24 February 2016
COINSILIUM GROUP LIMITED
("Coinsilium" or the "Company")
Investee company update
Factom Inc. and Ancun Zhengxin sign an MOU
Coinsilium Group Limited, the blockchain technology investment and development company, is pleased to announce that Factom Inc. ("Factom") a company in which Coinsilium holds a circa 2% equity interest (subject to conversion as per the announcement on 21 January 2016), today announced that it had entered into an agreement with Ancun Zhengxin (a subsidiary of Ancun Group) to offer advice and technical guidance regarding its blockchain strategy for its notarization services for more than 100 locations in 28 provinces across China.
A copy of the announcement released by the International Business Times on the behalf of Factom is reproduced below:
Factom inks another deal in China, this time for blockchain notarisation services
By Ian Allison
February 24, 2016 05:33 GMT- Blockchain-based data management solution Factom is to integrate its technology with Ancun Zhengxin's electronic data notarisation services in China.
Factom will offer advice and technical guidance as Ancun Zhengxin shapes its blockchain strategy for its notarisation services for more than 100 locations in 28 provinces across China, the companies said in a statement.
Ancun Zhengxin is a subsidiary of Ancun Group, which offers electronic data notarisation services and has partnerships with more than 100 notarial offices in China, as well as a range of voice and internet services including email, documents, contracts, copyright, electronic government, medical data and instant messaging. They also have partnerships with more than 100 notarial offices in China.
The internet has become an integral part of China's economic infrastructure where an increasing amount of digital data is embedded in business transactions, social development, technology progress, and international communication. Secure storage of said data is an important concern.
The joint statement said Factom is providing Ancun Zhengxin with an application interface to blockchain for its back office operations and also build an application interface to integrate with Ancun Zhengxin's existing software systems. These blockchain solutions will secure data history and timestamp Ancun Zhengxin's notarisation service.
Not so long ago Factom signed an MoU with technology consulting firm iSoftStone to shape a smart city strategy to roll out data storage, auditing, and verification services for several regions in China.
The Factom blockchain system issues Factoids, the token value transferred among users who purchase entry credits and record entries. Factom servers create entry blocks and directory blocks; a hash of the directory blocks is secured onto the blockchain.
Bing He, who is responsible for the technology of Ancun Zhengxin, said: "We are focused on providing our customers with a one-stop shop Internet technology solution, to meet their electronic data storage and notarization needs. Through collaborating with Factom, we anticipate speeding up the process of providing blockchain technology-based solutions to our customers, while helping the industry move to the next level in technology, information integrity and data security."
Jack Lu CTO of Factom added: "We are honoured to have the opportunity to work with Ancun Zhengxin, They are a wonderful company that can guide us as we move ahead with our China strategy. Jointly we will build added security within online commerce and communication. This is an exciting opportunity, and we are looking forward to more collaborations in the future."
The Directors of Coinsilium Group Limited take responsibility for this announcement.
For further information please visit www.coinsilium.com or contact the following:
| Cameron Parry | Coinsilium Group Limited | +44 (0) 207 099 0740 |
| David Coffman / Asha Chotai | Daniel Stewart & Company (Corporate Adviser & Joint Broker) | +44 (0) 207 776 6550 |
| Nick Emerson / Jake Nixon | SI Capital Limited (Joint Broker) | +44 (0) 1483 413 500 |
| Josh Royston / Hilary Buchanan | Alma PR (Public Relations) | +44 (0) 7515 805 218 |
Notes to Editor
Coinsilium is a London-based blockchain technology focused investment and development company, supporting early-stage blockchain companies through investment, acceleration, development and education.
Coinsilium is the world's first blockchain technology focused company to be admitted to trading on an Exchange Regulated Market and has a portfolio of interests in blockchain companies and projects. In addition to pursuing its investment strategy, through the experience of the Directors and management team, Coinsilium is able to offer a suite of services including corporate/business advisory, CPD accredited training & education, investment solutions, in-house development and other professional services to blockchain/fintech companies and major corporates wanting to learn more about blockchain technology and its implications to the way the world transfers value over the internet.
For further information please visit http://www.coinsilium.com/
