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Israeli Billionaire Invests In Ukrainian Blockchain Startup

00:14 08/08/2018

Israeli billionaire Teddy Sagi invested in a new decentralized startup Distributed Lab, launched by a team from Ukraine. The businessman refused to disclose the amount of money invested, but the Ukrainian side promised to provide the details on the partnership later, Forklog reports.


The Distributed Lab team develops a TokenD framework, allowing to tokenize real assets. Thus, fiat money or any other asset will get a digital copy on blockchain. Transforming traditional assets into digital will facilitate the storage and transfer of funds, as well as enhance the security of operations. Users of Distributed Lab will be able to conclude contracts, conduct financial audits and manage assets collectively.


Teddy Sagi (Photo: Forbes Israel)


The startup should reduce risks when creating and integrating digital assets, and also speed up their entering the market. As developers say, the platform will take only a few seconds for calculation. Moreover, a tokenized asset will cost more than its physical equivalent, since it can contain more information.


Teddy Sagi is a businessman and serial entrepreneur, who acquired IT companies SafeCharge and Crossrider and held their IPO at the London Stock Exchange. According to Forbes, Sagi is among the top 10 richest people in Israel. His fortune is estimated at $3.3 billion. In 1999, Sagi founded Playtech, the company which develops software for online casinos, sports betting and other gambling activities.


The concept of tokenization has come to blockchain from the field of security management. As previously reported, secure digital payments are the priority of tokeconomics, the economy of tokens.

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