CARLSBAD, CA / ACCESSWIRE / March 28, 2024 / True I/O, a blockchain platform company under the Dealbox Ventures portfolio, has announced the appointment of Vincent Maher as its new CEO, in a bid to further solidify its position in the Real World Asset (RWA) tokenization market. This move comes amidst growing demand for RWA tokenization and the increasing need for transparency and efficiency in the financial sector. With Maher's extensive experience in the African mobile industry, True I/O has the potential to become a notable player in the blockchain sector.
Dealbox Ventures, which focuses on tokenized venture capital investments, facilitated True I/O's Series A funding round. True I/O raised $9 million in 2022, and the successful funding round reflects confidence in True I/O's strategic direction and technological capabilities. Thomas Carter, founder of Dealbox Ventures, praised True I/O, saying, "We are thrilled to have True I/O in our portfolio. We know that Vincent's leadership will contribute significantly to True I/O's direction. The company represents a pivotal part of our strategy to advance blockchain technology applications."
The sector of RWA tokenization has gained increased attention, partly due to BlackRock's recent announcement of a $100 million fund to explore tokenized assets on the Ethereum network. This move by a major asset management firm is indicative of the growing interest in blockchain as a tool for financial innovation and asset management.
"Integrating blockchain with real-world assets and tokenizing devices for security in mobile payments and supply chain security can exponentially improve how assets are managed and accessed," said Vincent Maher, True I/O's new leader in this effort. "Our unique approach to this field means that we are well-positioned to capitalize on this opportunity and drive growth in the market."
True I/O's unique take on RWA tokenization involves tokenizing physical assets like IoT devices for security. They seek to make the process of tokenization secure and efficient, providing a reliable and trustworthy solution for users. This approach is particularly relevant as the number of IoT devices continues to grow, and security concerns around these devices become more prevalent.
One of their initiatives involves collaborating with the Telecommunications Industry Association (TIA) to enhance telecommunications security through blockchain technology. Specifically, they are working on developing electronic Mobile Equipment Identifiers (MEIDs) through this collaboration.
Maher's appointment is a deliberate move to expand their reach in Africa's rapidly growing digital market, especially in the dominant mobile payments market. Maher has considerable experience at mobile operators like Vodacom, broadcasters like MultiChoice Group, social network Mxit, and social platform startup Motribe, which adds a wealth of expertise to True I/O's team.
The company has recently partnered with Digital Solutions Group, which will serve as a reseller and development partner, to extend its reach within Europe, the Middle East, and Africa. With this partnership and Maher's experience, True I/O plans to develop globally relevant blockchain solutions and make a significant impact on the African digital market.
About True I/O https://www.trueio.io/
True I/O is a company focused on developing the foundational elements of truth for the token economy. The team believes in the potential of tokenization and the notable potential it holds for shaping the future of trust. The company's vision is to enable the tokenization of billions of devices and assets, creating an ecosystem of digital trust between market participants. The goal is to create a future where trust and security are the norms, so that individuals and businesses can benefit from the vast potential of tokenization.
About Deal Box https://www.dealbox.io/
Deal Box is a digital assets platform transforming venture investments. Since 2017, Deal Box has rigorously vetted and digitized over $250M of assets, embedding transparency and compliance into thousands of venture transactions. Capital markets leader Thomas Carter laid the groundwork of what would eventually become Deal Box in Carlsbad, California, in 2005. Since then, the company's mission has grown into a leading global operation dedicated to unique value creation for issuers and investors. From deal structuring to digitizing company shares, Deal Box manages the entire asset lifecycle to deliver investors a secure and seamless ownership experience. In addition to its digital assets platform, Deal Box provides comprehensive capital advisory services through Investment Packaging™.
About Digital Solutions Group (DSG) https://dsg.co.za/
With a track record spanning more than two decades, DSG has become one of South Africa's leading providers of on-demand customer experience and digital solutions, serving some of South Africa's premier consumer-facing and corporate brands. DSG consolidates leading-edge digital solutions and information technologies that deliver measurable results in an always-connected digital landscape, and is an award-winning, internationally acclaimed digital solutions and technology service provider. The company offers Integrated CX Strategy, Business and Technology, Consulting, Systems Integration, Digital Transformation, Service Design/UX, Data/Analytics, AI, MVNO partners' business and Digital Resilience, and works through collaborative client partnerships. DSG builds comprehensive solutions to forge strong business relationships and yield a mutual return on investment. The company's multifaceted suite of customer-centric digital solutions builds successful brands by delivering best-in-class integrated customer experiences.
Contact:
Vincent Maher
vincent@trueio.io or +27 82 998 5412
SOURCE: True I/O
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