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QANplatform Signs $15 Million VC Deal For Its Quantum-resistant Layer 1 Blockchain

QANplatform
QANplatform

Insider Brief

  • QANplatform signed a $15 Million investment contract with MBK Holding prior to its testnet launch.
  • Besides the investment commitment, MBK Holding offers growth services to facilitate global market access and expansion.
  • Image: From left to right: Mohammed Hassan Al-Jefairi (Serial entrepreneur), Johann Polecsak (Co-Founder and CTO of QANplatform), Yosouf Al-Salehi (Executive Director of Qatar Science & Technology Park), H.E. Sheikh Mansoor Bin Khalifa Al-Thani (Founder and Chairman of MBK Holding, member of the Qatari ruling family), Jevgenia Kim (CEO of QANplatform), Misfer Al-Hajri (Managing partner of idaAjyal)

PRESS RELEASE — QANplatform, the quantum-resistant Layer 1 blockchain, has successfully signed a $15 Million investment contract with MBK Holding prior to its highly anticipated testnet launch.

MBK Holding, an investment holding company with its main office in Qatar and a subsidiary in the United Kingdom, focuses on investing in technology startups. The Founder and Chairman, H.E. Sheikh Mansoor Bin Khalifa Al-Thani, member of the Qatari ruling family, formerly served for a decade as the director of information technology for The Council of The Qatar Ruling Family Affairs.

The announcement was held at the Qatar Science & Technology Park (QSTP) – Qatar’s premier hub for applied research, technology innovation, incubation, and entrepreneurship – by H.E. Sheikh Mansoor Bin Khalifa Al-Thani, Founder and Chairman of MBK Holding, Jevgenia Kim, CEO of QANplatform, and Johann Polecsak, Co-Founder and CTO of QANplatform.

Besides the $15 Million technology-focused investment commitment, MBK Holding offers growth services to facilitate global market access and expansion for QANplatform. MBK Holding’s focus extends to various regional markets, including Qatar, Saudi Arabia, United Arab Emirates, Turkey, and United Kingdom while also encompassing other global opportunities. MBK Holding recently signed a strategic partnership with the Ministry of Investment of Saudi Arabia to support entrepreneurial growth and innovation in Saudi Arabia by developing growth services that seek to create market-leading investment opportunities.

Responsive Image

A Layer 1 blockchain platform, like Ethereum or QANplatform, is the basic infrastructure of all blockchain projects and applications. It is comparable to the operating system of a computer. It is the fundamental base layer on top of which the ecosystem can build endless solutions. QANplatform will be the first EVM-compatible, quantum-resistant Layer 1 hybrid blockchain platform where developers can code smart contract, DApp, DeFi, DAO, token, NFT, Metaverse, CBDC, tokenized asset, and robust Web3 solutions on top of the QAN blockchain platform in any programming language.

As a hybrid blockchain, QANplatform will have a private and public blockchain as well. In September 2023, QANplatform marked a new era of Web3 OS (Operating System) with the launch of the QAN Private Blockchain. QANplatform has unveiled the world’s first private blockchain that is both quantum-resistant (using NIST primary recommended post-quantum algorithm), and compatible with Ethereum’s EVM, while also enabling developers to code smart contracts in any programming language.

One of the unique features of QANplatform, besides rapid cloud deployment or quantum-resistant security, is its ability to support smart contracts in any programming language. The QAN Virtual Machine (QVM) allows developers to write smart contracts in any Linux-Kernel-compatible programming language (like: JavaScript, Java, Python, TypeScript, C, C++, C#, etc.). This is a breakthrough for the whole blockchain ecosystem since most blockchain platforms are only compatible with the Ethereum smart contract language, Solidity. Out of over 26 million software developers worldwide only 200,000 can code in Solidity. Thanks to QANplatform’s invention of multi-language smart contracts, over 26 million software developers will be able to enter the Web3 space.

QANplatform’s ecosystem is building up with renowned companies such as Hacken, Beosin, or Alpine Esports. In February 2023, Alpine Esports, a Group Renault brand, and inter alia in the Formula 1® Esports Series signed QANplatform as its Official Blockchain Partner. In September 2023, QANplatform was selected to the Ernst & Young Startup Program as one of the nine selected promising startups in the technology and finance sectors, chosen from among hundreds of applicants globally.

H.E. Sheikh Mansoor Bin Khalifa Al-Thani, Founder and Chairman of MBK Holding said: “MBK Holding proudly backs QANplatform, the game-changing quantum-resistant blockchain platform and nominates Johann Polecsak as the Director of Blockchain of MBK Holding. Blockchain technology in general, is still an untapped area with many opportunities and potential to transform entire value chains, sectors, and business processes. As a deep tech startup, QANplatform can lead the next wave of blockchain platforms with its remarkable features, including multi-language smart contracts and quantum-resistant security. QANplatform is a great fit for our portfolio and partner companies to discover and benefit from the potential of its technology.”

Johann Polecsak, Co-Founder and CTO of QANplatform said: “Working alongside MBK Holding and their team is truly an honor. QANplatform is driven by the vision of creating the safest and most user-friendly blockchain platform, enabling the development of numerous real-world robust applications that bring tangible value to various industries.”

Jevgenia Kim, CEO of QANplatform said: “The strategic partnership with MBK Holding opens up new horizons and elevates the potential of QANplatform to unprecedented heights. We eagerly anticipate exploring new use cases and targeted regional market expansions, thanks to the support and opportunities provided by MBK Holding.”

If you found this article to be informative, you can explore more current quantum news here, exclusives, interviews, and podcasts.

Matt Swayne

With a several-decades long background in journalism and communications, Matt Swayne has worked as a science communicator for an R1 university for more than 12 years, specializing in translating high tech and deep tech for the general audience. He has served as a writer, editor and analyst at The Quantum Insider since its inception. In addition to his service as a science communicator, Matt also develops courses to improve the media and communications skills of scientists and has taught courses. [email protected]

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