COINSILIUM GROUP LIMITED
("Coinsilium" or the "Company")
RIF & RSK parent company IOVLabs acquires leading Social Network to bring Bitcoin technology to 30 million users
RIF services and the Bitcoin-powered RSK Network will be integrated into the largest Spanish speaking social network in the world
London, UK, 30 September 2019 - Coinsilium Group Limited (NEX:COIN), the blockchain venture builder, advisor and investor that finances and manages the development of early-stage blockchain technology companies, is pleased to report an update announcement made by IOVLabs ('IOVLabs'), the parent company of RSK ('RSK'), on 27 September. The full text of the announcement can be seen below.
- RSK parent company IOVLabs acquires Taringa, world's largest Spanish-speaking social network platform
- 30m registered users, 13m active users and 1,000 active online communities
- Acquisition puts RSK at the forefront of adoption in distributed ledger technologies as the first step towards mass adoption of both RSK and RIF platforms
Coinsilium's interest in RSK is represented by way of 1,951,846 RIF tokens. As announced on 19 November 2018, Coinsilium's shareholding of 65,000 series Seed 1 RSK shares was converted to RIF tokens by way of a 'share for token' swap. The RIF tokens are now vesting and will continue to do so over the remainder of the vesting period. Coinsilium Chairman Malcolm Palle is also a member of the board of directors of IOVLabs.
Coinsilium Chief Executive Eddy Travia commented: "We are delighted by the news of this exciting strategic acquisition by RSK's parent company IOVLabs. Taringa is the largest Spanish language social network in the world and with an estimated 534m Spanish speakers globally*, in terms of adoption, this acquisition represents a unique opportunity to introduce millions of people worldwide to the existing and upcoming RIF-based solutions, including rewards and payments, peer-to-peer exchanges and decentralised application marketplaces.
"As initial investors, Coinsilium has been supporting RSK since its early days and we continue to work actively with the IOVLabs/RSK team both in Gibraltar and, as announced 11 July 2019, through our strategic advisory agreement to accelerate Southeast Asian adoption of RSK Smart Contract and RSK Infrastructure Framework (RIF OS) Blockchain solutions.
"I am confident that this acquisition and the worldwide exposure it will achieve for RSK and RIF OS will accelerate the commercial development of RSK and positively impact the adoption and value of the RIF token."
(*) Source: https://www.ethnologue.com/language/spa
Announcement released by IOVLabs
IOVLabs Brings RSK Technology to 30 Million Users Social Network by Acquiring Taringa
IOVLabs, the creator of the RSK Bitcoin Smart Contract platform and the RIF token, announced today the acquisition of Taringa, the top Spanish-speaking social network in the world with 30 million users and over 1,000 active online communities.
Having access to Taringa's user base will provide the company with invaluable information and data to test and distribute new decentralized infrastructure and apps powered by the RSK platform and the RIF token at a large scale.
Jointly with Taringa's leadership, the company plans to create innovative consumer products and services for its communities, using RSK's decentralized infrastructure.
Diego Gutierrez Zaldivar, CEO of IOVLabs, commented: "Blockchain is powerful technology, but it needs mass adoption to create meaningful value. This acquisition puts us at the forefront of adoption in distributed ledger technologies. Having access to such a large community will also be invaluable for gathering quick feedback from users of all the RIF-powered tools and protocols we are launching in the near future. We see Taringa as the first step towards massive adoption of both RSK and RIF platforms, and a great step forward for our long term vision of empowering individuals through decentralization. We can't wait to share more news about the first products very soon, as we continue building the Internet of Value".
Matías Botbol, CEO of Taringa, commented: "We are very excited about joining forces with the creators of RIF and RSK, as we truly believe that our users and communities should benefit from the contributions they make to our social network. We are already building our first tool to allow Taringa users to get rewarded by being active participants in their communities. Once this is in place, we envision adding more features, including peer-to-peer token exchanges, a marketplace for other dApps to start offering products and services to our users, and more. Our ultimate goal is to create a new open, decentralized Internet that respects individual's freedom of speech and privacy".
IOVLabs has been forging partnerships and developing decentralized infrastructure and products since the launch of the RSK mainnet in January 2018 and the release of the RIF
Token in November 2018. The company, headquartered in Gibraltar, has a global footprint with offices in Buenos Aires, Montevideo, Shanghai, Singapore, and an innovation studio in
For press inquiries: [email protected]
The Directors of Coinsilium Group Limited take responsibility for this announcement.
For further information, please contact:
Coinsilium Group Limited
Malcolm Palle, Executive Chairman
Eddy Travia, CEO
+44 (0) 7785 381 089
Peterhouse Capital Limited
Guy Miller / Mark Anwyl
(NEX Exchange Corporate Adviser)
+44 (0) 207 469 0930
SI Capital Limited
+44 (0) 1483 413 500
Yellow Jersey PR
+44 (0) 20 3004 9512
Chris Flame / Dominic Barretto
(PR & IR)
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 www.coinsilium.com
IOVLabs is a purpose driven organization focused on developing the platforms needed for a new blockchain-based financial system that will enable worldwide financial inclusion and bridge the gap between these nascent technologies and mass adoption.
The organization currently develops the most popular implementations of the RSK Smart Contract Network and RIF OS platforms. RSK Network is the most secure Smart Contract platform in the world, as it relies on Bitcoin's hash power. RIF OS protocols are a suite of open and decentralized infrastructure protocols that enable faster, easier and scalable development of distributed applications (dApps) within a unified environment to enable mass adoption of Bitcoin and RSK.
For further information about IOVLabs please visit: https://iovlabs.org/
Taringa! is the most visited Spanish-speaking entertainment and knowledge site in Latin America and Spain with a broad range of content, where users share information, news, videos and links. With more than 30 million registered members, 13 million active users monthly and 1000 active communities, Taringa! is the largest social media network in Spanish-speaking countries.
For further information about Taringa please visit: https://www.taringa.net/