Fluree, a North Carolina startup that wants to bring the immutability of blockchain to the database, announced a $4.7 million seed round today led by 4490 Ventures with participation from Revolution’s Rise of the Rest Seed Fund.
As CEO and co-founder Brian Platz explains, the database combines blockchain and graph database technologies to offer a new way of thinking about storing and querying data. “The real benefits it provides is immense integrity around the data, so you can prove it has never been tampered with, who put it in there, etc., something you can’t do with current databases or other data management technologies.”
He added, “It has the ability to make the data immensely collaborative by allowing multiple parties to actually interact with it and improve security, and it really allows you, especially with how we’ve organized our database, to get better leverage out of the data.”
If you’re thinking such a database would be slow because of the nature of decentralized data, Platz says that it really depends how you choose to tune your blockchain. He sees blockchain technology on a spectrum with choices and tradeoffs between speed and decentralization.