Leading the Blockchain Market in Decentralized Application Technology
This profile is part of a paid investor education campaign.*
eXeBlock Technology Corp (CSE:XBLK) is a Canadian tech firm that designs custom, scalable blockchain based software applications for businesses and organizations in global markets who want to leverage blockchain technology to improve performance, ensure security and generate profits. Headquartered in a cold war era nuclear bunker in Nova Scotia, eXeBlock’s services include blockchain technology consulting, blockchain application development and custom blockchain development.
An early entrant into the blockchain and cryptocurrency space, eXeBlock Technology was one of the first Canadian publicly traded software developers focused on building blockchain-based decentralized applications (DApps). Blockchain DApps control and distribute blocks of encrypted information, that are anonymous and unalterable, via the blockchain’s multiple ledger system, to all the devices on a network.
Recognizing that the transactional industries lack usable software applications, eXeBlock is determined to create value for its shareholders by developing branded and white-label DApps that can fully harness the power of blockchain to improve global business while generating per use transactional revenue. eXeBlock’s strategy is to identify global markets with high transaction throughputs and stellar per-use revenue potential and then develop blockchain related applications and services to match the needs of those sectors. The company expects to earn transaction fees from multiple DApps over time.
In 2016, eXeBlock Founder Jonathan Baha’i—an internationally-acclaimed leader in blockchain—created Peerplays (PPY), the world’s first eSport tournament and wagering platform built entirely on blockchain. The PPY universally accessible tournament and wagering platform uses the Graphene Blockchain Framework—one of the three top blockchain ecosystems—to solve many online gaming industry problems by offering security, speed and flexibility to end users.
In December 2017, eXeBlock inked an agreement with the Peerplays Blockchain Standards Association to develop four PPY-compatible DApps over the next two years. “The development of DApps compatible with the Peerplays network will allow eXeBlock to quickly penetrate a high value untapped market in blockchain through an established network with the unique capacity to support a significant user base,” said Ian Klassen, Chief Executive Officer of eXeBlock. “This transaction accelerates our timeline to meaningful revenue generation.”
The company has two DApps at the forefront of its project pipeline, 50/50 Labs and Freedom Ledger. On March 1, 2018 eXeBlock announced that its 50/50 Labs DApp had been successfully tested on TestNet and was currently being fitted for a user friendly graphical interface to ensure a superb user experience. The DApp will enable charitable organizations worldwide to create 50/50 Labs draws free of charge. With each ticket sold a portion of the transaction value will go back to the Peerplays network and in turn, eXeBlock will earn transactional fees based on the number of PeerPlays tokens it holds. The company currently holds 940,000 of the outstanding tokens in the decentralized blockchain platform PeerPlays.
The company also provided an update on Freedom Ledger stating that the DApp fell into a similar transactional fee revenue model. Freedom Ledger is a blockchain technology that will facilitate transactions for users that do not hold a cryptocurrency account. The technology will enable consumers with traditional currency accounts to utilize various DApps. Freedom Ledger will significantly expand the consumer base for blockchain based DApps and will be marketed to DApps developers worldwide. Freedom Ledger does not act as a cryptocurrency custodian but rather will enable the automatic swap from one blockchain to another keeping all blockchain tokens and cryptocurrencies secure. eXeBlock anticipates releasing a White Paper on Freedom Ledger in the coming weeks.
On March 1, the Company also confirmed that it was pursuing an aggressive personnel plan targeted at building a critical mass of blockchain talent. The development team located in Debert, Nova Scotia was continuing to expand and the company had signed a contract with an international firm that has fifteen developers working on eXeBlock’s blockchain DApps.
- Decentralized technology is becoming a viable alternative to traditional centralized transaction processing
- First mover advantage in the development of disruptive DApps using blockchain technology
- Management team and developers are recognized leaders in the development of blockchain based DApps
- Focused on creating DApps for a broad range of global markets
- DApps will generate recurring revenue on a per-use basis
- Revenue generating expected in 2018 with launch of 50/50 Labs DApp
- Freedom Ledger DApp under development
- Pipeline of opportunities identified across several industries
The Future of Blockchain is Now
Blockchain technology is quickly moving beyond digital currency transactions and into a wide-range of real-world business and peer-to-peer applications. Blockchain-based Distributed Ledger Technology (DLT) enables institutions to transfer and record assets—even non digital currency—without an intermediary, and is by design immune to many of the security problems associated with centralized and cloud-based networks.
Blockchain decentralized applications are on the road to replacing manual and central database services by providing more accurate and verifiable tracking services, especially in the banking and financial sector. By 2020, an estimated 66 percent of all banks will be using blockchain software, according to a IBM 2016 report. Analysts at Market and Markets report that the blockchain technology market could grow at a CAGR of 61.5 percent to hit $2.3 billion by 2021.
eXeBlock is using its in-house expertise to develop a pipeline of per-use revenue generating blockchain DApps with global market potential across a broad-range of transactional industries.
