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BLOK Technologies Inc. (CSE:BLK) (FRANKFURT:2AD) is investing in the development of emerging blockchain-based technology to provide real business solutions to targeted industries. The company’s experienced management team is dedicated to showing the business world that blockchain is much more than the volatile universe of Bitcoin—it is a decentralized and distributed ledger technology with the capacity to improve security and efficiency across a wide-range of business applications.
“We’re building a solid foundation of core technology and bringing capital to the table to invest in further technologies in this space,” said Rob Dawson, BLOK Technologies CEO. “Blockchain is anticipated to disrupt and add value to over a 150 industries. Our long-term strategy is to be at the forefront of developing blockchain solutions for those industries with recurring revenue streams.”
BLOK Technologies’ first project is its wholly-owned Greenstream—a blockchain-enabled supply chain management platform for Canada’s legalized cannabis industry. Combining blockchain technology with legal cannabis gives BLOK’s investors exposure to two emerging sectors both projected to be worth billions of dollars in the coming years. Canada’s leading independent investment bank for 2017, Canaccord Genuity said it owes its 500-percent year-over-year net income gain in its recent third-quarter earnings in large part to deals in the Canadian cannabis sector and growing interest in blockchain.
“We have identified a clear market opportunity for blockchain to be a leading technology for the cannabis industry,” said Dawson. “The Greenstream platform will become THE supply chain integrity solution for the legal cannabis industry.”
Greenstream is designed to engage all of the industry’s stakeholders, including licensed producers, dispensaries, consumers and regulators. The platform will enter the beta testing phase in April 2018.
Once BLOK Technologies has established a foothold in the cannabis sector, the company plans to expand both its portfolio of technologies and the industries it serves. Management will target adjacent industries with similar opportunities for blockchain-based transaction processing, supply chain management, identity verification and payments.
BLOK Technologies is hedging the vast experience and knowledge of both its management and in-house development team to capitalize on new market opportunities and deliver shareholder value.
- Developing global blockchain based DLT solutions for real business applications in markets that are ready for blockchain; supply chain, healthcare, fintech, etc.
- Management team experienced in technology, cannabis and capital markets
- Highly experienced in-house development team with blockchain, software development and fintech expertise
- Greenstream: blockchain-enabled supply chain integrity platform for the legal Cannabis industry
- Beta testing in April 2018 in collaboration with Canadian licensed cannabis producers
- Building out the business model with additional acquisitions and strategic investments in 2018
- Focused on value creation in blockchain sector through traditional, tried and true capital markets
- CSE and Frankfurt-listing and application submitted for US-listing in February 2018
Blockchain is Shaping the Future of the Global Economy
Moving beyond digital currency, Blockchain is just beginning to shape the future of the global economy across a wide-range of marketplaces and industries. Decentralized blockchain-based Distributed Ledger Technology (DLT) is destined to replace manual and central database services by providing more accurate and verifiable tracking services.
Research and Markets expects the blockchain market to grow at a CAGR of 79.69 percent to reach $7.68 billion by 2022. In a recent report, the research firm cited “demand for distributed ledger technology . . . increasing demand for simplified business processes, transparency and immutability, faster transactions, and Blockchain-as-a-Service” as the most significant factors driving this growth.
BLOK Technologies is at the forefront of this emerging multibillion dollar sector and plans to build a portfolio of emerging blockchain applications to better target opportunities across a variety of industries including:
- Banking and payments
- Supply chain management
- Real estate
- Legal and Insurance
BLOK Technologies’ first product under development combines two of the hottest growth stories in the investment community: cannabis and blockchain.
The Greenstream Platform
Supply chain management solution for the legal cannabis industry—ready for market in 2018.
Greenstream Technology, acquired in January 2018, is a wholly-owned subsidiary of BLOK Technologies. The Greenstream platform is a private blockchain-enabled distributed ledger application designed to provide technological solutions for the seed-to-sale management of Canada’s emerging legal cannabis industry.
Some of the challenges addressed by Greenstream include
- How to navigate provincial variations in regulations
- How to ensure secure banking and transaction processing
- How to mitigate risks of non -tax remittance, product diversion and illicit supply
- How to verify the integrity of the supply chain
Not only can blockchain help companies and governments track and manage the movement of cannabis products through the supply chain, but the technology can also help stakeholders better manage the taxation of legal cannabis. In order to provide targeted solutions for this new regulatory environment, BLOK Technologies has also engaged policy advisors to consult with government regulators at both the provincial and federal levels.
