New decentralised social network ONO has secured $ 16 m from investors in a series A funding round . “ONO’s vision shows promise for a new generation of social networking,” said Xiaolai Li partner at INBlockchain. The Chinese start - up was founded in April of this year , and uses blockchain technology to give users more control over the use of their personal data and content . In two years it says it has signed up 100 users , with a 100 % retention rate . The funds came from investors including INBlockchain , China Venture Capital , Purple Cow Fund and Korea Investment Bank . The company plans to use them to develop the company 's systems and expand into overseas markets .
New decentralised social network ONO has secured $ 16 m from investors in a series A funding round . The Chinese start - up was founded in April of this year , and uses blockchain technology to give users more control over the use of their personal data and content . In two years it says it has signed up 100 users , with a 100 % retention rate . The funds came from investors including INBlockchain , China Venture Capital , Purple Cow Fund and Korea Investment Bank . The company plans to use them to develop the company 's systems and expand into overseas markets .