Bitcoin pioneer Charlie Shrem is back in the game with a new blockchain venture that offers a unique way for people to invest in the digital currency.
Charlie Shrem is co-founding the startup, Intellisys Capital, alongside real estate and private equity expert, Jason Granger.
Shrem’s new blockchain venture is the latest news about him in a long while and his first after he was released from prison where he served a two-year sentence for aiding and abetting the operation of an unlicensed money-transmitting business.
He was the former founder of BitInstant (now defunct due to regulatory concerns) and an esteemed founding member of the Bitcoin Foundation.
Drastic Change the Private Investment Equity Landscape
Intellisys Capital features a spread out portfolio management platform that is based on blockchain technology, real estate, and middle market operating companies based in the U.S.
The anticipated fund will avail shares on the ethereum platform.
Shrem’s new blockchain venture is looking to expand the horizons for investors by providing new investment opportunities that are not available in the traditional investment market.
The use of highly reliable blockchain technology will also add a measure of transparency in the operations of the proposed investment portfolio.
Shrem’s key selling point is that his proposed token is unlike bitcoin and all other alt-coin tokens, simply because it is backed by real tangible assets.
Shrem’s Blockchain Venture to Modernize Private Equity
What’s Intellisys Capital brings to the table for investors is a selected few stable company with an appreciating cash flow, strong management teams, and a non-complicated business model.
The startup looks to help its portfolio companies to access their target markets by helping them scale upwards and expand.
From their official website, the Intellisys Capital expressed their desire to bring to investors stro ng companies that they previously did not have access to while guaranteeing them of solid returns.
They hope that the combination of a diversified portfolio of assets and focusing on developing powerful synergies with bitcoin and blockchain opportunities will provide a much greater value for investors.
The Intellisys Capital fund will be called Mainstreet Investment, and will be opened up for shares early in 2017.
It was formed specifically to issue digital token securities that are backed by real assets. The initial token offering of the Mainstreet Investment Token will commence on January 15.
30% of the total shares will be owned by token holders while Intellisys Capital will retain the controlling stake of 70%.
The startup hopes to start generating dividends which it aims to further invest in blockchain technology companies in order to build a solid portfolio.
According to Shrem, this is primarily why the startup uses the ethereum platform.
It will also issue a percentage of its dividends to its token holders.
Shrem’s ultimate goal is to synergize the existing traditional finance sector with blockchain technology as a way of incorporating the efficiencies of the latter into the workings of the former in order to come up with an improved way of investing.
Token issuance will adhere to Know Your Customer requirements and will be done on a qualified blockchain ledger platform, which will also record private securities transactions.
Shrem spoke to the Observer, saying that purchasing their first company is the final piece of the puzzle and all that is left for him to commence his blockchain strategy.
After the company is purchased, a commissioned report will be released to the prospective investors soon after, detailing the goals of the company and how it stands to benefit from the blockchain technology.
This latest news shows that Shrem has certainly bounced back with this announcement, which, if successful, will go a long way to rebuilding his damaged reputation.