0xPredicate Raises $7 Million to Develop Policy Transaction Engine with Backing from 1kx and Industry Support

0xPredicate has announced a successful fundraising round, securing $7 million to develop a policy transaction engine aimed at enhancing decentralized applications in the crypto space. The funding is backed by 1kx, a notable investment firm in the blockchain sector. The initiative allows developers and communities to define and own transaction prerequisites without sacrificing decentralization. The project aims to integrate compliance into web3 applications, facilitating real-world use cases. The announcement has garnered support from various industry players, including AleoHQ, which emphasizes the importance of programmable compliance for private decentralized applications.