{"id":83577,"date":"2023-08-03T15:42:07","date_gmt":"2023-08-03T07:42:07","guid":{"rendered":"https:\/\/bppe.com\/perspectives\/?p=83577"},"modified":"2023-08-03T15:42:07","modified_gmt":"2023-08-03T07:42:07","slug":"terminal-3-raises-pre-seed-funding-for-decentralized-user-date-infrastructure","status":"publish","type":"post","link":"https:\/\/bppe.com\/perspectives\/terminal-3-raises-pre-seed-funding-for-decentralized-user-date-infrastructure\/","title":{"rendered":"Terminal 3 Raises Pre-Seed Funding for Decentralized User Data Infrastructure"},"content":{"rendered":"

[vc_row row_height_percent=”0″ override_padding=”yes” h_padding=”2″ top_padding=”6″ bottom_padding=”4″ overlay_alpha=”50″ gutter_size=”3″ column_width_percent=”100″ shift_y=”0″ z_index=”0″ uncode_shortcode_id=”239032″ el_class=”scaletext”][vc_column column_width_percent=”100″ gutter_size=”3″ overlay_alpha=”50″ shift_x=”0″ shift_y=”0″ shift_y_down=”0″ z_index=”0″ medium_width=”0″ mobile_width=”0″ width=”1\/1″ uncode_shortcode_id=”191191″][vc_column_text text_lead=”small” text_color=”color-961124″ uncode_shortcode_id=”437278″ text_color_type=”uncode-palette” el_class=”newsdate”]02.08.2023
\nNEWS PROVIDED BY TERMINAL 3[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_height_percent=”0″ override_padding=”yes” h_padding=”2″ top_padding=”2″ bottom_padding=”2″ overlay_alpha=”50″ gutter_size=”3″ column_width_percent=”100″ shift_y=”0″ z_index=”0″ uncode_shortcode_id=”209507″ el_class=”scaletext”][vc_column column_width_percent=”100″ gutter_size=”3″ overlay_alpha=”50″ shift_x=”0″ shift_y=”0″ shift_y_down=”0″ z_index=”0″ medium_width=”0″ mobile_width=”0″ width=”1\/1″ uncode_shortcode_id=”989716″][vc_separator sep_color=”color-117836″ uncode_shortcode_id=”605468″ sep_color_type=”uncode-palette”][vc_row_inner limit_content=””][vc_column_inner column_width_use_pixel=”yes” position_horizontal=”left” gutter_size=”3″ overlay_alpha=”50″ shift_x=”0″ shift_y=”0″ shift_y_down=”0″ z_index=”0″ medium_width=”0″ mobile_width=”0″ width=”1\/1″ uncode_shortcode_id=”195831″ column_width_pixel=”700″][vc_custom_heading auto_text=”yes” css_animation=”alpha-anim” animation_speed=”300″ animation_delay=”300″ uncode_shortcode_id=”113353″][\/vc_custom_heading][\/vc_column_inner][\/vc_row_inner][vc_separator sep_color=”color-117836″ uncode_shortcode_id=”605468″ sep_color_type=”uncode-palette”][\/vc_column][\/vc_row][vc_row row_height_percent=”0″ override_padding=”yes” h_padding=”2″ top_padding=”2″ bottom_padding=”2″ overlay_alpha=”50″ gutter_size=”3″ column_width_percent=”100″ shift_y=”0″ z_index=”0″ uncode_shortcode_id=”370089″ el_class=”scaletext”][vc_column width=”1\/2″][vc_column_text uncode_shortcode_id=”175504″]<\/p>\n

HONG KONG, 2 August 2023<\/strong>\u00a0\u2013\u00a0Terminal 3<\/a>, a Hong Kong-based Web3 startup, has successfully raised an oversubscribed pre-seed round to build user data infrastructure for a decentralized future. The company announced today a world-class investor group comprising 500 Global, CMCC Global, Consensys Mesh, Bixin Ventures, BlackPine, DWeb3, Hard Yaka, Bored Room Ventures, Mozaik Capital, and others.<\/p>\n

The company aims to replace centralized data storage that deprives users of privacy and saddles enterprises with compliance and security issues and their associated costs. Terminal 3 leverages decentralized storage and zero-knowledge proofs to empower an equitable Web3, where user data is freely composable while remaining fully private and secure.<\/p>\n

\u201cThe continued growth in blockchain allows us to reimagine digital data ownership and security,\u201d said Gary Liu, CEO of Terminal 3. \u201cWe believe that data should flow freely between applications to drive innovation and improve user experience, but not at the expense of personal privacy and control.\u201d<\/p>\n

