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# BitSpace AS / Quarterly Update / Oslo, Norway September 30th 2019
Following a productive second quarter in 2019 BitSpace has continued to build with a strong focus towards internal company development, regulatory requirements for our businesses and growing our investor network.
As we look forward into 2020 we will continue to position ourselves as leading Blockchain architects within the Nordics and open up new investment opportunities for our portfolio of Blockchain related companies.
Please see below for a progress report covering the third quarter of 2019.
## BitSpace AS Company Development
**Raymond Øverlie joins the BitSpace team as Investment Strategist and Partner.** Raymond has 20+ years of experience from the financial markets and as an investor he has been founding partner of several startups. Through his work he has earned unique experience in different fields as Partner, Chairman, board member, FX, stocks and derivatives trader, CEO and CFO. He has a background from the Norwegian School of Economics and Harvard Business School.
**BitSpace welcomes Lasse Melholm from Finansit AS to the BitSpace Advisory Board.** Lasse has worked in the finance and securities market since 1986. Based on a background in IT and finance, he worked for 4 years in PWC before starting Tazett. He sold Tazett in 2000 and started FinanceCube in 2002, a cloud-based service for financial advisors and private banking, the first in Europe. Lasse authored the bestseller “Investment Guide” published on Hegnar Media in 2004. FinanceCube was sold in 2012, and since 2013, Lasse has been working in banks, within IT strategy, digital banking, Blockchain and Fintech companies as the area of work. Lasse is now CEO and founder of Finansit, a consulting company focusing on Blockchain/DLT strategy, Fintech/startups and a frequently used keynote speaker.
**BitSpace welcomes David Frew from Whitebridge to the BitSpace Advisory Board.** With over 25 years of international sales and business development experience with proven results, David is passionate about sales skills, sales excellence, and helping others achieve their sales-related goals: increasing revenue, more quickly, more profitably. David began coaching and mentoring in the early 2000s.
**BitSpace welcomes new board member Nazaré Lillebø.** Nazaré is an architect with 20+ years of experience and is actively involved in the FinTech space. Passionate about innovation, synergy and efficiency. With an MBA degree in Ecological Economics she has pursued emerging technology and its role within the global economy.
## Graphchain AS
**Graphchain AS is a Norwegian company established as a joint venture between BitSpace AS and NTNU TTO in June 2019.** Graphchain is now the first commercialized Blockchain project to emerge out of NTNU.
Graphchain pioneered the use of DAGs to DLT and was the first academic work to suggest replacing the blockchain with a directed acyclic graph structure. Christopher Carr, PhD student at NTNU, was working with famous cryptographer Xavier Boyen, and fellow PhD student Thomas Haines, to simultaneously alleviate the scalability issue whilst allowing for a greater improvement of decentralisation. The research first appeared on the International Association of Cryptologic Research in 2016 and to date Graphchain is the only DAG-technology system based on peer-reviewed academic publications.
Graphchain offers the potential of value generation across all industries, and has the potential to both disrupt existing markets and make new markets, products and services along the way.
The Graphchain team is expanding rapidly and key team and advisory positions are being filled. If you want to be involved, or know someone who might, please get in touch at contact@bitspace.no.
## BitGate AS
The BitGate Wallet application is complete. The BitGate team is working closely with compliance partners at DLA Piper and awaiting regulatory licensing from Finanstilsynet (The Norwegian Financial authorities) before the product is launched and made available for the public.
BitGate is in discussions with potential partners both domestically and internationally. More information will be announced over the next quarter.
During this period a round of investment will be open for our investor network. If you are interested in finding out more information please contact us at contact@bitspace.no
## Public Events and Conferences
BitSpace will be hosting a Digital Asset Trading event in association with CryptoFinance during the fourth quarter of 2019. More information will be announced on our channels during the coming month.
BitSpace will also be organising a Blockchain & Artificial Intelligence track at the AIM North Symposium conference. The event will take place at the Oslo Metropolitan University on the 7th November.
Please see online for further information: https://aim2north.com/AIM
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# BitSpace
*Founded in 2015, BitSpace is a Norwegian Incubator specialising in Blockchain & Digital Finance. Our companies range from digital wallets, cryptocurrency exchange platforms, scalable DLT technology, and identity solutions for logistics.*
## 「Links」
[Website](https://www.bitspace.no)
[Twitter](https://twitter.com/bitspacenetwork)
[Telegram](https://t.me/BitSpaceNetwork)
[Facebook](https://www.facebook.com/bitspace.no)
[YouTube](https://www.youtube.com/BitSpace)
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