Terminal 3, a Hong Kong-based Web3 startup, has successfully raised pre-seed funding to develop a decentralized user data infrastructure. The company aims to address the issues of centralized data storage, which compromises user privacy and burdens enterprises with compliance and security challenges. By leveraging decentralized storage and zero-knowledge proofs, Terminal 3 aims to create a Web3 ecosystem where user data remains private and secure while enabling innovation and improved user experiences.
The pre-seed funding round was oversubscribed and attracted a world-class group of investors, including 500 Global, CMCC Global, Consensys Mesh, Bixin Ventures, BlackPine, DWeb3, Hard Yaka, Bored Room Ventures, Mozaik Capital, and others. This diverse investor group reflects the growing interest in blockchain technology as a solution for data privacy and security.
Terminal 3 was co-founded by Gary Liu, Malcolm Ong, and Joey Liu, who bring a wealth of experience as former entrepreneurs and business leaders. Prior to Terminal 3, they played key roles in the successful digital transformation of the South China Morning Post. Gary, Malcolm, and Joey also have experience in the Web3 space, having co-founded Artifact Labs, a blockchain startup focused on preserving historical assets.
The need for alternative data infrastructure has become increasingly critical due to stricter data privacy regulations worldwide. The General Data Protection Regulation (GDPR) in Europe and China’s Personal Information Protection Law (PIPL) have set the stage for more stringent privacy requirements. Companies in the US and UK have spent billions of dollars on GDPR compliance, with fines continuing to grow. Data breaches are also a growing concern, with global spending on data security projected to exceed $188 billion in 2023.
Blockchain technology offers a potential solution to these challenges, and Terminal 3 aims to be at the forefront of this transformation. Their decentralized user data infrastructure provides a compliant and secure alternative to traditional centralized storage. By empowering individuals with self-sovereign data ownership, Terminal 3 aims to bridge the gap between centralized and decentralized data systems.
The successful pre-seed funding round is a testament to the potential of Terminal 3’s vision. With the support of their world-class investor group, Terminal 3 is well-positioned to revolutionize data infrastructure and contribute to the growth of the Web3 ecosystem.
For more information about Terminal 3 and their mission, please visit their official website, Twitter, and LinkedIn profiles.