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.”
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