In continuing a busy few weeks for OPEN Platform, their latest strategic partner has been revealed to be Danhua Capital. Danhua Capital, or simply DHVC, is an early stage VC fund that focuses primarily on disruptive technologies and business models. With more than $700M in capital, DHVC has been one of the most significant names in the US & China technology industries recently.
DHVC brings with them a rich background of advising hugely successful blockchain projects. The firm acted as early investors and mentors to projects such as NEO, Aelf, Zilliqa, Ontology, and more. These billion dollar blockchain projects have introduced some of the most disruptive technologies seen today.
DHVC and OPEN Platform’s visions of bringing blockchain to mainstream audiences align closely. OPEN Platform is building the first cryptocurrency payment processing API that does not require expertise in blockchain coding languages. Through this platform, OPEN is allowing any application owner/developer to easily integrate cryptocurrency payments into their applications. DHVC recognizes that this may be the final step in bringing cryptocurrencies to mainstream audiences.
OPEN’s ambitious vision meshes well with DHVC’s packed history of highly disruptive portfolio companies. Their companies come from cutting-edge technology industries such as AR, big data, blockchain, and enterprise software. More than ten companies in DHVC’s portfolio have already achieved a $1+ Billion valuation mark.
OPEN’s project is creating the first developer-friendly infrastructure that connects to both centralized and decentralized environments. Their platform allows two-way communication between on-chain and off-chain technologies. In layman’s terms, this allows applications to accept cryptocurrencies as quickly as they can accept fiat, while maintaining the same level of security. With significantly lower fees than centralized payment processing providers, OPEN is posed to make a big splash upon full release.
That is the core of what OPEN does – however there are many moving parts that allow their platform to function properly. The OPEN Scaffold technique is the catalyst behind their API’s functionality and usability. The underlying structure of the Scaffold is seen as just as revolutionary as the OPEN Platform itself.
OPEN Platform’s API can be picked up by individuals with zero development background. The live test product up on their website shows the level of usability they have reached in their platform. Through the use of dropdown menus and selection boxes, developers can receive the code required for accepting crypto payments. This technology will put the power of blockchain into the hands of the mass public.
DHVC will support OPEN in the final stages of product development as well as in their global distribution strategy. With strategic positioning in both Shanghai and Silicon Valley, DHVC has witnessed firsthand the power of the API economy. APIs cut down barriers to entry and remove learning curves in a very powerful fashion. A blockchain API is the next natural step for the cryptocurrency industry as a whole.
DHVC’s regional connections and influence will also aid in OPEN establishing a footprint in many of the Asian developer communities. These are the areas of the world with the fastest growing application markets. OPEN sees themselves as the next PayPal or Stripe of the world, and their bark matches their bite. With the development of their own blockchain, OPEN Chain, and a very innovative Blockchain Load Balancing Protocol, OPEN’s platform is built particularly for scalability and fast throughput even at large transaction loads.
DHVC recognizes the potential OPEN has to bring the blockchain space to the next generation of scalable and interoperable networks. As the industry continues to push towards increasingly interconnected blockchains, OPEN will have paved the way for all applications to act within this front. There are millions of centralized applications eager to connect themselves to the $300B cryptocurrency market held on blockchains today.
In bringing OPEN onto their portfolio, DHVC opened a door for other companies to utilize OPEN’s infrastructural API to advance their existing businesses. OPEN’s blockchain agnostic platform can adapt to any blockchain and can be easily integrated with any existing application.
DHVC will join an already impressive list of backers, including RChain’s Reflective Ventures, NEO’s Neo Global Capital, Draper Dragon, Sora Ventures, Element Group, One Block, Jeremy Gardner, and others.
OPEN is quickly emerging as one of the most promising projects of 2018 and is being watched by many in both the North America and Asia cryptocurrency scenes.