World’s First Blockchain-Based Startup Marketplace Set to Launch by Funderbeam

Data intelligence provider Funderbeam is set to launch the world’s first blockchain based investment trading platform over the next few months, through a partnership with colored coins developer ChromaWay.

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World’s First Blockchain-Based Startup Marketplace Set to Launch by Funderbeam

Data intelligence provider Funderbeam is set to launch the world’s first blockchain based investment trading platform over the next few months, through a partnership with colored coins developer ChromaWay.

Blockchain-based startup marketplace

Funderbeam has processed US$277.49 billion in investments and currently supports over 42,000 investors worldwide. Using the blockchain, Funderbeam plans to process its settlements and verify its trades instantly without human input.

“ChromaWay breathes technology that’s been limited to cryptocurrencies, and is now making it serve a broader purpose,” explained Funderbeam founder and CEO Kaidi Ruusalepp. “Their technology expertise, flexibility, and knack for innovation play really well with our legal, regulatory, and financial know-how.”

She added:

“Startup investments are usually locked up for years, and I can’t wait to see them liberated in a global secondary market.”

Funderbeam founder and CEO Kaidi Ruusalepp

Through the use of ChromaWay’s colored coins and the implementation of the blockchain technology, Funderbeam aims to eliminate third party service providers and intermediaries. Since all trades will be verified and secured on the blockchain, the platform will no longer need regulatory compliance and digital verification systems.

Ruusalepp continued:

“Using the blockchain adds a new level of trust and certainty. We won’t need a business registry, central depository, or another formal authority to tell us that something is indeed something — and not something else. With the blockchain, every investment, every ownership change has a secure, distributed audit trail.”

Upon the launch of Funderbeam, users will be able to trade digital tokens or colored coins of a syndicate and invest in startups on the Bitcoin blockchain.

 “A startup marketplace was one of the first things I had in mind when I discovered the idea of using the Bitcoin blockchain for asset ownership tracking back in 2012,” said ChromaWay CTO Alex Mizrahi. “No one else was coding it, so I finished the first colored coins prototype and started an open-source project. We understood that technology alone is not enough: connecting virtual tokens to real assets has a lot of subtleties. I’ve been waiting for a good partner and am excited to work with Funderbeam to bring our ideas to life.”

The Blockchain as a Global Storage

Many bitcoin startups and banks began to search for ways to utilize the Bitcoin blockchain to store identities, legal documents and smart contracts.

Verisart for example, has created a blockchain-based artwork verification and authentication platform, on which artists can integrate the copyrights to their artworks into small bitcoin transactions or macro transactions.

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