Karuschain Announces Impressive Blockchain MVP for The Precious Metals Supply Chain & New Company CEO in Singapore

Karuschain revealed and presented the first MVP for its enterprise blockchain solution for the precious metals mining supply chain Karuschain SecureCapture. This key milestone in the company’s roadmap was revealed at Blockchain Impact, 2020 Perspectives in Singapore, a prestigious event for high net worth investors, funds and blockchain enthusiasts.

Karuschain Founder & Chairman Richard Verkley says, “Karuschain SecureCapture will function as the secure data flow to the Karuschain platform. By integrating Karuschain SecureCapture into the mine operation tech ecosystem Karuschain technology will capture data across selected databases and provide data immutability. Data immutability will ensure that even system administrators will not be able to change data retrospectively in order to commit data fraud. It will act as the first step to securing provenance and solving the long-standing issues around efficiency, data integrity, transparency, information sharing and traceability for miners and others throughout the precious metals supply chain.”

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In addition to this, Karuschain also revealed it has hired a new CEO and welcomes Ryan Steil to the team. Ryan is a leader in digital transformation with more than 20 years building and supporting technology initiatives within Oil & Gas, Mining, Engineering and Manufacturing organizations. Prior to joining Karuschain, Ryan was most recently an Associate Partner with IBM Canada where he worked with Enterprise organizations to manage their strategic investment in technology. In response to the announcement Ryan says, “I am driven to continue to lead the development of solutions that increase the transparency of data and the efficiency of the organizations. Karuschain’s enterprise blockchain solution does just that. I’m very excited to be joining such a well-equipped and experienced team and continue to drive success to an industry with a very real need and desire for technological innovation.”

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The news comes soon after the company disclosed the enormous success of its first private sale, whereby 32.5 million KRS tokens, 10% of the total token allocation earmarked for the sale, were sold out. In fact, demand was so great that the final private sale token allocation and sale superseded the original allocation by more than 30%. Karuschain is now moving into the next stage of funding alongside further product development.

Karuschain is a blockchain technology platform for the precious metals mining industry, giving mining companies a powerful tool to ensure data integrity, safeguard human rights, reduce risks and improve environmental regulations in their supply chain.

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