ConsenSys

ConsenSys is a blockchain software technology company founded by Joseph Lubin with headquarters in Brooklyn and additional United States offices in Washington, DC and San Francisco.

ConsenSys Inc.
Corporation
IndustryBlockchain software
FoundedOctober 2014[1]
FoundersJoseph Lubin
Headquarters
New York City
,
United States
Number of employees
900+ (2019)
Websiteconsensys.net

Company

Joseph Lubin founded ConsenSys in early 2015 as a software foundry to develop decentralized software services and applications that operate on the Ethereum blockchain.[2][3] On October 31st, 2018, ConsenSys acquired Planetary Resources, an asteroid mining company.[4] In December 2018, ConsenSys announced a restructuring with projected layoffs of thirteen percent of its staff.[5]

Projects

ConsenSys is involved in multiple projects and initiatives for blockchain uses and applications.

  • Meridio is a platform to create, manage, and trade fractional ownership shares in real estate assets.[6]
  • Ether.camp is an Ethereum blockchain explorer.
  • Blockapps Strato is a partnership with Microsoft Azure to build industry-specific blockchain (database) applications.[7][8]
  • TransActive Grid is a joint venture with LO3 Energy which proposes to allow peer-to-peer electricity sales[9]
  • Ujo Music.[10] Imogen Heap used the technology to release her single Tiny Human.[10]
  • DAOWars is a project where human players design autonomous agents to outfight and outwit other agents created by competitors[8]
  • GroupGnosis is a platform for prediction markets[8]
  • EtherSign is a cryptographic tool for managing and signing documents[8]
  • Blockstack Labs is a project with Microsoft to address human rights issues by creating identity systems on the blockchain.[11]

ICOs

Several ConsenSys companies and projects raised capital from the public in the form of Initial Coin Offerings (ICOs).

  • Gnosis, a ConsenSys-backed prediction market project sold GNO tokens to the public in an ICO in April 2017. The company raised $12.5 million at $300 million valuation, completing its ICO in under 12 minutes. The valuation was criticized by several prominent members of the community.
  • Grid+, a ConsenSys company in the electricity distribution niche sold GRID tokens to the public in an ICO in September 2017. The company raised $29 million in the public token sale.[12][13]
  • Civil Media, a ConsenSys-backed company that claims to use cryptocurrency to save journalism sold CVL tokens to the public in an ICO in October 2018. Civil was able to raise $1.8 million, less than the $8 million soft cap.[14] It was later revealed that ConsenSys was the largest buyer of CVL tokens, buying 80% of the CVL tokens that went on sale. Civil plans for another ICO down the road.[15]

References
  1. "About us". ConsenSys. Archived from the original on 2018-01-16. Retrieved 2018-01-16.
  2. Tapscott, Don; Tapscott, Alex (May 2016). The Blockchain Revolution: How the Technology Behind Bitcoin is Changing Money, Business, and the World. pp. 87–93, 112–114. ISBN 978-0670069972.
  3. Popper, Nathaniel (2016-03-27). "Ethereum, a Virtual Currency, Enables Transactions That Rival Bitcoin's". New York Times. Retrieved 2016-05-11.
  4. "ConsenSys Acquires Planetary Resources". Planetary Resources. 31 October 2018. Retrieved 31 October 2018.
  5. Kauflin, Jeff. "Cryptopia In Crisis: Joe Lubin's Ethereum Experiment Is A Mess. How Long Will He Prop It Up?". Forbes. Retrieved 2018-12-06.
  6. "A Blockchain Building in Bushwick". Retrieved 2018-09-14.
  7. Rosenbush, Steve (2015-11-11). "The Morning Download: Microsoft Offers Blockchain Over Its Azure Cloud". Wall Street Journal. Retrieved 2016-05-11.
  8. Shieber, Jonathan (2015-10-28). "Microsoft Partners With ConsenSys To Use Ethereum To Provide Blockchain-As-A-Service". TechCrunch. Retrieved 2016-05-11.
  9. Rutkin, Aviva (2 March 2016). "Blockchain-based microgrid gives power to consumers in New York". New Scientist. Reed Business Information. Retrieved 24 March 2016.
  10. Allison, Ian (4 October 2015). "Imogen Heap shows how smart music contracts work using Ethereum". International Business Times. Retrieved 24 March 2016.
  11. Ian Allison (2016-05-31). "ConsenSys and Microsoft tackle human rights abuses with blockchain-based identity system". International Business Times.
  12. "Blockchain startup Grid+ halts pre-sale of tokens after staggering demand - Technical.ly Brooklyn". Technical.ly Brooklyn. 2017-09-12. Retrieved 2018-11-18.
  13. "Grid+ Raises $29 Million as Blockchain Fever Grows". Retrieved 2018-11-18.
  14. "Blockchain media startup Civil is issuing full refunds to all buyers of its cryptocurrency". TechCrunch. Retrieved 2019-06-26.
  15. "ConsenSys bought most of the CVL tokens in Civil Media's disappointing ICO — Quartz". qz.com. Retrieved 2018-11-18.
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