BLOC's exchange division partner Hyperion has completed a strategic investment in the Delaware Board of Trade to leverage their SEC-registered Alternative Trading System for the regulated trade of cryptocurrency assets. Additionally, the Laser Network's whitelist has officially been released with a firm launch date for the crowdsale on Monday, September 3rd
VANCOUVER, British Columbia, Aug. 21, 2018 (GLOBE NEWSWIRE) -- GLOBAL BLOCKCHAIN TECHNOLOGIES CORP. (CSE: BLOC, BLOC.CN, BLOC.CNX) (FSE: BWSP) (OTC:BLKCF) ("BLOC" or the "Company") is pleased to announce two major developments in its exchange division. First, Hyperion Crypto Exchange Inc.'s ("Hyperion") investment into the Delaware Board of Trade ("DBOT"), which will enable BLOC to leverage DBOT's SEC-registered Alternative Trading System ("ATS") for trading tokenized securities. Second, the Laser network's whitelist has been made public as of today, with its crowdsale's launch date set for Monday September 3rd, 2018.
Hyperion is a security token exchange which performs the same functions as a stock exchange, but with the use of blockchain technology to automate processes otherwise performed by third parties such as clearinghouses, thus improving speeds and lowering costs. BLOC owns 12.82% of Hyperion's total issued and outstanding share capital. Aside from offering investors the benefit of trading securities in the form of tokens on a blockchain, Hyperion's strategic investment into DBOT will enable it to become part of DBOT's SEC-registered ATS, providing investors with the protections of federal securities law and regulatory oversight. The SEC has emphasized the importance of this in a public message released this past March about potentially unlawful online digital asset trading platforms, all of which lack SEC registration.
The Laser network is a SWIFT-like blockchain solution that enables different cryptocurrencies on different blockchains to be transacted almost seamlessly, without the use of a centralized exchange. As previously announced in April, the Laser network has received considerable attention from the technology and finance communities. After finalizing matters with securities counsel to ensure compliance, the whitelist for the Laser crowdsale has been made live, pending the official launch of the crowdsale on Monday, September 3rd. The sale is structured as an equity sale in the Company's Cayman island based subsidiary, Laser Technologies Corp. ("Laser Corp."), where each share purchased will receive a "kicker" of one Photon token, being Laser Corp's proprietary cryptocurrency. A block of 6,300,000 shares will be made available, with a minimum purchase of 1,500 shares. All interested parties will be required to undergo know your client ("KYC") and anti-money laundering ("AML") checks prior to making an investment. Prospective investors may register their interest at http://laser.xyz/investors.
"These developments represent some very exciting movements for BLOC", said Shidan Gouran - President and CEO of the Company. "Our exchange division has been working on several major projects to strengthen the power of blockchain technology and bring it to new use cases such as securities, as we are doing with Hyperion. Further, we have finally gotten the ball rolling with Laser Corp's crowdsale, which is good news for our interested investors. The scope of our work at BLOC has expanded considerably, with us working on several different types of exchanges in the Americas, the Middle East, and Central Asia. This is why for the exchanges, we had to form yet another division, after forming our first division for mining, which we spun out earlier this year. We are very excited for the progress to come with Hyperion, Laser, and our other exchange-related projects."
BLOC's Chairman Steven Nerayoff added, "Having been part of the blockchain ecosystem since the very beginning, it is amazing to see how in less than ten years we have gone from just Bitcoin, to more than 1,800 cryptocurrencies and countless possible uses for blockchain technology, aside from just coins and tokens. Our leadership at BLOC has the combined blockchain experience and business acumen to make some truly disruprive developments such as building the Laser network and putting Hyperion on an SEC-regulated alternative trading system. I am thrilled to be part of this and see how it will shape the coming years and decades in blockchain and crypto."
Finally, advisor and former NYMEX Chairman Richard Schaeffer commented, "Blockchain technology has been the answer to questions that people were asking for decades in high finance. Between speeding up transactions, cutting out middlemen, and enabling assets to be traded virtually without borders, I see tremendous promise in so many of BLOC's projects, especially Hyperion. Every serious investor in the United States knows the importance of SEC compliance, and attaining this will enable Hyperion to compete on the same playing field as traditional exchanges, which will set new standards in the world of finance."
On behalf of the Company:
Shidan Gouran, President and CEO
For more information, please contact:
IRTH Communications, LLC
About Global Blockchain Technologies Corp.
The Company provides investors access to a basket of direct and indirect holdings within the blockchain space.
The Company is focused on streamlining the currently arduous, lengthy, and complicated process that interested investors must undergo to gain exposure to the blockchain space, with a view to becoming the first vertically-integrated originator and manager of top tier blockchains.
BLOC is listed on the Canadian Securities Exchange ("CSE") and its common shares trade under the ticker symbol "BLOC." Additional information relating to BLOC is available on SEDAR at www.sedar.com, the CSE at www.theCSE.com, as well as on the Company's website at www.globalblockchain.io.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or indicates that certain actions, events or results "may", "could", "would", "might" or "will be" taken, "occur" or "be achieved". Forward-looking information includes, but is not limited to the Company's goal of streamlining the current arduous, lengthy and complicated process that interested investors need to undergo in order to gain exposure to the cryptocurrency space with a view to becoming the first vertically integrated originator and manager of top-tier blockchains and digital currencies. The Company has no assets and its business plan is purely conceptual in nature and there is no assurance that it will be implemented as set out herein, or at all. Forward-looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made, including but not limited to: statements and expectations regarding the ability of the Company to (i) successfully engage senior management with appropriate industry experience and expertise, (ii) gain access to and acquire a basket of cryptocurrency assets and pre-ICO and ICO financings on favourable terms or at all, (iii) successfully create its own tokens and ICO's, and (iv) execute on future M&A opportunities in the cryptocurrency space; receipt of required regulatory approvals; the availability of necessary financing; permitting and such other assumptions and factors as set out herein. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks related to changes in cryptocurrency prices; the estimation of personnel and operating costs; general global markets and economic conditions; risks associated with uninsurable risks; risks associated with currency fluctuations; competition faced in securing experienced personnel with appropriate industry experience and expertise; risks associated with changes in the financial auditing and corporate governance standards applicable to cryptocurrencies and ICO's; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalization and liquidity risks including the risk that the financing necessary to fund continued development of the Company's business plan may not be available on satisfactory terms, or at all; the risk of potential dilution through the issuance of additional common shares of the Company; the risk of litigation. Although the Company has attempted to identify important factors that could cause actual results to differ materially from the forward-looking information set out in this presentation, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
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Source: Global Blockchain Technologies Corp.