Outlier Ventures says it will work with the Midnight Foundation on a privacy tech accelerator focusing on decentralized identity and financial services.
The Midnight network is a privacy-enhancing blockchain project developed by Shielded Technologies.
Outlier explains that privacy-enhancing technologies (PETs) are a class of advanced cryptographic and computational techniques that enable data to be shared, processed, or analyzed without exposing sensitive information. Pets are vital for the development of evolving financial services.
Outlier Ventures and the Midnight Foundation are said to be combining resources to develop decentralized solutions that align with global regulatory frameworks.
Fahmi Syed, President of the Midnight Foundation, says that privacy is the foundation for real-world adoption, and they are providing a launchpad to create privacy-first apps that are also compliant.
Matt Law, Chief Commercial Officer at Outlier Ventures, says the program is designed to back founders who want to utilize “PETs to develop real, usable features in consumer-facing and enterprise applications.”
The PETs track joins other accelerators supported by Outlier, which include programs in DeFi, AI, DePIN, and real-world assets