Israeli Billionaire Teddy Sagi Invests into Distributed Lab Blockchain Company
Teddy Sagi Invests In Blockchain Company
Teddy Sagi, an Israeli businessman, owner of London’s Camden Market, and billionaire, recently invested in a blockchain startup called Distributed Lab.
Vladimir Dubinin, Distributed Lab’s CEO, confirmed the investment. But he did not divulge the details. Rather, he promised to make an upcoming announcement. The platform uses blockchain technology to promote a more efficient trading system. The efficiency is due to the representation of assets as tokens. The platform mainly provides services to companies looking to maintain higher asset liquidity. Additionally, the platform has developed enterprise tokenization platforms for industries such as investment funds, real estate, crowdfunding, and remittance.
A few of the platform’s main projects, which can be viewed on the platform’s website, include gold and silver-backed token BullionCoin, blockchain-based investment marketplace Swarm, auction network Shelf, and wallet exchange Bitxfy. The platform’s founder, Pavel Kravchenko stated that the platform’s mission is to “build [a] financial internet -w hen every accounting system in the world will be able to transact with each other freely.” Kravchenko also mentioned in a ForkLog interview in 2017 that even with an initial coin offering, blockchain startups are still not viable products.
It is expected that Sagi’s investment will be a game changer. The businessman, originally from Tel Aviv, is one of the country’s most affluent investors. He amassed his billion-dollar fortune by investing in real estate, gambling software, payment processing, and advertising. He also founded Playtech. Sagi is also well-known in England for purchasing Camden Market, an iconic market in London.
Sagi is not the only investor turning to cryptocurrency. According to research conducted this year, over 61 percent of cryptocurrency investment funds had been created in 2018. Further, various private entities are offering crypto management services due to increasing demand from clients.