Global Blockchain Announces Laser Subsidiary and Eight New Advisors

Global Blockchain (CSE:BLOC) has announced that it has incorporated Laser, a Cayman-based company, as part of its Laser Network.

As quoted in the press release:

To date, Laser has received considerable attention from throughout the blockchain sector, as well as from the broader technology industry as a SWIFT-like protocol to interconnect thousands of existing blockchain networks, thus allowing inter-chain transactions, and enabling blockchains to operate without borders.

The purpose of this subsidiary is to manage the initial servicenode network that underpins Laser’s blockchain network and supports its defining features. The crowdsale will entail an equity sale in the subsidiary Laser Inc., with the network’s proprietary Photon cryptocurrency (“Photons”) allocated proportionately to equity purchased. A block of 6,300,000 shares will be made available in the crowdsale, with a minimum purchase of 100 shares. Pricing and forms of payment are to be announced.

For parties who are interested in operating a servicenode, a minimum of 1,000 shares in Laser Inc. must be purchased. Servicenode operators will each have one vote to accept new members and maintain existing members on Laser. As the servicenode network evolves to become decentralized and anonymous, the requirement for operators to be shareholders will be discontinued, though it will remain a firm requirement in Laser’s initial stages.

On completion of the crowdsale, the subsidiary Laser Inc. will become a for-profit consortium with a co-op structure. Its purpose will then be to provide educational and support resources to servicenode operators, and provide funding for ongoing software development for Laser.

“Laser is the decentralized SWIFT-like solution that blockchain has been waiting for,” said Shidan Gouran, President and CEO of the Company. “Since the success of Laser will rely on having a reliable group of servicenode operators, our formation of Laser Inc. both streamlines the investment process, and ensures that financial and informational resources will be available to the benefit of servicenode operators, as well as all users of Laser.”

Click here to read the full press release.