THIS RELEASE OF NEWS IS INTENDED FOR EXCLUSIVELY FOR DISTRIBUTION IN CANADA AND IS NOT FOR DISTRIBUTION IN THE UNITED STATES SERVICES NEWSWIRE OR RELEASE, PUBLICATION OR DISSEMINATION, EVERYTHING OR IN PART, IN THE UNITED STATES OR THE UNITED STATES.
TORONTO, 12 June 2018 (GLOBE NEWSWIRE) – Blockchain Foundry Inc. ("BCF" or "Company") (CSE: BCFN) is pleased to provide a business update on its activities and on the new developments of its main applications.
- Immediate release of Blockmarket Desktop 3.0, BCF's flagship e-commerce platform and the world's first decentralized marketplace.
- Appointment of Earl Flormata as Chief Marketing Officer, responsible for the Company's global marketing and branding strategy.
- Creation of a dedicated team within the Company to start the implementation of blockchain consulting opportunities, with specific projects to be announced shortly.
- Successful launch of the next-generation Syscoin 3.0 blockchain protocol, which integrates resources, masternodes and instant transaction capabilities.
- First Syscoin asset, CPS Coin, developed by CoinPayments Inc. ("CoinPayments"), a cryptocurrency payment processor with over 1.6 million supplier accounts and over 1 million active users, to be launched on 1 July 2018 .
- Establish a new foundation in collaboration with the Syscoin community in order to oversee the development and scalability of the public blockchain protocol.
"We are excited about the development of several key milestones for Blockchain Foundry and believe that Syscoin 3.0 is ready to revolutionize the crowdfunding and blockchain applications industry.Our version of the next version of Blockmarket will help us to become a formidable competitor for other important protocols blockchain and also for the incumbent blockchain developers, "said Dan Wasyluk, President and Chief Executive Officer of Blockchain Foundry.
No later than 28 June 2018, the Company will publish an update of its flagship product, Blockmarket, the first decentralized marketplace in the world. Blockmarket is a desktop application that combines all the features of the Syscoin platform, including the ability to send and receive Syscoin tokens, create and transfer certificates, resources and aliases and perform transactions directly on the Syscoin distributed market.
On May 1, 2018, the Company appointed Earl Flormata as Chief Marketing Officer. Earl has over 15 years experience in sales, marketing and technical leadership and is responsible for the overall marketing strategy of the company. The Company is also actively recruiting for a company development manager and plans to provide more details on this appointment soon.
Blockchain consulting services are one of the main offers of the company. The Company has now finalized the creation of an internal work group that will provide, prioritize and execute blockchain consulting mandates in a wide range of sectors and applications. The company has a solid pipeline of opportunities at various stages of the discussion and plans to provide early updates with specific details of upcoming projects.
Relationship between BCF and Syscoin's Blockchain protocol
Syscoin is an open source public blockchain protocol that was initialized in August 2014 and has since become a consolidated project within the blockchain community. Syscoin is not directly related to BCF, nor does BCF hold any Syscoin token or otherwise has a direct economic exposure to the Syscoin project.
Some employees of the Company actively contribute to the development of Syscoin. Although the Syscoin project is separate and distinct from the Company, the skills and experience gained by the Company's employees through their involvement in Syscoin are invaluable both for product development and for BCF's consulting initiatives. As Syscoin continues to evolve as a blockchain protocol with industry-leading speed and scalability, BCF is well positioned to benefit from its proprietary suite of Syscoin-enabled products and services.
Syscoin 3.0 introduces numerous powerful developments to the Syscoin platform, including Syscoin resources (similar to Ethereum's ERC-20 standards), Syscoin's masternodes and instant transactions.
- Masternodes enables instant transactions on the Syscoin network, industry-leading speed and scalability, and the ability for Syscoin token holders to vote and participate in the governance of the Syscoin network.
- Coinciding with the launch of Syscoin 3.0, the main developer Jag Sidhu has published a technical whitepaper that provides a detailed overview of the Syscoin 3.0 protocol. The white paper is available at http://www.syscoin.org/whitepaper/.
CoinPayments to launch CPS Coin on Syscoin 3.0
On 1 July 2018, Coin CPS Coin of CoinPayments will become the first Syscoin asset to be launched. CoinPayments is a payment processor of cryptocurrency at the forefront and at the forefront, with over 1.6 million sellers and 1 million active users in over 570 cryptocurrencies. BCF is engaged in discussions with a number of other groups that are exploring similar asset issues on the Syscoin platform.
BCF is creating a foundation (the "Syscoin Foundation") to oversee the development and the role of the main supporter of the Syscoin protocol. The Company plans to provide further updates on the Syscoin Foundation in the coming weeks.
Change of Auditor
Following the Company's press release of 31 May 2018, the Company wishes to clarify that no event has been reported (as defined by the National Instrument 51-102 – Continuous disclosure obligations) with the former BCF auditor, Charlton & Company Chartered Professional Accountants.
About Blockchain Foundry Inc.
Blockchain Foundry Inc. develops and markets blockchain-based business solutions and provides consulting services to corporate clients seeking to incorporate blockchain technology into their businesses. Blockchain Foundry Inc. has developed a proprietary blockchain-based e-commerce solution, Blockmarket, which is a downloadable software application, and has begun development work on a web-based Blockmarket application. Blockchain Foundry Inc. has also added staff in the area of business development and business development to explore other blockchain-based opportunities in the future.
Parts of this press release contain "forward-looking information" pursuant to the applicable Canadian securities legislation, which is also referred to as "forward-looking statements", which may not be based on historical facts. Where possible, words such as "will", "plans", "predicts", "objectives", "continues", "estimates", "planned", "anticipates", "believes", "intends", "may" "," could "or could, and the negative of such expressions or statements that certain actions, events or results" might "," could "," would "," could "or" will "be taken, occurring or being achieved, they have been used to identify forward-looking information. These forward-looking statements include, without limitation, the launch date of CPS Coin, the expected release date of Blockmarket Desktop version 3 and the related characteristics, the establishment of Syscoin Foundation, the growth of Syscoin and the expected benefits of this growth for the Company, the Company's assumption of a Corporate Development Manager, the Company's opportunity pipeline and its phases and other factors.
Forward-looking statements should not be read as guarantees of future events, results or future results and will not necessarily be accurate indicators of when or, if so, such events, results or results will be achieved. Readers should not rely excessively on such forward-looking statements, as they reflect current management views with respect to future events and are subject to risks and uncertainties and are necessarily based on a number of estimates and assumptions that, while deemed reasonable by BCF they are intrinsically subject to corporate, economic, regulatory, competitive, political and social uncertainties and contingencies. Many factors could cause BCF's actual results, performance or results to be materially different from the results, performance or future results that may be expressed or implied by such forward-looking statements.
Head of the financial office