Inrupt, the startup founded by Web creator Tim Berners-Lee and technologist John Bruce has raised about $30 million in its Series A financing round reported TechCrunch
The company has grown from research on its SOLiD platform which is attempting to
“reshape the internet”
by building a platform that gives users control of their data according to cryptography expert Bruce Schneier who is part of the Inrupt team.
“Business transformation is hampered by different parts of one’s life being managed by different silos, each of which looks after one vertical slice of life,” said Berners-Lee in a statement.
“Meanwhile, that data is exploited by the silo in question, leading to increasing, very reasonable, public skepticism about how personal data is being misused.”
Inrupt’s platform enables users to store their personal data in something called a POD (Personal Online Datastores). These PODs are interoperable with decentrealized applications and can be decoupled whenever the user prefers to do so. Inrupt is attempting to emulate core infrastructure, standards and tools of companies such as Visa and Verisign, who provide safe ways to identify financial and web transactions.