Global Blockchain Technologies has created a subsidiary to carry out the crowdsale for its Laser project, the company said Tuesday in a news release. It has also added eight new members to its advisory board.
The new unit, Laser Inc., will be based in the Cayman Islands.
The Laser Network is a SWIFT-like protocol designed to interconnect thousands of existing blockchain networks and allow transactions among them.
In addition to managing the crowdsale, the new Laser unit will manage the initial servicenode network that underpins the network.
The crowdsale will entail an equity sale in the Laser unit, with the network’s proprietary photon cryptocurrency allocated proportionately to equity purchased. A block of 6.3 million shares will be made available in the crowdsale, with a minimum purchase of 100 shares, the company said in the release. Parties who are interested in operating a servicenode must buy a minimum of 1,000 shares in Laser.
Among the company’s new advisors are Trevor Koverko, co-founder of Polymath, and Jordan Nanos, a Toronto-based software architect with Hewlett Packard Enterprise. Read more here.