “We are excited to be partnering with Outlier Ventures towards our shared mission of driving global mass adoption of decentralized technologies. Outlier’s vision, team, and dedication are unmatched in our industry. Together we will continue working to create significant new value for individuals and institutions across the world.”