CasperLabs Raises $14 Million to Work on Scalability with Zamfir as a Researcher

Blockchain startup CasperLabs announced it has raised $14.5 million in a series A funding round, which was led by Terren Piezer, an International financier and chairman of Los Angeles-based investment company, Acuitas Group Holdings.

According to the news published on September 10th, CasperLabs is an open-source blockchain that seeks to achieve scale without sacrificing decentralization and has recently raised $14.5 million in a Series A round. CasperLabs stated that the new funds will be used for product development and hiring of new engineers.

The startup launched in February with Ethereum Foundation researcher Vlad Zamfir acting as lead consensus protocol architect. The platform is said to remove barriers that prevent mainstream blockchain adoption and is powered by the first implementation of Zamfir’s CBC Casper proof-of-stake protocol.

Currently, it is working to solve the trilemma of scale, decentralization and security  as well as building a developer-friendly platform to build and operate decentralized apps (dApps), based on a version of proof-of-stake (PoS) consensus protocol – specifically Zamfir’s Correct-by-Construction (CBC) Casper PoS.

Mrinal Manohar co-founder and CEO of CasperLabs’ parent firm ADAPtive Holdings has shared his has stated that several technical updates are to be expected in the coming months. He further noted that they welcome any and all feedback via their open source code repository on Github.

Medha Parlikar, CTO of CasperLabs said that the company will be investing in their core technical team, as well as important initiatives including ecosystem support, usability and experience, and more.

“We have been working hard to build the first concrete protocol implementation of CBC-Casper that is provably live and safe. The CBC-Casper whitepaper doesn’t define the complete protocol, so we’re excited to share some big news on this topic soon,” concluded Parlikar.

The funding round was led by financier Terren Peizer, dubbed the “Zelig of Wall Street”, through his personal holding company – Acuitas Group Holdings. Piezer has a long track record in the investment banking world having worked at Goldman Sachs, First Boston, Drexel and more.

Peizer said he had been following and studying the blockchain space since its early days and had been waiting for a company that could build the strength and decentralized aspects of a public chain with the speed, security, and scalability of a next-gen platform.

He further added:

“Scalability of a product and company is the leading driver of value creation. Consistently, the most proficiently scalable company becomes the industry leader.”

Other investors who took part in the funding round include Arrington XRP Capital, Consensus Capital, Axiom Holdings Group, Digital Strategies, MW Partners, Blockchange Ventures, Hashkey Capital, and Distributed Global.

Real Estate Developer To Hold Security Token Offering To Fund Australian Island Resort Development

The most recent development in the cryptocurrency world is the new venture on the luxurious island off the coast of Australia that needs funding and the Great Keppel Island plans to hold a security token sale giving investors the possibility of owning a stake in the island.

The entire project is spearheaded by a cryptocurrency organization that seeks to amass $300 million in investment for the redevelopment of the island. The team wants to hold a security token offering (STO), which is different from an ICO in that the tokens represent a security and these usually are overseen by Central Financial Authorities. It is presumed the team has the backing of the Australian government in this endeavor.

Since the island is known for its majestic natural white beaches and beautiful coral reefs, the goal is to create a futuristic luxury complex on the island together with 750 villas and 300 extravagant apartments, including a golf path designed by Greg Norman and a 5-star luxury hotel on the beach. Thus the organization intents to hold a token sale offering investors the chance to own a stake in the island by funding the project.

Details about the first round of funding haven’t been given out, however according to the Sydney Morning Herald it is speculated the funding to be within a six-figure range, as it usually is with most security token offerings. Great Keppel Island tokens will also be available for purchasing by investors at later rounds of funding. The buyers will be able as well to trade off the GKI tokens on the existing crypto exchange platforms. Moreover, the organization declares that once the redevelopment is finalized, the island will be worth billions. Therefore, the price of GKI is projected to increase, assuring the investors of their contribution.

Having spent years trying to get ahold of authorization and investors for the redevelopment of the island, this venture has been a dream project for Tower Holdings, a company that owns 70% of the island. With the help of the cryptocurrency agency, this could be finally realized.

According to the terms of the venture, the owner of the previously operating resort will also hold 12% of the total sum of tokens.

However, the Great Keppel Island sale is not the only instance of real estate developers that seek investment through the use of digital tokens. Another example would be Aspen Digital offering stocks in St. Regis Aspen represented through Aspen coins.

Additionally, a promotional video of the sale token presents the project as a unique opportunity to investors considering the scale of the entire project. It is also speculated that more details about the project will soon be made public.