Coinsilium Invests in Singapore’s Indorse

Announcements, Blockchain, Innovation, Investing | June 12, 2017 By:

London-based blockchain venture investment fund Coinsilium Group has completed its investment of SG$100,000 (approx. £56,100) in Singapore-based company Indorse.

Coinsilium will receive an entitlement to an undisclosed number of Indorse digital tokens to be issued by Indorse in the next few months. In addition, Coinsilium CEO Eddy Travia will join Indorse’s board of advisors.

Indorse, which has already worked with private and public institutions in Singapore as well as an education institution, is developing a blockchain-powered decentralized professional network via a convertible loan agreement. The company allows users to display their skills on the network, which are then confirmed by the blockchain, allowing endorsements and pay for any activities they do with Indorse’s tokens.

The Indorse platform will be integrated with a number of decentralized applications (DApps) such as: Attores Certificate Issuance Platform, Inter Planetary File System (IPFS), uPort identity system, Truffle, Spectrum and Status.

“We are very excited to invest and support skill-based professional network Indorse and its founding team,” said Coinsilium’s Travia. “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 the multi-billion-dollar social media industry, and we are confident that Indorse has the requisite skills and talent to propel it o become one of the world’s most popular decentralized social platforms.”

“We are very proud to join the prestigious roster of Coinsilium’s portfolio companies and we look forward to Coinsilium’s support and guidance,” said Indorse co-founder and CEO David Moskowitz. “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.”