Blockchain Company Dfinity Raises $102 Million

By Dan Anderson ● Updated August 31, 2018

Palo, Alto, California-based Dfinity is a blockchain company that is planning to disrupt computing by offering a cheaper and decentralized option in a market dominated by Amazon Web Services and Salesforce. Recently, Dfinity announced that it has raised $102 million in funding from Andreessen Horowitz (a16z), Polychain Capital (crypto fund), and several other investors. 

Back in March, Dfinity also raised $61 million in March and the company has raised a total of $166.9 million. And Dfinity has also previously raised funding from a number of other notable investors like Amino Capital, Aspect Ventures, Multicoin Capital, SV Angel, and Village Global.

Dfinity’s goal is to build an advanced blockchain computer network with the speed and governance systems required for creating Cloud 3.0. And Dfinity’s “world computer” will have millions of nodes that would be available as a low-cost computing resource. This would enable companies to avoid ”the stack” — which includes servers and middleware — with the blockchain and open source programs as the alternative.

“Decentralized computation networks like DFINITY stand to bring us closer to a world where digital platforms can be constructed from trustless, autonomous, and open source software that is owned and governed by communities of users and developers, rather than companies. The openness and inclusiveness of this new paradigm has the potential to organize human collaboration at an unprecedented scale,” wrote Ali Yahya and Chris Dixon of a16z crypto in a company blog post.

Williams believes that the academic institutions and startup companies will embrace Dfinity first. And later on, companies that are accustomed to Microsoft and Amazon will likely switch over.

Dfinity is expected to be available as a private version later this year so developers can test it out. And then it should be opened to the public next year.