Data intelligence provider Funderbeam is set to launch the world’s first blockchain based investment trading platform over the next few months, through a partnership with colored coins developer ChromaWay.
Blockchain-based startup marketplace
Funderbeam has processed US$277.49 billion in investments and currently supports over 42,000 investors worldwide. Using the blockchain, Funderbeam plans to process its settlements and verify its trades instantly without human input.
“ChromaWay breathes technology that’s been limited to cryptocurrencies, and is now making it serve a broader purpose,” explained Funderbeam founder and CEO Kaidi Ruusalepp. “Their technology expertise, flexibility, and knack for innovation play really well with our legal, regulatory, and financial know-how.”
“Startup investments are usually locked up for years, and I can’t wait to see them liberated in a global secondary market.”
Through the use of ChromaWay’s colored coins and the implementation of the blockchain technology, Funderbeam aims to eliminate third party service providers and intermediaries. Since all trades will be verified and secured on the blockchain, the platform will no longer need regulatory compliance and digital verification systems.
“Using the blockchain adds a new level of