Skrumble Network, who provides global access to a secure communication system that enables user privacy and data ownership via blockchain, has successfully raised $15 million in its crowd sale, thus surpassing its goal of reaching a hard cap of 20,000 ETH, which is approximately $11 million.
The network allows community members to take back ownership of their data, communicate freely and build their own secure solutions, according to the company. Its SKM utility token, which can be exchanged in platforms for that effect, allows users to unlock specific features and can be used as the means of payment for interacting with Skrumble Network.
The funds raised will enable Skrumble Network to build an open source communication-centric blockchain for other applications to utilize and build onto the network; a decentralized communication application built on their very own blockchain; a communication layer for developers to add Skrumble Network’s decentralized communication features into their applications.
The company has recently released a beta version of their decentralized communication application and is now building a full spectrum platform that aims to disrupt legacy systems, assure user anonymity, and guarantee privacy.
Eric Lifson, Co-Founder of Skrumble Network, commented:
“Social media has completely changed the face of communication, and now, data privacy and ownership is one of the biggest concerns of this time. 2.2 billion users around the world have trusted Facebook with their information; 87 million of those users received a wake-up call a few weeks ago when they got notifications that their personal data was compromised, sold, and used to manipulate them. Skrumble Network aims to build back the trust that has been lost since these recent events. Finally, people can connect globally and speak freely on the most secure network possible.”
The full spectrum platform will include unique, secure connections per conversation to ensure privacy, real-time voice and video calling with up to 50 people, as well as edit, save and unsend messages.
In addition to the capability to enable large file transfers and user-controlled distributed file storage, the platform will allow wallet integrations for in-context money transfers and simple smart contracts. Skrumble Network will offer an open source software development kit to encourage third-party developers.
The company uses a unique consensus-based algorithm derived from unique session ID, which allows for every peer-to-peer connection to be completely private, putting the ownership right back into the hands of the user. The system is expected to eliminate the hacking of servers, manipulation of data, and privacy breaches.
