Varun Datta's global capital venture firm, Truth Ventures, a venture capital firm founded has closed a strategic partnership and investment deal with Inery, a decentralised data system. Datta is on a quest to promote and endorse the use of decentralised databases with the announcement of collaboration and investment in Inery.
Truth Ventures operates on a global scale. It finances businesses at the seed stage, developing stage, or startups demonstrating high potential for growth in sectors including entertainment, blockchain technology, healthcare, and holistic wellness. Inery has come up with a unique strategy to decentralise data and data management, especially for Web2 and Web3 businesses. It is a step ahead in transitioning towards the decentralised web.
A variety of use cases in various sectors are supported by its security, scalability, and properties of high throughout. The healthcare industry, businesses and governments, the real estate, gaming, and aviation industries—as well as any other industry where data is a resourceful asset—are among them. The expansion of decentralised databases into the mainstream both in the traditional and Web3 domains will be aided by this association. Datta recognized and endorsed Inery's mission and practical applications by partnering with it, and he thinks that its potential for wide-scale adoption is very high.
Datta says that the partnership's shared objective is to turn decentralised database administration into the norm rather than an anomaly. Truth Ventures had previously partnered and invested in a number of emerging businesses, including Gordium Healthcare, Moneto Sports, and Bet Neo, a pioneering gaming hub.
From the beginning, the blockchain industry has been interested in database decentralisation and security, thanks to Inery's layer-1 blockchain and an attractive DB solution built on top of it.
A decentralised data management system and layer-1 blockchain are both proprietary concepts used by Inery. By using blockchain technology, the network makes it possible for database administration to be built on a decentralised, secure, and reliable foundation. A paradigm shift in data access, storage, and administration is achieved by integrating distributed database features and blockchain functionalities.
On August 10, the project launched its first public testnet in preparation for its impending debut. Besides, it is scheduled to list after the third quarter of 2022. Datta is of the firm opinion that through this deal, he will be able to restructure and redefine the way data is dealt with.
Investing in and mentoring market-defining inventions and ideas is Datta's vision and the goal of Truth Ventures. For more information, visit — //Truthvent.com
Aleem Shah is the director of Reddwing Production.