Toda-Algorand Announced Today A New Commitment Of $300M In Underwriting Capital Using Its Blockchain Platform To Provide Microlending At Less Than 4% In Interest Rate Targeting The Emerging Market
PALO ALTO, Calif., Aug. 17, 2017 /PRNewswire/ -- This new commitment follows a previously committed $20M capital by Quantius last September via Toda Platform alone. "We've been very pleased and surprised with the enthusiastic response from the global investment and banking community, that has moved much faster than we anticipated," said Hassan Khan, CEO of Quantius Capital, a long standing firm that specializes in lending non-dilutive capital to private SMEs. Quantius is part of the same group using the IP engine behind IQ 100 CNBC index outperforming S&P 500 since inception https://www.cnbc.com/iq100/. "The Toda protocol's ability to provide frictionless, secure and regulation compliant value transactions at a massive scale motivated us to form an entity TodaQ Financial that holds $300M per market geared for lending," added Khan.
The money will be used to incentivize existing distribution channels who are planning on powering areas in the emerging market to inject digital representation of money via mobile devices to their customers. The efficiency, security and true decentralization of the platform ensures self regulated secure financial system that can be instrumental in the acceleration towards prosperity. "Preserving wealth in local areas using near zero transaction fees can help boost their economy and accelerate towards prosperity," said Algorand author and Turing Award winner Silvio Micali.
Toda-Algorand, a joint venture between Todacorp and Algorand was announced last month in Palo Alto. It is starting to thrive and attracts businesses, governments and entrepreneurs to power their emerging market. "Our platform licensing fees are perceived to be the most expensive at first, however, the best technology can always have an ROI that justifies its existence and the current line up of deployments are proofs of our claim," said Toda-Algorand CEO Toufi Saliba, he added, "We stand for true decentralizations and I am a huge proponent to give the technology at no cost to only certain global initiatives such ACM, UN, ITU, Ethereum and Bitcoin Core."
The Toda-Algorand's key to success is to ensure the success of its clients and therefore an increase in their wealth and that of their customers which is objectively measured by an increase in their GDP. While other cryptocurrencies are treated as securities by most governments and regulators, Toda-Algorand will be the first truly decentralized system to bridge centralized currency into a decentralized blockchain while continue to be treated as currency and capable of complying of regulators as needed. "The reduction in friction of transaction cost while increasing the security have been our top priorities in utilizing the science of the blockchain," said Todd Gebhart, Chairman of TodaCorp and director at Toda Algorand.
About Toda-Algorand,
Headquartered in San Francisco, CA, Toda-Algorand is a joint venture between TodaCorp and Algorand leveraging in one platform Todarand combining both Toda Protocol and Algorand Protocol authored by Turing Award winner Silvio Micali. The platform solves the scalability, efficiency, true decentralization while providing a phenomenal business model. TodaCorp was co-founded by Toufi Saliba (serial tech-founder last startup became Intel company, prior to that built startups and IP resulting in acquisitions by Google, HP and Opentext), Dann Toliver (NASA, F500), Todd Gebhart (former co-president McAfee, Vice Chairman Intel Security) and Lila Tretikov (former CEO Wikimedia, Bank of America, Forbes 100 Most Powerful Women). The company has been self-funded to date.
Contact: Toufi Saliba, [email protected]
SOURCE TodaCorp Inc.
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