ConsenSys

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ConsenSys Inc.
Corporation
IndustryBlockchain software
FoundedOctober 2014[1]
FoundersJoseph Lubin (entrepreneur)
Headquarters,
U.S.
Key people
Joseph Lubin
Number of employees
900+ (2018)
Websitewww.consensys.net

ConsenSys is a blockchain software technology company founded by Joseph Lubin based in Brooklyn, New York.[2]

Company[edit]

Joseph Lubin founded ConsenSys in early 2015 as a software foundry to develop decentralized software services and applications that operate on the Ethereum blockchain.[3]

As of July 2018, ConsenSys has more than 900 employees. Its main office is located in an old industrial building in Bushwick, Brooklyn and was described by The New York Times as "essentially one large room, with all the messy trademarks of a start-up operation, including white boards on the walls and computer parts lying around."[4]

On October 31st, 2018, ConsenSys acquired Planetary Resources, an asteroid mining company.[5]

In December 2018, ConsenSys announced a restructuring and projected layoffs of 13% of the staff.[6][7]

Projects[edit]

As a dedicated venture studio, ConsenSys is actively involved in numerous projects and initiatives.

  • Meridio is a platform to create, manage, and trade fractional ownership shares in real estate assets.[8]
  • TransActive Grid is a joint venture with LO3 Energy which proposes to allow peer-to-peer electricity sales[11]
  • Ujo Music.[12] Imogen Heap used the technology to release her single Tiny Human.[12]
  • DAOWars is a project where human players design autonomous agents to outfight and outwit other agents created by competitors[10]
  • GroupGnosis is a platform for prediction markets[10]
  • EtherSign is a cryptographic tool for managing and signing documents[10]
  • Blockstack Labs is a project with Microsoft to address human rights issues by creating identity systems on the blockchain.[13]

ICOs[edit]

Several ConsenSys companies and projects raised capital from the public in the form of Initial Coin Offerings (ICOs).

  • SingularDTV, a ConsenSys media and entertainment project, sold SNGLS tokens to the public in an ICO in October 2016. SingularDTV raised $7.5 million in under 15 minutes.[14] The company originally promised to share project revenues with holders of SNGLS tokens, although such payments haven't been made yet.[15]
  • Gnosis, a ConsenSys-backed prediction market project sold GNO tokens to the public in an ICO in April 2017.[16][17] The company raised $12.5 million at $300 million valuation, completing its ICO in under 12 minutes. The valuation was criticized by several prominent members of the community.[18][19]
  • Grid+, a ConsenSys company in the electricity distribution niche sold GRID tokens to the public in an ICO in September 2017. The company raised $29 million in the public token sale.[20][21][22] It shut its ICO early due to overwhelming interest.
  • Airswap, a ConsenSys company that runs a decentralized trading platform sold AST tokens to the public in an ICO in October 2017. The company raised $36 million from over 9400 investors in 135 countries.[23][24]
  • Adchain, a ConsenSys company building a digital advertising registry, sold ADT tokens to the public in an ICO in April 2018. The project raised $10 million.[25][26]
  • Civil Media, a ConsenSys-backed company that claims to use cryptocurrency to save journalism sold CVL tokens to the public in an ICO in October 2018. Civil was able to raise $1.8 million, less than the $8 million soft cap. It was later revealed that ConsenSys was the largest buyer of CVL tokens, buying 80% of the CVL tokens that went on sale. Civil plans for another ICO down the road.[27][28][29]

References[edit]

