Coinsilium eyes maturation of blockchain industry
As a company, Coinsilium is exceptionally well positioned with a robust financial model and an ability to leverage shareholder returns at an exciting time in the blockchain industry
Coinsilium CEO Eddy Travia
What Coinsilium does
The company also provides advisory services for firms planning token generation events.
- In January, the group unveiled an investment agreement with IOV Labs, the developer of a smart contract platform secured by the Bitcoin network
- In its half-year results, the company hailed a recovery and “rapid maturation” of the cryptocurrency and blockchain industry as it looked to expand its advisory services arm
- In November, it signed a memorandum of understanding (MoU) with tech firm Devmons Management with plans to launch a blockchain software and smart contract development studio in Gibraltar
- Indorse, a company in which Consilium holds a 10% stake, has received a US$6.5mln investment from the Times Group, India’s largest media house
- In July, Coinsilium landed a new advisory client Jur AG, a new blockchain-based decentralised legal ecosystem, to assist with the company’s fundraising and global development
Interview – chief executive Eddy Travia
How it’s doing
For the six months ended 30 June 2019, Coinsilium reported a profit from continuing operations of £237,787, down from £554,605 in the prior year, while revenues fell to £108,967 from £1.3mln as a result of fees generated from token advisory services.
“Despite less than favourable market conditions for the first half of this period, it was pleasing to see that by the close, a sector-wide recovery was well underway, with the industry also regaining much of its previous momentum”, Palle said.
“Across the company’s investing, venture building and advisory services divisions, we look forward to the future with confidence”, he added.
In an update in April, the company said its portfolio companies and partners are “well prepared to face the challenges and respond to the needs of a post-coronavirus world”.
“The disruption caused by the measures taken to fight the coronavirus also show a move towards increased reliance on electronic forms of communication and payments by businesses and individuals. We see this global move as the generator of new opportunities for blockchain companies around the world”, the company said in a statement.
Published at Mon, 06 Apr 2020 14:00:00 +0000 Coinsilium eyes maturation of blockchain industry