MaterialsZone has recevied $1m investment to develop a platform that will allow researchers to publish data on the blockchain in the field of materials science. Sarona Ventures has agreed to supply the investment into the Israel tech startup.
Much of scientific research goes unpublished due to fears surrounding intellectual property and little incentive for researchers to publish their data. This results in billions of data entries being lost and unused, obstructing innovation and scientific breakthroughs.
MaterialsZone utilises blockchain technology to manage data transactions, protecting data from being altered, while keeping ownership in the hands of its authors, without one central entity controlling the database. The platform creates an open scientific data marketplace, allowing laboratories and scientists to collaborate in the field of materials science.
MaterialsZone’s platform will also incentivise researchers through a mechanism that will allow them to sell their data. The investment will help develop its platform on a global scale, according to the company.
MaterialsZone is founded on the back of research at the Institute for Nanotechnology and Advanced Materials (BINA) in Bar Ilan University (BIU) in Israel. Dr. Assaf Anderson, co-founder and CEO of MaterialsZone, commented on the news:
“Materials science is the most important driving force behind innovation, and unlocking this data in order to accelerate the discovery of new materials is the key to new technologies and solutions. We are excited about our recent collaboration with Sarona Ventures, which will further develop the MaterialsZone database and platform that will lead to new solutions and save thousands of experiments worldwide.”
Philippe Bouaziz, founder and chairman of Sarona Ventures, added:
"The vision of MaterialsZone combines revolution in materials science, along with blockchain technology, in which we see one of the most promising areas in the coming years.
“Our investment in MaterialsZone is an expression of our policy to foster innovation on the technology forefront, including the use of the most advanced technologies such as blockchain and artificial intelligence (AI)."
For more information, visit materials.zone.
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