Donuts makes an investment in Netki.
Donuts has made its second investment under its Donuts Labs program.
Netki, Inc. is billed as a digital identity startup dedicated to democratizing digital currency. Just how does this relate to DNS? Here’s how Donuts explains it:
As a distributed database, the blockchain maintains a continuously growing list of data records. Blockchain-based applications, such as bitcoin wallets, utilize complicated, 32-character alphanumeric wallet addresses; Netki’s Wallet Name Service makes blockchain applications user-friendlier by generating easy to remember “wallet names.” Netki leverages “secure DNS” (known formally as domain name system security extensions, or DNSSEC) to map wallet names to blockchain-based public addresses. End-users can then safely share their wallet names in a way that improves security and privacy when compared to current practices.
In May, Donuts announced an investment in geofencing company GeoFrenzy.
I’m not surprised that Donuts invested in a blockchain company. When I interviewed Donuts COO Richard Tindal and CEO Paul Stahura in May, blockchain came up many times.