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Coinsilium has invested in a Singaporean blockchain company

Early-stage blockchain investment company Coinsilium Group has announced a modest investment in a South East Asian startup that is looking to apply the technology as part of a decentralised professional network.

Singapore-based Indorse has received SG$100,000 (approx. £56,100) backing from the London-based investor as it looks to grow out its blockchain-powered skill-based professional network.

The firm, which has already worked with private and public institutions in Singapore as well as an education institution, has built a decentralised network which can support digital diplomas and other smart contracts.

Founded by David Moskowitz and Gaurang Torvekar, Indorse allows users to display their skills on the network which are then confirmed by the blockchain, allowing endorsements and for them to get paid for any activities they do with Indorse’s own tokens.

Eddy Travia, CEO of Coinsilium, commented: “We are very excited to invest and support skill-based professional network Indorse and its founding team. As the multiple benefits of decentralised platforms become apparent to the millions of members of today’s centralised social media networks we believe there will be a natural pattern of migration towards this new generation of decentralised platforms.

“Indorse will also allow users to profit from sharing their skills and activities on the platform via reward tokens. This is a new and game-changing model in a multi-billion-dollar social media industry and we are confident that Indorse has the requisite skills and talent to propel Indorse to become one of the world’s most popular decentralised social platforms.”

David Moskowitz, Co-Founder and Chief Executive Officer of Indorse, said: “We are very proud to join the prestigious roster of Coinsilium’s portfolio companies and we look forward to Coinsilium’s support and guidance.

“Indorse has the aim to revolutionise professional social networking using new models of tokenisation and decentralisation and we believe that Coinsilium’s expertise and deep knowledge in this space will be a strategic advantage to reach our goals.”

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