Blockchain VC Firm Pithia Inc. Signs Investment Deal with Lucidity

Blockchain VC Firm Pithia Inc. Signs Investment Deal with Lucidity

Blockchain startups are disrupting industries worldwide through solutions for data transparency, storage and security. On Aug. 15, venture capital firm Pithia confirmed an investment deal with blockchain startup Lucidity.

RChain Ecosystem to Support Lucidity

Venture capital firm and RChain Cooperative partner Pithia Inc. has announced an investment in Lucidity.

Through the investment, Lucidity, a scalable blockchain protocol aimed at resolving inefficiencies in the digital advertising data industry, plans to expand its operations and engineering departments as well as launch international marketing campaigns.

The total investment amount was not disclosed.

Lawrence Lerner, CEO of Pithia, expressed excitement for the firm’s fourth major investment:

“There’s a lot of speculation in the blockchain ecosystem but very few real-world uses. By focusing on market-ready solutions like Lucidity, we are incubating the future of the industry and supporting companies that will impact millions on businesses and consumers in the years to come.”

Pithia is a blockchain venture capital firm focused on finding enterprise applications for RChain, a third-generation smart contract platform. Founded in 2017, Pithia has over $170 million in assets under its management.

Lucidity Disrupting Digital Ad Analytics and Supply Chain

Founded in 2017, Lucidity allows marketers to prevent fraud, expedite billing and verify data metrics through an auditable blockchain. Currently available on the Ethereum platform, Lucidity is one of the first blockchain protocols to implement second-layer scaling solutions such as Sharding and Plasma.

In an official press release, Sam Kim, CEO of Lucidity, said:

“Our product is live and now we are even better positioned to innovate and handle a massive volume of transactions, reduce blockchain overhead costs, and ensure privacy for our customers.”

Through its partnership with Pithia, Lucidity plans to build out cross-chain compatibility with other leading smart contract platforms, such as RChain. The RChain mainnet is planned to launch in Q4 2018.

“Collaborating with Pithia and RChain Cooperative supports Lucidity’s mission to build the most scalable and interoperable Layer 2 blockchain infrastructure to solve for pressing issues in the digital ad supply chain.”

Showcasing its blockchain 3.0 ecosystem, Pithia plans to use the high volume data processing of Lucidity to exhibit the platform’s scalability and security. With the expanse of scalable smart contract platforms, it’s becoming evident that enterprise blockchain solutions are on the rise.

Cover Photo by Caleb Ekeroth on Unsplash

Filed Under: Adoption
Jonathan Kim

Jonathan Kim is a University of Washington student of Finance and cryptocurrency investor with a deep interest in the emerging industry of blockchain applications and cryptocurrency trading. His past experiences involve publishing original daily content for blockchain startups and trading cryptocurrencies using technical analysis principles.

View author profile

Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.