20|30 to Raise £3M on London Stock Exchange

As reported, campaign of 20|30 was conceived by LSEG as a demonstration of the possibilities for modernizing financial markets with tokenized securitie
15 April 2019   648

The blockchain startup 20 | 30 raised £ 3m through the sale of tokenized securities through the London Stock Exchange Group (LSEG) platform, CoinDesk writes.

Campaign of 20 | 30 was conceived by LSEG as a demonstration of the possibilities for modernizing financial markets with tokenized securities and implying the use of Fiat by potential investors.

20 | 30 deals with the tokenization of securities using distributed registry technology. The firm participated in the fourth stream of the regulatory sandbox of the Financial Conduct Authority of the United Kingdom (FCA).

LSEG and FCA have previously reported that they are working from 20 | 30 and Nivaura blockchain start-up to prepare the first campaign to place tokenized securities in the UK in compliance with the requirements covering storage, clearing and settlement. The ultimate goal of the project is to create "tools to help companies raise capital in a more efficient and streamlined way."

Someone can use our technology to do all the legal documentation, tokenize these assets and execute them. LSEG has then been forward-thinking enough to help get these orders out to the existing market.

Dr. Avtar Sehra

CEO and chief product architect, Nivaura

After the initial issue of securities on the Ethereum blockchain, the possibility of making transfers on the secondary market will be provided, and then other elements of the private financing market will be reproduced.

Algorand to Raise $60M in 4 Hour Tokensale

The project was founded by a MIT professor and a Turing Award winner Silvio Micali and is designed to solve the problems of scalability and consensus in the DLT
20 June 2019   2406

The blockchain-project Algorand, aimed at creating an “borderless economy ”, announced the successful completion of the  ALGO tokensale, during which it raised over $ 60 million, CoinDesk reports.

The campaign was held on the CoinList platform and was conducted in the format of the so-called “Dutch auction”, in which the highest price is first announced, after which it gradually decreases.

Simultaneously with the completion of the tokensale, it was announced the launch of the main network of the Algorand. The platform processes 1000 transactions per second with a delay time of less than 5 seconds, which, as noted, puts it on par with such major payment networks as Visa and Mastercard.

In his work entitled The Monetary Experiment: Algorand A Thesis For Algo Currency Markets, the head of Arrington XRP Capital, Michael Arrington writes that Algorand is a project where macroeconomics meets cryptocurrencies. He also notes that Algorand, as a blockchain-resistant Proc-of-Stake algorithm, is distinguished by a combination of advanced cryptography and a smart economic model.

The Algorand project was founded by a professor at the Massachusetts Institute of Technology and a Turing Award winner Silvio Micali. The main task of Algorand is to solve the problems of scalability and consensus in the blockchain.

As noted, the exact number of buyers who participated in the auction remains unknown, but because of high demand, the campaign lasted less than four hours. In total, 25 million ALGO tokens were distributed with a starting price of $ 10 and a closing price of $ 2.40.

Representatives of the project also stated that since tokens are distributed to customers' wallets and are not available on stock exchanges, there is no need to talk about any value of Algorand market capitalization.

Algos are being dispersed to wallet right now (for successful bids).  Therefore – there are non on exchanges. [Therefore, no market capitalization is available for Algorand, though some have speculated it sits around $6 billion.] Which is still a top 10.

Algorand Team

Earlier, the project announced plans to auction 600 million ALGO tokens per year, and in the first five years it is planned to release 10 billion tokens.

Also note that over the last year, Algorand raised $ 66 million in venture capital from investors such as Union Square Ventures and Pillar Venture Capital.