Chainium, a blockchain-based platform attempting to disrupt the world’s equity markets, will begin its main token sale tomorrow, the 28th March.
The project, which has relatively modest funding requirements, has already raised $4 million in pre-sales and is now seeking to raise a further $3.4 million in its public, main sale. The sale will run until 4th April, or until the hard-cap is reached, whichever comes first.
Chainium’s vision is for a more efficient shares market that allows more companies to access capital, and more investors to access that market. While other blockchain projects are aiming to tokenise traditional financial assets or at least link them to a blockchain, Chainium intends to reinvent the entire system.
Former Prime Minister Acting as Advisor
For small companies, the cost of complying with IPO regulations is often what stops them raising capital from public markets. Chainium hopes to solve this problem by building a market access platform with comparatively low onboarding costs, especially for small companies.
The network will be built to handle publicly available data as well as confidential data. To do this, Chainium is building what it calls a dual blockchain, which allows for personal data to be hidden. For each transaction to be valid, a record needs to exist on both the public and private blockchains.
The company is based in Liechtenstein and even lists Klaus Tschuetscher, the country’s former Prime Minister as an advisor. Liechtenstein itself is trying to position itself as a blockchain hub and is hoping Chainium will raise its profile in this regard.
Chainium is raising a modest amount for such an ambitious project, which implies more upside for token holders if it is successful. The million-dollar question then is whether it’s raising enough capital to achieve that goal.