Karuschain Presents MVP in Singapore as LATOKEN IEO Commences

  • The Karuschain platform focuses on the precious metals mining industry, helping companies in the sector improve their operations.
  • The project has also announced that their public IEO has commenced on the LATOKEN exchange.
MineRP's Anton Van Der Walt shaking hands with Karuschain CEO Richard Verkley

MineRP’s Anton Van Der Walt shaking hands with Karuschain CEO Richard Verkley. Karuschain

Karuschain CEO Richard Verkley presented his company’s latest technological advancement in the supply chain management sector at the “Blockchain Impact, 2020 Perspectives” conference in Singapore. The Karuschain platform is aimed specifically at the precious metals mining industry, helping companies in the sector “ensure date integrity, safeguard human rights, reduce risks and improve environmental regulations in their supply chain”.

Along with the release of its minimum viable product, the project has also announced the launch of their public initial exchange offering (IEO) on the LATOKEN exchange, following a successful private sale of 32.5 million KRS tokens, which represent 10% of the total supply. A partnership with mining technology giant MineRP was also announced previously.

The “Blockchain Impact, 2020 Perspectives” event was held at the Fullerton Bay Hotel, where a panel of blockchain enthusiasts discussed the technology’s wide range of applicability in supply chain management. The panel description read:

“Blockchain can be applied to many supply chain challenges across a multitude of industries, such as complicated record keeping, data security, proof or providence and reliable tracking of products. As a fully automated & less corruptible alternative to centralized databases, this panel discusses the many ways in which blockchain can be useful and improve supply chains.”

Karuschain CEO Richard Verkley commented on the impact of blockchain on supply chain:

“With widespread use cases throughout the finance industry, the potential impact of blockchain in supply chain management is among the first true blockchain success stories. And as new use cases are discovered, organizations like healthcare or shipping, or indeed the precious metals mining industry are realizing blockchain’s untapped potential to tackle long-standing issues around efficiency, data integrity, transparency, information sharing and traceability.”

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