Press Release
July 24, 2018

MXC backers believe in the future of IoT

MXC welcomes a powerful group of new supporters to the organization. Fenbushi Capital, BlockAsset Ventures, Longhash, the VeChain Foundation and Node Capital will help to promote a worldwide shared IoT economy where individuals and companies can profit from MXC.

MXC backers believe in the future of IoT

MXC Foundation, the break-through cryptocurrency promoting LPWAN technology powered by the MXProtocol, is welcoming a powerful group of new investors to the organization. Fenbushi Capital, BlockAsset Ventures, Longhash, the VeChain Foundation and Node Capital will help to promote a worldwide shared IoT economy where individuals and companies can profit from MXC.

“MXC pursues a clear goal. We wish to both simplify and increase IoT data transactions utilizing the Low Power Wide Area Network (LPWAN),” said Hu Xin, CEO of the MXC Foundation. “With the support of strong investors we are more confident than ever in our work to develop and drive the shared economy which will be at the heart of smart cities.”

Fenbushi Capital is the first Chinese venture capital firm that exclusively invests in blockchain-enabled companies. Their mission is to accelerate the inevitable future of blockchain economy by supporting as many organizations as possible. Fenbushi’s experience in the blockchain space will play an important role in bringing much more transparency, efficiency, and robustness into the global economy.

BlockAsset Ventures is an Asian blockchain technology fund that invests in promising blockchain startups. The fund leverages its years of experience in the digital asset space and strong industry relationships to invest in a portfolio of prominent digital assets.

Longhash is a platform for accelerating the development and understanding of blockchain technology. Its platform offers independent data analysis and media commentary, as well as a full range of support for blockchain start-ups including but not limited to professional services, modularized knowledge sharing, mentoring services, and investor outreach.

The VeChain Foundation is the world’s leading public blockchain platform offering Blockchain-as-a-Service to enterprises. By leveraging on blockchain technology, the VeChain Foundation continuously aims at optimizing and adding value to the scope and development of its VeChainThor platform. In order to create a platform with holistic capabilities, the VeChain Foundation’s approach is to include the world’s best service providers, reputable enterprises and global experts into their platform’s ecosystem to ensure the integration of as much business activities as possible.

Node Capital is lead by Du Jun, the founder and former CEO of Huobi, the digital currency trading platform and exchange. Node Capital specializes in Blockchain layout, ultimately aiming to connect every node of Blockchain industry together to build a solid foundational ecosystem, supporting projects in Blockchain such as news information, digital asset transactions, storage, technology development and applications Node Capital brings together a wealth of experience in emerging Blockchain projects, crypto payments, and community collaboration.

“The shared economy is the future of social and economic development and will underpin significant growth for organizations worldwide,” said Bo Shen, General Partner of Fenbushi Capital. “MXC’s unique offering will change the way IoT data is monetized, enabling distributed commerce both for companies and for individuals.”

David Lee Kuo Chen, Co-founder of BlockAsset added: “The idea of a bridge between traditional financial and payment systems, and the new world of FinTech and blockchain is both innovative and necessary. We share a primary interest with the MXC Foundation regarding decentralization as an area of research and investment. Open and inclusive blockchain has many socially beneficial properties besides being auditably secure and transparently accountable. It can restore faith and increase resilience in the financial system by enabling cross-border economic cooperation and integration.”

MXC combines the LPWAN and the Machine eXchange Protocol (MXProtocol). This is then combined with the Machine eXchange Coin which supports the user with streamlined data transactions and data flow monetization. Individual users and enterprises can construct a decentralized and secure LPWAN simply by connecting a device to the online network. This enables any device connected to IoT to connect. IoT devices are then monetized through an LPWAN gateway where they can access all published data traded within the marketplace.

“In order to improve efficiency as a society, we believe it is necessary to shift from a centralized economic model to a flatter, decentralized economic model where resource allocation is flexible, and individuals are empowered to make decisions based on transparent data and matching demand and supply in real time,” said Longhash CEO Chris Dai. “Our investment in MXC is a step forward in our mission to incubate and contribute to blockchain projects that truly enable individuals to build transparent and vibrant communities. “

“At its heart, MXC is a data trade network that leverages the sharing economy to form very wide, efficient networks where sensitive data is not shared randomly, an issue so many other solutions do not address,” said Sunny Lu, CEO of the VeChain Foundation. “Great transparency and immutability the combination of IoT and blockchain technology can provide, we believe, is the solution to tackle problems such as data manipulation.”

“MXC’s core MXProtocol is extremely impressive for enabling lightning fast transactions, and that is exactly the kind of breakthrough technology we want to see gain wider adoption,” said Du Jun, CEO of Node Capital. “Our investment in MXC reflects our desire to build a smarter data-driven Blockchain community that truly empowers every individual.”

MXC Foundation