Israel’s iCapital Invests In Blockchain Mobile Mining System Enecuum

iCapital, an Israel-based fund management platform, has joined hands with Enecuum to fund the Hong Kong-based firm. In a statement, Enecuum, which is a blockchain platform offering mobile mining system, indicated that the two had reached a memorandum of understanding (MoU). The MoU has established cooperation between the two for long-term purposes. The agreement comes even as the country is not against either the blockchain or the virtual currency sector as a whole. The country is also not worried about the status report of the two emerging fintech instruments.

Due Diligence

The Israel firm indicated that it struck the MoU only after completing due diligence by its experts on the Enecuum project. Incidentally, the project focused on three key parameters. This included business model, technology, team and a number of other major criteria, reported. Once the process is completed, then the fund management company has taken a decision to invest in the mobile mining system. iCapital GM Agada Nameri disclosed that the company has started to invest in blockchain three years back.

The GM indicated that the company had identified the innovation of the blockchain technology, which has immense potential to revolutionize. This apart, it could also disrupt a number of aspects of day-to-day lives. Nameri indicated that iCapital is obsessive with projects so that it is confident of adding value to not only the teams but also extending their supporting efforts. The agreement between the two enables Shelly Hod Moyal from iCapital to be a founding partner of Enecuum.

Apart from that, Moyal is an iAngels founding partner. The company is engaged in VC, as well as, investment platform in Israel for high-tech equity deals managing $140 million worth of assets. The GM pointed out that the firm enjoys a long experience in monitoring several projects throughout the world mainly due to its investment platform. At the same time, they were impressed especially with Enecuum because of the way it settles blockchain’s issues.

This included speed, security, and scalability through the application of a hybrid system that involves mobile mining apart from an exclusive data structure. This will develop a synergy among the conventional blockchains and directed acyclic graphs. The GM’s excitement is more about the team’s network strength, vision, and technology. Despite some skepticism about blockchain technology, enterprises continue to focus on it since it is termed as the most disruptive in a decade.

Emerging Asset Class

Mikhail Saifullin, co-founder, and CEO of Enecuum thinks that blockchain is a new and emerging asset class. He also believes that the sector is gaining traction quickly among individual investors and fund managers throughout the globe as they look forward to expanding their portfolios.

Saiullin reacted to express deep gratitude for the high level of appreciation from iCapial apart from the trust reposed on its product. Interestingly, Mike Novogratz, a popular hedge fund manager, has predicted earlier about the increasing focus towards blockchain projects. He foresees a group of institutional investors entering the crypto, which will make the market little more stable. Novogratz joined the virtual currency sector in 2015, and since then he is a big supporter of cryptocurrencies.

John Creech

John is a Tech Journalist. He has been passionate for the cryptocurrencies for over 4 years now. He loves writing about technological advancements and always seeks to analyse what future will bring to us.