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SmartUp Launches Its Global Blockchain Incubating Platform

PR Newswire

To tackle the current challenges of financing and resources matching as well as low market transparency, hence providing startups with one-stop incubation service

HONG KONG, May 10, 2018 /PRNewswire/ -- The rise of startups is encouraging more and more passionate entrepreneurs to join the movement. However, nearly 99% of them need to cope with the two major challenges: capital and resources, without which 70% of them would go bankrupt within two years after establishment. Although there are incubators willing to help these startups, the lengthy application process and application barriers are dampening the fast moving startup community and lead to failure due to the matching quality capital and resources efficiently. SmartUp has a solution for this problem.

To tackle the challenges of financing and resources matching and low market transparency, SmartUp, a Hong Kong based blockchain project, is dedicated to building a 24x7 (Anytime, Anywhere, Anyone) global blockchain incubating ecosystem to provide one stop incubating services, including startup supports, business consulting, lead investing and fundraising, as well as business networking, which enable startups to find the most suitable service in response to their needs.

"We hope to connect global projects, investors and co-workers with the revolutionary blockchain technology to build a global smart incubation platform with mutual trust and benefits, providing them with a one-stop incubation ecosystem. Our team consist of talents from global financial market, startups and with solid blockchain development experience, who will enable SMART IDEA to match with quality capital and resources effectively, and ultimately promote the startup development," said Ric Wu, Founder of SmartUp. 

With the adoption of revolutionary blockchain technology, SmartUp's global blockchain incubation platform is more competitive than traditional incubators:

  • Smart Credit Checking: Based on real transaction records, user feedback, as well as third party professional rating, it creates for its project sides, investors, as well as co-workers to form a complete range of smart rating credit check system. It assists investors and their co-workers around the world in analyzing tens of thousands of projects and presents them with valuable reference.

  • Global Resources Matching: SmartUp gathers professionals from different areas of expertise. Projects can match with local and global professionals via SmartUp and enable cross border, seamless and efficient matching.

  • Lead Investment & Global Fundraising: SmartUp team includes talents with global financing, startup and listed company backgrounds and have years of investment experience. Besides lead investment, smart contract splits each project into smaller ones and lowers investment threshold, which in turn attracts more investors.

Mr. Wu continued, "All transactions taking place on SmartUp would be kept on blockchain and could not be modified, while the ecosystem chains are scattered across the whole computer network as computing nodes. No single node (computer) is capable of controlling the data that are protected by consensus algorithms. The platform applies zk-SNARK (zero-knowledge proofs), which will protect investors' privacy. With smart contracts, investors could verify prior investments on specific projects without compromising their identities."

Through smart contracts, a decentralized ledger and digital encryption technologies to connect with global investors and co-workers, project owners not only can use SIT token to settle service fees, but also, compared with traditional funding, SIT token investment could save up to three-quarters of costs. As a globally circulated token, investors can use SIT token for funding, solving issues related to capital and foreign exchanges, which allow investors to invest freely across the world. In the meantime, a smart contract also splits each project into smaller ones, which helps lower investment threshold, which in turn attracts more investors.

Using SIT Token, users could enjoy credit checking service of project owners and their partners. SmartUp would generate income through incubation service, lead investing and funding, market value management and M&A, as well as credit checking.

SmartUp is issuing SIT token to support platform and blockchain development, acquired capital will be used for technological improvement, business expansion, legal matters and general expenses.

About SmartUp

SmartUp is a global blockchain incubating platform connecting enterprises and individuals. It connects diversified types of projects, companies, individuals, and services, as a result of irrefutable, transparent and temper-free features. The platform also provides a comprehensive service for startups through SIT, which would help create a complete credit system. For detailed information, please visit: www.smart-up.co

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