Centic – a scoring platform for the entire Web3 Space snaps up seed funding from IDG Capital Vietnam Blockchain
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IDG Capital Vietnam Blockchain signed the investment cooperation agreement with Centic
VIETNAM – 7 June 2023 – IDG Capital Vietnam Blockchain (IDGCVB) has invested in the seed stage to own a 25% stake in Centic. This was officially announced in the investment signing ceremony that took place in May 2023, in Hanoi.
The investment of IDGCVB provides Centic not only capital support but also assistance in strategic direction, which will accelerate Centic’s development with unwavering strength and agility.
Mr. David Tran – the General Partner of IDGCVB emphasized the underlying objective of their investment decision: “Our startup selection criteria are to see if the startup is specialized in blockchain technology, the team can capture the essence of this technology to create a breakthrough in the market. In the world, blockchain technology is still at the development stage, not fully mature like technology in artificial intelligence (AI), e-commerce, or other industries, so the founding team must be people with an outstanding grasp of blockchain.”
Founded in 2022 after long research on data on major blockchain platforms. Thang Nguyen and his team, who are researchers with many years of experience in the field of data science and blockchain, conceived the idea of building a scoring model for objects in Web3. The system ensures real-time data collection to build a reliable and fast Web3 data infrastructure. Moreover, Centic towards the connection between traditional finance and the Web3 space.
Centic starts from a model that evaluates credit scores for wallet addresses based on their assets and behavior on a system of decentralized financial applications. At the moment, Centic is processing data and assessing the credit scores of over 150 million wallet addresses through data on blockchain networks such as Ethereum, BnB Chain, or Polygon that are sheltering the majority of digital assets.
On that basis, the project offers a data analytics platform, connecting on-chain data and off-chain data to build a complete and reliable data infrastructure. With this smart infrastructure, Centic proceed to develop entities scoring services related to the web3 such as Reputation, Token Health, Credit Score for DeFi, and so on. These values will be used to evaluate the quality as well as the safety and reliability of every entity in Web3 Space.
As a breakthrough scoring platform for the entire web3 space, Centic is proud to be among the first three projects chosen for support by IDGCVB to become the bridge for web2 and web3.
About Centic:
Centic is a project founded in 2022 that provides the scores of all entities on Web3 Space and integrates on-chain data in blockchain space and off-chain data in reality.
By providing a comprehensive evaluation system, we assist users in confidently making the right investment decision both in the traditional and digital world.
For more information, please contact:
Thắng Nguyễn at thang@centic.io
This press release was published as it was received from our partner, without any editing from the Tech in Asia team.
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