Coinsilium Group Limited, a blockchain investment and advisory company, announced on Wednesday that it has formed a strategic advisory partnership with Lition Technology AG, a blockchain infrastructure company, to assist the firm in its token sale worth $25 million.
Lition Technology is currently developing a blockchain infrastructure which will be the first scalable public-private blockchain with data features that are “deletable.” The infrastructure aims to allow businesses to bring blockchain applications from the Proof-of-Concept stage to commercial productions with the ability of mass adoption. According to the statement, this will comply with GDPR and other data privacy regulations.
To be able to develop this infrastructure, Lition will have a Token Generation Event (TGE). Under the terms of the agreement, Coinsilium will support the company through this process. To achieve its ambitious plans, Lition has also teamed up with SAP, a leader of enterprise software. The firm’s Chief Innovation Officer, Dr. Jürgen Müller, is Lition’s technology advisor.
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Lition is currently preparing for the adoption of its infrastructure. Already, the firm has launched a decentralized application, otherwise known as a dApp, for peer-to-peer Energy trading. At the moment, the dApp is receiving revenue and customers from more than ten cities. According to the statement, this is the first dApp to be made available to a market of more than 41 million households.
Lition Token Sale
The Lition token sale has commenced its first phase. Currently, it is only targeting institutional buyers. As stated above, the aim of the funding project is to raise $25 million, which will mostly be reinvested in engineering R&D and testing. The company will run the public mainnet and its tokens will be used for transaction execution, staking and sidechain creation.
Commenting on the partnership, Coinsilium’s Chief Executive Eddy Travia, who has joined the advisory board of Lition, said: “We are very proud to be collaborating with such a talented technical team as Lition’s. The founders of the project have a wealth of business experience to draw upon and their advisory board, which I am delighted to join, will provide vital guidance, drawn from a range of business and technological disciplines.”
“Blockchain and cryptocurrency payments are ideally suited when it comes to developing the next generation blockchain infrastructure. Lition’s solution has gained significant traction in a short time period and the outlook is strengthened by their close relationship with enterprise software global leader SAP.”