  1. ^ "About us". ConsenSys. Retrieved 2018-01-16.
  2. ^ "Crypto Pioneers Head to Brooklyn to Reshape Finance". Bloomberg.com. 2018-05-07. Retrieved 2018-05-16.
  3. ^ Tapscott, Don; Tapscott, Alex (May 2016). The Blockchain Revolution: How the Technology Behind Bitcoin is Changing Money, Business, and the World. pp. 87–93, 112–114. ISBN 978-0670069972.
  4. ^ Popper, Nathaniel (2016-03-27). "Ethereum, a Virtual Currency, Enables Transactions That Rival Bitcoin's". New York Times. Retrieved 2016-05-11.
  5. ^ "ConsenSys Acquires Planetary Resources". Planetary Resources. 31 October 2018. Retrieved 31 October 2018.
  6. ^ Kauflin, Jeff. "Cryptopia In Crisis: Joe Lubin's Ethereum Experiment Is A Mess. How Long Will He Prop It Up?". Forbes. Retrieved 2018-12-06.
  7. ^ Seward, Zack (2018-12-06). "ConsenSys Confirms Layoffs, Projecting 13% of Staff at Startups to Be Cut". CoinDesk. Retrieved 2018-12-06.
  8. ^ "A Blockchain Building in Bushwick". Retrieved 2018-09-14.
  9. ^ Rosenbush, Steve (2015-11-11). "The Morning Download: Microsoft Offers Blockchain Over Its Azure Cloud". Wall Street Journal. Retrieved 2016-05-11.
  10. ^ a b c d Shieber, Jonathan (2015-10-28). "Microsoft Partners With ConsenSys To Use Ethereum To Provide Blockchain-As-A-Service". TechCrunch. Retrieved 2016-05-11.
  11. ^ Rutkin, Aviva (2 March 2016). "Blockchain-based microgrid gives power to consumers in New York". New Scientist. Reed Business Information. Retrieved 24 March 2016.
  12. ^ a b Allison, Ian (4 October 2015). "Imogen Heap shows how smart music contracts work using Ethereum". International Business Times. Retrieved 24 March 2016.
  13. ^ Ian Allison (2016-05-31). "ConsenSys and Microsoft tackle human rights abuses with blockchain-based identity system". International Business Times.
  14. ^ "SingularDTV Reaches ICO Cap in 15 Minutes". ETHNews.com. Retrieved 2018-11-18.
  15. ^ Bo, Federico (2018-10-15). "SingularDTV, entertainment of the future between blockchain, tokens and disintermediation". Medium. Retrieved 2018-11-18.
  16. ^ Aitken, Roger. "Gnosis' Prediction Market Scores $12.5M In 'Record-Breaking' Crypto Auction". Forbes. Retrieved 2018-11-18.
  17. ^ "Ethereum Prediction Market Gnosis' ICO Raises $12.5 Million in Minutes at $300 Million Valuation". CCN. 2017-04-25. Retrieved 2018-11-18.
  18. ^ "ICO Insanity? $300 Million Gnosis Valuation Sparks Market Reaction - CoinDesk". CoinDesk. 2017-04-24. Retrieved 2018-11-18.
  19. ^ "Going Dutch Leaves Gnosis ICO Investors Unhappy - Cryptovest". Cryptovest. 2017-08-23. Retrieved 2018-11-18.
  20. ^ "Blockchain startup Grid+ halts pre-sale of tokens after staggering demand - Technical.ly Brooklyn". Technical.ly Brooklyn. 2017-09-12. Retrieved 2018-11-18.
  21. ^ "ConsenSys Has Begun Supplying Electricity Using Ethereum to Texas". CCN. 2018-09-24. Retrieved 2018-11-18.
  22. ^ "Grid+ Raises $29 Million as Blockchain Fever Grows". Retrieved 2018-11-18.
  23. ^ "Decentrlized Token Exchange AirSwap ICO Raises $20 Million During Presale". CCN. 2017-10-05. Retrieved 2018-11-18.
  24. ^ "East Williamsburg's Airswap raises $36 million in ICO - Technical.ly Brooklyn". Technical.ly Brooklyn. 2017-10-18. Retrieved 2018-11-18.
  25. ^ News, Blockchain Daily. "MetaX Completes $10 Million adToken (ADT) Sale". Blockchain Daily News - ICO, STO, TAO, Blockchain (in French). Retrieved 2018-11-18.
  26. ^ Scott, Michael. "Blockchain-Based Digital Ad Solution Tackles Fraud". Bitcoin Magazine. Retrieved 2018-11-18.
  27. ^ "ConsenSys bought most of the CVL tokens in Civil Media's disappointing ICO — Quartz". qz.com. Retrieved 2018-11-18.
  28. ^ "One Big Backer Is Propping Up Media Startup Civil's Struggling ICO - CoinDesk". CoinDesk. 2018-10-10. Retrieved 2018-11-18.
  29. ^ Castor, Amy. ""This Isn't How We Saw This Going": Civil's Token Sale Is Treading Water". Bitcoin Magazine. Retrieved 2018-11-18.

External links[edit]