December 07, 2017 4:25 AM
Arcology to empower enterprise-level public and private blockchains with industrial applications, evolving the space currently led by Ethereum
VANCOUVER, BC, CANADA (December 7th, 2017) – 360 Blockchain Inc. ("360" or the "Company") (CSE: CODE – FWB: C5B – OTC: BKLLF) announces its investment in Arcology (http://arcology.network), a first-of-its-kind blockchain platform from Alberta, Canada-based start-up Capital Blocktech Inc.
By utilizing machine-learning and pattern-recognition technology to create hierarchical blockchain structures, Arcology will solve the problems that plagues current market leaders, such as speed and scalability. Arcology inventor Mr. Laurent Zhang will lead the development, utilizing the 360 investment with the support of 360’s leadership and advisors.
- Arcology will be initially funded by a $1,000,000 equity injection, which will entitle 360 to shares equal to 30% of the then-issued and outstanding shares.
- Subject to the terms, Arcology will be funded up to $2,000,000 by 360; the full $2,000,000 will entitle 360 to the number of shares equal to 51% of the then-issued and outstanding shares.
“Laurent Zhang has invented a unique blockchain technology that self-organizes and self-recovers, and we’re thrilled to lead the investment,” said Mr. Jeff Koyen, 360’s Strategic Advisor. “We see a bright future for his radically new network structure. It will create global market opportunities for both private and public applications.”
Mr. Zhang is a visionary and innovator with technical expertise and leadership in blockchain technologies, cryptocurrencies, distributed system design, artificial intelligence, algorithm optimization and performance tuning.
Mr. Zhang has served as VP of Engineering for QuickFlo Health Inc.; Chief Technology Officer for HPIS Technologies; Research Scientist for Baker Hughes Inc.; University of Alberta Research Engineer; and Manager and Senior Engineer for MKS Instruments. He has an M.Sc. in Intelligent Systems from University of Sunderland, UK, and a B.Sc. Honours in Computing from Oxford Brookes University, UK.
“In identifying this opportunity, 360 will help advance blockchain technology to where it needs to be in a decade, not just years, from now,” said Mr. George Tsafalas, 360 President and CEO. “The blockchain revolution is just beginning, and we’re proud to be at its forefront.”
About 360 Blockchain Inc.
Our Mission: To empower blockchain technologies with capital and experience to create exponential value.
Company Description: 360 Blockchain Inc. has an all-round view to accelerate the development and application of revolutionary blockchain technologies by investing capital and expertise. We are founded on the belief that blockchain technology, essentially a distributed ledger which is transparent and incorruptible, has the potential to transform the way business is conducted, delivering security, cost savings and efficiency gains not seen before in our internet connected world. 360 Blockchain will be focused upon identifying and empowering blockchain technologies applying to crypto-currencies, smart contracts, eSports, data management, the internet of things, equity trading, privacy applications and beyond.
For further information, please contact:
Joe Bleackley, Investor Relations
Telephone: 1 (778) 806-5150
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.