LONDON, 28t h NOVEMBER 2017 – CB Limited (“CommerceBlock”), which is led by alumni of JPMorgan and Merrill Lynch, is delighted tomorrow to announce both the public launch of its ICO and the making of a significant equity investment in CommerceBlock by Global Advisors (Holdings) Limited (“GAHL”). CoinShares Fund 1 LP, an ICO fund affiliated with GAHL, has also made a significant commitment to CommerceBlock’s ICO.
“We see ourselves as leading the way for real-world businesses to adopt the efficiencies of the blockchain and cryptocurrencies, and we are thrilled to have on board one of the world’s most respected proponents of this technology,” said Nicholas Gregory, founder and CEO of CommerceBlock.
CommerceBlock launched in 2016, provides services for creating private and secure paper trails for business, leveraging the blockchain via parallel private ‘sidechains.’ The platform makes the cost, speed and security benefits of the blockchain available to the everyday financial and legal transactions of businesses operating in every sector. Crucially, it means private firms keen to maintain their privacy no longer have to build private blockchains to store information.
“I’m delighted to become part of one of the most forward-thinking cryptocurrency firms in the world today. There’s plenty of hype around digital currencies at the moment but, while that is turning heads, hundreds of thousands of firms around the world are quietly getting on with the job of using blockchains to improve the way they do business,” said Daniel Masters, Chairman of GAHL and a principal at CoinShares.
CommerceBlock is leading the way in bridging the gap between everyday business and the blockchain. Its experts designed the ‘BIP175 Pay-to-Contract protocol’, a technology that revolves around the creation of unique codes for invoices and contracts that the protocol uses to certify their validity and whether sums have been paid.
As previously mentioned, CoinShares Fund 1 LP (which was ground-breaking for being the world’s first ethereum-denominated fund when it launch in June of this year), has made a significant commitment to CommerceBlock’s ICO prior to its public launch. Daniel Masters has also confirmed that GAHL and its CoinShares division intend to use CommerceBlock’s innovations in order to scale and build infrastructure on top of their own side chains.
CommerceBlock’s ICO opens tomorrow, 28th November, 2017, and is targeting a raise of $25M USD. The ICO will close on the date this target is achieved or, otherwise, on 19t h December, 2017. More information on the ICO can be found here.
Company name: CommerceBlock
Company site: www.commerceblock.com