360 Blockchain Inc. (“360” or the “Company”) (CSE:COD,FWB:C5B,OTC:BKLLF) is pleased to provide this update on its recently announced investment in Arcology’s transformative blockchain technology platform. Contemporary blockchain networks are flat and two-dimensional. Participating nodes are judged and rewarded according to their computing power (called “proof of work”) or investment in the network itself (called “proof …
360 Blockchain Inc. (“360” or the “Company”) (CSE:COD,FWB:C5B,OTC:BKLLF) is pleased to provide this update on its recently announced investment in Arcology’s transformative blockchain technology platform.
Contemporary blockchain networks are flat and two-dimensional. Participating nodes are judged and rewarded according to their computing power (called “proof of work”) or investment in the network itself (called “proof of stake”), or some hybrid thereof. Each has its pros and cons.
Arcology founder and leader, Mr. Laurent Zhang, has invented a radically new way of looking at blockchain. Leveraging his experience with machine learning, artificial intelligence and big data algorithmic analysis, he is creating a hierarchical structure that is self-organizing and self-repairing. Mr. Zhang’s senior level experience and education highlights include:
● Chief Technology Officer, HPIS Technologies
● Research Scientist, Baker Hughes Inc.
● University of Alberta Research Engineer
● M.Sc. in Intelligent Systems, University of Sunderland, UK
● B.Sc. Honours in Computing, Oxford Brookes University, UK
Mr. Jeff Koyen, Strategic Advisor and 360 Blockchain USA President and CEO, explained, “If we imagine a contemporary blockchain as a flat disc, Zhang’s is a layer cake that is constantly improving itself. Arcology behaves more like a living community than a network of computers.”
The Market Opportunity
With a $67 billion market cap, Ethereum is the current leader in this space. Ethereum can be viewed as Bitcoin plus an operating system: It’s a programmable platform that uses “smart contracts” to execute commands and transactions according to predefined conditions and protocols.
“But Ethereum is suffering from its success,” added Mr. Koyen. “Transaction speeds have slowed; there are questions about scalability; and fees are becoming prohibitive. Zhang and his team are learning from Ethereum’s mistakes.”
“For all the hype surrounding Bitcoin and other highly speculative cryptocurrencies, it’s the underlying technology — blockchain — that has the greatest future,” said Mr. George Tsafalas, 360 Blockchain Inc. President and CEO. “At 360 Blockchain, we’re committed to building this future, and our investment in Arcology is a significant leap in that direction.”
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:
Telephone: 1 (778) 806-5150
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.
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