Coinsilium Group Ltd (COIN:ISD) a company engaged in investing in early blockchain technologies with a particular focus on fintech today provided a statement straight from the CEO himself Eddy Travia. The update basically runs through on the progress of 2017, most of which has already been covered. The company is looking to refocus efforts on its original ethos by leveraging its network within the blockchain industry.
Mr. Travia also noted the company will be presenting at the UK Investor Show this Saturday 1 April 2017 and will be participating in a panel discussion entitled ‘Blockchain: a Game Changing Technology’ at 11:00 am in the ‘Miers’ breakout room. The company will also be holding an investor evening hosted by NEX Exchange on April 20th, 017 where they’re looking forward to telling investors more about Coinsilium’s plans for 2017.
You can read Mr. Travia’s full statement below:
“2016 was a transitional year for Coinsilium with some challenges along the way. There were several management and board-level changes, including the return of Non-executive Director and co-founder Malcolm Palle in January of this year. Costs have been significantly reduced to a more appropriate level for a growth business of Coinsilium’s size. The Company has also taken several key strategic decisions to build a strong foundation in readiness for the many opportunities we see in the emerging Blockchain Technology sector.
In essence, we are now refocused on our core objectives and the company has been re-positioned to reflect the original ethos of why we originally launched Coinsilium: to identify the early winners in the blockchain revolution and leverage some of the vast array of related opportunities.
There has been evidence of our progress since the beginning of 2017 with exciting news from three rising stars in our portfolio, Factom, SatoshiPay and RSK Labs:
- Factom added Medici Ventures (Overstock’s venture arm) to its stellar lineup of investors including Tim Draper, adding to a series A round which was ranked in the top three VC deals in blockchain in 2016 by Coindesk;
- SatoshiPay raised more than Eur1m at a pre-money valuation 362% higher than our initial investment; and
- RSK Labs recently joined the second batch of the ‘Dubai Future Accelerator’ where they are working with the Dubai government on large scale blockchain applications.
These positive developments demonstrate our ability to identify some of the best companies with the most talented teams and we look forward to greater achievements from them in the future
We also recognize that we are living in exceptional times when, at this early stage of development, blockchain, a technology now qualified as foundational by Harvard Business Review (and recently by Blythe Masters as well), offers numerous opportunities with the potential to generate asymmetric returns to our shareholders. This is why, in addition to our investment activities we have decided to take a more proactive stance and we are currently evaluating some exciting commercial opportunities with the objective of expanding the business in an innovative, yet cost-effective manner.
After our recent fundraise announced on March 7th, 2017, which demonstrated trust and confidence from our existing shareholders and directors, Coinsilium is now well-positioned to leverage its early mover advantage and its unequaled network in the blockchain sector.
I would like to take this opportunity to thank all shareholders for their continued support; with a lean team, a cohesive and active board, and soon-to-be-unveiled exciting new projects, we believe the time has finally come for Coinsilium to shine and we remain committed to delivering value and returns for our shareholders.”