Chinese Blockchain Startup Antshares raises $4.5 Million in Crowdsale to Build Onchain

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Antshares Blockchain, a Shanghai-based open-source Blockchain project, has raised more than $4.5 million in a crowdsale to complete building out its innovative Antshares Blockchain under an “Onchain universal Blockchain” framework, which will digitize, record and track physical goods and assets, ranging from real estate titles to corporate equity, from supply chain assets to creditors’ claims.

“Our vision is to make Onchain a truly universal Blockchain framework,” said Da Hongfei, founder and CEO of Onchain and creator of Antshares. “Utilizing different plug-in modules, our framework could be applied for a public chain, a consortium chain or even a private chain. Our cross-chain adaptor module, currently under development, creates interoperability among these different chains.”

Antshares incorporates a number of firsts:

  • First open-source Blockchain project developed in China.
  • First significant Chinese ICO (6119.53 BTC raised in its August/September crowdsale), with more than 50 percent of the participants from outside of China.
  • First organic Chinese Blockchain project to work with both Microsoft Azure and the Hyperledger Project.

The Antshares team has been busy since the close of the ICO readying its wallets (in both Chinese and English) and mainnet for global release, which will take place by the end of October, said Hongfei. It is also developing its web wallet and mobile wallet (iOS/Android/WP), which will be released at the same time as the mainnet.

For its leadership and innovation, Onchain recently received the Award for Excellence in Innovation in Blockchain Technology from Frost & Sullivan, and was also named a KPMG China Leading Fintech 50 selection.

Onchain is an open-source “universal Blockchain” platform, incorporating a framework which allows public, permissioned (consortium) or private Blockchains, and will eventually allow interoperability among these modes. Antshares was developed by Onchain Blockchain Services, Shanghai, and received $4.5 million in funding, with more than half of the participants came from outside of China. The Onchain team, led by founder Da Hongfei, includes prominent developers and executives formerly with Huobi, BTCC, China UnionPay, Standard Chartered, State Street and Morgan Stanley.

Richard Kastelein

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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