Canadian Blockchain Startup Equibit Raises Quarter Million Dollars in Day One of Initial Coin Offering (ICO)

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Canada’s Equibit Development Corporation, creator of the Equibit Blockchain and Blockchain applications for the global securities industry, opened its initial coin offering on Feb. 1 selling $250,000 worth in equibits on the sale’s first day.

“We’re off to an incredible start. Over 120,000 equibits have been sold so far,’’ said Chris Horlacher, EDC’s chief executive officer. “This shows the strong support we’re getting from the community and will only get stronger as events unfold over the next two months.”

EDC has offered to sell one million equibits, a new digital asset, out of a total of 22 million equibits potentially available. The sale will run for 59 days to March 31 and is being held on a special sale page at EDC’s website.

Purchased equibits will be delivered to user accounts at EDC’s web-wallet service. EDC will retain any unsold equibits, as according to the sale’s terms and conditions.

The offering started with an initial batch of 100,000 equibits priced at $2 per coin. The crowdsale will adhere to a predetermined schedule, with the price for equibits to increase with each subsequent batch.

All equibits sold in the coin offering will be created in the EDC platform’s genesis block, constituting the inception of the system’s operation.

Proceeds from the crowdsale will be used to expand EDC’s team of developers, accelerate product development, support and expand the network of equibit supporters, install enterprise infrastructure such as supernodes and market Equibit Blockchain applications.

For information on participation in the sale, please see the EDC website at equibit.org.

Equibit is the world’s first peer-to-peer equity marketplace and a complete platform for issuers to manage their investor relations without need of depositories and transfer agents. Founded by a former securities industry chief financial officer and a team of Blockchain development experts, EDC was established with the aim of revolutionizing the securities industry.

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) - Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, "The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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