Building on a University of Warwick and EPFL research partnership, ByzGen has licensed patents through Crossword Cybersecurity to develop blockchain-powered data management applicatioins for national defence and security purposes.
ByzGen, a UK-based blockchain application developer spun out from University of Warwick and École polytechnique fédérale de Lausanne (EPFL), obtained £500,000 ($673,000) of seed funding today from consultancy firm Regulatory Financial Services.
Founded in May 2017, ByzGen makes products for the national defence and security sectors that exploit the advantages of blockchain technology to enhance the client’s data management processes. Blockchain is a digital database system that relies on a decentralised peer-to-peer network to offer security and accessibility.
ByzGen was formed from a project undertaken by the cybersecurity group at University of Warwick, led by its director, Prof Tim Watson, and the team of Bryan Ford, associate professor in EPFL’s Distributed and Distributed Systems Laboratory.
ByzGen licensed intellectual property relating to blockchain technology from cybersecurity-focused tech transfer company Crossword Cybersecurity, which has a long-term commercial agreement in place with the spinout. Marcus Ralphs, a former British army officer, has been selected to lead the business as chief executive.
