MNvest Portal Silicon Prairie Online Goes Live With Blockchain Tech

Categories

silicon-prairie-online Silicon Prairie Portal and Exchange, LLC — DBA Silicon Prairie Online –has been approved by the Minnesota Department of Commerce as the second MNvest portal ready for intrastate equity crowdfunding.

The twist with Silicon Prairie Online is found around the core technology designed on a blockchain, also known as distributed ledger technology.  This allows for advanced functionality between issuers, shareholders, and regulators.

“Our longtail is putting issuers and shareholders on a their own private ledger to facilitate the issuance, voting, communications and ultimate liquidity,” explains creator David Duccini, a local infosec consultant and technologist with prior experience in the banking, insurance, and retail sector.

“We have a very robust yet flexible means for issuers to be in full control of their destiny,” he continues. “Setting minimum and maximum raises is one thing, but to set adjust sizes, for example, and exercise discretion around who your investors are is another.”

Silicon Prarie Online intends to charge a variable issuance fee to generate revenue for itself as well as develop a referral network for successul issues via the portal.

Equity Crowdfunding in Minnesota has followed a nationwide statist movement (alongside federal deregulation) to become legal as of June, 2016.  This means that Minnesota-based companies can crowdfund, either on their own or via portal, up to $2m from Minnesota residents who can invest up to $10k each per issue in exchange for equity, debt, or variance of the two. There has yet to be a single equity crowdfuding campaign launched to date.

Last month, VentureNear became the first state approved crowdfunding portal operator; TECHdotMN has since embarked on standardized documentation to simplify the process and cost for local tech startups seeking to leverage MNvest for their capitalization needs in 2017 and beyond.

“We’ll be a portal from day one,” Duccini says. “…and we’ll also be running our own issue early next year,” he says of what’s next.

RELATED

Equity Crowdfunding In Minnesota aka MNvest Is Finally Real

VentureNear Is The First MNVest Portal Operator For Intrastate Equity Crowdfunding

MNStarter Aims To Be Minnesota’s First Equity Crowdfunding Portal

Comments

  • Kelly Kuhn-Wallace

    Woot! Excited to see a second MNvest portal going live. The blockchain basis gives crowdfunders an additional “currency” option, one that should appeal to early adopters in this space.

    • http://thebigidea.com/ LittleDuke

      The primary goal of the chain is to create a LIQUIDITY option where none has ever existed for small issuers. Our design includes a mobile safe that will facilitate authentic communication between issuer and stakeholders as well as VOTING and a P2P exchange system. More details are forthcoming in our raise disclosures set to be released in late January as part of our offering to demonstrate that the portal is both compliant and viable.

Sponsors