COINSILIUM GROUP LIMITED
("Coinsilium" or the "Company")
Coinsilium signs MoU with technology holdings company Devmons Management Limited to launch TerraStream Blockchain Solutions - a software development studio in Gibraltar
Devmons' Co-Founder Matej Galvanek appointed as Technology Advisor to TerraStream
London, UK, 26 November 2019 - Coinsilium Group Limited (NEX:COIN), the blockchain venture builder, advisor and investor is pleased to announce it has signed a Memorandum of Understanding (MoU) with Devmons Management Limited ('Devmons'), a Gibraltar registered technology management company, to jointly launch a blockchain software and smart contract development studio in Gibraltar, utilising the Company's wholly owned Gibraltar registered subsidiary, TerraStream Limited ('TerraStream') ('Parties'). TerraStream is to be rebranded 'TerraStream Blockchain Solutions' and Devmons' co-founder Matej Galvanek has been appointed as Technology Advisor to TerraStream with immediate effect.
Highlights
- MoU signed with Gibraltar based technology management company Devmons Management Limited
- Devmons co-founder Matej Galvanek appointed as Technology Advisor to TerraStream
- TerraStream to rebrand as 'TerraStream Blockchain Solutions' to target the fast- growing Enterprise Software development market.
- TerraStream to provide a range of commercial blockchain focused technical advisory, development and integration solutions, with commercial activities targeted to commence in Q1 2020.
- TerraStream will have the technical capability to build and deploy Smart Contract Systems built on open source base layer protocols such as RSK.
TerraStream Commercial Development Strategy
In light of improving market conditions, the Company has now put in place a new commercial development strategy which will see TerraStream repositioned with an expanded operational scope as a blockchain focused software development studio in Gibraltar under the brand TerraStream Blockchain Solutions.
The global blockchain technology market is growing rapidly and is expected to be worth US$57billion by 2025, indicating a compound annual growth rate (CAGR) of 69.4% from 2019 to 2025 [1], with major growth drivers coming from financial services, gaming, media, healthcare, consumer and industrial products, transportation, retail and the public sector.
The Company believes that the market timing is now right for Coinsilium to expand its capabilities to include the provision of blockchain software development services and with a strong technical partner such as Devmons, it expects TerraStream to be well positioned to compete effectively in this highly specialised fast-growing global market with the aim of commencing commercial activities in Q1 2020.
Source [1] https://www.reportlinker.com/p05807295/Blockchain-Technology-Market-Size-Share-Trends-Analysis-Report-By-Type-By-Component-By-Application-By-Enterprise-Size-By-End-Use-By-Region-And-Segment-Forecasts.html?utm_source=PRN
MoU and areas of Cooperation
Under the terms of the MoU Coinsilium will work with Devmons for an exclusive period of up to 3 months towards the execution of a Joint Venture Agreement (JVA) between the Parties to position TerraStream as a full service blockchain development studio in Gibraltar, with the required technical capability for the design, build, deployment and audit of Enterprise grade smart contract models and systems.
- Converting TerraStream Limited into a Software Development Company specialising in producing customised blockchain technology solutions
The Parties intend to develop TerraStream Limited's capabilities as a software development company to cater to commercial enterprises looking to integrate blockchain technology into their business operations and technology infrastructure.
- Development of Smart Contract Systems for Tokenised Loyalty Schemes
Through TerraStream Limited, the Parties wish to develop smart contract systems for tokenised rewards to decentralise and improve the efficiencies of existing loyalty schemes in the retail and e-commerce industries. The Parties also wish to explore opportunities for other smart contract systems and models with applications across various industry sectors.
- Development of blockchain technology solutions and smart contract systems for third parties
The Parties further propose that the activities of TerraStream Limited shall also include the development and production of scalable and enterprise grade blockchain technology and smart contract-based solutions which can be sold or licensed to third parties across a variety of industries.
Appointment of Technology Advisor
The company is also pleased to announce the appointment of Matej Galvanek as technology advisor to TerraStream with immediate effect. Matej is co-founder of Devmons and Investment Director at Sigil Ltd, a private crypto fund established in Gibraltar. Devmons has built software tools in the blockchain space, notably blockchain data platform Crypkit (www.crypkit.com).
Coinsilium Chief Executive Eddy Travia commented: "Having now firmly established Coinsilium's operations in Gibraltar, the addition of a blockchain development capability within the Group is a natural next step in our long-term strategy for delivering shareholder value through sustainable revenue generation and growth.
"We chose to work with Devmons in Gibraltar due to their strong technical capability, industry experience and shared commercial vision for blockchain technology. In what is essentially a very young though fast maturing industry, we believe that the combination of Devmons' strong technical capabilities and Coinsilium's industry reach and commercial experience will make for a very compelling commercial combination.
"We also see strong synergies between Terrastream and Coinsilium's existing advisory and investing activities; as well-funded first and second layer Protocols are keen to support developers and projects with strong adoption potential. The fact that Coinsilium is already actively operating in this environment, with close relationships with many of the global blockchain technology leaders, is expected to provide TerraStream with a significant competitive edge.
"The strong technical capability which Devmons brings to the party will also pave the way for the build and development of the originally envisioned TerraStream token-based rewards solution project and the commissioning of a Minimum Viable Product (MVP). We look forward to providing the market with further updates on progress in the coming weeks and months."
Q+A Discussion Document
In view of the strategic importance of this announcement the Company has prepared a Q+A discussion document which is intended to provide investors with a deeper understanding of the new commercial development strategy for TerraStream. This can be accessed via the following link https://www.coinsilium.com/terrastreamq-a-com
The Directors of Coinsilium Group Limited take responsibility for this announcement.
For further information, please contact:
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Coinsilium Group Limited
Malcolm Palle, Executive Chairman
Eddy Travia, CEO
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+44 (0) 7785 381 089
www.coinsilium.com
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Peterhouse Capital Limited
Guy Miller / Mark Anwyl
(NEX Exchange Corporate Adviser)
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+44 (0) 207 469 0930
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SI Capital Limited
Nick Emerson
(Broker)
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+44 (0) 1483 413 500
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Yellow Jersey PR
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+44 (0) 20 3004 9512
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Chris Flame / Dominic Barretto
(PR & IR)
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Notes to Editor
About Coinsilium
Coinsilium is a venture builder, investor and advisor, supporting early-stage blockchain technology companies and the digital token economy. As the first ever IPO of a blockchain company in 2015, Coinsilium harnesses its experience and wide-ranging network to invest in some of the world's leading blockchain projects such as RSK/IOVLabs, Indorse, Blox and Factom.
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 www.coinsilium.com
