Shares in Ookami Limited soared after the software solutions company announced a strategic stake in blockchain company Brontech Pty Ltd.
A short time ago, the shares were up 75% to $0.063.
Ookami will acquire, subject to shareholder approval, 18.23% in Brontech for $933,240.
Brontech Founder and CEO Emma Poposka will join the board of Ookami.
Telstra’s Muru-D Accelerator, venture capital backed accelerator Blue Chilli and the Artesian Fundhave also taken strategic positions in Brontech over the past year.
Brontech gives its users a higher level of control over how their personal data is shared with third parties.
The Sydney-based Brontech, founded in July 2016, developed a data marketplace and digital identity platform to collect data directly from its users.
The data marketplace, built on blockchain technology, disrupts the traditional data brokerage models such as those offered by Equifax, Experian and Acxiom by empowering people to capture the
monetary value of their personal information.
Ookami says integration of Brontech’s technology in the company’s platform Akela, which facilitates public and private capital raisings, will provide an additional and superior layer of verification using blockchain technology.
The technology will also allow the verification of individual’s bank accounts, social media accounts and other professional and personal information data sets.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.