Coinsilium, the London-based blockchain technology focused investment and development company, has kept users informed of happenings within the organisation with their monthly update. Some of the main points are covered below.
The Coinsilium Board has reviewed TRAC Technology Ltd against its strategy of investing in early stage blockchain focused companies and has concluded that TRAC no longer meets Coinsilium’s core criteria. As a result, the Board has decided to take advantage of an opportunity to divest its direct 27.3% shareholding in TRAC. Coinsilium will receive consideration of US$100,000 for its shares; of which 50% will be paid in cash and the remainder will be paid by the issue of 2.6m new shares in Kolar Gold Limited which will be subject to a lock-in period of three months. Kolar Gold Limited is managed by CEO Cameron Parry, a former director of Coinsilium Group Limited.
Factom Inc., a company in which Coinsilium has a 1.8% equity interest, was noted as having raised $4.2m in a Series A round of funding led by Tim Draper of Draper Associates. Additionally, Factom announced the addition of three veteran executives with experience building distributed systems and enterprise mortgage software, to the team.
Investee SatoshiPay has become one of ten members to join the European FinTech Allicance, and has also made inroads into ‘Paid attention’ services, which seeks to disrupt applications such as Google Ads. Another coinsilium investee, RSK Labs, is involved with bringing miners controlling almost 50% of Bitcoin’s total global hash power and over sixty blockchain entrepreneurs to Buenos Aires, Argentina. CEO and co-founder Diego Gutierrez Zaldivar is organising the event in November.
Coinsilium held a seminar – ‘Blockchain Day’ – in Malta, with Eddy Travia and Adam Vaziri providing the teaching. Grant Thornton Spain also presented during the day. The comoany has been to other countries to promote itself as a thought-leader and commentator for blockchain, the industry and the increasing number of use-cases with visits to Vegas, Dubai and Malta. In the coming month Coinsilium intends to go to New Delhi and Brussels, amongst others.