Investing Expertise and Capital in Blockchain Technologies
This profile is part of a paid investor education campaign.*
360 Blockchain Inc (CSE:CODE; FWB:C5B; OTCPINK:BKLLF) invests exclusively in blockchain technologies, as they believe blockchain technology will radically transform how business is conducted throughout the world. The company is based in Vancouver, BC, but has also recently expanded into the US market with its wholly-owned subsidiary in the Silicon Valley, 360 Blockchain USA.
According to 360 Blockchain USA President and CEO Jeff Koyen, “Blockchain is a shared ledger used to record transactions across a decentralized network of computers. ‘Decentralized’ is the key word here. Because they have no central authority figures, blockchains are governed by the network operators. Before any transaction is recorded to the ledger, a certain level of agreement must be reached by the entire network.”
Blockchain technology is being adopted across a number of industries, including banks and financial institutions. The market has grown at a much faster rate than anticipated, and is expected to be worth $2.3 billion by 2021.
Unlike many companies in the blockchain landscape that are launching cryptocurrencies or initial coin offerings (ICOs), 360 Blockchain’s focus is to invest in technologies that are using blockchain in varied and innovative ways. To this effect, the company is at various stages of acquisition agreements with three companies that each use blockchain to pursue their mandate.
This includes SV CryptoLab, a social hacker community space by day and a cryptocurrency mining operation by night; Pressland, an open-source media directory looking to relaunch as a blockchain-powered platform combating fake news; and Arcology, a blockchain platform that will use machine-learning and pattern-recognition technology to create hierarchical blockchain structures.
Part of what sets 360 Blockchain apart from its peers is that the company entered the space early on and put together a knowledgeable management team that takes its time to properly assess potential deals. This team includes Jeff Koyen, who plays roles both as a strategic advisor to the head company and as CEO of 360 Blockchain USA. He brings with him 20 years of experience in technology journalism and, with that, a keen eye for determining viable opportunities for the company. His calibre is matched by his peers and together they lead the company with in-depth experience in multiple areas including business development, corporate finance, media, insurance and capital markets.
- Early mover in funding blockchain technologies beyond cryptocurrencies
- In various stages of acquisition agreements with three companies deploying blockchain-based technology
- Recently-launched wholly-owned subsidiary in US led by experienced technology journalist Jeff Koyen
- Knowledgeable management team that makes well-researched and informed decisions regarding their acquisitions and investments
CryptoLab: Mining and Community Building
In early November 2017, 360 announced that it had entered into a non-binding letter of intent to acquire 60 percent of the outstanding shares of SV CryptoLab, a cloud-based cryptocurrency mining organization.
Under the proposed agreement, 360 would have the option to acquire the remaining 40 percent and keep on SV’s current CEO to lead the advancement operations as a key component of the company’s management team. During weekdays, SV would continue to run a part hacker part social space that hosts meetups. Meanwhile, during nights and weekends, the lab would use its computing power to conduct its cryptocurrency mining operations for the economic benefit of 360.
“This is a significant milestone for 360,” noted 360 Director Brian Keane. “SV is the first of our proposed acquisitions. SV brings with it a strong business plan, outstanding leadership and vision highlighted by Jim Cerna; plus a vibrant presence in the heart of Silicon Valley.”
Since the submission of the letter of intent, SV has further developed its cryptocurrency mining operations to include on-site Bitcoin mining, adding 370 ASIC microprocessors to its enterprise. Additionally, SV has also entered into contracts to mine Ethereum and Zcash, to other rapidly growing cryptocurrencies. 360 has also indicated that it is exploring the possibility of opening a second location in the same format on the eastern coast of the US.
Pressland: Media Transparency Through Rewarded Crowdsourcing
In November 2016, 360 also revealed that it had executed a letter of intent to acquire 70 percent of Pressland, a media directory and website focused on media transparency. Pressland was launched in 2015 and offers a crowdsourced directory of 20,000 media outlets and professionals. In the second quarter of 2018—with the help of 360, if the agreement is accepted—Pressland will be re-launched to provide the public with blockchain-powered tools that will help expose unreliable news items.
“Today, thanks to the innovative power of blockchain technology and utilizing 360’s expertise and resources we have the unique opportunity to expand Pressland’s mission to debunking fake news and exposing unreliable players in the media,” said 360 President and CEO George Tsafalas.
The platform will function as a reward economy built on its own cryptocurrency token. WIth the use of the token, Pressland community members will be incentivized to contribute intelligence and insights and verify data from 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,” said Koyen.
If the agreement is approved by Pressland’s current owners, Chaotic Neutral LLC, 360 would have the option to acquire the remaining 30 percent of the media platform within one year. Pressland would be led by 360’s Jeff Koyen, who brings over 20 years of journalistic experience.
Arcology: Providing Hierarchical Structures to Blockchain
In its most recent acquisition activity, 360 announced that it would invest an initial $1 million for 30 percent of a first-of-its-kind blockchain platform from Alberta, Canada. Subject to the terms of the agreement, the investment would increase up to $2 million for 51 percent of the company.
Arcology is a blockchain platform utilizes machine-learning and pattern-recognition technology to develop hierarchical blockchain structures that solve common market problems including speed and scalability. Arcology has been designed to be more scalable and ‘intelligent’ than the current leader in its market, Ethereum.
“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 Tsafalas. “The blockchain revolution is just beginning, and we’re proud to be at its forefront.”
George Tsafalas—President and CEO, Director
George Tsafalas has extensive experience in senior operational management, corporate business development and corporate finance in the private and public sectors and is an entrepreneur. Currently he is a Senior Partner at Stadnyk and Partners Inc. He specializes in the execution of strategic budget plans and monitors the development of the portfolio programs, including review of the financial objectives and milestones. He has over ten years of senior management experience in the oil and gas sector, as well as in the hospitality industry and professional sports sectors. He has experience in the attraction of private equity capital, including angel investment groups and firms and has assisted in several successful equity capital fundraising efforts.
Jeff Koyen—Strategic Advisor, President and CEO of 360 Blockchain USA
Jeff Koyen is an award-winning journalist and entrepreneur who has been active in cryptocurrency and blockchain as an investor and trader since 2014. As a media strategist and advisor, Koyen is valued for his keen eye for weak signals, emerging trends and early discovery, and he has a proven track record of launching new digital properties for both startups and legacy media companies.
Brian D. Keane—Director
Brian Keane serves as a Consultant at Stadnyk and Partners Inc in New York, New York and formerly served as its Managing Director. He has over 17 years of capital markets, investing and C-level consulting experience. He has invested in, advised upon or restructured over 75 emerging growth companies in the US, Canada, Caribbean and Asia, representing over $2 billion in transaction value. He has advised several buy-side investment funds and worked at investment banks including: Rodman & Renshaw, LLC, Ladenburg Thalmann & Co and TechVest. He earned a Bachelor of Science degree from the University of Scranton and a Juris Doctor from New York Law School.
Tatiana Kovaleva has extensive experience working in the Capital Markets. Over the last twenty years she has served in the Capacity of Chief Financial Officer for multiple publicly traded companies.
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