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M11 group has acquired the Accountable product from Weavechain to support the launch of Accountable as an independent company.
“We are excited about the opportunity to support our new venture with a tech-stack that enables attestations of client assets while maintaining full privacy and sovereignty of data. This technology will enable the crypto credit sector to drive increased lending activity by pioneering innovation in the rapidly evolving landscape of decentralized finance.”
Weavechain is pleased to announce the acquisition of its Accountable product, a solution for Verifiable Financial Data, by M11 Group. This transfer supports the launch of Accountable as an independent company, led by Wojciech Pawlowski and Ioan Moldovan. Accountable has also signed on as the first external Core Contributor to the Weavechain protocol. This landmark acquisition solidifies both entitiesÂ’ commitment to advancements in decentralized finance & blockchain technology.
Weavechain proudly demonstrates its dedication to fostering utilitarian innovation within the blockchain space with this sale, affirming its belief that use cases developed in-house should be integrated into broader industry ecosystems. By leveraging zero-knowledge proofs (ZKPs), anchor hashing, and immutability, Accountable provides irrefutably provable, real-time portfolio analytics without sacrificing custodian privacy.
Joost van der Plas, CEO of M11 Group, commented on the acquisition: “We are excited about the opportunity to support our new venture with a tech-stack that enables attestations of client assets while maintaining full privacy and sovereignty of data. This technology will enable the crypto credit sector to drive increased lending activity by pioneering innovation in the rapidly evolving landscape of decentralized finance.”
Leveraging the Weavechain ProtocolÂ’s capabilities, Accountable enables financial attestations like Proof of Reserves in a way thatÂ’s transparent, tamper-proof, and verifiable using cryptography. Furthermore, the integration of Proof of Custodianship addresses critical issues, preventing situations like those that led to the FTX collapse, thereby enhancing the overall integrity of decentralized financial ecosystems.
The companies remain committed to driving innovation, security, and transparency in crypto economies and technology, where they work towards transforming the landscape of decentralized finance. This acquisition sets the stage for future partnerships and industry advancements with foundations rooted in the Weavechain Protocol.
About Weavechain
Weavechain upgrades traditional databases to have Web3 properties, gaining blockchain-hardened verifiability guarantees, and the ability to participate in data economies.
About M11 Group
M11 Group is a global blockchain and crypto-native investment firm that originates from MAVEN 11, a leading venture capital investor in the crypto ecosystem. Since inception in 2015 the group expanded their activities to asset management, credit underwriting and DeFi market making.
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Web3
- Contact Information
- Omar ElNaggar
- CEO & Co-Founder
- Weavechain
- hello@weavechain.com
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