Charlie Shrem is one of the most prominent members of the Bitcoin industry today. Even though he recently served a stint in prison, that environment has not stifled his sense of entrepreneurship. In fact, Shrem is now the CTO of Intellisys, a partner of Mainstreet Investment, L.P. This latter company announced their digital token security launch, which will be backed by real assets.
Digital Token Security Backed By Tangible Assets
Come January 2017, Mainstreet Investment, L.P. will launch their Investment Token Sale Prior to this launch. However, the company has issued their details and procedures related to this milestone event. Creating a digital token security backed by tangible assets is not can easy feat, but the company wants to be as transparent about this event as possible.
By launching their Initial Token Offering Memorandum, Mainstreet Investment has taken a significant step towards shaking up the world of digital token securities. As is the case with any token sale, the company has certain goals they want to achieve, as well as objectives that will need to be reached within an allotted timeframe.
Charlie Shrem, the chief technology officer for Mainstreet Investment, is quite excited about the developments so far. In fact, he told the media how Intellisys wants to be “as upfront as possible about the token offering and what investors can expect.” The primary objective of this fund is to revolutionize the way investment occurs through blockchain technology.
A total of 50 million Mainstreet tokens will be available for sale starting on January 15th. Supported payment options are Bitcoin and Ether, both of which are popular within their own communities. What is rather intriguing is how the team wants to cap the token sale at a US$25m valuation, with a 10% holdback that can be used for additional investment. Tokens that remain unsold after the sale will be destroyed through the proof-of-burn process.
Intellisys’ role in this token sale will revolve around guiding Mainstreet Investment in using the proceeds of this sale as an investment vehicle. More specifically, they want to help the company invest the money in US companies and real estate projects. Charlie Shrem also mentioned how Intellisys would “look at blockchain companies synergetic with our portfolio companies.” This is quite an intriguing strategy that could yield unexpected results in the long run.
It will be interesting to see what this project by Mainstreet Investment can bring to the table. It is evident that the company wants to merge technology, investment, and securities law into can attractive offering. As is the case with any ambitious project, there seems to be a lot of excitement during the initial stages, but only time will tell if things will play out in a positive manner.
If you liked this article, follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin, cryptocurrency, and technology news.