Mar 6, 2020 - Economy & Business

Permanent data storage startup Arweave raises $8.3 million as China censors coronavirus critics

A coronavirus cell in a folder.

Illustration: Sarah Grillo/Axios

Arweave, a London-based blockchain startup focused on permanent data storage, raised $8.3 million in tokenized funding from Andreessen Horowitz, Coinbase Ventures and Union Square Ventures.

Why it matters: The company's technology is designed to create permanent record of web content — a boon to fighting government censorship, but a possible nightmare for "right to be forgotten" advocates.

The bottom line: "The Chinese government has been removing criticism of its coronavirus response from apps like Weibo, the local equivalent of Twitter. But before it can, that content is being saved, decentralized, and highlighted thanks to Arweave’s permaweb," writes TechCrunch.

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