Coinsilium has hired Malcom Burne to be a project advisor to its Gibraltar-registered subsidiary TerraStream,
according to a company announcement.
Coinsilium is a London-based investment company that focuses on blockchain startups. It was founded in 2014 and has invested in companies such as Indorse, a Linkedin-type website from Singapore, Satoshipay, a Bitcoin micro-payment platform from London, and Fantom, a South Korean company that runs a directed acyclic graph-based smart contract platform.
In May, Coinsilium reported that it made £120,000 in profit in 2017, which was a year-on-year increase of 181 percent.
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Terrastream was set up to take advantage of the cryptocurrency-friendly legal system of Gibraltar. According to its website, it aims to offer “token-based alternative funding solutions with potential applications in several industry sectors, including, but not limited to, the precious metals and natural resources extractive industries.”
It plans to launch its ICO in the last quarter of 2018. It is still working on its whitepaper while waiting for the Gibraltar Financial Services Commission to give permission.
Gibraltar is an overseas British Territory which has gone some way towards developing legislation that includes all aspects of the cryptocurrency economy. For example, it orders that all ICOs be assigned a sponsor who will themselves have to pass muster with the Gibraltar Financial Services Commission. Recently we reported when the territory’s ICO marketplace, Gibraltar Blockchain Exchange, brought its third startup aboard – a blockchain based timeshare company.
According to the announcement, Malcolm Burne has years of experience in both the finance and mining (resource extraction) industries in the UK, Canada, Australia and Hong Kong. He is a former stockbroker and Financial Times journalist, and according to Reuters has been a director at more than 20 companies. He is the founder of Ambrian Capital and is currently chairman of an investment fund called Golden Prospect Precious Metals.
At Terrastream he will be working with a mining sector advisor named Richard Lloyd.