KR1 plc - Investments: Rlay and Nash PR Newswire

KR1 Plc

(“KR1” or the “Company”)

Investments: Rlay and Nash

KR1 is pleased to announce that the Company has invested a total of USD200,000 into the Rlay project (“Rlay”). Rlay is a data collaboration framework used to build novel data crowdsourcing solutions, data standards for interoperability and meta-data, token curated registries (“TCRs”) and other data-driven decentralised applications in the curation market space. The funding was provided to Rlay in tranches over the last year and the Company will receive a yet-to-be-determined amount of discounted tokens which will power the Rlay platform at a significant discount to the lowest price paid by any investor in an ICO event.

Rlay seeks to solve blockchain’s external data problem, where information being put into a blockchain from the outside world may not be accurate. Rlay aims to use a combination of token incentives and computer software to create a verifiably correct data set that can then be used with far more assurance.

KR1 has also invested USD50,000 into the Nash Exchange(“Nash”) for 50,000 Nash tokens. Nash is a decentralised exchange that has successfully launched the first regulatory-approved securitised revenue-share token out of Liechtenstein. Nash, previously known as Neon Exchange, is founded by a team of significant figures in the open-source NEO community but will interoperate between the Ethereum and NEO blockchains from launch and add more in the future.

Nash combines the performance of a centralised exchange with the trust and security properties of decentralised exchanges. The system consists of an off-chain matching engine and an on-chain settlement layer, allowing the exchange to still complete high volume, complex transactions at high speed. Also, unlike a centralised exchange, Nash will not take control of any of its users’ assets by leaving control of private keys in the hands of the user. Nash also intends to allow licensed businesses across the globe to provide on and off ramps for fiat currency ensuring the platform meets the needs of a wide range of traders.

The Nash ICO event was hugely successful with more than 17,000 people participating. The team have since consistently delivered to their roadmap, and the platform launch is scheduled for this quarter.

George McDonaugh, Chief Executive Officer, commented:

“The blockchain space continues to innovate, solve problems and provide the products that people want to use, which is crucial for bringing wider adoption to the technology. Rlay represents a possible paradigm shift in how we verify and understand information and, within the blockchain space alone, the ability for smart contracts to verify information could help solve a very significant missing piece of the puzzle. Similarly, the trade-off between decentralised exchanges being slow and centralised exchanges being untrustworthy has proved so far to be a major barrier to adoption. The Nash exchange is breaking new ground in solving these issues, and we’re proud to have supported them early in their journey.”

The Directors of the issuer accept responsibility for the contents of this announcement.

-ENDS-

Contact Details:

KR1 Plc
Stephen Corran
+44 (0)16 2467 6716
scorran@bridgewaters.co.im

NEX Exchange Corporate Adviser:
Peterhouse Capital Limited
Fungai Ndoro and Mark Anwyl
+44 (0)20 7469 0930

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014