Coinsilium Group Limited, an accelerator that finances and manages the development of early-stage blockchain companies, has announced the successful completion of its investment of SG$100,000 through a convertible loan agreement, in social networking platform Indorse Pte. Ltd.
Indorse, a blockchain-powered decentralized professional network, is based in Singapore and its co-founder’s have demonstrated their ability to deploy blockchain technology and smart contract solutions for private companies and public institutions in Singapore. This includes digital diplomas issued on the blockchain for one of Singapore’s leading educational institution.
“We are very excited to invest and support skill-based professional network Indorse and its founding team,” Eddy Travia, CEO of Coinsilium, stated. “Indorse will also allow users to profit from sharing their skills and activities on the platform via reward tokens. This is a new and game-changing model in a multi-billion-dollar social media industry and we are confident that Indorse has the requisite skills and talent to propel Indorse to become one of the world's most popular decentralized social platforms.”
The announcement also stated that Coinsilium will receive an entitlement to an undisclosed number of Indorse digital tokens that will be issued by Indorse in the next few months.
With the move, Indorse platform will be integrated with a number of decentralized applications (DApps) including uPort identity system, Truffle, Spectrum, Inter Planetary File System (IPFS), among others.
“We are very proud to join the prestigious roster of Coinsilium's portfolio companies and we look forward to Coinsilium's support and guidance. Indorse has the aim to revolutionize professional social networking using new models of tokenization and decentralization and we believe that Coinsilium's expertise and deep knowledge in this space will be a strategic advantage to reach our goals,” David Moskowitz, Co-Founder and CEO of Indorse, commented.
Also, Coinsilium's CEO Eddy Travia has accepted the invitation to join the Board of Advisors at Indorse.
