With funding of over 270 thousand euros, WordProof announces that they have received sufficient funds to continue the project aimed at making the web secure and safeguarding users from fake news.
WordProof receives financing worth €275,000 for safer internethttps://t.co/CZ9fwXksn7
— WordProof – Protect your content with blockchain (@WordProofio) June 2, 2020
Last year, the Amsterdam-based startup WordProof partnered with Worbli, sister chain of EOS, to bring timestamping directly into WordPress and identify content to certify when and where it was produced.
Naturally, it takes funds to carry on such a project and fortunately, these weren’t long in coming: in fact, as much as 275,000 euros have been invested by the Noord-Holland Innovation Fund, a Dutch initiative supported by the European Union with the aim of supporting entrepreneurs in the development of PoC (Proof of Concept) by providing convertible loans.
The tool is already operational on WordPress and will now be further developed, said CEO Sebastiaan van der Lans:
“The convertible loan by the Noord-Holland Innovation Fund enables WordProof to further develop the intended timestamp ecosystem on the blockchain. Among other things, we are working on techniques to support search engines in recognizing real and unmanipulated content. The goal of the timestamp ecosystem is to facilitate search engines and social media platforms with timestamps to which value can be assigned. By doing so, WordProof builds a new layer of trust on the internet. Right now, WordProof already offers a user-friendly WordPress (tool to easily develop websites used by 36% of all internet websites) plugin to timestamp content and thereby claim ownership over website content and show authenticity.”
The WordProof technology will solve the problem of fake news, commented the director of the fund, Wouter Keij:
“Fraud, fake news and other statements on the internet of which the origin is not clear, are an increasing concern for many. WordProof’s technology can solve this problem. The solution worked in a technical environment and now it is time to prove the technology works on a larger scale. WordProof’s solution is universal and it should, therefore, be able to implement it on a global scale”.
As if that weren’t enough, WordProof also received a $50,000 grant from Block.one’s EOS VC Fund, the company behind the development of the EOS blockchain, which demonstrates the validity and potential of this project overseas.