Cryptocurrency Lender Dharma to Postpone Accepting New Deposits and Loans

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Ocean Tomo and Ocean Tomo China has interest from buyers seeking to purchase patents related to artificial intelligence (AI) technology.

San Francisco-based crypto lender Dharma has decided to pause new deposits and loans on its platform. 

Dharma announced their decision in a series of official Twitter posts on Aug. 7. Their second tweet in the series reads:

“For now, we’re pausing new deposits and loans in Dharma. If you have an existing deposit or loan with Dharma, you’ll still be able to access your account and will have the option to withdraw any funds that are not currently locked up.”

While not appearing to offer any further details, Dharma assured the public in the rest of their posts that they were “hard at work” and that the “next chapter of this story is going to be exciting.”

The launch of Dharma

Dharma is a relatively young company. In February, the firm raised $7 million from investors such as Coinbase Ventures. The Block Crypto additionally specified that the funds would go toward Lever, it’s platform designed to support instant margin loans for crypto traders and high-volume investors.

The head of the Dharma Labs’ marketing team, Max Bronstein, reportedly the claimed advantages of Lever as follows:

“Investors can take out loans against a number of different assets in sheer minutes, counter-party risk can be eliminated by smart contracts, borrowers can freely move their principal anywhere they’d like, and most importantly, all of this can be done at almost half of the cost offered by traditional lenders.”

As previously reported by Cointelegraph, Dharma launched its public-facing lending service in April. In the announcement, Dharma said that its service was compatible with any wallet, but that only Ether (ETH) and the stablecoin DAI were currently available. At the end of May, Dharma announced that it added support for the dollar-backed stablecoin USDC.

CHICAGO, Aug. 7, 2019 /PRNewswire-PRWeb/ — Ocean Tomo and Ocean Tomo China are actively seeking patents and other intangible assets related to artificial intelligence (AI) technology. The Ocean Tomo Private Acquisitions team has multiple buyers with immediate interest in patents related to artificial intelligence (AI) natural language processing and machine learning.

Ocean Tomo and Ocean Tomo China buyers are specifically interested in computer vision applications including security systems, traffic/automotive management, facial/expression recognition and object identification. Clients are also interested in applications related to voice recognition/generation.

Of interest to Ocean Tomo clients are patents within the following jurisdictions US, China, India and Europe.

Patent owners interested in submitting patents for sale as part of this call for technology related to artificial intelligence, can submit them here or to Layna Guo at Transactions@OceanTomo.com.    

About Ocean Tomo

Ocean Tomo, the Intellectual Capital Merchant Bank® firm, provides companies with financial services related to intellectual property and intangible assets including financial expert testimony, valuation, strategy consulting, investment advisory, innovation management consulting and transaction brokerage.

Our Opinion, Management, and Advisory Services are built upon more than three decades of experience valuing intellectual property in the most rigorous of venues – State, Federal and international courts. Our financial, market and technical experts provide a unique understanding of the contributory value of proprietary innovation. This is the cornerstone of our business. This insight permeates every practice.

Subsidiaries of Ocean Tomo include Ocean Tomo Investment Group, LLC, a licensed broker-dealer under Federal and State securities law (brokercheck.finra.org Broker Check CRD #: 172912) and Ocean Tomo Hong Kong Ltd., dba, Ocean Tomo China, a joint venture between Ocean Tomo and Sinofaith IP Group.

Source: CoinTelegraph