A London startup is looking to revolutionise the book publishing industry with blockchain technology.
Libraro has emerged from blockchain incubator programme Block Dojo, part of nChain Group, and received £2 million funding from nChain for a 20% equity stake which will be used to drive the development and adoption of Libraro’s solution.
Libraro harnesses the power of crowd reading to connect authors with readers and publishers in an innovative way.
“We’re very excited to partner with nChain and leverage their expertise in blockchain technology,” said Arsim Shillova, Libraro CEO.
“Their investment will help us build a state-of-the-art, secure and scalable platform for aspiring authors to showcase their work, protect their intellectual property, and engage with their audience.”
Shillova is currently serving as chief growth officer of commercial weather data firm Exovision GmbH on a contractual basis, according to his LinkedIn profile.
nChain said that by leveraging its Web3 and blockchain IP portfolio, the partnership will enhance Libraro’s platform capabilities. nChain will also support Libraro through development and professional services, using their expertise in building apps and providing back-end blockchain infrastructure.
Christen-Ager Hanssen, nChain Group CEO, added: “We’re happy to announce our partnership with Libraro. With our expertise and development capabilities nChain will be their tech partner, using our IP portfolio, to boost their product offering.
“This solution has the potential to transform the publishing model by empowering readers and helping new writers get published. Our collaboration with Libraro is another great use case in another industry where we are making an impact.”