Exclusive: Simon Grunfeld Joins Blockchain Conglomerate

Finance Magnates learned on Thursday that Simon Grunfeld has joined Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term conglomerate Daollar Group.

Speaking to Finance Magnates, the founder of cryptocurrency solutions provider Ibinex said he had sold his former firm to a family office based in Israel.

“In 2017, the bull market meant I had a huge number of offers [to acquire Ibinex] coming in,” said Grunfeld.

“Ultimately I was connected with a group of individuals in Israel, who had already been successful in the financial services industry, and I sold Ibinex to them in January of 2018.”

After selling the firm, Grunfeld stayed with Ibinex for another year in a directorship role.

The crypto executive noted that he chose to sell the firm to the Israeli family office because of their successful prior work in the capital markets.

Catering to US retail clients

Having left Ibinex, Grunfeld is now SVP of business operations at Daollar Group.

A US-based start-up, the firm has already been active in Asia for over a year and plans to start working with American clients in the near future.

Regulated by US authorities, the company's main offering is cryptocurrency exchange platforms and technology.

“We’re going to be catering to US retail and institutional clients,” said Grunfeld. “There are a limited number of competitive offerings here and we can definitely compete with them.”

On top of its exchange offering, Grunfeld told Finance Magnates that Daollar group is developing a number of other blockchain-based products.

Some of those are, according to Grunfeld, still in ‘stealth mode’ but will be launched soon.

The majority of them are related to e-commerce and Tokenization Tokenization Tokenization represents the process of substituting a sensitive data element with a non-sensitive equivalent, i.e. token, which bears no extrinsic or exploitable meaning or value. In essence, the rights to the ownership of an asset are converted into a digital token. Tokenization can be used to own an entire unit of an asset. For example, one token that represents the ownership of a piece of real estate or to split ownership of a single unity of an asset such as 200,000 tokens, each one represen Tokenization represents the process of substituting a sensitive data element with a non-sensitive equivalent, i.e. token, which bears no extrinsic or exploitable meaning or value. In essence, the rights to the ownership of an asset are converted into a digital token. Tokenization can be used to own an entire unit of an asset. For example, one token that represents the ownership of a piece of real estate or to split ownership of a single unity of an asset such as 200,000 tokens, each one represen Read this Term.

“We can tokenize any asset across the board,” said Grunfeld. ”Whether it’s illiquid assets like real estate or ‘regular’ financial instruments, like stocks or bonds.”