COINSILIUM GROUP LIMITED - Investee Company Update PR Newswire

08 February 2016

COINSILIUM GROUP LIMITED

(“Coinsilium” or the “Company")

Investee company update

Factom Inc. and iSoftStone 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 it holds a circa 2% equity interest (subject to the conversion terms set out in the announcement dated 21 January 2016), announced on 5 February 2016 that it entered into a non-binding Memorandum of Understanding (“MOU”) with iSoftStone for the integration of its smart city solution with Factom’s blockchain-as-a-service technology.

Factom will offer business advice and technical knowledge to iSoftStone to help shape its blockchain strategy for its smart city solution. As part of this solution, it is the intention that Factom’s Apollo Product will offer a data storage, auditing and verification layer for several regions in China.

Cameron Parry, Coinsilium's Executive Chairman, commented: “We are delighted that Factom has entered into an MOU with iSoftStone to explore the delivery of blockchain solutions to smart cities in China and hopefully this is just the first step towards a more formal business agreement”.

A copy of the announcement by Factom is reproduced below:

Factom Inc. and iSoftStone Announce a Partnership to Integrate Blockchain Technology and Smart City Solutions

Austin, TX (Feb 5, 2016) – Today, iSoftStone and Factom Inc. announced a Memorandum Of Understanding for the integration of iSoftStone's smart city solution and Factom's blockchain-as-a-service technology. Factom will offer business advice and technical knowledge as iSoftStone, a technology consulting firm, shapes its blockchain strategy for its smart city solution. As part of this solution, Factom’s Apollo Product will offer a data storage, auditing, and verification layer for several regions in China.  

With the rapid urban development in China and other countries, corporations and governments around the world are focused on building new modern infrastructure to accommodate this growth. The push towards building "smart cities" creates an immense opportunity to use blockchains to secure the smart city infrastructure. Blockchain-based systems can provide greater transparency and accountability while cutting administrative and audit costs.

“By applying Factom blockchain technology to our financial services, smart cities big data services, and construction of data exchange, we will drive more innovation in China,” said Mr. Ye Yuping, Executive VP & CTO of iSoftStone. “By leveraging the advantages of both parties, we look forward to seeing a brighter future. We are sure that the integration of Factom and smart cities will bring more development opportunities for both sides.”

iSoftStone is a leader of smart city and industry Internet (Internet +) development, and a leading innovative technology services provider. The company focuses on two major businesses: smart business, and information technology services. In its smart business sector, iSoftStone has launched strategic planning for more than 80 smart cities around the country; in its IT services sector, the company has accumulated extensive experiences in more than ten industries, including telecommunication, banking, insurance, power utilities, transportation, manufacturing and retail, etc.

“We are excited to participate in such an innovative project with iSoftStone,” said Jack Lu, CTO of Factom Inc. “They are industry leaders that can help guide us in the fast moving Chinese market. With iSoftStone’s help, we get to build the framework that will underpin connected modern cities.” 

About iSoftStone

iSoftStone is a technology consulting firm partnering with its clients to create innovative solutions that improve business performance and provide a sustainable, competitive advantage. Backed by proven processes, innovation, and a strong track record with companies that range from emerging startups to Fortune 100 companies, iSoftStone North America navigates clients through today’s challenges while helping them build for the future. The company's employees work across offices in Seattle, Boston, New York, and Toronto, and a delivery center in Boise. Internationally, the iSoftStone network includes 22 offshore delivery centers across China and over 20,000 employees. For more information, visit www.isoftstone.com.

About Factom Inc.

Factom Inc. is at the forefront of pushing the blockchain revolution towards solving real-world business problems. Factom’s unique back-end infrastructure allows corporations, governments, and organizations to securely integrate, manage, and secure data -- any type, any source, and at a massive scale. The result is a new generation of audit and accountability tools for a safer, more affordable way to handle secure and tamper-proof transactions. For more information, www.factom.com.

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   +44 (0) 207 776 6550
                               (Corporate Adviser & Joint
                               Broker)

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

Josh Royston / Hilary Buchanan Alma PR                    +44 (0) 7515 805 218
                               (Public Relations)



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/