Blockchain company investor Coinsilium Group Limited (LON:COIN) has agreed a tie-up with Singapore-based hedge fund group HyperChain Capital to finance new opportunities in the technology behind bitcoins.
The memorandum of understanding will see the two companies consider co-investment opportunities in blockchain companies
Since 2016, HyperChain has invested in more than 20 blockchain companies and is already collaborating with Coinsillium through their joint investment in Coindesk.
HyperChain, led by Stelian Balta, invests in blockchain companies and new blockchain protocols via the acquisition of newly issued crypto and application-specific tokens (‘Tokens’).
Eddy Travia, Coinsilium’s chief executive, said: “We are very pleased to be firming up our relationship with HyperChain following our mutual investment in CoinDash.
“In this fast-growing market, there are only a few large hedge funds with a focus on Token offerings and fewer still that can claim the experience and aptitude of HyperChain.”
Balta added: “HyperChain and Coinsilium are early-movers in the blockchain Token investment space and we look forward to identifying co-investment opportunities.”
Coinsillium is listed on the NEX market.
What is a blockchain?
A blockchain is a digital ledger in which all transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly.
Think of it as a spreadsheet that is duplicated thousands of times across a network of computers. Then imagine that this network is designed to regularly update the spreadsheet so all users can see a ‘live’ database.
Importantly, users can add to these databases but can't erase past transactions or data. That, and the fact data is stored on lots of different computers, means the records of transactions are truly public and verifiable.
Without a centralised version of all the information, there is nothing for a hacker to corrupt either.