What are DApps?
DApps are open-sourced software programs which run on a peer-to-peer network of computers rather than being controlled by a single centralized system. Blockchain-based DApps control and distribute blocks of encrypted information around the blockchain network. Operating under the assumption that none of the network-connected devices are to be trusted, these data blocks are relayed anonymously through the network using blockchain’s multiple ledger system—ensuring the data blocks are unalterable and therefore hack-proof. DApps can change protocol in response to market feedback provided all changes are agreed upon by its users.
eXeBlock Product Pipeline
50/50 Labs to launch in 2018. Freedom Ledger now under development.
eXeBlock has seven additional DApps in its development pipeline. Scalability has been the elephant in the room for blockchain technology, especially in regards to Bitcoin. Based on the Graphene Blockchain Framework—the longest blockchain in the world— each of eXeBlock’s DApps will be designed from the ground up with scalability in mind to meet the needs of a global marketplace. Prior to commercial release, each DApp will first be released in Beta form on TestNet to gather functional and operational feedback from users.
eXeBlock Tecnology’s DApps incorporate an embedded per-use revenue share mechanisms to ensure shareholders receive value from each transaction. The company will receive income based on a percentage of each completed transaction. Additional revenue may also be generated through consulting fees and maintenance fees.
Following the public launch of the 50/50 Labs on the Peerplays platform in the first half of 2018, management expects to begin generating revenue from each 50/50 draw completed on the network within 12 months.
As part of the agreement with Peerplays Blockchain Standards Association, eXeBlock received 940,000 PPY tokens—digital assets that allow holders to have a say in operational modifications and share in revenue generated by DApps on the PPY platform. As a 50/50 draw takes place, a percentage of revenue is retained within the PPY blockchain and that revenue is paid out to the token holders.
“Essentially, we are sharing the revenues with the end users of 50/50 Labs, who are more than likely PPY token holders,” explains Klassen. The upside to this revenue sharing structure for eXeBlock is that PPY token holders will be more likely to use the 50/50 Labs for their next 50/50 draw because they have a vested interest. “We have engaged our end users financially and in the improvement of product functionality through the token holding system. That’s how a decentralized application works. The end users and the founders who created the application are equally aligned with its success. We believe it is a progressive approach to business that will become the norm,” he added.
50/50 Labs is expected to be used by charitable groups and fundraising organizations worldwide. “Shortly, the company will begin a marketing campaign directed at charities,” said Klassen. “The program will demonstrate the DApp’s ease of use and significant revenue generating opportunities available with the 50/50 Labs”
Jamie Davison-President and Chief Executive Officer
Mr. Davison brings extensive operating and executive leadership experience to the team, highlighted by his strong track record of value creation and his depth of knowledge in commercializing innovation technology. Most recently, Mr. Davison served as Vice President, Innovation and Renewal at the Atlantic Lottery Corporation where he was responsible for managing and directing the Innovation group which was comprised of a research arm focused on the 4D development process, a development team launching MVP’s and internal innovation and culture initiatives. Mr. Davison, an Economics graduate from Acadia University, will be based in Halifax where he will utilize his results driven skills to carry on the Company’s business model of DApp development and commercialization.
Founder with over 20+ years of experience in the server hosting and telecommunications industry. As an entrepreneur, Jonathan is identifying future trends in technology and has formed technology based companies designed to solve business data needs.
Alexei Dulub–Programming Team Lead
CEO and Founder with over 7 years’ experience leading teams of programmers from strategy to rapid prototype development. After graduating with a Masters in Computer Science from Belarusian State University of Informatics and Radioelectronics in 2007, he quickly went on to become a lead programmer for the companies he worked at.
Rob Randall has served as a CFO for a number of TSXV-listed companies over the past five years and has extensive public company financial experience. Previously, he was the Corporate Controller for Etruscan Resources Inc. and a Principal with PricewaterhouseCoopers.
Roman Bystrimovich–Blockchain Developer
Senior software engineer with 6 years of experience in web application and service architecture, functional design, development, integration, implementation and deployment. Solid blockchain background experience in: methodology and standards determination/implementation, system architecture and structural optimization, development and deployment.
Paul Thomson is the chief compliance officer and dealing representative at Numus Capital Corp., an exempt market dealer focused on investments in the private capital markets. He also serves as Corporate Secretary of publicly traded resource company Antler Gold Inc. And previously served as Corporate Secretary of Northwest Arm Capital Inc., a TSXV-listed capital pool company.
Carl Sheppard is the Founder and President of Sci Resource Software Inc. Sci develops customized web-based software for project owners, operators, contractors and consultants. The software is currently being used to monitor industrial activity by some of the largest oil, utility and mining companies operating in Canada.
Ian Klassen has 25 years of experience in public company management, public relations, government affairs and entrepreneurialism. He is the president of a North American mineral exploration company and sits on the board of directors of several private and public companies.
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