Scorum and OpenLedger partner on escrow for token sale

OpenLedger, the conglomerate that offers services to startups in the blockchain and cryptocurrency industry including a decentralized exchange based on Bitshares and the Graphene framework announced a partnership with Scorum for its token sale. With its token sale now live, Scorum is building its blockchain based sports media platform on Graphene, thus, a natural fit, the two companies will team up in the form of OpenLedger’s escrow services.

Starting back on January 14th, day one of the public Scorum crowdsale, funds raised started to be placed in escrow with OpenLedger. All money will be deposited in OpenLedger’s escrow fund until the Scorum blockchain is published.

The Scorum team said:

“We’ve taken this measure to ensure that SCR token purchasers can trust the Scorum team to fulfill its responsibilities in developing and publishing the Scorum blockchain and wallet. Funds raised from the presale and whitelist member sale (January 8th-13th) will be available to us at Scorum to finish development of the Scorum blockchain and also continue marketing plans throughout the public crowdsale.”

During the Scorum crowdsale, each purchase is made to a unique address and tracked internally so that Scorum can deposit the appropriate amount of SCR tokens to each buyer. Token purchasers will be able to monitor the addresses that hold the funds raised from January 14th to February 11th during the Scorum Crowdsale.

Scorum’s OpenLedger escrow addresses are:

ETH: 0x0090421e334A3cEb15C419941B5D6f4C93798ae8
BTC: 3AFiqPTbBxj2PZjzjbykSrsx5JECeAj5sM

To receive the funds raised in the crowdsale held in escrow by OpenLedger, Scorum will meet the following requirements according to the escrow agreement:

– Complete development of the Scorum blockchain and publish it to the main net.
– Create the Genesis Block of the Scorum blockchain at which point all SCR tokens will be produced.
– Release the Scorum user wallet where buyers can generate their private keys and access the SCR tokens they purchased during the crowdsale.

Furthermore, Scorum has welcomed OpenLedger Founder and CEO Ronny Boesing to the Scorum board of advisors.

The Scorum team added:

“We look forward to a fruitful and successful partnership with OpenLedger as we advance the adoption and adaptation of blockchain technology into the wide world of sports. SCR purchasers can buy with the confidence that Scorum’s funds will be held in escrow until the Scorum blockchain is operational and launched.”