21 March 2016
COINSILIUM GROUP LIMITED
(“Coinsilium” or the “Company")
Investee Company Update
RSK Labs announces the successful completion of its initial seed funding round
Coinsilium Group Limited, the blockchain technology investment and development company, is pleased to announce that RSK Labs Ltd (‘RSK Labs’), a company in which Coinsilium has invested and facilitated co-investment for a total amount of USD100,000, has successfully completed its initial seed funding round.
Copy of the announcement by RSK Labs
RSK Labs Raises $1 Million to Bring Smart Contracts to the Bitcoin Blockchain
The company behind the platform codenamed Rootstock (RSK) has successfully completed its initial seed funding round.
BUENOS AIRES - March 21, 2016. We are pleased to announce that in a round led by Bitmain Technology, the world’s largest bitcoin hardware mining producer, Coinsilium, a leading blockchain investment firm based in London and Digital Currency Group, the prolific investor from New York, RSK Labs raised $1 million to further develop the first smart contracts platform secured by Bitcoin and fully compatible with Ethereum. This successful round allows RSK Labs to expand its current presence in Latin America to Asia, Europe and US, while securing the funding needed to ensure the complete execution of its roadmap.
RSK is the first open-source smart contract platform with a 2-way peg to Bitcoin that also rewards the Bitcoin miners, allowing them to actively participate in the Smart Contract revolution. RSK adds value and functionality to Bitcoin while creating the most robust and secure smart contract platform in the ecosystem. RSK connects the two most successful blockchain platforms built to date – Bitcoin and Ethereum – to enable new smart contracting capabilities.
RSK Labs founders believe that decentralized blockchains with smart contract capabilities will be the driving force behind global financial inclusion, new democratic political systems and the internet of things. On this issue Barry Silbert, CEO of the DCG Group said “Our team at DCG feels that Rootstock developing is important for both the technical and business communities building on blockchain technology today, and will enable many new use cases that have not been possible to date”.
RSK Labs is led by Sergio Lerner, its Chief Scientist Officer, and Diego Gutierrez Zaldívar, its Chief Executive Officer. Sergio is a world-class security and cryptocurrency researcher. He created the first Turing-complete cryptocurrency blockchain in early 2013, QixCoin, and collaborated to strengthen Bitcoin security as a Core team advisor. Diego has been leading Bitcoin adoption in Latin America for more than three years creating some of the strongest grassroots Bitcoin communities in the world. Their combined understanding of the technical, economical and social impact effects of Blockchain technologies have shaped the unique and transformative company culture behind RSK Labs.
Eddy Travia, CEO of Coinsilium, commented ”I am very proud that Coinsilium supports the talented Rootstock team to develop a platform enabling smart contracts secured by the Bitcoin blockchain which I see as an essential element in the transition to a world of blockchain-based solutions for enterprises and public organizations.”
The RSK private testnet will be opened by the end of April to a small number of miners, partner companies and users. During the following months, wallets, block explorers and further enhancements to the network will be implemented by the company and its partners and a public fully functional Beta testnet is expected to be launched in September 2016.
Meanwhile, the RSK team continues to strengthen its relationships with Bitcoin miners, who are a fundamental pillar of the project. RSK provides them with the opportunity to use all their installed capacity to run decentralized smart contracts creating an additional revenue stream in their current business model.
Wu Jihan, CEO of Bitmain Technology, commented “Rootstock is the most exciting opportunity for me among the startups in the Bitcoin ecosystem. The tidal wave of startups developing smart contract solutions based on RSK will bring countless miracles”.
Further information about Rootstock can be found at www.rootstock.io
The Directors of Coinsilium Group Limited take responsibility for this announcement.
For further information please visit www.coinsilium.com or contact the following:
Eddy Travia Coinsilium Group Limited +44 (0) 207 099 0740
David Coffman / Asha Chotai Daniel Stewart & Company +44 (0) 207 776 6550
(Corporate Adviser & Joint
Nick Emerson / Andy Thacker SI Capital Limited +44 (0) 1483 413 500
Josh Royston / Hilary Buchanan Alma PR +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 shares are traded on ISDX, ICAP Securities and Derivatives Exchange Regulated Market (ticker: COIN). Coinsilium has a portfolio of interests in blockchain companies and offers a suite of services including CPD accredited training & education, investment solutions, in-house development and other professional services to blockchain/fintech companies and major corporations eager to learn how blockchain technology can transform their business processes.
For further information please visit http://www.coinsilium.com/