Google and Coinbase Alumni Secure $5M for Icebreaker, Blockchain’s LinkedIn Rival

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As a seasoned professional who has navigated the labyrinth of professional networking platforms for decades, I can’t help but feel a sense of anticipation and excitement about Icebreaker. Having seen firsthand the limitations and frustrations of closed networks like LinkedIn, the potential of an open-source, blockchain-powered alternative is truly tantalizing.

A groundbreaking platform called Icebreaker, aiming to become the world’s inaugural open-source professional network based on blockchain technology, has raised $5 million in seed funding. This innovative platform is poised to challenge the reign of closed networks like LinkedIn, which frequently store and commercialize user data.

1) CoinFund served as the primary investor in a recent funding round, with additional contributions coming from well-known venture capital firms such as Accomplice, Anagram, and Legion Capital. Currently valued at $21 million, Icebreaker’s worth underscores the faith that investors have in its capacity to reshape the professional networking sector.

Blockchain-Powered Open Network for Professional Identities

Dan Stone and Jack Dillé, co-founders of Icebreaker, come from tech powerhouses like Google and Coinbase. They envision a world where individuals manage and possess their professional personas and reputations rather than relying on centralized platforms. This concept appeals to numerous professionals who have encountered issues with LinkedIn’s subscription fees and credit systems.

“Picture this: When you press the login button, you’d instantly see all your connections from LinkedIn, Twitter, Farcaster, and emails in one place. Can you imagine the number of introductions that could be made more efficiently if we had a complete view of our connection web?” – Stone’s explanation.

Icebreaker leverages blockchain technology to enable users to consolidate their professional identities and networks into a single, authenticated platform. The creators envision this as a “public network of reputation and identity”, contrasting it with LinkedIn’s “exclusive network” strategy, which they argue restricts data access and impedes the effortless discovery of potential candidates and opportunities online.

Crushing Fake Profiles Fast

The rise of AI-generated content and fake profiles online has eroded trust in traditional social media platforms. Icebreaker tackles this head-on by enabling users to instantly verify their credentials and provide verifiable endorsements within their network. This fosters a more reliable and trustworthy environment for professional interactions.

Dillé personally calls attention to this problem, referencing his own LinkedIn page where he humorously labeled himself as “Google’s CEO” to demonstrate the simplicity of disseminating misinformation on Web2 networking sites. Icebreaker intends to address these weaknesses for job applicants and recruiters alike.

“Our latest financing enables us to expand both our workforce and the creation of our products,” the company explained. This investment is vital for constructing a strong platform capable of challenging industry leaders such as LinkedIn.

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2024-07-31 17:12