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The Charles Yim San Francisco based company announced this week that it has raised a mouth-watering $3 million for the sole goal of opening its much-touted marketplace which will seek to connect blockchain technology with most of the top-tier companies in various industries. Primarily, Cointopia is saying “if you need a blockchain service, we are here”.

cointopia opens blockchain marketplace

The project will provide companies a list of recognised blockchain service providers. It will be detailed enough to give you their PR and marketing, community management, white paper authoring, and advisory of these service providers. This means that chances of more blockchain startups springing up is very high, and with how blockchain seems to go hand in hand with cryptocurrency tokens we may be seeing another avenue for cryptos to ground their foot in the business arena.

The largely unregulated nature of crypto and blockchain at the moment is a core reason for this development by Cointopia. Charles Yim mentioned in an interview he granted VentureBeat that Cointopia was seeking to be “the end-to-end market”.

“The blockchain crypto space is chaotic and globally unregulated…You have onslaught of ICOs, and we are now moving to security tokens. There isn’t a gold standard for this magic to occur. We stepped in to put people together. With us, you put out a bid; someone takes it; you do a review and it goes on the blockchain. We want to be the end-to-end market that is a gold standard.”

Blockchain’s immutability and top security will be Cointopia’s strongest bargaining chips in getting people to believe in the project of theirs and to patronise it. All ratings that customers give of blockchain service providers will be stored on the blockchain just to avoid the altering or corrupting of any. Yim stated that this will in turn give blockchain companies the confidence to operate on the marketplace as they are assured all reviews are genuine and by real customers.

who is on this blockchain marketplace

Who Is On This Blockchain MarketPlace

The initial service companies that will be listed are Token Agency, Sparkchain and Hybrid Block. Director at Sparkchain, Aaron Bensoua, spoke on the development of a marketplace by Cointopia:

“In today’s congested blockchain landscape, founders are faced with an influx of companies providing professional services, many of which are not properly vetted…As a company that is a leader in the blockchain industry, we are excited to have Cointopia list our company as an official vendor on their marketplace and serve projects that are moving the market forward.”

Jeremy Gardner of Ausum Ventures also explained that

“As an investor in new companies in the blockchain space, the Cointopia marketplace helps eliminate the weeding process with a curated selection of diverse service providers and streamline the process of building their projects. It’s reassuring as an investor in early-stage projects to know Cointopia’s service providers have a proven industry track record.”

Users of the marketplace will be able to upload and manage their projects as well as receive bids from different people who want their services. The platform will allow for uploading of Requests for Proposals also.

blockchain believer and breathometer CEO charles yim

About Blockchain Firm Cointopia

Cointopia also functions as a platform for Initial Coin Offerings in the form of a partnership deal. According to Charles Yim the company has access to some 165,000 investors who are accredited. It also has plans for an exchange platform for blockchain trading and expand into South Korea. Yim mentioned that “There are a lot of projects looking for help. There are scammy people out there. I created Cointopia for projects that are real.”

Investors and partners of Cointopia are listed below. Gardner Jeremy, Richard Titus, managing partner at Ark Advisors; Michael Terpin, founder and CEO of the Transform Group; Sonny Singh, chief commercial officer at BitPay; and Mike Costache, founder of Blockchain Investors Consortium, Michael Arrington, founder of TechCrunch and partner at XRP Capital; Mark Pincus, founder and CEO of Zynga; Gil Penchina, angel investor in eBay and Paypal; Roger Lim, founding partner at NeoGlobal Capital.

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Featured Image of Charles Yim courtesy CNBC.

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