Lition has partnered Coinsilium for the management of its blockchain project and advise on its $25 million token sales. Coinsilium announced this on the 3rd October.
Lition technology AG is a blockchain infrastructure company. Lition is involved in an ongoing project of developing a new blockchain infrastructure design for business use. The project would be the first scalable public, private blockchain that has deletable data features. This feature enables businesses to bring blockchain applications from their currently predominant proof of concept stage into commercial products with mass market adoption. This would be in agreement with the GDPR and broader data management.
Coinsilium is a firm that is specialized in financing and managing the development of early-stage blockchain technology companies. Lition has reached a partnership with Coinsilium for management of the project and advise on its token sale of $25 million.
The terms of the agreement between the two firms entail Coinsilium supporting Lition with its expertise throughout the preparation and execution of their forthcoming token generation event. Enhancing the role of Lition in creating a new cutting-edge blockchain technology.
Lition Blockchain Infrastructure
The blockchain infrastructure creation has seen Lition work with SAP, a leading figure of enterprise software with over 10,000 developers and more than 400,000 corporate clients globally. Meanwhile, the SAP chief innovation officer is also the Lition’s technology adviser, Dr. Jürgen Müller.
Further, aiding the full adoption and also offering a first-hand experience has made Lition develop and launch a decentralized application (Dapp) for peer-to-peer energy trading with revenue and customers from over ten cities. The decentralized application is the first world use case of a blockchain powered decentralized application to be made available to a large market of over 41 million households.
Also, Lition will run the public mainnet, and the Lition token will be used for transaction execution, staging and side chain creation.
Meanwhile, the token sale has started with the first phase, and it is targeting institutional buyer by invitation only. The project is targeting to rake in $25 million for this project, and the majority of the proceeds from the token sale will be reinvested into engineering R&D and testing, building the partnership for further real-world use cases.
The Coinsilium team stated that they are very proud to be associating with the type of Lition’s talented team. Further noting that the founder of the project has a wealth of business experience to draw upon which is needed for the success of this new project.