Japan and its buisness minds hae once again shown their commitment to the blockchain space as a leading company in the nation, Recruit Holdings Co., announced that, via its recently launched blockchain technology fund, it had invested in Beam Development Limited.

Beam, a privacy based coin on Mimblewimble recieved the good news on Monday that Recruit Holdings, which owns the world’s number one online job search engine with over 200 million unique visitors per month, had decided to back the coin.

New Beam partner's logo, Recruit Holdings Co.
New Beam partner’s logo, Recruit Holdings Co.

The Japanese companie’s blockchain technology fund was established in November 2018 by Recruit Co., Ltd., an intermediate holding company of Recruit Holdings Co., Ltd. and has a worth around $25 million. Recruit reacted to the news by putting out a press release:

“Recently, with the increase in settlement services and exchange services using tokens, there are great expectations for the use of blockchains in corporate activities. However, with existing tokens, there is a challenge of potentially confidential transaction data information being leaked to third parties. While securing Auditability of transactions by allowing transaction data to be verified by a specified third party, Beam token provides a blockchain with a function that prevents the divulgation of transaction data to third parties and protects the user’s transaction information. “

Beam and the Mimblewimble project as a whole has clearly left a big mark on the space, with it constantly making headlines. According to the website, here are some of Beam’s key features:

  • “All transactions are private by default”
  • “No addresses or other private information are stored on the blockchain”
  • “Opt-in Auditability”
  • “Confidential Assets”
  • “Supports online and offline transactions, atomic swap, hardware wallets integration”

Mimblewimble backs privacy and autonomy or its users in the space and is a community project. It was set up in 2016, but has really started to make its big splash more recently. The development of Beam started in March 2018, and the Beam mainnet launched at 01:40 UTC on January 3rd.