Software Company Ciphrex Scores $500K in Fully Subscribed Series A Stock Issue

Ciphrex-web-slider-5Ciphrex Corp , a software company in the emerging field of cryptocurrency and blockchain technologies, announced it has completed the sale of its Series A stock offering. The company, based in San Diego, was co-founded by Eric Lombrozo and Enrique Lombrozo just over a year ago. Its product line includes mSIGNA and CoinSocket.

mSIGNA is a multi-signature Bitcoin wallet application offering an easy-to-use wallet for individuals and an enterprise-grade foundation for applications. CoinSocket is an application development platform built over Ciphrex’s core technology that provides easy-to-deploy services, allowing secure management of multi-signature accounts at the enterprise level. Enrique explained, “We are glad to announce we’ve met our goal of raising half-a-million dollars in this initial round. These funds will allow us to further advance, promote and expand our line of products.”

Eric LombrozoAlso sharing details about the company’s platform, which allows users to develop and implement comprehensive security policies, Eric noted, “Security is the primary consideration for financial transactions. Ciphrex’s platform provides a general multi-signature account management architecture supporting Bitcoin and other alt coins. Accounts and security policies can be configured and deployed incrementally and independently from application logic. Signing can be coordinated between multiple devices subject to custom rules.”

The Ethereum Project, a forward-thinking cryptocurrency concept, served as a ground-breaking case study in crypto coin security and account management. Ethereum needed a secure solution for storing bitcoins raised in their crowdsale. They hired independent cryptocurrency software experts to review various options and settled on Ciphrex’s multisignature solution as the platform upon which to build. Ciphrex teamed up with Michael Perklin of Bitcoinsultants to create a comprehensive solution including hardware, software, policies, procedures, and training of personnel.

Michael PerklinEric, along with Michael Perklin will be featured speakers at The North American Bitcoin Conference in Miami this weekend. Their talk – Securing the Ethereum crowdsale – will describe how Ciphrex’s wallet mSIGNA was selected by the Ethereum project for its crowdfunding campaign, after a rigorous peer-review process. They will relate their experience in putting this project together, what they learned, and how others can apply some of these ideas to their own projects with open source, off-the-shelf components. Their presentation will take place at the Fillmore Theatre in Miami Beach on Saturday (January 17th).


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