Markets & Investing
Coinsilium invest in INDORSE.IO indorse.io decentralized professional network
09 Jun 2017
Coinsilium invest in INDORSE.IO indorse.io decentralized professional network
Coinsilium Group Limited (NEX: COIN), the accelerator that finances and manages the development of early-stage blockchain technology companies, is pleased to announce the completion of its investment of SG$100,000 (circa £56,100) in Indorse Pte. Ltd. through a convertible loan agreement. Indorse is a Singapore-based company developing a blockchain-powered decentralised professional network. In addition, Coinsilium will receive an entitlement to an undisclosed number of Indorse digital tokens to be issued by Indorse in the next few months.
The announcement comes on the back of exciting crypto related news emerging from Singapore. The Monetary Authority of Singapore recently announced that phase one of tokenising Singaporean Dollars through an ethereum blockchain has been successfully completed. Indorse is a Singapore-registered company launched by Ethereum and smart contract tech experts based in the country.
Highlights
- Investment of SG$100,000 (circa £56,100) completed in Indorse Pte. Ltd., a Singapore-based company developing Indorse (www.indorse.io)
- Indorse is a unique blockchain-powered, skill-based, decentralised professional network
- Indorse aims to revolutionise professional social networking using new models of tokenization and decentralization
- Coinsilium CEO, Eddy Travia, to join the Indorse Board of Advisors
Eddy Travia, CEO of Coinsilium, stated: “We are very excited to invest and support skill-based professional network Indorse and its founding team. As the multiple benefits of decentralised platforms become apparent to the millions of members of today’s centralised social media networks we believe there will be a natural pattern of migration towards this new generation of decentralised platforms.
Indorse will also allow users to profit from sharing their skills and activities on the platform via reward tokens. This is a new and game-changing model in a multi-billion-dollar social media industry and we are confident that Indorse has the requisite skills and talent to propel Indorse to become one of the world’s most popular decentralised social platforms.”
