The startup was previously known as Blockai, but its rebranding today the new name is meant to focus less on technology and insteademphasize the idea of creating a legally binding record. Put another way: As a company and productname,Binded probably soundsmore appealing to people who arent bitcoin and blockchain nerds.
The startupis also announcing that it has raised an additional $950,000 from investors, includingMistletoe (led by Taizo Son, founder of gaming company GungHo and youngest brother of SoftBanks Masayoshi Son), Japanese newspaper Asahi Shimbun, Vectr Ventures, M&Y Growth Partners, Tokyo Founders Fund and Social Starts. This brings Bindeds total funding to $1.5 million.
Binded CEO Nathan Lands suggested that bringing Japanese investors on-board is is a step in the right direction to become the standard for copyright globally.
Why is that kind of standard needed? Well, in the U.S., while your creative work is copyrighted as soon as its created, you need to register it with the U.S. Copyright Officeif you want to file a lawsuit. Lands has pitched Bindeds platform as an intermediate step less time-consuming and expensive than registration, but still creating an independent record that should have legal weight.
We want to democratize copyright, he said.
In fact, Lands pledged that the core Binded product will always be free. The plan is to add more services over time that the company could potentially charge for over time, like the ability to registerwith the Copyright Office.
Read more: https://techcrunch.com/2017/05/25/binded/