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Portland-­based startup Chroma announced the launch of Chroma.fund, the nation’s first blockchain-­enabled IPO platform, as well as the world’s first “Blockchain IPO.” Chroma.fund uses a Bitcoin­-based cryptocurrency similar to technology being used by NASDAQ to issue digital certificates for stocks on bonds issued on its platform — but instead of augmenting Wall St. systems, Chroma.fund is using its blockchain technology to build a new stock exchange for the millions of small businesses that aren’t large enough to be listed on the NYSE or NASDAQ.

“Large corporations have for years benefitted from their ability to raise money directly from the public. But smaller businesses are forced to rack up credit card bills and bank loans in order to get their dream off the ground. As of today, your local coffee roaster may use Chroma.fund to raise investment from their customers and community,” said Marcus Estes, CEO and co­founder of Chroma.fund. “This movement will reshape the entire American economy.”

The first five companies conducting “mini­-IPOs” on Chroma.fund are: FUSE Comics, ​a new digital comics imprint by the Pander Brothers, a cult­famous duo who have created work for Marvel, DC and Dark Horse Comics. Baams Away VR,​ a colorful, easy to play animated game that is one of the first wave of games designed for next year’s Virtual­ Reality headsets.

EggDrop,​ a monthly subscription box for kids who love blind bags, blind boxes, surprise eggs and surprise toys of any kind! Publication Studio,​ a print-­on-­demand small press publisher that highlights titles that have been previously censored by the market. The Tannery, ​an Eastside Portland neighborhood bar offering craft cocktails, a well curated selection of artisanal spirits, beer and wine, completed by a tasty bar menu. While some of these companies are selling shares in exchange for an equity stake in the business, several have opted to use a ChromaCoin™ bond — a new financial instrument instrument invented by Chroma.fund.

These bonds allow investors to own a future percentage of revenue generated by the business. The ChromaCoin bond is designed for the millions of small businesses that don’t rely on startup economics – like fast growth with intent to sell – to serve their customers. Chroma.fund users invest with US dollars, but instead of receiving a paper stock certificate, users are instead issued a ChromaCoin — a tiny fraction of a single Bitcoin, worth less than a penny.

This ChromaCoin serves as a counterfeit­-proof record of ownership of the stocks and bonds purchased on Chroma.fund. Chroma.fund is working with the state of Oregon who have granted them permission to faciliate the sale of stocks and bonds issued by Oregon­-based companies to Oregon investors. Chroma.fund expects to launch nationwide next year. Chroma.fund is empowering a new class of investors to grow their local economies and take part in a future where small businesses, start­ups, and creative projects are all able to “go public” — without relying on Wall Street institutions.

About Richard Kastelein

Founder, Publisher and Editor in Chief of Blockchain News and co-founder and director at Blockchain Partners in London/Amsterdam/NYC, Richard Kastelein is also an advisor with a number Blockchain startups doing ICOs including DECENT.ch, Inchain, Humaniq, Chronobank, eGaas and others.

He is regarded as one of the top journalists by the Blockchain and fintech communities – as is evident by his entry in the Top 150 Fintech journalists online and in the top 10 of the Blockchain Top 100 List. As a prominent keynote presenter, he has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven etc, where he helped spread the cause for Blockchain technology and crypto-currency and, consequently, has built a notable network inthe scene.

In 2013, the European Commission appointed him as an expert for overseeing financing for emerging startups as a part of the European Commission’s 90 billion euro Horizon 2020 project, created in Brussels to promote innovation as a driving force of job creation and business ventures across Europe. He has also worked as an external expert for Innovate UK since 2012, judging startups for the UK government.

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