SOUTH BEND, Ind.–(BUSINESS WIRE)–SIMBA Chain, an Application Programming Interface development platform that helps enterprise companies build technology on blockchain, has announced its acquisition of privacy and storage company, StrongSalt.
The acquisition of StrongSalt will enable SIMBA Chain — the leading connector to Web3 for Web2 businesses — to scale its privacy and secure storage-focused offerings, while fully integrating high-performance data functionalities for its customer base, marking a major step forward for the future of security within blockchain technologies.
SIMBA Chain will first focus its newly enhanced privacy efforts on its robust non-fungible token (NFT) product suite. NFTs are becoming a vehicle to widespread adoption of blockchain by legacy tech companies, but current privacy issues and insufficient security within the space have so far hindered widespread adoption. StrongSalt’s patented technology will address this issue by allowing sensitive NFT data to be searched and accessed without compromising the privacy of the information. This enhances the security of NFTs stored on SIMBA Chain’s platform, and helps expand the application opportunities for digital assets with privacy.
The increased privacy and secure storage solutions for NFTs across the SIMBA platform will open the doors for a broader range of NFT-driven use cases – including but not limited to enhanced healthcare data privacy, secure messaging platforms for government agencies and highly classified projects, and added digital asset and IP protection for next-generation gaming platforms.
“Acquiring StrongSalt gives SIMBA a critical capability to provide both privacy and storage in a way that does not disturb the scalability of our platform, and most importantly, ensures our Web2 partners that interacting with Web3 technologies can be exceptionally secure,” said Bryan Ritchie, CEO of SIMBA Chain.
SIMBA Chain, founded in 2017, has built a Web3 infrastructure development platform autogenerating an extensive family of APIs that support a large sum of blockchains, allowing customers to launch blockchain applications without hiring costly consultants or consuming valuable tech expertise. Operating with a wide variety of audiences, including NFT platforms, government, education, gaming, and enterprise, the SIMBA Chain platform allows for a level of flexibility and customization unmatched by simply building an application on a traditional blockchain.
“The moment StrongSalt met with the SIMBA team, we realized the opportunity our teams had to collectively offer a solution unmatched by any market competitor,” said Paul Lung, Chief Technology Officer of StrongSalt. “This acquisition will integrate our infrastructures to provide a high-quality pathway for Web2 organizations to achieve privacy and security afforded by Web3 technologies. We cannot wait to be a part of building the future of the Internet alongside SIMBA.”
About SIMBA Chain, Inc.
SIMBA Chain is the chain-agnostic Application Programming Interface (API) development platform providing pathways to Web3 for cloud-based Web2 companies. NFT platforms, enterprise organizations, governments, universities, and individual programmers can quickly develop and deploy Web 3 distributed applications (dApps) utilizing SIMBA’s simple, accessible, and flexible product and solutions suite. SIMBA was founded in 2017 through a DARPA grant awarded to the University of Notre Dame and ITAMCO, and has received multiple awards, including a 2020 U.S. Small Business Administration Tibbetts Award, TechPoint’s 2019 Mira Award for New Product of the Year, and 1st Source Bank’s 2019 Commercialization Award. SIMBA Chain’s eco-friendly, energy efficient platform supports Avalanche, Ethereum, Consensys Quorum, Binance Smart Chain, RSK, Stellar, Hyperledger, among other blockchain protocols. To learn more, visit simbachain.com.
About StrongSalt Inc.
StrongSalt is an encryption and storage platform that helps build a new privacy infrastructure for the internet. StrongSalt is solving the fundamental problem of data privacy by building the world’s first always-on searchable encryption infrastructure through APIs that are simple enough for any developer to use, yet secure enough to power the world’s most demanding applications.