from what I could understand (translator) the FCT team is funded with 10 million EUR or USD or something other?
No, 10 million angels were led to the river side, the article clearly explains that.
(The translation's indeed brutal, but not without its charm imho.)
I believe it's referring to this:
www.reddit.com/r/factom/comments/567hi1/funding_announcement_sticky_thread/
... with some additional commentary:
www.reddit.com/r/factom/comments/56yb1c/tim_draper_i_believe_that_the_factom_team_has_the/
Though it may also have to do with the pending release of funds to Factom, on completion of M2. Hard to tell.
Basically, Jack Lu was a contributor to the Factom Whitepaper. He is credited in this article as being a founder of Factom.
"吕旭军和汪波之前是美国公司公证通（Factom）的联合创始人"
(Translation) "Lu Xujun and Wang Bo were former co-founders of Factom, a US company"
It would appear that they have set up their own company in China called 网录科技 ( and have received 10 million RMB in angel funding led by 网录科技 (River Venture) with 万向分布式资本 (Universal Distributed Capital).
"网录科技是一家区块链技术服务公司，成立于2016年7月，专注于数据存证、数字资产、供应链金融、防伪溯源等领域，为企业、金融机构和政府部门提供区块链应用技术及行业解决方案。"
"Founded in July, 2016, 网录科技 is a block chain technology service company focused on data storage, digital asset, supply chain finance and anti-counterfeit traceability. It provides block-chain applications for enterprises, financial institutions and government departments. Technology and industry solutions."
I won't speculate on whether or not it is offering a similar service to Factom but seems that is the general space they are playing in. FCT already has a decent China presence, will be interesting to see how this plays out.
Thanks for the translation, Yazz. Because Factom has a focus in China ... If you're up for posting translations of other Chinese coverage I (and I'm assuming others) would love to see it. Zero pressure ofc though ... Just good to bring us a little further out of the dark about what's going on in World Factom.
