The founders of the online dating site OkCupid has raised $10.8 million for their new cryptography venture.
Dubbed as Keybase, the project is an attempt towards introducing public key cryptography, like those used by Bitcoins, to everyone in the world. With doing so, the makers expect to secure online message sharing, as well as to provide passwordless login systems, safer software developments, data backups and collaborations, and easily deletable videos and photos’ services.
The project however was started with a core aim to introduce encrypted messaging between two parties. As stated in the founders’ earlier statements, they were trying to borrow Bitcoin’s cryptographic key pair technology and mould it further to simplify it for general public. The decision to add more features, therefore, come as a surprise, as well as a reason enough behind the new funding.
“We’ve gotten more ambitious,” wrote founders Max Krohn and Chris Coyne in a blogpost. “We have a new goal: to bring public key crypto to everyone in the world, even people who don’t understand it. We are building open source apps that anyone can use.”
“Yet the above are all applications based on technologies that exist now. In the future, the lock on your front door and your car’s AI will be connected to a network. Then—like it or not—the only safe way to control your life will be with public key crypto.”
Keybase has received support from Andreessen Horowitz, alongside nine other individual investors, including Reddit co-founder Alexis Ohanian; Markbot Industries’ co-founder Bre Pettis; and chain.com’s founder and CEO Adam Ludwin, who is also assisting Nasdaq to integrate Bitcoin’s blockchain into their securities settlement framework.