Medici Ventures to Make Seed Round Investment in Blockchain Startup SettleMint

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Medici Ventures,  a Blockchain-oriented subsidiary of Overstock.com has announced today it will add Belgium-based SettleMint to its portfolio of investment companies.

A fintech firm specializing in developing software leveraging distributed ledger technology, SettleMint most recently released SettleMint Ballot Box, an application successfully demonstrating the ease, security and immutability of recording voting to the bitcoin Blockchain.

“Medici Ventures is immersed in a global search for outstanding companies poised to disrupt key sectors with Blockchain technology,” said Jonathan Johnson, president of Medici Ventures. “SettleMint is precisely the kind of company we hoped to find and we’re pleased to be an angel investor at such an early stage of what promises to be a very auspicious future.”

“Medici Ventures believes that Blockchain technology can replace over 100 mechanisms of modern civilization and perform their functions far less expensively, and with less risk of capture and corruption, than those functions are being performed by current social institutions,” said Patrick Byrne, CEO of Overstock. “Two years ago we identified six functions that will be fundamental to this new age, one of which was voting. Among SettleMint’s several great attractions to Medici Ventures’ capital has been their early work on Blockchain voting. The immutability and universal accessibility of the Blockchain make it the prefect technology for achieving higher confidence in the democratic process, for everyone.” 

SettleMint is also making significant progress in the realm of property titling technology and procedures for simplifying ‘know your customer’ (KYC) compliance, also areas of primary interest at Medici Ventures.

In addition to joining the Medici Ventures portfolio, SettleMint will represent t0.com, Inc – also a Medici Ventures investment – as that firm seeks to expand its European presence.

“The list of Blockchain firms that Medici Ventures has invested in already and those that are seeking to join the Medici Ventures portfolio, is long and distinguished,” said SettleMint Founder and CEO Matthew Van Niekerk. “It’s very exciting to be a part of this organization, which shares our vision and determination to move Blockchain technology from the realm of theory, squarely into reality. And that it’s happening in conjunction with the release of our SettleMint Ballot Box makes this a thrilling time for our company.”

Launched in 2014, Medici Ventures was created to manage and oversee the company’s investments in firms building solutions leveraging and servicing Blockchain technologies. Medici project investments include: t0, PeerNova, Bitt.com and Identity Mind.

About Richard Kastelein

Founder, Publisher and Editor in Chief of industry leading online publication, Blockchain News and co-founder and director at Blockchain Partners in London/Amsterdam/NYC. Kastelein is also an advisor with a number Blockchain startups doing ICOs including Humaniq.co where hs is interim CMO, DECENT.ch, Inchain, 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, Bucharest, Nairobi, Tel Aviv, Manchester, Brussels, Barcelona etc, where he helped spread the cause for Blockchain technology and cryptocurrency and, consequently, has built a notable network in the scene.

He’s also a director of a Dutch foundation called The Hackitarians and has run innovation events in London, San Francisco, Berlin, Amsterdam and other cities around the world on topics such Blockchain, Health, Energy, Internet of Things, AI etc.

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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