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Element, the company behind the end-to-end encrypted messaging platform powered by the Matrix protocol, has raised 50 million, with funding from a number of notable supporters, including Skype co-founder John Tallinn’s Metaplanet, WordPress.com Parent company mat tomatic, protocol labs and concept.
Within a week that Salesforce saw Slack officially take over its wing, a total of .7 27.7 billion acquisitions serve as an important timely reminder of the team chat and collaboration tools that are quickly accepted in the world of remote work. Nevertheless, open source software is infiltrating every number and crane in the business world, a combination that puts the four-year element in a strong position.
Develops an open pun source messaging client on top of the London-based Element Matrix, a distortion of which was created in Amadex by an open standards-based communication protocol. Matthew Hodgson Others Amandin Le Pepe In 2014. The duo left Amdox in 2017 to focus on the growth and commercialization of the matrix through a company called New Vector developed a matrix hosting service and a cross-platform slack option called Wright. In 2018, the Matrix.org Foundation cemented the growth of the Matrix as a non-profit non-profit entity, while last year Hodgson and Le Pepe renamed both the New Vector and Riot application as elements.
So what exactly Is Matrix, and how does Element make money on it?
Metrics can probably be compared to something like a telephone network or email, as it is an interpersonal communication system that does not integrate people into a closed ecosystem. By email, you can send a message to another person, regardless of the service provider or client (application) you are using – Yahoo, Gmail, Outlook and Protonmail users can just fine each other. The Matrix protocol strives to achieve the same goal, but with modern Internet-based messaging in its crosshairs – in the Matrix world, WhatsApp users can easily communicate with Slack and Skype users.
Because the element is built on a matrix, it acts as a catalyst for the development of a comprehensive matrix network. Anyone using Element is participating in an open and global network of millions of users spread across thousands of deployments from a variety of organizations. It also means that the element you are using is not locked to the element – it can switch to any other metrics managed client and will not lose any data.
Separately, a method called “bridging” opens up support for third-party applications not built on the Matrix protocol, including rival open source messaging tools such as Telegram, Slack, WhatsApp, and Matermost.
Earlier this year, a new startup named Beeper entered the field courtesy of Eric Migikowski, who sold his previous Pebble smartwatch business to Fitbit in 2016. A dozen chat apps, including iMessage, WhatsApp, Slack, Twitter, Hangouts, and Facebook Messenger
News also surfaced last week that Germany’s national agency responsible for digitizing the country’s health care system was being turned into a geometric matrix. This has led to many years of silent digital transformation, which has resulted in various health care organizations being unable to communicate effectively with each other, while also raising questions about the security and privacy of the systems they choose to transmit confidential medical data. About 150,000 different organizations make up Germany’s health care system, hospitals, local doctors, clinics, insurance companies and more.
Switching to metrics gives different parties a little leeway in terms of the specific applications they use. They may have different cases of use, but following the general standard, all applications will still be able to talk to each other.
“This is a big undertaking, and so far 15 vendors have been involved – including Element,” Element’s CEO and CTO Hudson told VentureBit. “There will be a wide range of applications compatible with the system from different vendors.”
Many other commercial companies have previously built products on top of the matrix, including Ericsson’s Contextual Communication Cloud, a managed service that allows enterprises to integrate advanced communications and collaboration services into their applications. And French giant Thales launched an instant messaging service for businesses called Citadel.Tim, which is not the opposite of Element.
Element also recently renewed its French government agreement, targeting its communications and collaboration toolset to more than 5.5 million French civil servants, while last year it signed a new agreement with Dataport by selling commercial licenses to the German education system.
Overall, it looks like the metrics have gained some momentum, claiming 190% growth in the last 12 months, with 75,000 plus more than 35 million “addressable users” deployed. And as the leading commercial entity pushing the Matrix protocol, Element is in a good position to earn this boom by constantly focusing on the confidentiality and ownership of data.
Data sovereignty is a concept that allows organizations to choose where and how their data is hosted, and therefore what laws apply to its governance – this is a big deal for highly regulated industries and states of the nation. And in a world that is rapidly turning to cloud and private infrastructure, many situations make organizations feel uncomfortable handing over all their data to one big company.
Element’s new investor (and Skype co-founder) Tallinn said in a statement, “When the conversation is focused, it becomes a very attractive target for abuse – whether it’s through publicity, surveillance, censorship or worse.” “Consumers need to be protected from surveillance capitalism, and organizations need a safe, neutral way of communicating. The Matrix is one of the most advanced platforms for providing missing communication levels. “
Salesforce’s multi-billion dollar slack acquisition last week is a good reminder of what’s at stake. Business-related data that has been in-line on Slack is now owned by Salesforce, whether they like it or not. And one of the reasons Slckk decided to sell to Salesforce in the first place was the aggressive bundling of MicroStft teams as part of its expanded OfficeFish software software suite, which could soon face antitrust investigations in Europe. The point is, this whole episode could bring power and control to “Big Tech”, focusing on what helps solve decentralized “open” protocols like the Matrix.
“Salesforce’s acquisition of Slack is great news for the Matrix,” Hodgson said. “It makes the crystal clear that when you’re using Slack or Teams, your data is detrimental – encrypted only in transit and comfort (i.e. not end-to-end) – in large clouds of salesforce or microsoft. Organizations of all shapes and sizes are definitely looking for alternatives that give them complete sovereignty over their data, blindly believing that these tech giants will act as good custodians. “
The same principle applies to numerous other enterprise team communication tools that adhere to open source ethics such as Slack-Optional Mattermost; Brazil-based Rocket.Chat, which offers a variety of hosted and self-hosted tires on top of its main open source chat platform, and which raised 19 19 million just a few months ago; And Kandra Labs, which has built a bunch of commercial products on top of the open source chat platform Zulip.
Element, meanwhile, offers different pricing plans depending on the customer’s need. For example, the company provides Element Matrix Services (EMS), which promises all data sovereignty benefits of premises non-premises deployment, except the hosted service.
But what does that mean, right? “It’s just a dedicated example for you,” explains Houston, “driven by us in the geography of your choice. “Combined with end-to-end encryption, this means you have full ownership and control over your conversations – you have effectively outsourced your server administration only to people who wrote in the first place.”
Element has previously raised about 18 18 million, and with its latest cash injection the company now offers not only to boost its own production, but also the Foundation Metrics protocol that now powers a host of open source and business services. And in the process, it can go a little further towards breaking the communication silos.
“Element funding means that significant investments are being made in the matrix protocol, which greatly benefits the entire matrix ecosystem.” “Matrix will do for sharing information via the web for communication. And just like the web, it is an open standard, decentralized and universal. “
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