Nubeva’s CBR Project Opens Cyber Security Token (CST) ICO For “Token Network”
Nubeva Technologies Ltd’s CBR Project Pte. Ltd has commenced Pre-Sales of rights to receive, for no additional consideration, future tokens as the initial step of its previously announced planned offering of CST cybersecurity service tokens.
The Token Offering will be undertaken in order to develop a best-of-breed cloud-based security network using Nubeva's Blockchain Routing IP platform to enable a broad consumer base to purchase these cloud-based security services (the “Token Network”).
Nubeva has incorporated CBR Project, located in Singapore, to establish the Token Network and issue Cybersecurity Service Tokens. The use of proceeds of the Pre-Sales will be used to fund costs associated with the Token Offering to enable the CBR Project to fund its purchase from Nubeva a limited purpose open-source license for its Blockchain Routing IP software and to complete development of the Token Network. Nubeva made their Blockchain routing IP software available in April 2018, in connection with the development of the Token Network.
Nubeva CEO Randy Chou said due to strong interest, the company decided to proceed beyond the initial phase of raising US $3 million and commenced its second phase leading up to the Token Offering.
Speaking from the Korean Blockchain Summit in Seoul where the CBR project received standout recognition, Chief Marketing Officer, Steve Perkins, stated:
“We are enthusiastic about the Token Network's potential to provide an important cybersecurity technology and cybersecurity consumption and distribution model to meet market demand outside of North America for cyber security securities. “By combining Nubeva's Stratus Edge Security Platform with the Token Network, we believe we will be able to provide enterprises with a means to run best-of breed security in the public cloud while simultaneously enabling access to, and application of security services in a frictionless and economic manner. The Token Network gives us the potential to bring this capability to a wider market outside of North America where we believe there is significant unmet demand.”