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Coinsilium unveils plans for blockchain software and smart contract development studio

TerraStream Blockchain Solutions will provide advisory, development and integration services, with commercial activity expected to begin in the first quarter of 2020

Coinsilium Group Limited - Coinsilium unveils plans for blockchain software and smart contract development studio
The new company is being set up in partnership with tech firm Devmons Management

Coinsilium Group Limited (LON:COIN) has unveiled plans to launch a blockchain software and smart contract development studio in Gibraltar.

The blockchain investment and advisory firm said under a memorandum of understanding (MoU) signed with tech firm Devmons Management.

Under the MOU  the two companies will rebrand Consilium’s Gibraltar subsidiary, TerraStream, as ‘TerraStream Blockchain Solutions’ (TBS), while Devmons’ co-founder, Matej Galvanek, will immediately join the new studio as a technology advisor.

READ: Coinsilium welcomes acquisition of social network platform by investee company, RSK

Coinsilium said the new entity will provide blockchain-focused advisory, development and integration solutions, with commercial activity expected to begin in the first quarter of next year.

TBS will also have the capability to build and deploy Smart Contract Systems built on open source base layer protocols such as RSK, which uses the Bitcoin network.

The firm cited “improving market conditions” as part of its motives for establishing the new entity, adding that TBS will be “well positioned to compete effectively in this highly specialised fast-growing global market”.

In early trading on Tuesday, Coinsilium shares were priced at around 2.6p on the NEX exchange.

--Adds share price--

Quick facts: Coinsilium Group Limited

Price: 2.15 GBX

NEX:COIN
Market: NEX
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