Barrel Protocol
Barrel Protocol automates consumer data compliance using smart contracts and intends to be the container for GDPR Compliant data.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
* | $4.0m | Seed | |
| Total Funding | 000k | ||
| USD | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 |
| EBITDA | 0000 | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 | 0000 |
| EV | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 |
Source: Dealroom estimates
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Barrel.Network operates in the blockchain and data compliance sector, focusing on automating the compliance of consumer datasets using smart contracts. The company serves data sellers and buyers, particularly those impacted by GDPR and other data privacy regulations. By leveraging blockchain technology, Barrel.Network ensures that data is anonymized and verified efficiently, reducing the cost and complexity of compliance. The business model revolves around a Proof of Anonymization system where refiners anonymize data blocks and nodes verify them, similar to Bitcoin hashing. This process not only shortens sales cycles and lowers integration costs but also opens new markets for data transactions. Revenue is generated through fees for data compliance services and transaction facilitation on their platform.
Keywords: Blockchain, Data Compliance, Smart Contracts, GDPR, Anonymization, Data Marketplace, Proof of Anonymization, Data Privacy, Compliance Automation, Data Verification.