Vancouver, British Columbia--(Newsfile Corp. - September 20, 2018) - eXeBlock Technology Corp. (CSE: XBLK) ('eXeBlock' or the 'Company') is pleased to announce that it has completed work on its Sidechain DApp which will solve the problem of inter-blockchain transfer of value. Sidechaining is any mechanism that allows tokens from one blockchain to be used securely within a completely separate blockchain —but moved back to the original chain, if necessary.
eXeblock's Sidechain DApp enables transfers from the Bitcoin blockchain to the PeerPlays blockchain without any centralized entity in the form of a unified server. With continued development, the DApp can be easily modified to facilitate transfers on any DPOS blockchain such as EOS, Steem, Bitshares and other blockchains. The Cross Chain Consensus Protocol (CCCP) ensures that the communication between blockchains maintains a decentralized mechanism for superior security and connectivity of blockchains regardless of their consensus. Some of the applications include enabling DApps in one blockchain to utilize a crypto-currency in another or enabling blockchains to scale their transactional capabilities.
"I'm excited to be part of a Blockchain company that has already built assets that have significant value. With the right partners and strategy, these assets are ready for deployment to ensure our path to revenue generation and profitability," said Jamie Davison, President and CEO, eXeBlock Technology Corp.
To learn more, we encourage shareholders and interested parties to check out our sidechain white paper: www.exeblock.com/sidechain.
Further Company Updates:
Creating the World's First Blockchain 50/50 Fundraising Platform
In the last few months, eXeBlock has completed work on 50/50 Labs, the world's first blockchain 50/50 fundraising platform to be hosted on a public blockchain. The 50/50 DApp has taken longer than expected to complete but has had a number of improvements made to the graphical interface and the overall user experience. A more detailed strategy to monetize 50/50 Labs is now being prepared and discussions have commenced with several companies in the lottery and charity space worldwide.
The decentralized application enables any eligible organization to set up and execute local, as well as global, fundraising campaigns with just a few clicks. We encourage shareholders and interested parties to visit eXeBlock's 50/50 Labs demonstration site: https://5050labs.fun/dashboard (Username = testnet; Password = 5050$draw!). Chrome is the optimum browser to view the demonstration.
Jamie Davison Appointed President and CEO
eXeBlock recently appointed Jamie Davison as the new President and Chief Executive Officer of the Company. Mr. Davison is a recognized leader in the technology industry and brings extensive operations and corporate experience to the team, highlighted by a strong track record of value creation and depth of knowledge in commercializing innovation technology.
Since joining the company, Davison has been active in the market on several fronts, connecting with partners and exploring go to market opportunities for eXeBlock's range of products. He is in the process of identifying a path to monetization and defining a business plan that encompasses a clear and viable direction for the company.
About eXeBlock Technology Corp
eXeBlock Technology Corp. (CSE: XBLK) is a designer of custom, state-of-the-art blockchain based software applications that provide profitable, secure and efficient solutions to businesses and markets globally.
To receive regular updates on our business, please follow us on Twitter @eXeBlock or sign up to our email list on the front page of our website, www.exeblock.com.
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FORWARD-LOOKING INFORMATION
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words 'estimate', 'project', 'belief', 'will', 'anticipate', 'intend', 'expect', 'plan', 'predict', 'may' or 'should' and the negative of these words or such variations or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release includes information relating to the commercialization of the 50/50 Labs application, the ability to generate revenues from the 50/50 Labs applicationand the implementation of eXeBlock's operating plans. Such statements and information reflect the current view of the Company with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. 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. Investors are cautioned against attributing undue certainty to forward-looking statements. There are a number of important risk factors that could cause the Company's actual results to differ materially from those indicated or implied by forward-looking statements and information. Such risk factors include, among others, the Company's limited operating history and expected continued operating losses; failure of the Company's business strategy; inherent risks of the cryptocurrency and blockchain industry; system failures and security risks; government regulation; need for additional financing requirements and access to capital; reliance on key and qualified personnel; dependence on third party relationships; insurance; competition; and intellectual property. Other factors include risks associated with the marketing and sale of securities; dilution; the potential for conflicts of interest among certain officers or directors; and the volatility of the Company's common share price and volume.
For a more detailed discussion of risk factors, refer to the Company's prospectus dated November 9, 2017 filed under the Company's profile on SEDAR www.sedar.com and on the CSE's website.
The Company cautions that the foregoing list of material risk factors is not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing risk factors and other uncertainties and potential events. The Company has assumed a certain progression of its business objectives, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these risk factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
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