BlockEx Raises $24 Million in Funding

BlockEx, a financial exchange platform provider for 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 tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. 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 tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Read this Term-based digital assets, announced on Friday that it has raised over $24 million in funding. The funds were collected in a private sale from accredited token buyers that included individuals, cryptocurrency hedge funds, family offices, and institutional investors for equity purchase.

BlockEx offers a platform that "manages the entire lifecycle of blockchain based digital assets, including origination, issuance, exchange, settlement and redemption," according to its website.

The company is also launching a new token through its own ICO, to begin in February. The token is called the Digital Asset Exchange Token, or DAXT, and holders will have exclusive access to pre-sale ICOs that have been approved by BlockEx.

BlockEx aims to make ICO marketing easier by standardising it through its new service, BlockEx Markets, which is an online open marketplace for buying a variety of asset classes, including ICOs. The blurb on the website says: "We will proactively manage the information being published by the issuers so that it is reliable, and information on multiple ICOs is viewable on one centralised platform."

CEO Adam Leonard explained the process: “We review the Whitepaper Whitepaper A whitepaper is defined as a pitch or persuasive, authoritative, and often in-depth report on a specific topic that presents a problem along with a respective solution. Marketers rely on whitepapers for a variety of reasons, most simply to educate an audience about a particular issue or to promote a particular methodology. In the cryptocurrency world, a whitepaper is a document that should contain all of the information about the technology that was used to build a cryptocurrency network, and how the network will be used, and for what purpose. Some whitepapers may also contain information about the business plan behind the cryptocurrencies and the organization that created it. Whitepapers as a Component of ICOsToday associated almost exclusively with Initial Coin Offerings (ICOs), these documents actually seek to provide a roadmap for a business plan for the company. This can include information for potential investors about specific product, structure, mission, benefits, team, roadmap, future plans, etc. These documents proved essential to the rise of ICOs.Whitepapers today receive a generally negative connotation for this reason, given the amount of speculative and ultimately unsuccessful ICOs promoted via whitepapers.A troubling number of whitepapers severely lacked vital or in many cases accurate information. This proved one of the foundational elements of the ICO craze which consequently reached its apex in 2017.Most whitepapers delved into specific details for investors in ways that normal marketing channels could not readily transmit.In this sense, whitepapers were very effective in providing detailed information on products, security protocols, methodology, target users, and team members. Despite the propensity for scams or high failure rate, there have been several successful ICOs. This includes Ethereum, NEO, Spectrecoin, and others. A whitepaper is defined as a pitch or persuasive, authoritative, and often in-depth report on a specific topic that presents a problem along with a respective solution. Marketers rely on whitepapers for a variety of reasons, most simply to educate an audience about a particular issue or to promote a particular methodology. In the cryptocurrency world, a whitepaper is a document that should contain all of the information about the technology that was used to build a cryptocurrency network, and how the network will be used, and for what purpose. Some whitepapers may also contain information about the business plan behind the cryptocurrencies and the organization that created it. Whitepapers as a Component of ICOsToday associated almost exclusively with Initial Coin Offerings (ICOs), these documents actually seek to provide a roadmap for a business plan for the company. This can include information for potential investors about specific product, structure, mission, benefits, team, roadmap, future plans, etc. These documents proved essential to the rise of ICOs.Whitepapers today receive a generally negative connotation for this reason, given the amount of speculative and ultimately unsuccessful ICOs promoted via whitepapers.A troubling number of whitepapers severely lacked vital or in many cases accurate information. This proved one of the foundational elements of the ICO craze which consequently reached its apex in 2017.Most whitepapers delved into specific details for investors in ways that normal marketing channels could not readily transmit.In this sense, whitepapers were very effective in providing detailed information on products, security protocols, methodology, target users, and team members. Despite the propensity for scams or high failure rate, there have been several successful ICOs. This includes Ethereum, NEO, Spectrecoin, and others. Read this Term and business plans to decide whether the project is financially feasible. We force all ICO issuers to subscribe to a set of governance guidelines we have adopted from our regulatory business plan. We have third-party legal teams, accountancy firms, and fiduciaries that help with four-eyed checks, and we use third-party security companies to audit the smart contracts.”

Back in September, we reported on BlockEx becoming a corporate member of the Wall Street Blockchain Alliance, a non-profit trade association.

In May, BlockEx partnered with law firm Winston & Strawn to create standardised templates to streamline the process of issuing bonds. At the time, CEO Adam Leonard said: “We have received a lot of interest from SMEs who have been excluded from capital markets because the costs of going through a bond issuance are too high. The BlockEx Digital Asset Creation tool...radically changes the existing set-up."