Global Blockchain Forms Subsidiary GBT Exchanges Corp., to House Exchange-Related Interests, Closes Private Placement

Global Blockchain Technologies (CSE:BLOC) has announced an update on its exchange-related activities, including interests in various cryptocurrency exchanges and pending deals for the development of additional new exchanges.

As quoted in the press release:

President and CEO Shidan Gouran stated “Our interests in this category form part of an additional and potentially stand-alone, critical mass business line for the company. As the assets continue to grow and mature, we believe the Company has put into place the right corporate structure to provide for a potential spinout of the Division in the future.”

At this time, the Company’s exchange division contains the following business activities:

1. Hyperion Exchange – Offering what will be the first advanced exchange for security tokens in North America, Hyperion is positioned to disrupt the world’s technologically stagnant stock markets with tokenized securities traded on the blockchain. While the world’s stock market has grown from $32 trillion in 2008 to $79 trillion today, these markets still rely on exchanges with features such as clearinghouses, whose functionality is mirrored by the blockchain both more efficiently, and at a lower cost. Hyperion’s launch is expected to occur at around the same time as that of tZERO, a decentralized security token exchange that has raised more than $250 million in its ICO.
2. Laser Network – Acting as a SWIFT-like network for cryptocurrencies, Laser is a service layer that enables the blockchains of different cryptocurrencies to interact with each other without the use of a centralized exchange. As cryptocurrencies have grown, it is clear from the level of public interest as well as the hundreds of billions of dollars in market capitalization, that there is strong upward momentum for these digital assets.

   As this growth has occurred, it has become clear that some limitations exist for individual cryptocurrencies with respect to how much market share each currency can possibly acquire. Despite the fact that cryptocurrencies such as Bitcoin, Ethereum and Litecoin are each major players, no single one of them can become the world’s primary cryptocurrency. This does not have any negative implications for cryptocurrencies, as this same reality is shared with fiat currencies, of which there are 180. They do not compete with one another for market share, as they each serve their own purpose in their respective jurisdictions.

   These currencies can easily be transacted across borders and banking systems through systems such as SWIFT, making most currencies tradeable and fungible on a global scale. Laser will serve the same purpose for cryptocurrencies, enabling many different coins and tokens to coexist and grow together.

Click here to read the full press release.