Coinsilium lands new advisory client.
Coinsilium Group Limited (NEX:COIN), the blockchain company advisor, has been appointed as an advisor to Jur AG, a new blockchain-based decentralised legal ecosystem.
Coinsilium will provide strategic advisory services to Jur in relation to its fundraising and global development.
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Terms of the agreement are commercially sensitive but Coinsilium did say that the normal form in these sorts of deals is for service fees to comprise of monthly retainer fees and a final success fee. While these revenues can be meaningful, fees are usually denominated or payable in cryptocurrencies or project tokens and are therefore often subject to the high levels of volatility witnessed in this industry.
The Jur team is led by co-founder and chief executive officer, Alessandro Palombo, who is a lawyer by profession.
Jur plans to build an "internet of contracts and jurisdictions" heralding an evolution in business relations.
Jur recently announced the successful completion of a funding round and strategic cooperation agreement with VeChain Foundation, a non-profit entity based in Singapore running the VeChain Thor Mainnet.
"The Jur platform will use digital tools such as modular, template-based smart legal contracts with easily customisable content and automate blockchain enforcement to provide cost-effective, efficient, scalable and secure solutions for small to medium size enterprises and professionals," said Coinsilium's chief executive officer, Eddy Travia.
"Coinsilium's advisory services division continues to grow in line with management's expectations and new advisory agreements such as that announced today clearly demonstrate the strength of our commercial model.
"With continued success, returns from our advisory activities will materially bolster the company's revenues and underlying balance sheet. We expect both our advisory services work and our investments to drive shareholder value as the blockchain technology sector continues to establish itself, and advance and grow," Travia added.
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|Publication:||Proactive Investors United Kingdom|
|Date:||Jul 29, 2019|
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