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Share Name Share Symbol Market Type Share ISIN Share Description
KR1 Plc NEX:KR1 NEX Ordinary Share IM00BYYPQX37
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 7.50p 6.50p 8.00p 7.50p 7.50p 7.50p 0 07:52:54
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
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KR1 plc Investments: Rlay and Nash

22/01/2019 7:00am

UK Regulatory (RNS & others)


 
TIDMKR1 
 
KR1 Plc 
 
                           ("KR1" or the "Company") 
 
                          Investments: Rlay and Nash 
 
KR1 is pleased to announce that the Company has invested a total of USD200,000 
into the Rlay project ("Rlay"). Rlay is a data collaboration framework used to 
build novel data crowdsourcing solutions, data standards for interoperability 
and meta-data, token curated registries ("TCRs") and other data-driven 
decentralised applications in the curation market space. The funding was 
provided to Rlay in tranches over the last year and the Company will receive a 
yet-to-be-determined amount of discounted tokens which will power the Rlay 
platform at a significant discount to the lowest price paid by any investor in 
an ICO event. 
 
Rlay seeks to solve blockchain's external data problem, where information being 
put into a blockchain from the outside world may not be accurate. Rlay aims to 
use a combination of token incentives and computer software to create a 
verifiably correct data set that can then be used with far more assurance. 
 
KR1 has also invested USD50,000 into the Nash Exchange("Nash") for 50,000 Nash 
tokens. Nash is a decentralised exchange that has successfully launched the 
first regulatory-approved securitised revenue-share token out of Liechtenstein. 
Nash, previously known as Neon Exchange, is founded by a team of significant 
figures in the open-source NEO community but will interoperate between the 
Ethereum and NEO blockchains from launch and add more in the future. 
 
Nash combines the performance of a centralised exchange with the trust and 
security properties of decentralised exchanges. The system consists of an 
off-chain matching engine and an on-chain settlement layer, allowing the 
exchange to still complete high volume, complex transactions at high speed. 
Also, unlike a centralised exchange, Nash will not take control of any of its 
users' assets by leaving control of private keys in the hands of the user. Nash 
also intends to allow licensed businesses across the globe to provide on and 
off ramps for fiat currency ensuring the platform meets the needs of a wide 
range of traders. 
 
The Nash ICO event was hugely successful with more than 17,000 people 
participating. The team have since consistently delivered to their roadmap, and 
the platform launch is scheduled for this quarter. 
 
George McDonaugh, Chief Executive Officer, commented: 
 
"The blockchain space continues to innovate, solve problems and provide the 
products that people want to use, which is crucial for bringing wider adoption 
to the technology. Rlay represents a possible paradigm shift in how we verify 
and understand information and, within the blockchain space alone, the ability 
for smart contracts to verify information could help solve a very significant 
missing piece of the puzzle. Similarly, the trade-off between decentralised 
exchanges being slow and centralised exchanges being untrustworthy has proved 
so far to be a major barrier to adoption. The Nash exchange is breaking new 
ground in solving these issues, and we're proud to have supported them early in 
their journey." 
 
The Directors of the issuer accept responsibility for the contents of this 
announcement. 
 
                                    -ENDS- 
 
Contact Details: 
 
KR1 Plc 
Stephen Corran 
+44 (0)16 2467 6716 
scorran@bridgewaters.co.im 
 
NEX Exchange Corporate Adviser: 
Peterhouse Capital Limited 
Fungai Ndoro and Mark Anwyl 
+44 (0)20 7469 0930 
 
The information contained within this announcement is deemed by the Company to 
constitute inside information as stipulated under the Market Abuse Regulations 
(EU) No. 596/2014 
 
 
 
END 
 

(END) Dow Jones Newswires

January 22, 2019 02:00 ET (07:00 GMT)

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