As the cryptocurrency markets have depreciated in comparison to their height at the end of 2017, the overall performance of the space has fallen in kind. Despite this, Global Blockchain remains positioned to drive healthy revenues with its current developments in the blockchain ecosystem. As its share price has fallen, the Company is issuing a statement to its investors to clarify its present situation.
VANCOUVER, British Columbia, July 02, 2018 (GLOBE NEWSWIRE) -- GLOBAL BLOCKCHAIN TECHNOLOGIES CORP. (CSE:BLOC) (CSE:BLOC.CN) (CSE:BLOC.CNX) (FSE:BWSP) (OTC:BLKCF) ("BLOC" or the "Company") acknowledges that its investors may find the performance of cryptocurrency assets and the drop in BLOC’s share price to be alarming. After receiving several inquiries on the matter, the Company has elected to put forward a statement to its investors to provide clarity regarding the present state of affairs, and additional insights about the Company’s current circumstances that indicate a long-term positive outlook.
Over the past month, the market capitalization of cryptocurrencies has fallen considerably. The total market capitalization on May 29, 2018 was just over US $330 billion. As of today, just one month later, that figure has sunk to US $234 billion. With this, BLOC’s common shares on the CSE went from CA $0.46 on May 29, 2018, to CA $0.26 at the close of trading today, one month later. Despite this dramatic loss in value, investors in the Company should not lose confidence, as this data alone is not reliable to forecast BLOC’s performance in Q3 2018 and beyond. There are several other factors to take into account – which, when considered together, provide an objectively positive short-term and long-term view of BLOC’s shares as an investment.
All Projects on Schedule
BLOC is presently undertaking several projects – a number of which remain under confidentiality due to the involvement of major corporations as well as government entities. An “at-a-glance” breakdown of some of the more notable projects is provided below. There are not presently any significant roadblocks to any of these projects. There will be considerable movement on each of the projects below prior to the end of 2018.
Stratus Peer-to-Peer Storage Marketplace
Using the blockchain to automate buying and selling of storage space from enterprise IT users, Stratus will help companies liquidate their excess storage space by renting it out to other enterprise users at prices about 50% lower than most cloud providers. The marketplace is structured in a manner similar to how AirBnB enables the simplified rental of short-term accommodations. The Stratus website will be live in early Q3 of 2018.
Laser Blockchain Network
Laser is a hard fork of Ethereum, and it has features to include anonymity, near-instant transactions, and blockchain interoperability. The Company has received significant interest in Laser since its announcement in April. The crowdsale for Laser’s Photon token will be launched in early Q3 of 2018.
Tokenization of Gaming Networks
In collaboration with 12 gaming network operators that have a combined base of more than 400 million users, BLOC is working to tokenize each of these networks to enrich the user experience and strengthen user engagement. This will enable functionality for eSports, as well as wagering. This is currently set to launch in early Q4 of 2018.
Trade Finance Solution
The Company is building a blockchain-based solution to optimize trade finance processes and make the supply chain more efficient for international trade. There are several major players involved in the development of this project – to include government bodies, port authorities, and leading banks.
Securitization of IP with Tokens
Individuals will be able to invest in fractional ownership of intellectual property to include music, videos, and brands. This will be made possible by creating tokenized securities out of a given brand identity or creative work, something not possible before the advent of blockchain. This is presently expected to be launched in early Q4 of 2018.
Tokenized Forex Trading Network
This will be an exchange federated on the Stellar network, for the trade of foreign currencies. Several leading exchange and remittance partners are involved in this project and will be announced close to the exchange’s launch, presently set for early Q3 of 2018.
The Company continues to be well financed for all its major developments.
On behalf of the Company: Shidan Gouran, President and CEO info@globalblockchain.io
For more information, please contact: IRTH Communications, LLC ir@globalblockchain.io 800-689-8089
About Global Blockchain Technologies Corp .
The Company provides investors access to a basket of direct and indirect holdings within the blockchain space, managed by a team of industry pioneers and early adopters of all major cryptocurrencies.
The Company is focused on streamlining the currently arduous, lengthy, and complicated process that interested investors must 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.
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.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
