That’s according to Jonathan Sanders, CEO and co-founder of fledgling Danish startup Light, which exits stealth Wednesday with $13 million in a seed round of funding led by European VC giant Atomico.
The Copenhagen-based startup is reimagining general ledger software from the ground up, replete with AI to cleanse transactional data, while also enabling finance teams to ask plain-English questions and receive straightforward answers from their data.
Enterprise resource planning (ERP) software is king, packing support for CRM (customer relationship management), HR (human resources), project management, and perhaps the most crucial component of all, the general ledger.
And it’s this element of the ERP that Light is focused on dragging into the modern digital era, where AI increasingly rules the roost.
“Our mission is to be the first automated ledger for global companies,” Sanders told TechCrunch.
Although Ripple has been around since 2012, it and the XRP Ledger are doubling down on its global payments journey.
At the same time, it’s also aiming to become the go-to enterprise infrastructure provider, the company’s president, Monica Long, said on TechCrunch’s Chain Reaction podcast.
Distinct from the Ripple network and protocol, the XRP Ledger is a decentralized public ledger with an open source code base that anyone can contribute to or use, Long said.
“Foreign exchange is pretty concentrated in terms of the players who actually have enough capital to provide liquidity for those transactions,” Long said.
“And so when you have a lot of concentration, you have a lack of competitiveness for the pricing.”
Hackers compromised the code behind a crypto protocol used by multiple web3 applications and services, the software maker Ledger said on Thursday.
The company says it has sold six million units of its hardware wallet, and Ledger Live, its software equivalent, is used by 1.5 million users.
That would allow the hackers to drain the crypto inside users’ wallets — so long as the users accepted the push to connect their wallets to the malicious Ledger version.
ZachXBT, a well-known independent crypto researcher, wrote on X that one victim had more than $600,000 in crypto drained from their account.
Several blockchain security researchers, as well as people who work in the web3 industry, warned users on social media of the supply chain hack against Ledger.
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Ledger has announced a new browser extension called “Setup My Wallet” that aims to improve online security and connectivity for digital assets. The extension allows users to specify preferred languages,…
