Fhenix, an Israel-based encryption startup, has raised $7 million in seed funding to develop fully homomorphic encryption for smart contracts. The company aims to enhance security and privacy in the blockchain industry by enabling secure data processing without revealing sensitive information. This breakthrough technology has the potential to revolutionize various sectors, including public chains, algorithmic stablecoins, NFTs, and GameFi, by providing a new layer of protection for sensitive data and transactions. The recent funding round highlights the growing interest in advanced encryption solutions and their potential impact on the future of the blockchain ecosystem.