Coinsilium, a blockchain venture builder, advisor, and investor, today announced it has signed a Memorandum of Understanding (MoU) with Devmons Management Limited (Devmons), a Gibraltar registered technology management company, to jointly launch a blockchain software and smart contract development studio, utilizing its wholly-owned Gibraltar registered subsidiary, TerraStream Limited.
TerraStream is to be rebranded ‘TerraStream Blockchain Solutions’ and Devmons’ co-founder Matej Galvanek has been appointed as Technology Advisor to TerraStream with immediate effect. TerraStream will have the technical capability to build and deploy smart contract systems built on open source base-layer protocols such as RSK.
TerraStream Commercial Development Strategy
Coinsilium has put in place a new commercial development strategy which will see TerraStream repositioned with an expanded operational scope as a blockchain-focused software development studio in Gibraltar under the brand TerraStream Blockchain Solutions.
The Coinsilium team believes that the market timing is now right for expanding its capabilities to include the provision of blockchain software development services and with a strong technical partner such as Devmons.
“Having now firmly established Coinsilium’s operations in Gibraltar, the addition of a blockchain development capability within the Group is a natural next step in our long-term strategy for delivering shareholder value through sustainable revenue generation and growth. The strong technical capability which Devmons brings to the party will also pave the way for the build and development of the originally envisioned TerraStream token-based rewards solution project and the commissioning of a Minimum Viable Product (MVP). We look forward to providing the market with further updates on progress in the coming weeks and months.”
– Coinsilium Chief Executive Officer, Eddy Travia
It is expected that TerraStream will commence commercial activities in Q1 2020.