COINSILIUM GROUP LIMITED - Investee Company Update PR Newswire

03 August 2016

COINSILIUM GROUP LIMITED

(“Coinsilium” or the “Group")

RSK LABS ANNOUNCES HYBRID SECURITY MODEL AND LAUNCH OF FEDERATION

Coinsilium Group Limited (ISDX:COIN), the ISDX quoted blockchain technology investment and development company, is pleased to announce that its investee RSK Labs Ltd (‘RSK Labs’) a company in which Coinsilium has invested and facilitated co-investment for a total amount of US$100,000, has developed an innovative hybrid security model which incorporates a private Federation integrated by leading companies from the blockchain industry.

RSK operates Rootstock, a smart-contract platform built as a sidechain of the Bitcoin blockchain that adds value and functionality to the core Bitcoin network by enabling smart contracts. 

Following the announcement, the CEO of RSK Labs, Diego Gutierrez Zaldivar, stated, ‘"This hybrid security model will be key to promote institutional use cases. We have more than twenty international banks, insurance companies, government and development agencies that are planning to launch their services over RSK."

Coinsilium CEO Eddy Travia commented: “It is a measure of the dynamism of the blockchain industry that in the space of one week Coinsilium has been able to release announcements from two investee companies regarding their progress in the smart contracts arena. The endorsement from a very impressive group of blockchain companies confirms that RSK Labs is breaking new ground in this space by combining smart contract capabilities with the strongest blockchain. We are looking forward to the expected releases of RSK Labs new Testnet version next month and its production network in the first quarter of 2017.’

The Directors of Coinsilium take responsibility for this announcement.

Notes to Editor

From RSK Labs

The RSK network is the first turing-complete platform to run Smart Contracts secured by the Bitcoin Network.

In addition to the security provided by the Bitcoin network, the RSK team has developed an innovative hybrid security model. This model incorporates a private Federation integrated by leading Bitcoin industry companies.

The initiative has received strong support from the most relevant players across the world. The list of companies includes Bitcointoyou, Bitex, Bitfinex, bitFlyer, Bitgo, Bitoasis, Bitpay, Bitso, Bits of Gold, Bitstamp, Blockchain, Blockchain Intelligence Group, Blocktrail, BTCC, BitKan, JAXX, SurBTC, CoinBR, Huobi, OKCoin, Paycase, Tether, Unocoin, Xapo, and keeps growing every week.

Wences Casares, CEO of Xapo, said "We are very excited about what RSK is doing by bringing Ethereum-like capabilities to the Bitcoin network. This will take the Bitcoin ecosystem to the next level and unveil the endless possibilities of the Blockchain technology"

The RSK Federation will provide additional services that are indispensable to use Smart Contracts in practical scenarios. Those services will include the generation of external security checkpoints and active “oracling” services to gather information from external sources.

"This hybrid security model will be key to promote institutional use cases. We have more than 20 international banks, insurance companies, governments and development agencies that are planning to launch their services over RSK" stated Diego Gutierrez Zaldivar, RSK Labs CEO.

Federation members will also provide other services to RSK users such as instant peg liquidity and multisig services.

The recent episode with The Dao has exposed how important it is to adopt the most rigorous security measures within the smart contract industry in order to promote real use cases. These measures, along with the power of the Bitcoin network, will enable RSK to transform our society through the development of direct democracies, digital identity, financial inclusion and the Internet of things.

Additionally, Sergio Lerner, RSK Chief Scientist, is working with several universities and security experts across the industry to develop smart contract security standards and best practices.

RSK launched its initial Testnet (Lotus) on May 2016, which is currently being tested by a number of selected partners. During Q3, RSK will continue to add new use cases to its platform and additional hashing power to its merge-mining network. The company expects to release its new version of the Testnet (Turmeric) by the end of September 2016 and launch its production network (Ginger) during Q1 2017.

To learn more about RSK or download the white paper check our website www.rsk.co or contact us to partners@rsk.co

Follow us on Twitter @RSKSmart and Facebook facebook.com/RSKSmart

Further information about RSK Labs at http://www.rootstock.io

About Coinsilium Group

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 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/

Or please contact the following:


Eddy Travia / Laurent Kssis Coinsilium Group Limited +44 (0) 207 099 0740

Peter Shea / Asha Chotai    Daniel Stewart & Company +44 (0) 207 776 6550
                            (Corporate Adviser)

Nick Emerson / Andy Thacker SI Capital Limited       +44 (0) 1483 413 500
                            (Joint Broker)

Jan Skoyles                 Coinsilium Group Limited janskoyles@coinsilium.com
                            (Marketing)