Pendulum28 Aug 2021 11:20
The success of Pensulum of obviously key to Satoshipay progressing as we would like. Having read all updates and available news flow it is still sketchy as to what the timelines will be.
'Stellar Development Foundation has granted SatoshiPay initial funding to kickstart the project and develop a proof of concept implementation of Pendulum. After completing the initial proof of concept, Pendulum will be further developed into a full-fledged decentralized layer 2 blockchain that will be accessible for everyone.'
TF has recently commented on ADVFN (i think some posts now deleted??) the following:
1. 'SatoshiPay is valued in Blue's books at around £17m. Once Pendulum is launched SatoshiPay will have access to the funds raised by Pendulum at no cost to SatoshiPay/Blue. This is great news and will allow SatoshiPay to build its B2B cross border payments business. it is my belief that SatoshiPay will attract interest from a large financial services business and I thereby prove itself an excellent investment for Blue on exit.'
2. 'the summer months are always slow for raising funds and Meinhard was unwell for 3 weeks. I am very confident Pendulum will close in September.'
I cannot find any further information regarding a Pendumlum fund raise. I assume this would be on successful completion of it's initial development. TF is hinting this will be in Sept. Obviously a well subscribed Pendulum raise would be hugely beneficial to Bluestar.
As far as i'm aware this fundraise has never been mentioned in any official BlueStar or Satoshipay newsflow! What is the official line on this???????
Any further info greatly appreciated.
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