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:

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  • 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.

About Richard Kastelein

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, the Netherlands where he has set down his anchor to raise a family and write.

Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications.

Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the EuropeanCommission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.

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