Decentralised Linkedin-Alternative Indorse Raised Over $5m in Token Pre-Sale

Indorse, a Singapore-based startup developing a Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term-powered decentralised network for professionals, has completed its token pre-sale with proceeds reaching 18,396.21 ETH (over $5 million). The token sale is now open to the public and will remain so until 7 September 2017.

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Eddy Travia, CEO of Coinsilium (NEX: COIN), who is backing the venture, commented: “The successful token pre-sale provides a tremendous vote of confidence for Indorse and confirms our belief in the team’s ambitious vision for building a global blockchain-powered decentralised platform for professionals.

We are confident that the significant level of the proceeds from the pre-sale and the ongoing public token sale will provide the financial resources for the team to accelerate its path towards achieving its objectives."

Deepening ties

Coinsilium announced that it has entered into an Option Agreement to subscribe to 7% of the fully diluted share capital of Indorse for a total of SGD350,000. The agreement is valid for a 3 month term and if fully exercised, Coinsilium would have the right to appoint an individual to the board of Indorse.

Separately, on 8 June 2017, Coinsilium made an investment of SGD100,000 (about £56,100) in Indorse through a convertible loan agreement and received an undisclosed number of Indorse digital tokens. If Coinsilium chooses to fully convert these, its equity position in Indorse would be around 10%.

Travia said: “We are also very pleased to have been granted this additional option under terms which will allow us to increase our equity stake in Indorse’s capital at a pre-agreed, conservative valuation.

Following on from the successful exit from our investment in SatoshiPay, achieving a valuation uplift of 363% in under two years, it is important that we demonstrate our ability to identify the next opportunities for our portfolio with the potential to replicate and build on this impressive performance.

We believe that Indorse represents such an opportunity and its model for using blockchain and Smart Contract Smart Contract A smart contract is a piece of software that automatically executes a pre-determined set of actions when a certain set of criteria or met. One of the key tenets of smart contracts is their ability to perform credible transactions without third parties and are self-executing, with their conditions written into the lines of code that form themAdditionally, these transactions are both trackable and irreversible. For example, a smart contract could be used to give royalty payouts to a musical artist A smart contract is a piece of software that automatically executes a pre-determined set of actions when a certain set of criteria or met. One of the key tenets of smart contracts is their ability to perform credible transactions without third parties and are self-executing, with their conditions written into the lines of code that form themAdditionally, these transactions are both trackable and irreversible. For example, a smart contract could be used to give royalty payouts to a musical artist Read this Term technology to reward user activity introduces a disruptive new paradigm into the multi-billion-dollar social network industry."