According to a statement shared with Cryptovest, Enecuum and iCapital have announced their plans to establish a strategic partnership. The statement notes that the cooperation is on a long-term basis. Enecuum is a Hong Kong based digital ledger technology platform providing “mobile mining.” On the other hand, iCapital is an Israeli fund management platform that has worldwide interest in projects.
The fund management firm has a strict framework which it follows in the process of identifying potential business partners. In this case, iCapital stated that it conducted an exhaustive due diligence process that was based on three aspects. Respectively, the fund manager assessed the team at Enecuum to find out its effectiveness while at the same time analysing its business model. The firm was also interested in the technology of the blockchain platform. In the statement, the signed MoU outlined the satisfaction of the fund manager which later informed their decision to assent the deal.
As per the MoU, iCapital’s general manager was added to the list of Enecuum’s founding partners. In that capacity, she will be responsible for the new projects.
Despite the promises of the blockchain technology, there are still a number of hitches that most platforms have no come around. These include scalability, security and the speed of transactions. Some blockchain networks have platforms that cannot be manipulated to suit the specific needs of a developer. While others may have done a good job on speed, security is still a gaping hole in their woodwork. In contrast, these are the strengths of Enecuum as its platform applies a “hybrid system involving mobile mining and a unique data structure that creates a synergy between directed acyclic graphs and traditional blockchains.”
On its part, Enecuum expressed “deep gratitude to the iCapital team for their high level of appreciation and trust in our product.” The management of the blockchain platform hopes to utilize the finances to expedite its plans to begin selling tokens and other digital assets. This is in recognition of the rising importance of the assets to asset managers. “Blockchain is an entirely new class of assets and it is gaining increasing popularity among funds and individuals who seek to diversify their portfolios,” said Mikhail Saifullin, co-founder and CEO of Enecuum.