Coinsilium Group Limited (COIN)
Coinsilium Group Limited: MOU re Launch of TerraStream Blockchain Solutions
26-Nov-2019 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
COINSILIUM GROUP LIMITED
("Coinsilium" or the "Company")
Coinsilium signs MoU with technology holdings company Devmons Management
Limited to launch TerraStream Blockchain Solutions - a software development
studio in Gibraltar
Devmons' Co-Founder Matej Galvanek appointed as Technology Advisor to
TerraStream
London, UK, 26 November 2019 - Coinsilium Group Limited (NEX:COIN), the
blockchain venture builder, advisor and investor is pleased to announce it
has signed a Memorandum of Understanding (MoU) with Devmons Management
Limited ('Devmons'), a Gibraltar registered technology management company,
to jointly launch a blockchain software and smart contract development
studio in Gibraltar, utilising the Company's wholly owned Gibraltar
registered subsidiary, TerraStream Limited ('TerraStream') ('Parties').
TerraStream is to be rebranded 'TerraStream Blockchain Solutions' and
Devmons' co-founder Matej Galvanek has been appointed as Technology Advisor
to TerraStream with immediate effect.
Highlights
- MoU signed with Gibraltar based technology management company Devmons
Management Limited
- Devmons co-founder Matej Galvanek appointed as Technology Advisor to
TerraStream
- TerraStream to rebrand as 'TerraStream Blockchain Solutions' to target
the fast- growing Enterprise Software development market.
- TerraStream to provide a range of commercial blockchain focused
technical advisory, development and integration solutions, with commercial
activities targeted to commence in Q1 2020.
- TerraStream will have the technical capability to build and deploy Smart
Contract Systems built on open source base layer protocols such as RSK.
TerraStream Commercial Development Strategy
In light of improving market conditions, the Company has now put in place a
new commercial development strategy which will see TerraStream repositioned
with an expanded operational scope as a blockchain focused software
development studio in Gibraltar under the brand TerraStream Blockchain
Solutions.
The global blockchain technology market is growing rapidly and is expected
to be worth US$57billion by 2025, indicating a compound annual growth rate
(CAGR) of 69.4% from 2019 to 2025 [1], with major growth drivers coming from
financial services, gaming, media, healthcare, consumer and industrial
products, transportation, retail and the public sector.
The Company believes that the market timing is now right for Coinsilium to
expand its capabilities to include the provision of blockchain software
development services and with a strong technical partner such as Devmons, it
expects TerraStream to be well positioned to compete effectively in this
highly specialised fast-growing global market with the aim of commencing
commercial activities in Q1 2020.
Source [1]
https://www.reportlinker.com/p05807295/Blockchain-Technology-Market-Size-Sha
re-Trends-Analysis-Report-By-Type-By-Component-By-Application-By-Enterprise-
Size-By-End-Use-By-Region-And-Segment-Forecasts.html?utm_source=PRN [1]
MoU and areas of Cooperation
Under the terms of the MoU Coinsilium will work with Devmons for an
exclusive period of up to 3 months towards the execution of a Joint Venture
Agreement (JVA) between the Parties to position TerraStream as a full
service blockchain development studio in Gibraltar, with the required
technical capability for the design, build, deployment and audit of
Enterprise grade smart contract models and systems.
1) Converting TerraStream Limited into a Software Development Company
specialising in producing customised blockchain technology solutions
The Parties intend to develop TerraStream Limited's capabilities as a
software development company to cater to commercial enterprises looking to
integrate blockchain technology into their business operations and
technology infrastructure.
2) Development of Smart Contract Systems for Tokenised Loyalty Schemes
Through TerraStream Limited, the Parties wish to develop smart contract
systems for tokenised rewards to decentralise and improve the efficiencies
of existing loyalty schemes in the retail and e-commerce industries. The
Parties also wish to explore opportunities for other smart contract systems
and models with applications across various industry sectors.
3) Development of blockchain technology solutions and smart contract
systems for third parties
The Parties further propose that the activities of TerraStream Limited shall
also include the development and production of scalable and enterprise grade
blockchain technology and smart contract-based solutions which can be sold
or licensed to third parties across a variety of industries.
Appointment of Technology Advisor
The company is also pleased to announce the appointment of Matej Galvanek as
technology advisor to TerraStream with immediate effect. Matej is co-founder
of Devmons and Investment Director at Sigil Ltd, a private crypto fund
established in Gibraltar. Devmons has built software tools in the blockchain
space, notably blockchain data platform Crypkit (www.crypkit.com [2]).
Coinsilium Chief Executive Eddy Travia commented: "Having now firmly
established Coinsilium's operations in Gibraltar, the addition of a
blockchain development capability within the Group is a natural next step in
our long-term strategy for delivering shareholder value through sustainable
revenue generation and growth.
"We chose to work with Devmons in Gibraltar due to their strong technical
capability, industry experience and shared commercial vision for blockchain
technology. In what is essentially a very young though fast maturing
industry, we believe that the combination of Devmons' strong technical
capabilities and Coinsilium's industry reach and commercial experience will
make for a very compelling commercial combination.
"We also see strong synergies between Terrastream and Coinsilium's existing
advisory and investing activities; as well-funded first and second layer
Protocols are keen to support developers and projects with strong adoption
potential. The fact that Coinsilium is already actively operating in this
environment, with close relationships with many of the global blockchain
technology leaders, is expected to provide TerraStream with a significant
competitive edge.
"The strong technical capability which Devmons brings to the party will also
pave the way for the build and development of the originally envisioned
TerraStream token-based rewards solution project and the commissioning of a
Minimum Viable Product (MVP). We look forward to providing the market with
further updates on progress in the coming weeks and months."
Q+A Discussion Document
In view of the strategic importance of this announcement the Company has
prepared a Q+A discussion document which is intended to provide investors
with a deeper understanding of the new commercial development strategy for
TerraStream. This can be accessed via the following link
https://www.coinsilium.com/terrastreamq-a-com [3]
The Directors of Coinsilium Group Limited take responsibility for this
announcement.
For further information, please contact:
Coinsilium Group Limited +44 (0) 7785 381 089
Malcolm Palle, Executive Chairman www.coinsilium.com
Eddy Travia, CEO
Peterhouse Capital Limited +44 (0) 207 469 0930
Guy Miller / Mark Anwyl
(NEX Exchange Corporate Adviser)
SI Capital Limited +44 (0) 1483 413 500
Nick Emerson
(Broker)
Yellow Jersey PR +44 (0) 20 3004 9512
Chris Flame / Dominic Barretto
(PR & IR)
Notes to Editor
About Coinsilium
Coinsilium is a venture builder, investor and advisor, supporting
early-stage blockchain technology companies and the digital token economy.
As the first ever IPO of a blockchain company in 2015, Coinsilium harnesses
its experience and wide-ranging network to invest in some of the world's
leading blockchain projects such as RSK/IOVLabs, Indorse, Blox and Factom.
Coinsilium shares are traded on NEX Exchange Growth Market, the primary
market for unlisted securities operated by NEX Exchange, a Recognised
Investment Exchange under the Financial Services and Markets Act 2000.
For further information about Coinsilium please visit [4]www.coinsilium.com
[4]
ISIN: VGG225641015
Category Code: MSCM
TIDM: COIN
Sequence No.: 31430
EQS News ID: 921371
End of Announcement EQS News Service
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(END) Dow Jones Newswires
November 26, 2019 02:00 ET (07:00 GMT)