Greenstream’s development team announced in February 2018 the completion of a working proof of concept, built using the IBM Hyperledger fabric. Beta testing is scheduled for April 2018 in collaboration with Canadian licensed cannabis producers.
Legal cannabis in Canada is projected to be a $22.6 billion per year industry. The Greenstream platform provides BLOK Technologies with the opportunity to capture some of that value for shareholders through a recurring revenue stream model. After commercial launch, the Greenstream platform will have multiple revenue streams and is forecasted to produce more than $100 million topline revenues by year three.
Rob Dawson has over 20 years of global experience in business leadership, strategic marketing, consulting, technology, crowdsourcing, innovation, and communications. As a C-Level executive in growing software technology and innovation companies, Rob has developed and delivered compelling business strategies for both Fortune 500 and growing enterprises. His experience crosses several categories including technology, financial services, blockchain, consumer goods, food, retail, and environmental sustainability with well-known brands such as Intel, Dell, LG Electronics, Microsoft, Expedia, HSBC, LEGO, VELCRO, and others. He has extensive experience in the ideation and creation of new technology-based business models based on emerging market dynamics.
Rob has held positions as Chief Client Officer and Chief Marketing Officer at industry-leading participation and crowdsourcing technology companies as well as President of boutique research and innovation consultancies. He holds a Bachelor of Commerce from Queen’s University. A frequent speaker at global marketing and innovation events, Rob was President of AIM, the Association of Integrated Marketers, a member of the Digital Strategy Conference Advisory Board and in 2006 he was recognized as one of BC’s “Top 40 Under 40”.
David Alexander’s past achievements include CFO of Arakis Energy Corporation, an international oil & gas development company. He managed the company’s growth from a start-up to over a billion dollars in assets, leading to a listing on the NASDAQ exchange. He was also the CFO of Nortran Pharmaceuticals, Inc., a UBC based pharmaceutical company engaged in the development and Commercialization of cardiovascular therapies. While at Nortran, he helped secure initial and ongoing research financing. Nortran ultimately became Cardiome Pharma, a successful Vancouver B.C. based pharmaceutical company (NASDAQ: CRME). Mr. Alexander holds a degree in Finance from The University of British Columbia.
Joel Yaffe—CTO and Director
Joel Yaffe is an established technology professional of the Montreal startup community, agitating and mentoring tech- entrepreneurs while incubating and launching many ventures. Joel founded iTechnique a popular Montreal and Toronto Apple Service Centre in 2005 and then MConcierge Systems in 2009, a hospitality engagement platform (app) for the hotel industry. Rebranded as GuestDriven, the platform was acquired in 2016 and today is deployed in hundreds of properties and cities worldwide. Joel is also a member of The Founder Institute where he is a mentor to tech startups in Montreal and around the world. Aside from Joel’s many experiments in disruption, his current interests include robotics, brain-computer- interfacing (BCI), and environmental-technologies.
Jamie Hyland—VP Corporate Development and Director
Jamie Hyland is a founding partner with Tribeca Capital Partners and provides corporate development services on behalf of several publicly listed companies in Canada. Mr. Hyland has over 25 years of experience as a financial and marketing consultant, a corporate founder, director and manager of a number of early-stage public and private Canadian businesses. His industry experience includes hospitality, publishing, mining, financial services, technology, alternative energy, telecom, and healthcare. Mr. Hyland has an extensive network of contacts within the financial community including fund managers, family offices, industry analysts, and media throughout North America, the United Kingdom and continental Europe. Mr. Hyland has also worked in advertising with a major mining and resource publication based in Vancouver BC. Mr. Hyland earned a Bachelor of Commerce in Entrepreneurial Management from Royal Roads University of Victoria, BC. Canada and received a Certificate in Private Capital Markets from Pepperdine University’s Graziadio School of Business and Management, Los Angeles, California.
Dr. Lui Franciosi—Chairman of the Board
Dr. Franciosi has more than 20 years of experience conducting pharmaceutical and medical device studies in academia and industry. Previously, he acted as the Chief Operating Officer at Verona Pharma PLC, London Stock Exchange (AIM: VRP). Prior to Verona Pharma, Dr. Franciosi completed his post-doctoral research in COPD progression modeling at the Clinical Pharmacology & Discovery Medicine Unit, GlaxoSmithKline, UK. He obtained his Doctorate & Masters degrees at The University of British Columbia (UBC), Canada – and pursued business studies at the University of Warwick, UK. He is currently an adjunct professor at UBC Faculty of Medicine, Department of Anesthesiology, Pharmacology & Therapeutics.