Gopher Protocol Announces Launch of Blockchain Division

Gopher Protocol (OTCQB:GOPH) has announced it has launched a blockchain division to support and extent its technology.

As quoted in the press release:

The blockchain division will focus on the use blockchain solutions to manage multiple lines of business and operate them with “distributed ledger” blockchain technology (DLT) as the underlying technology.

This technology allows digital information to be distributed, but not copied. That means each individual piece of data can only have one owner. It has also been described as a “digital ledger” stored in a distributed network, the information is constantly reconciled into the database, which is stored in multiple locations and updated instantly. That means the records are public and verifiable. Since there is no central location, it is harder to hack as the info exists simultaneously in millions of locations.

The blockchain will also seek to create partnerships with groups seeking to use Gopher technology for tokenizing tangible, valuable assets to be coupled with blockchain technology to store data and provide transaction history.  The focus will be to provide traceability of data, tangible and proven value of an assets and scalable technologies supported by distributed processing capabilities.

“We believe a business model combining blockchain with Gopher’s already developed network technologies provides promise to the IoT (Internet of Things) industry and that our expertise in AI and IoT will provide us with the ability to enter this industry with a focus on the tokenization of tangible assets as well as other groundbreaking capabilities that can be achieved through the utilization of blockchain technology,” stated Dr. Danny Rittman, CTO of Gopher.

Click here to read the full press release.