Global Blockchain Technologies Corp.: Singularity Exchange Beta Testing Launches
September 28, 2018 (Source) — After much anticipation, Singularity, one of Global Blockchain’s exchange projects, has entered the beta testing phase. Based on both Laser and Stellar, it will be the first exchange in the world to offer both decentralized custody and a decentralized order book. Beta testing is available for interested parties to participate in and interest can be registered on Singularity’s website.
GLOBAL BLOCKCHAIN TECHNOLOGIES CORP. (CSE: BLOC, BLOC.CN, BLOC.CNX) (FSE: BWSP) (OTC: BLKCF) (“BLOC” or the “Company”) is pleased to announce that its exchange project Singularity has entered the beta testing phase. Singularity harnesses the abilities of both the Laser and Stellar blockchain networks, by using a federated sidechain to bridge the two networks. Through the combined functionality Laser and Stellar, Singularity is able to offer decentralized custody, as well as a decentralized order book. Custodianship remains a pressing issue in the trade of crypto assets, with fewer traders trusting their capital to centralized exchanges that provide custody, since they can lose their balance in the event that the exchange is hacked. Making an exchange more decentralized is a testament to the principle of decentralization that is fundamental to blockchain networks, a value that Singularity will exemplify in a way no other crypto asset exchange has before.
At this time, interested users are able to register their interest in the beta testing phase for Singularity at http://www.singularity.exchange. In order to activate their account, users will be required to make a deposit of five Stellar Lumens. Further, users will be required to accept a disclaimer which stipulates that all trades made on the beta testing version of Singularity are at the user’s own risk.
“Crypto has come a long way in 2018”, said Steve Nerayoff, Chairman of the Company. “With Singularity now on the market, it will take the space a significant step forward, providing value to both retail and institutional investors by taking away the problems that are created by centralized custody and centralized order books. Singularity represents what the crypto space was going for from the very beginning, and I am eager to see how it will enrich the space as it gets rolled out.”
BLOC President and CEO Shidan Gouran added, “Developing Singularity in parallel to Laser has been an extremely insightful experience. The concept of decentralization is something that continues to be rapidly explored as the crypto space evolves. By taking decentralization to another level in a way that greatly benefits crypto traders, Singularity will bring a lot of value to the industry. We are excited to be leading the way with it, as one of our many projects that is going according to plan.”
On behalf of the Company:
Shidan Gouran, President and CEO
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About Global Blockchain Technologies Corp.
The Company provides investors access to a basket of direct and indirect holdings within the blockchain space, managed by a team of industry pioneers and early adopters of all major cryptocurrencies.
The Company is focused on streamlining the currently arduous, lengthy, and complicated process that interested investors must undergo in order to gain exposure to the cryptocurrency space, with a view to becoming the first vertically-integrated originator and manager of top tier blockchains and digital currencies.
BLOC is listed on the Canadian Securities Exchange (“CSE”) and its common shares trade under the ticker symbol “BLOC.” Additional information relating to BLOC is available on SEDAR at www.sedar.com, the CSE at www.theCSE.com, as well as on the Company’s website at www.globalblockchain.io.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved”. Forward-looking information includes, but is not limited to the Company’s goal of streamlining the current arduous, lengthy and complicated process that interested investors need to undergo in order to gain exposure to the cryptocurrency space with a view to becoming the first vertically integrated originator and manager of top-tier blockchains and digital currencies. The Company has no assets and its business plan is purely conceptual in nature and there is no assurance that it will be implemented as set out herein, or at all. Forward-looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made, including but not limited to: statements and expectations regarding the ability of the Company to (i) successfully engage senior management with appropriate industry experience and expertise, (ii) gain access to and acquire a basket of cryptocurrency assets and pre-ICO and ICO financings on favourable terms or at all, (iii) successfully create its own tokens and ICO’s, and (iv) execute on future M&A opportunities in the cryptocurrency space; receipt of required regulatory approvals; the availability of necessary financing; permitting and such other assumptions and factors as set out herein. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks related to changes in cryptocurrency prices; the estimation of personnel and operating costs; general global markets and economic conditions; risks associated with uninsurable risks; risks associated with currency fluctuations; competition faced in securing experienced personnel with appropriate industry experience and expertise; risks associated with changes in the financial auditing and corporate governance standards applicable to cryptocurrencies and ICO’s; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalization and liquidity risks including the risk that the financing necessary to fund continued development of the Company’s business plan may not be available on satisfactory terms, or at all; the risk of potential dilution through the issuance of additional common shares of the Company; the risk of litigation. Although the Company has attempted to identify important factors that could cause actual results to differ materially from the forward-looking information set out in this presentation, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
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