KR1 plc - Investment: Swarm
PR Newswire
London, December 16
16 December 2020
KR1 PLC
("KR1" or the "Company")
Investment: Swarm
KR1 plc (KR1:AQSE), a leading digital asset investment company, is pleased to announce that the Company has invested a total of US$200,000 in the Swarm project in return for 797,043.48 Swarm ("BZZ") tokens.
Swarm is a new decentralised storage and communication platform that consists of peer-to-peer networked nodes. The system is economically self-sustaining, due to a built-in incentive system enforced through smart contracts on the Ethereum blockchain. Swarm's redundant architecture makes the system resilient to connectivity issues, node churn or targeted DDOS attacks and enables a zero-downtime service. Swarm is designed to deeply integrate with the Ethereum blockchain for domain name resolution, service payments and content availability insurance. As such, Swarm is a missing piece in the Ethereum jigsaw puzzle.
Gregor Žavcer, Project Lead of Swarm, commented:
"The KR1 team are veterans of the decentralised space with deep understanding of technology, crypto and Swarm. We are very pleased that KR1 is our early backer, supporting Swarm towards version 1.0. We are very excited that together we will continue the journey of empowering digital freedom."
Keld van Schreven, Managing Director and Co-Founder of KR1, commented:
"Swarm is a major leap for running unstoppable financial and social applications, as well as providing data that could be around for thousands of years. With Swarm, we are one step closer to the big dream of 'Write once, run forever!'. The technology will enable more innovation on Ethereum and will also have an impact as an important untamperable permanent record keeper."
The Directors of KR1 plc accept responsibility for this announcement.
--ENDS--
For further information please contact:
| KR1 PLC George McDonaugh Keld van Schreven Simon Nicol | +44 (0)16 2467 6716 simon@KR1.io |
| Peterhouse Capital Limited Mark Anwyl Allie Feuerlein | (AQSE Corporate Adviser) +44 (0)20 7469 0930 |
| Nominis Advisory Ltd Angus Campbell | (PR Adviser) pr@KR1.io |
About KR1 plc
KR1 is a leading digital asset investment company supporting early-stage decentralised and open source blockchain and DeFi projects. Founded in 2016 and publicly traded in London on the Apex segment of the AQSE Growth Market (KR1: AQSE), KR1 has built a notable reputation for generating significant returns by investing in many key projects that are designed to power the decentralised platforms and protocols that are emerging to form new internet infrastructures.
www.KR1.io
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
