KarusChain, a blockchain project for the tracking of precious metals, has announced “The Bitcoin Man”, whose real name is Herbert Sim, as advisor as well as investor in the company.
The aim of this project is to serve the precious metal mining industry by tracing its origin. To do so, it will use IBM’s private Hyperledger blockchain.
As for the funds, they were raised through an IEO (Initial Exchange Offering) that ended last month after the World Blockchain Summit in Dubai and that allowed to distribute the KRS utility token at a price of $0.10 USD.
KarusChain CEO, Richard Verkley, was excited about the IEO results and closing of the partnership with The Bitcoin Man:
“At Karuschain we pride ourselves on working with the best. It’s how we’ve created a world-class blockchain implementation company, with a moral compass for the mining industry, with an incredible real-world valuable asset. This has been achieved quickly through partnering with the best of the best in the industry like MineRP, JPMC Mining Consulting and now by bringing Herbert aboard.”
The Bitcoin Man also praised the project, explaining the diversity of the project compared to other competitors:
“Karuschain’s blockchain project is unlike the thousands of others in the industry I have seen thus far,” said Herbert Sim, “The project brings together a complete supply chain solution for the precious metals mining industry utilising blockchain technology. It gives mining companies a powerful tool to safeguard human rights, at the same time, reduce risks and improve environmental regulations in their supply chain.”
The Bitcoin Man is also the founder of the first Crypto Chain University, which collects all the research papers on cryptocurrency and blockchain since 2010.
In addition, The Bitcoin Man has invested in many other blockchain projects such as Tao Dust, which it funded for a million dollars after a meeting with the company during the Hong Kong Conference in the summer of 2019.