- Chapmans has appointed Alex Taylor to its Blockchain Industry Advisory Board
- Blockchain is an emerging technology that underpins cryptocurrencies such as Bitcoin
- Mr Taylor is a leading expert in blockchain technology and co-founder of BitPOS, an Australian provider of bitcoin merchant services including ATMs
- Chapmans made its first strategic investment into blockchain in December 2017 when it became the largest shareholder in REFFIND Limited
- Chapmans appointed blockchain expert Mike Cohen as its first Blockchain Industry Advisor in December 2017
Mr Taylor is currently Senior Manager of Disruptive Strategy at Insurance Australia Group (ASX:IAG). He has been involved in the blockchain industry since its inception and is the co-founder of BitPOS, an Australian provider of bitcoin merchant services including ATMs.
In his role at BitPOS, Mr Taylor has provided consultancy to state and federal law enforcement and corporate regulators and was involved in the establishment of legal precedent for the operation of blockchain and digital currency operations in Australia. He has a background in both startup and large-corporate technical solution delivery and has navigated the technology acquisitions and due diligence process for a number of entities.
Blockchain is a digitised, decentralised public ledger of all cryptocurrency transations. It is the technology that underpins cryptocurrencies such as Bitcoin, Ethereum and Ripple, which have all surged in value in the last year and are currently the top three cryptocurrenicies by market capitalisation. The price of Bitcoin increased roughly 1,600% in the last year. Ethereum and Ripple are up approximately 12,000% and 54,000% respectively.
The intense interest and investment in blockchain is quickly establishing it as a significant technology movement that will revolutionise a wide-range of industries including banking and professional services, trading markets, supply chains, identification, data management and even politics.
Chapmans made its first strategic investment into blockchain in December 2017 through a $1 million participation in REFFIND Limited's (ASX:RFN) ("REFFIND") share placement. REFFIND's exposure to blockchain is through its investment in Loyyal Corporation ("Loyyal"), a blockchain-based global leader in the loyalty and rewards industry. REFFIND now has exclusive rights to Loyyal's technology platform and product offering in the Asia-Pacific region. Chapmans is REFFIND's largest shareholder as of December 2017 with holdings totalling 9.33%.
Chapmans established its Blockchain Industry Advisory Board in December 2017 when it appointed Mike Cohen as Blockchain Industry Advisor. The Blockchain Industry Advisory Board employs its technical, commercial and regulatory expertise to identify and assess compelling blockchain investment opportunities. The Company sees investment in blockchain technology as in keeping with its growth plans and commitment to investing in early stage technologies with reach into key international markets.
Chapmans has a strong and expanding pipeline of global blockchain investment opportunities that it is currently assessing as part of its high conviction investment approach.
Chapmans' Blockchain Industry Advisor Alex Taylor: "I am excited to be joining Mike Cohen on Chapmans' Blockchain Advisory Board. Operating in both the technical and business development sectors has given me a unique insight into the value delivered by blockchain-based enterprises and will allow me to assist Chapmans in making informed blockchain investment decisions."
Chapmans' Executive Chairman Peter Dykes: "We are very pleased to be bolstering our newly established Blockchain Industry Advisory Board with the addition of Alex Taylor. Mr Taylor brings a wealth of expertise to the table with his extensive background in finance and telecommunications system architecture and the integration of blockchain into existing business processes. We are looking forward to having him advise us on future blockchain-based investment opportunities."
BitPOS is a digital currency merchant services provider, allowing merchants to accept Bitcoin and other digital currencies as a form of payment for their products and services, both for in-person transactions (restaurants, bars, clubs), and invoice-style transactions (largely, gold and precious metals). In addition, BitPOS has created the world's only end-to-end digital currency ATM solution, allowing the placement of retail-setting ATMs allowing digital currency purchase whilst maintaining world-class safety and security of digital funds. As the only provider of digital currency merchant services in Australia, BitPOS seeks to provide our merchant and their customers with a low-friction experience whilst exposing them to a new asset class and form of payment.
About Chapmans Limited
Chapmans Limited (ASX:CHP) is an ASX listed diversified investment company engaged in special situation investments across a diverse range of industries, with a focus and expertise in the mobile and advanced industrial technology sectors. It seeks to be an active strategic investor in high growth areas of the market, and to identify and work with emerging high growth companies.
The Company's investment philosophy and approach are based on a unique mix of high conviction and special situation features, characterised by advisory and equity investments structured around specific events and assets for both public and large private corporates.
Insurance Australia Group Limited