ICO of the week: Commerceblock

ICO of the week: Commerceblock

Project name: Commerceblock

Web site: https://www.commerceblock.com/
What’s it about: open blockchain infrastructure establishment.
Crowdsale period: 08/11/2017-06/12/2017
Project target: hard cap 25,000,000 USD

About the project:

CommerceBlock represents a distributive service which features innovative software and totally completed infrastructure. The main objective of the service is to replace and disrupt currently existing IT infrastructural systems of big financial companies, such as banking establishments. It also intends to limit the intermediary influence within the industry.

CommerceBlock provides opportunities for trust minimized trading, agreement execution on the principles of decentralization, on-chain derivatives as well as supported by assets token issuance.

The platform offers all necessary tools required by fintech companies. Entering contracts becomes simpler due to the implementation of smart contract templates. CommerceBlock provides instruments enabling support of escrow services, trade flow control, asset issuance as well as trade data analysis, which became even simpler thanks to the Lightning Network.

One of the main advantages of the platform is its high level of security and protection. Relying on the Bitcoin Improvement Proposal the CommerceBlock project represents a kind of Pay-to-Contract Protocol which ensures private data is fully secured. All the documents received by the participants feature cryptographic proof, ownership and party information as well as the transaction value.

Features of the project:

  • The project is already available. Due to the openness of its code, anybody can use it for the development of applications. The appearance of decent services increases the value of the token.
  • Commerceblock features a high-quality security infrastructure powered by Zero-knowledge verification together with authorization. The process of contract creation is performed on the customer’s side. Backend proceedings have no possibility to reach personal customer data.
  • Due to the elimination of intermediary influence and activity the costs will reduce, while the level of protection and productivity will increase.

The team:

Nicholas Gregory, the Chief Executive and the founder of Commerceblock, is an experienced professional in the field of technology and finance. He held key positions in Merrill Lynch as well as at JPMorgan, and participated in bitcoin starting from 2012. Omar Shibli, the Chief technology officer of the project, has invaluable experience in startup launching. He was a leader of Zocdoc and Eyeview and invested in cryptocurrency startups of Github. Dan Eve, leading the Operation department, with more than 4 years of cryptocurrency mining, investing as well as trading experience, has a strong bachkground acting as Business Analyst in a FTSE 50 finance company.