GRAND CAYMAN, Cayman Islands, July 17, 2018 /PRNewswire/ -- Kochava Labs SEZC, a research and development subsidiary of Kochava Inc., announced a lead investment from global blockchain investments fund, Hashed, in XCHNG, the open source blockchain framework for the digital advertising ecosystem. As one of South Korea's first crypto assets funds, Hashed focuses its investments on high-performance blockchain protocols that are applicable to industry.
With Hashed's investment secured, XCHNG intends on including additional private presale partners and will continue its current efforts in establishing OnXCHNG partners and building out the protocol leading up to a sandbox launch, anticipated for Q3 2018.
XCHNG is built upon a high performance blockchain and is designed specifically for the digital advertising industry—capable of handling millions of transactions per second, as demanded by the current ecosystem. XCHNG's daily rolling chain capability makes it one of the fastest blockchain protocols in the space.
Kochava Labs CEO, Charles Manning, said: "With XCHNG, we are focused on building a new set of standards for the digital advertising industry to combat some of the most prevalent issues faced by marketers and publishers alike. The Hashed team understands our long-term vision and what we are trying to achieve. As XCHNG continues to develop, it is important for us to have insight and guidance from key players at the intersection of blockchain and advertising. We're thrilled to have Hashed onboard and look forward to working intimately with the team to catapult XCHNG into the premier blockchain solution for the ecosystem."
Hashed's largest holdings currently include major blockchain projects, including EOS, OmiseGO, Ethereum, and Kyber Network. The fund focuses on the long-term value of projects and industry transformation through blockchain technology.
Hashed CEO and Partner, Simon Seojoon Kim, said: "At Hashed, we are very passionate about the potential of blockchain technology and are focused on projects that have real impact to disrupt the status quo. We come from a variety of backgrounds, including serial entrepreneurs to engineers and investment professionals. Half of our partners, at one point in their careers, have worked in ad tech and are very familiar with the frictions and challenges in the space. We're all big fans of Charles and his team's work and are confident that if anyone can bring blockchain to the ad tech industry, it'll be XCHNG."
Kochava Labs CEO Charles Manning is available for interview.
About XCHNG XCHNG is an open and unified blockchain-based framework for the digital advertising ecosystem. Designed and deployed by Kochava Labs SEZC, a research and development subsidiary of Kochava Inc., the XCHNG framework is centered around a common Ricardian Smart Contract with an open blockchain implementation to persist transactional history and provide supporting utilities required for maximizing efficiency through the lifecycle of the IO. XCHNG is designed to enable the related targeting and activation of audiences, bolsters ad-spend efficiency and transparency, establishes a next-generation system of record for all participants.