November 30, 2017 6:53 AM
Previously announced proposed acquisition, Pressland, releases new details for planned relaunch as blockchain-powered platform for fighting fake news
VANCOUVER, BC, CANADA (November 30, 2017) – 360 Blockchain Inc. ("360" or the "Company") (CSE: CODE – FWB: C5B – OTC: BKLLF) announces that its funding prospect, Pressland, has released more details about its planned revenue models. Pressland plans to relaunch in Q2 2018 as a blockchain-powered platform for fighting fake news and building greater transparency in the media.
“Pressland will operate as a reward economy built on our own cryptocurrency token,” said Jeff Koyen, 360’s Strategic Advisor. “Using this token, planned to be issued in Q2, 2018, we will incentivize Pressland community members to contribute intelligence, insights and other verifiable data about media outlets and media figures. This data will then power a suite of tools designed to debunk fake news on other platforms, such as Facebook."
Since the most recent U.S. presidential election, "fake news" has posed a serious threat to the credibility — and bottom lines — of social media platforms, such as Facebook, and has driven distrust in mainstream media outlets. Pressland will fight this threat by building a blockchain-powered platform for media transparency.
"By providing the public with trustworthy, decentralized intelligence, Pressland will offer a valuable service to media companies and social media platforms," said Jeff Koyen.
Proposed revenue sources include:
- Enterprise products that can be licensed to Facebook, Twitter and other social media platforms, giving them reliable turnkey solutions for debunking fake news and verifying news sources.
- Premium memberships and services for professionals working in the media, public relations and marketing.
- White-label solutions for platforms and media companies who prefer to maintain their own branding when offering Pressland's services to their members.
- Transaction fees for all payments made to Pressland's contributing workforce.
Additionally, assuming that the Company completes the investment, 360 Blockchain will hold a significant reserve of the proposed cryptocurrency tokens. No definitive documentation has yet been signed by the parties, and there is no certainty that such documentation will be signed.
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 or George Tsafalas, CEO
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.