Blockchain Startup Learning Machine Raises $3M in Seed Funding Round

In 2017, the Massachusetts Institute of Technology (MIT) announced that it teamed up with Learning Machine. Now, the blockchain startup has disclosed that it raised $3M in its latest seed funding round.

Learning Machine Making Moves

On Monday, word broke that Learning Machine raised $3 million. For those who don’t know, Learning Machine is a blockchain startup, known primarily for developing the system that put diplomas on the blockchain. PTB Ventures led the latest seed funding round. However, reports state Learn Capital and Omidyar Network played a defining role in the funding round as well.

Essentially, the blockchain startup wanted to develop a software tool that can link diplomas to various blockchains. This includes the Ethereum (available on Coinbase) and Bitcoin (available on Coinbase) blockchain. When academic certificates are linked to blockchains, the risk of being the victim of degree forgery is reduced. That said, just because you are eligible to choose the blockchain doesn’t mean you shouldn’t do ample research beforehand. Learning Machine recommends the masses only store their academic certificates on a blockchain with “a proven record.”

Good things appear to be on the horizon for Learning Machine and with CEO Chris Jagers experience in the space, it’s very likely the blockchain startup will be able to execute its plans to move simple documents, like diplomas and resumes, into the digital era. There is competition, though. MIT is not the only academic institution to get involved in this work. In October of last year, it was disclosed that an Australian University had tested blockchain technology in an attempt to back up academic documents.

What’s the Crypto Market Saying?

The Twitter crypto community appeared to be optimistic about the news. Here are some tweets that stood out.

Learning Machine raises seed to replace paper with blockchain credentials https://t.co/l8UO4JvjNY via @techcrunch
— Learning Machine (@LearningMach1) May 7, 2018

1/ I am very excited to share the news that PTB has led a $3mm seed round in Learning Machine Technologies. https://t.co/ialG8wor8b
— David Fields (@davetfields) May 7, 2018

The Takeaway

What do you think about the Learning Machine announcement? Additionally, what do you think about academic institutions using the blockchain to store documents? Let me know.

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