Sunday, June 16, 2024
spot_imgspot_img
HomeNewsEquibit Development Corporation Sets $7 million Funding Target, Crowdsale Date

Equibit Development Corporation Sets $7 million Funding Target, Crowdsale Date

Equibit Development Corporation, creator of the Equibit Blockchain and Blockchain applications for the global securities industry, said it plans to raise as much as $7 million in an initial coin offering, one of the largest on record by a Canadian-based company. The sale is set to begin Feb. 1.

EDC is offering to sell one million equibits or EQBs, a new digital asset, out of a total of 22 million equibits potentially available. The sale, which will run for 59 days to March 31, will be conducted on a special sale page at EDC’s website. Purchased equibits will be delivered to user accounts at EDC’s web wallet service, which is planned to launch concurrently with the release of the Equibit software later this year. EDC will retain any unsold equibits, as according to the sale’s terms and conditions.

“To say that we’re excited about the sale would be an understatement,’’ said Chris Horlacher, EDC’s chief executive officer. “We’re writing financial history.”

Proceeds 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.

The offering will be partitioned into batches of 100,000 equibits, with the price schedule starting at $2 per coin. Keeping to a predetermined schedule, the price for equibits will increase with each 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.

For information on participation in the sale, please see the EDC website. EDC’s complete white paper is available here and at Cornell University’s arXiv e-print archive.

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.

Richard Kasteleinhttps://www.the-blockchain.com
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 European Commission'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.
- Advertisment -spot_imgspot_img

Most Popular

Latest News