Coinsilium announces Strategic Partnership with Lition Technology AG
Lition develops the next generation Blockchain Infrastructure - Token Sale for $25m
COINSILIUM GROUP LIMITED
("Coinsilium" or the "Company")
Coinsilium announces Strategic Partnership with the Blockchain Infrastructure Company Lition Technology AG for its US$25m Token Sale.
Coinsilium Group Limited (NEX:COIN), the blockchain venture builder, advisor and investor that finances and manages the development of early-stage blockchain technology companies, is pleased to announce that it has signed a strategic advisory partnership agreement with Lition Technology AG ('Lition'). Lition is developing a new blockchain infrastructure designed for business use. It is the first scalable public-private blockchain with 'deletable' data features and which allows businesses to bring blockchain applications from their currently predominant Proof-of-Concept stage into commercial products with mass-market adoption, in compliance with GDPR and wider data privacy regulations.
Under the terms of the agreement Coinsilium will be supporting Lition throughout the preparation and execution of their forthcming Token Generation Event ('TGE'), allowing Lition to create the new blockchain infrastructure.
To achieve this, Lition works closely with SAP whose Global Head of Blockchain, Torsten Zube, announced the Lition-SAP partnership in SAP's keynote speech at the Consensus New York 2018 conference. SAP is the leader of enterprise software with more than 10,000 developers and more than 400,000 corporate clients globally. Dr. Jürgen Müller, SAP Chief Innovation Officer, is Lition's technology advisor.
To ensure adoption and obtain first-hand experience, Lition has developed and rolled out a decentralised application ('dApp') for peer-to-peer Energy trading, with revenue and customers from more than 10 cities at this time. This is the world's first use-case of a blockchain-powered decentralised application to be made available to a mass market of over 41 million households.
Lition will run the public mainnet and the Lition tokens will be used for transaction execution, staking and sidechain creation. The Lition token sale has now commenced its first phase, targeting institutional buyers by invitation only. The total funding target for the project is $25m with the majority of token sale proceeds to be reinvested in engineering R&D and testing, as well as building partnerships for further real-world use-cases.
Coinsilium Chief Executive Eddy Travia, who has joined the advisory board of Lition, commented: "We are very proud to be collaborating with such a talented technical team as Lition's. The founders of the project have a wealth of business experience to draw upon and their advisory board, which I am delighted to join, will provide vital guidance, drawn from a range of business and technological disciplines. Blockchain and cryptocurrency payments are ideally suited when it comes to developing the next generation blockchain infrastructure. Lition's solution has gained significant traction in a short time period and the outlook is strengthened by their close relationship with enterprise software global leader SAP."
The Directors of Coinsilium Group Limited take responsibility for this announcement.
For further information, please contact:
Malcolm Palle, Executive Chairman +44 (0) 7785 381089
Coinsilium Group Limited
Eddy Travia, Chief Executive Officer +44 (0) 20 3889 4312
Coinsilium Group Limited
Guy Miller / Mark Anwyl +44 (0) 207 469 0930
Peterhouse Capital Limited
(NEX Exchange Corporate Adviser)
Nick Emerson +44 (0) 1483 413 500
SI Capital Limited
Notes to Editor
Coinsilium is a blockchain venture builder, advisor and investor that finances and manages the development of early-stage blockchain technology companies. It does this through its consortium of top-tier investors, industry thought leaders and executive managers. Coinsilium's focus is on driving innovation in fintech and blockchain technologies, enabling businesses to take advantage of growth opportunities. Coinsilium also provides advisory services to companies planning token generation events.
Coinsilium shares are traded on NEX Exchange Growth Market, the primary market for unlisted securities operated by NEX Exchange, a Recognised Investment Exchange under the Financial Services and Markets Act 2000.
For further information about Coinsilium please visit http://www.coinsilium.com
About Lition Technology AG
Lition is a blockchain infrastructure developer, with approx. 20 employees mostly out of Berlin. Lition's new blockchain infrastructure addresses key commercial and business issues that hindered blockchains to reach mainstream adoption so far. With its scalable public-private blockchain with 'deletable' data features it allows businesses and large enterprises to bring blockchain applications into mass-market adoption in a legally compliant way. Lition also developed and rolled out a use-case on P2P energy trading which is the world's first commercially live in a mass market with revenues and customers in over 10 cities.
For further information about Lition please visit: https://www.lition.io/