Details

Last Funding Type

Pre-seed

Last Funding Money Raised

$107K

Industries

Blockchain,Geospatial,Indoor Positioning,Information Technology,Internet of Things,IT Infrastructure,Navigation

Founded date

Feb 16, 2022

Number Of Employee

11 - 50

Operating Status

Active

Legal Name

Prometeo Chain System LLC

Prometeo Chain System LLC is an American company based in Delaware with an operative office in Kazakhstan with our local company, Prometeo Chain System KZ LTD based in AIFC, and a member of Astana Hub the largest techno-park of IT start-ups in Central Asia.

The company is involved in creating an entire technological ecosystem of 4 different systems. With the help of blockchain technology, we support data protection and privacy.

The company has a patent for a new blockchain system and four new technologies, because we want to integrate blockchain into daily life, in the same manner, users applying it financial purposes

The two technologies under development for the next 2 year are:

A new type of blockchain named Prometeo, which contains new consensus mechanism called proof-of-unity.With Prometeo, the company aims to solve the trilemma including scalability, security, and decentralization, hypothesized by Buterin, the inventor of the Ethereum blockchain. In addition, Prometeo will have two new features that will create secure, reliable, and user-friendly network.
They are:

Use of biometric data. Biometric data is used in order to protect the transactions from fake confirmations and help recovering wallets, if their private keys are lost.

Roll-back system. System that will allow you to review and modify the transaction.

These two innovations are impossible to find in the blockchain market today. But core innovative approach of our company will make it possible and accessible

The second technology is Ikarus an alternative to the GNSS (GPS, Galileo…) as a navigation and time-stamp management system. With the help of the blockchain and the use of low radio frequencies, we will be able to fulfil the tasks on par with the satellite system, but without the associated costs and implementation times, not to mention the maintenance that is involved in the satellite system today. Thanks to the use of blockchain, it will also allow for numerous third-party services to be implemented, but without the related costs that GPS technology requires today. Ikarus system will create a network that will be protected and safe enough even to manage strategic assets for a country (electricity, finance, banking, traffic system, and many more) that require a safe and reliable timestamp without delegating their protection to a third country.