Permissionless Raises $2,50,000 Via Community Support In Less Than 48 Hours Permissionless aims at building a public infrastructure for the new web and solving complex problems with deep tech while also introducing open source to the new world

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Company handout

A decentralised autonomous organisation, Permissionless, raised $2,50,000 via community support in less than 48 hours.

Led by GenZ serial entrepreneur Roshan Vadassery, Permissionless aims to leverage blockchain to eliminate trust issues on a technical level, while working towards making the world an open source platform. Not just that, their $PRTN token jumped from 0.01 to 0.4 dollars, making it a 3900 per cent increase, which saw a trading volume of $1 million on the first day of its launch, claimed by the company in a statement.

"Ever since I started coding for Nokia phones at the age of 11, I always knew that sovereign computing will be the future. Today we are wooing the industry with leveraging this beautiful technology that is blockchain. In order to do so, I launched Permissionless with the aim of building a public infrastructure for the new web and solving complex problems with deep tech while also introducing open source to the new world. The feeling of raising a spectacular amount within 48 hours via a community support is a step closer to unlocking one achievement on the list of many more," said Roshan Vadassery, founder, Permissionless.

Enabling the future of fundraising, Roshan became India's first-ever entrepreneur to raise funds via community support in the open-source web3/blockchain space with more than 150 participants, making Permissionless the only Indian company to do so without involving any VCs or investors, the statement added.

Launched in July 2022, Permissionless is a decentralised autonomous organisation built by leaders who have worked in the shadows of the blockchain industry and have come in together to reduce the dependency on centralised entities as the first touch point for adopters of the new web.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Business News

'I Love Doing Product Reviews': Bill Gates Stepped Down from Microsoft in 2020, But Admits He Still Spends 15% of His Time Working at the Company

In a new interview with the Wall Street Journal, Gates also said he is still close with Microsoft's CEO Satya Nadella.

Business News

Uber's CEO Says Drivers Have About 10 Years Left Before They Will Be Replaced

Uber CEO Dara Khosrowshahi says the jobs of human drivers are safe for the next decade, but after that, another type of driver will take over.

Franchise

Franchise Models Explained — How to Choose the Right One for Your Goals

Navigating the franchise world starts with understanding key business models. Here's how project-based and subscription franchises differ in investment, scalability, and recession resistance.

Business News

Elon Musk's DOGE Is Hiring People Eager to 'Work Long Hours' to Eliminate 'Waste, Fraud and Abuse' in the Government. Here's How to Apply.

The Department of Government Efficiency is hiring U.S. citizens to help cut spending and headcounts in the federal government.

Business News

'Everyone Can Profit From It': What Is DeepSeek? China's 'Cheap' to Make AI Chatbot Climbs to the Top of Apple, Google U.S. App Stores

DeepSeek researchers claim it was developed for less than $6 million, a contrast to the $100 million it takes U.S. tech startups to create AI.

Science & Technology

From Data to Destiny — How AI Can Turbocharge Your Business Future

Are you ready to embrace the power of AI with trusted data? Let's transform challenges into opportunities and propel your business into the future.