About
Mask Network is a company that offers a range of services aimed at enhancing online privacy and security. Their platform integrates with popular social media sites, allowing users to encrypt and share content privately. Additionally, they provide tools for decentralized finance (DeFi) transactions and blockchain-based identity management. Mask Network's services aim to empower users by giving them greater control over their online interactions and data privacy.
History
Social media has been integrated most of people's life because it facilitates communication with each other virtually. However, many problems have arisen because of social networks: no cross-border payments, no space to permanently store files, no real secure encryption, and no data protection rights. Instead of creating a new decentralized social media platform, Mask Network aims to bridge Web2 (current social media platform) and Web3 (blockchain, decentralized storage, and peer-to-peer network).
In July 2018, Suji Yan founded Maskbook to help users to take back control of their data and financial autonomy through encryption technology. In the earliest version back in July 2019, Maskbook bridges the current Web2 and Web3 by using a decentralized server to provide a basic function like sending and receiving encrypted posts (tweets/ FB posts) with access control. Text is a form of information, people can send a text through the dialogue box. Later, people can send pictures, code, contracts, and apps. In February 2020, Maskbook enables a payment feature that makes it easier for people to send cryptocurrency via social media. Through the Lunar New Year Red Packet campaign, Vitalik Buterin sent his 1st ETH give-away red packets using Maskbook.
In October 2020, Maskbook re-brand as Mask Network to reflect the business identity not only as a decentralized social networking but also as a multi-chain borderless payment network, decentralized file storage and sharing. Mask Network raised a $ 2million funding round in November 2020 co-led by HashKey and Hash Global. In February 2021, Mask Network raised $ 3million with participation from Digital Currency Group and Fundamental Labs.
