Open Platform
Blockchain payments infrastructure for apps.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
N/A | Early VC | ||
| Total Funding | 000k | ||
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Open Platform, established in 2017 by founder and CEO Ken Sangha, was a venture-backed entity headquartered in San Francisco that operated within the blockchain infrastructure sector. The firm's strategic focus was on simplifying the integration of blockchain technology for mainstream application developers. It aimed to bridge the gap between existing centralized applications and the emerging decentralized ecosystem, thereby lowering the barrier to entry for developers unfamiliar with blockchain-specific programming languages or protocols.
The core of its business was providing a middleware solution that allowed developers to incorporate blockchain-based payments and data functionalities into their applications. This was facilitated through a suite of tools, primarily the OPEN API and software development kits (SDKs) available for multiple programming languages. A key component of their technology was the 'Scaffold,' a smart contract framework that enabled applications to interact with on-chain components and manage payment logic. This hybrid on-chain and off-chain architecture was designed to allow developers to accept various cryptocurrencies and sync transaction data with their application's backend database without needing to completely re-engineer their existing tech stack.
The business model was intertwined with its native utility token, the OPEN Token. Developers were intended to use this token to access and operate the Scaffold infrastructure, effectively creating a token-based economy for utilizing the platform's services. The company targeted a broad spectrum of developers, from gaming and enterprise to utility applications, accommodating both centralized and decentralized models. Sangha's background as a successful gaming entrepreneur informed the company's approach to creating a developer-friendly platform. Despite its efforts to build payment rails for the decentralized web, public records indicate that Open Platform ceased operations as of mid-2024.
Keywords: Ken Sangha, blockchain middleware, decentralized application development, crypto payment integration, developer API, smart contract framework, OPEN Scaffold Protocol, blockchain payment infrastructure, application developer tools, centralized to decentralized, on-chain payments, fintech infrastructure, developer wallet, San Francisco startup, blockchain for apps, crypto API, ceased operations, out of business, payment data synchronization, developer-first blockchain