Bitcoin Pioneer Charlie Shrem Launches New Blockchain Venture

BitsPlan

screen-shot-2016-11-22-at-11-30-01-pm

“You’re going to have bitcoiners owning stakes in septic tank companies.”

If early bitcoin entrepreneur Charlie Shrem’s newest venture (his first since his release from prison earlier this year) goes to plan, the results could offer new – and unusual – ways for digital currency users to invest.

Called Intellisys Capital, the startup (co-founded by CEO Jason Granger) intends to offer a private equity investment portfolio in which tokens representing shares in a portfolio of “middle market companies” are issued on the ethereum blockchain.

Announced at CoinDesk On Tap in New York today, the venture is Shrem’s first since his first startup BitInstant shut down amid regulatory concerns.

Intellisys Capital, he said, now intends to issue tokens representing blockchain-based shares in manufacturing, real estate or even sanitary waste firms that are profitable and low risk.

Shrem told the audience:

“We’ll be selling ownership and shares in this portfolio of companies on the blockchain, so a token won’t be based on speculation. If you own the token, you’ll be owning a piece of hard assets, a piece of these companies.”

Blockchain will be used to administer and decentralize the fund, he added.

As explained in a press release, the fund

Read more ... source: TheBitcoinNews

NO COMMENTS