ConsenSys Acquires Stake In Blockchain Infrastructure Startup Allinfra February 22, 2019 February 22, 2019 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Ethereum NewsFebruary 22, 2019 by Kelly Cromley

ConsenSys Acquires Stake In Blockchain Infrastructure Startup Allinfra

ConsenSys, a startup which is involved in projects related to Ethereum (ETH) blockchain, has taken a stake in Allinfra, an infrastructure investment firm.

The announcement states that Allinfra will depend partly on the technical abilities and experience of ConsenSys in the domain of tokenized assets. The actual amount of investment is yet to be revealed.

Allinfra, whose focus is infrastructure assets which are unlisted, enables investing directly through Ethereum blockchain. Users will be able to create, acquire and transfer their stake in the invested assets. ConsenSys has pointed out that Allinfra’s platform allows not only institutional investors but also retail investors to acquire a stake in projects of interest.

Joe Lubin, Ethereum co-creator and ConsenSys founder, has opined that Allinfra will play its part in the creation of more transparent and equitable markets:

“In the case of unlisted infrastructure, a traditionally restricted, and illiquid asset class, Allinfra will enable a wider audience to efficiently access and participate in the economic benefits of these assets.”

Dave Sandor, Co-founder and CEO of Allinfra, disclosed that in the months ahead, the firm “will be in the market supporting a flagship infrastructure tokenization project.”

It can be remembered that ConsenSys took part in a $2 million seed funding round for Monerium, a blockchain startup-based out of Iceland. Monerium is developing a practical solution for “bridging fiat money and blockchains.”

However, everything is not rosy in the blockchain sector. Recently, ConsenSys trimmed roughly 13% of its staff, who were part of technical and support teams.

Vanessa Grellet, Executive Director of Enterprise and Social Impact at ConsenSys, stated that it was a “natural movement,” as the startup has been growing “a little bit fast.”

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.