Provenance Blockchain

Provenance Blockchain, Inc.Founded in 2018 and headquartered in San Francisco, US, Provenance Blockchain, Inc. operates within the financial technology space, offering innovative blockchain solutions.Provenance Blockchain offers a robust suite of services designed specifically for financial products, aimed at enhancing transparency and efficiency within the financial sector. Their core offering is a distributed, proof-of-stake blockchain that facilitates the tokenization of real-world assets, targeting key challenges in traditional finance such as inefficiency and lack of traceability.Provenance Blockchain generates revenue through transaction fees associated with its blockchain services and the tokenization of assets. The firm's primary revenue stream is derived from the utilization of its blockchain by financial institutions and businesses, where clients pay fees based on the volume and complexity of transactions processed. For instance, a financial institution may engage Provenance to tokenize a portfolio of assets, incurring fees proportional to the total asset value being processed on the platform. The revenue model also includes partnership agreements, where institutions pay for access to proprietary technology such as the DART system for real-time asset tracking and updates. The company is focusing on launching new features for its blockchain services aimed at improving asset tokenization and compliance measures by 2023. Additionally, Provenance Blockchain is looking to expand its services into international markets, specifically targeting Europe and Asia by the end of 2024, to better serve the growing demand for blockchain-based financial solutions.

1. Seed

   May 8, 2019

   Amount

   $20M

   Investors

   Locked