Back to all announcements

DJ Coinsilium Group Limited: MOU re Launch of TerraStream Blockchain Solutions

 
 Coinsilium Group Limited (COIN) 
Coinsilium Group Limited: MOU re Launch of TerraStream Blockchain Solutions 
26-Nov-2019 / 07:00 GMT/BST 
Dissemination of a Regulatory Announcement that contains inside information 
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
           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-Sha 
re-Trends-Analysis-Report-By-Type-By-Component-By-Application-By-Enterprise- 
Size-By-End-Use-By-Region-And-Segment-Forecasts.html?utm_source=PRN [1] 
 
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. 
 
  1) 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. 
 
  2) 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. 
 
  3) 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 [2]). 
 
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 [3] 
 
The Directors of Coinsilium Group Limited take responsibility for this 
announcement. 
 
For further information, please contact: 
 
Coinsilium Group Limited          +44 (0) 7785 381 089 
 
Malcolm Palle, Executive Chairman   www.coinsilium.com 
 
Eddy Travia, CEO 
 
Peterhouse Capital Limited        +44 (0) 207 469 0930 
 
Guy Miller / Mark Anwyl 
 
(NEX Exchange Corporate Adviser) 
 
SI Capital Limited                +44 (0) 1483 413 500 
 
Nick Emerson 
 
(Broker) 
 
Yellow Jersey PR                  +44 (0) 20 3004 9512 
Chris Flame / Dominic Barretto 
 
(PR & IR) 
 
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 [4]www.coinsilium.com 
[4] 
 
ISIN:          VGG225641015 
Category Code: MSCM 
TIDM:          COIN 
Sequence No.:  31430 
EQS News ID:   921371 
 
End of Announcement EQS News Service 
 
 
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=09d99f41f5e6bcd968b4401dffa2072b&application_id=921371&site_id=vwd&application_name=news 
2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=20e5fcfe1f1f901769dcd70a34c21eea&application_id=921371&site_id=vwd&application_name=news 
3: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=9cac20423fb1b54ae6346fbdddbd62fa&application_id=921371&site_id=vwd&application_name=news 
4: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=36c575571e439f4b265a236c98ad2ee0&application_id=921371&site_id=vwd&application_name=news 
 

(END) Dow Jones Newswires

November 26, 2019 02:00 ET (07:00 GMT)