Cere Network raises $5 million to create decentralized data cloud platform

VentureBeat reports that investors have poured $5 million into Cere Network, which has recently unveiled for developers its new decentralized data cloud platform. Republic Labs, Woodstock Fund and JRR Capital were among the investors in this latest funding round which, when added to a previous investment by Binance Labs, Arrington XRP Capital and others, brings Cere Network’s total funds raised to $10 million. Cere Network CEO Fred Jin said they hope to distinguish their product from industry leader Snowflake by allowing “more data agility and data interoperability across different datasets and partners.” The Cere DDC platform employs blockchain technology, which enables hosting of thousands of data queries while ensuring high-level security for consumer data, which is automated into virtual datasets. A key component of Cere’s decentralized data cloud and its open data marketplace is the Cere token, which will allow trustless data-sharing, staking and governance. Republic will host the first public sale for the Cere token on March 31.