Terminal 3 was co-founded by Gary Liu alongside his partners Malcolm Ong (CPO) and Joey Liu (COO). All three were former entrepreneurs and business leaders who have built, scaled, and transformed some of the world\u2019s leading technology companies. The co-founders previously worked together at the South China Morning Post, where they led the historic newspaper\u2019s successful digital transformation. Gary was the Post\u2019s CEO, while Malcolm and Joey were SVP of Product and Head of Strategy respectively.<\/p>\n

Malcolm was also the Co-founder and CTO of Skillshare, the world\u2019s largest online learning community for creativity, while Gary and Joey co-founded Artifact Labs, a Web3 startup backed by Blue Pool Capital and Animoca Brands that is preserving historical assets on the blockchain. Gary is also the Founding Chair of Web3 Harbour, an association in Hong Kong serving Web3 builders, investors, users, and leaders.<\/p>\n

\u201cI believe Gary, Malcolm, and Joey are perfectly suited to address data privacy problems that plague the internet,\u201d said Vishal Harnal, Managing Partner at 500 Global. \u201cTheir mix of consumer startup success and expertise in enterprise technology could help bridge a critical gap between the old world of centralized data and the new world of decentralized identity.\u201d<\/p>\n

Growing Need for Alternative Data Infrastructure<\/strong><\/p>\n

Over the past five years, new regulations on data privacy have created a stringent environment for the storage and use of personal information worldwide. Led by Europe\u2019s General Data Protection Regulation (GDPR) and China\u2019s Personal Information Protection Law (PIPL), global regulators and lawmakers are increasingly holding enterprises accountable for the protection of individual privacy. This trend is set to continue with the approval of the Digital Market Act in Europe and upcoming GDPR-inspired laws in the United States and around the world.<\/p>\n

US and UK corporations have spent over US$9 billion on GDPR compliance since 2018, with those investing incurring average costs of US$1 million annually. However, over 40% of companies still lack any budget for such compliance while GDPR fines continue to grow, with Meta alone sustaining over US$2.3 billion in penalties.<\/p>\n

Data security is also a costly enterprise concern as data breaches accelerate in frequency. Global spending on data security and risk management products is projected to exceed US$188 billion in 2023. However, in a world where 90% of companies rely on multi-cloud environments, data privacy and security issues will grow regardless of investment.<\/p>\n

Blockchain technology is increasingly viewed by corporate executives as a solution for user data privacy and security. In a recent survey of US Fortune 500 companies, Coinbase found that 51% of enterprises that use or plan to use blockchain employ the technology for \u2018Data Collection and Management\u2019.<\/p>\n

\u201cTerminal 3 is a compelling alternative to the non-compliant and unsecured data infrastructure that enterprises rely on today,\u201d said Shawn Cheng, Partner at Consensys Mesh. \u201cData regulations and security laws are becoming more stringent around the world, and companies are finally realizing that self-sovereign data is a great solution for both users and enterprises. We are excited to be involved in this important project.\u201d<\/p>\n

\u201cScaling Web3 will require the re-invention of core enterprise technologies,\u201d added Gary Liu. \u201cTerminal 3 is building solutions that serve both corporations and individuals, to enable this critical shift in our digital world.\u201d<\/p>\n

About Terminal 3<\/strong><\/p>\n

Terminal 3<\/a>\u00a0is a Hong Kong-based Web3 startup building user data infrastructure for a decentralized future. The company\u2019s solutions are an alternative to centralized data storage that deprives users of privacy and saddles enterprises with compliance and security concerns. Terminal 3 leverages decentralized storage and zero-knowledge proofs to empower an equitable Web3 where user data is freely composable while remaining fully private and secure. The company\u2019s founders are successful corporate executives and entrepreneurs, who have built, scaled, and transformed some of the world\u2019s most important companies. Terminal 3 is also backed by world-class investors including 500 Global, CMCC Global, Consensys Mesh, Bixin Ventures, BlackPine, DWeb3, Hard Yaka, and Bored Room Ventures.<\/p>\n

For more information about Terminal 3, please visit Terminal 3’s:\u00a0Official Website<\/a>\u00a0|\u00a0Twitter<\/a>\u00a0|\u00a0LinkedIn<\/a><\/p>\n

Contact<\/strong><\/p>\n

Joey Liu
\nTerminal 3
\njoey@terminal3.io[\/vc_column_text][vc_gallery][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

Terminal 3, a Hong Kong-based Web3 startup, has successfully raised an oversubscribed pre-seed round to build user data infrastructure for a decentralized future. 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