Canadian-Based Coinaccord Launches a Premiere Blockchain Venture Studio

Helps Clients Benefit from the World of Decentralized Ledgers, Applications, and Organizations

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Nov 16, 2017, 07:58 ET

HAMILTON, Ontario, Nov. 16, 2017 /PRNewswire/ -- Canadian-based Coinaccord today announced the launch of their premiere, blockchain venture studio in Hamilton, Ontario.

With Fortune 500 companies embracing the application of blockchain technology, Coinaccord opens its doors to help individuals and businesses take advantage of the unrivaled technological advances provided by distributed and decentralized digital ledgers.

Coinaccord logo

"Blockchain technology has created a world of possibilities for innovative disruption where incumbent intermediaries have long held control over entire industries with little value added to consumers," said Ronald Chan, Co-Founder of Coinaccord. "Our blockchain venture studio was founded to capitalize on these opportunities."

Coinaccord wants to inspire the development of a society that can operate in a fully transparent, yet secure and democratic nature. Imagine a healthcare system that provides patients the power to control their own medical history, deciding who can see it and when. Imagine being able to verify each step in the supply chain, proving ethical fair trade from supply to consumption. Imagine a democratic voting system designed to be accountable and open to public review, from a registered voter system to the disbursement of campaign funds. Today's sharing economy platforms still do not fairly redistribute the value provided by the participants. A significant amount of the profits are still captured by the large intermediaries who operate the businesses. With Blockchain technology we will finally see the concept genuinely realized. We even believe in the possibility of a government operating through the use of a series of immutable smart contracts and decentralized applications (dApps).

Much of what is described above already exists in the blockchain product ecosystem. Since the birth of cryptocurrency in 2009, while much of the public has been fixated on discussing the price of a bitcoin, countless startups and Fortune 500 companies have been quietly working on leveraging blockchain architecture to build new business models that were not previously possible. Brave Browser shields users from invasive ads while simultaneously rewarding them for their attention while browsing quality publishers. Siacoin provides decentralized file hosting, reducing costs, and incentivizing individuals for participation. Factom is a blockchain-based notary service letting businesses and individuals prove the validity of digital and physical assets. On a larger scale, Estonia has implemented a distributed ledger to store and secure its citizens' personally identifiable information (PII). Estonians can now log into their own records to see exactly which government agencies have accessed their data, and for what purpose.

With a focus on helping businesses eliminate costly intermediates from their operational workflows, Coinaccord leverages disruptive emerging technologies to create leading-edge business models. Possibly the biggest potential for innovative disruption exists in small-to-medium businesses with the agility to quickly iterate on new business models and rapidly test new concepts. Coinaccord aims to position itself as an experienced resource for businesses entering the unfamiliar territory associated with the blockchain space.

"The ultimate goal being to remove the uncertainty and risk involved with launching a blockchain product or service, or incorporating new governance models to facilitate internal decision making. Decentralized autonomous organizations (DAOs), dApps, smart contracts, and the consensus systems which drive them, carry an immense amount of transformative potential, and Coinaccord wants to help businesses maximize the available benefits." added Alex Sheluchin, Co-Founder of Coinaccord.

Coinaccord has the advantage of leveraging parent company Netquity Corporation to provide business, developmental and operational experience on a multi-national scale. Netquity Corporation, founded in 2001, is a multidisciplinary, technology consulting firm providing the commercial aviation industry with leading-edge operational systems. With software and hardware deployments across multiple continents, in a real-time mission critical environment, Netquity is in familiar territory when it comes to managing projects with a high cost of failure. This business and technological acumen translates well to the immutable nature of blockchain and smart contracts, as accuracy and the ability to execute correctly the first time, and every time, is a critical business requirement.

About Coinaccord

Coinaccord is an industry leader offering complete turn-key blockchain venture startup services. Complete end-to-end development, assurance, and consulting services with expertise in: