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Global Blockchain Technologies Corp
Symbol BLOC
Shares Issued 364,656,926
Close 2018-08-15 C$ 0.165
Market Cap C$ 60,168,393
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Global Blockchain Tech has software licence in Dubai

2018-08-16 02:56 ET - News Release

Mr. Theo van der Linde reports

GLOBAL BLOCKCHAIN ANNOUNCES DUBAI-BASED SUBSIDIARY TO DEVELOP DISTRIBUTED LEDGER (BLOCKCHAIN) TECHNOLOGY SERVICES AND SOLUTIONS WITHIN THE DMCC FREE TRADE ZONE

Global Blockchain Technologies Corp.'s Dubai-based subsidiary Blockchain Technologies DMCC (BTD), after a due diligence process conducted by the Dubai Multi Commodities Centre (DMCC), a government of Dubai entity, Free Trade Zone Authority, has been officially licensed to develop software, which includes distributed ledger (blockchain) technology services and solutions within the DMCC free-trade zone. The DMCC free-trade zone is home to over 15,000 multinational corporations and has over 60,000 employees from 170 countries worldwide.

BTD is now in a position to offer blockchain-based infrastructure, middleware and other ancillary services to the DMCC free zone and customers throughout the Middle East region, which can now partner with BTD to take advantage of the United Arab Emirates' strategy to accelerate the development of blockchain technology.

Global Blockchain will strategically identify opportunities to introduce blockchain technologies to enhance existing business functions and marketplaces in the region.

Specific areas of interest include: optimizing trade finance and supply chain solutions for commodities transactions, diamond trading and provenance authentication, distributing renewable energy resources, and developing a spot market for gold bullion trading.

Theo van der Linde, the company's chief financial officer, stated: "We have made our relationships in this region a priority focus given the company's view that blockchain solutions are particularly relevant and sought after in this area. With the granting of this licence, our presence in Dubai will expand as we drive solutions toward this new base of customers."

DMCC was named global free zone of the year in 2017 by The Financial Times fDi Magazine for the third year running and serves as a global marketplace for commodities to drive trade flows through Dubai and the region. As a DMCC-licensed company, BTD operates in a secure regulated trading environment and offers a service to global investors to the highest standards of international compliance.

Mr. van der Linde continued: "Blockchain technology is uniquely suited to solving problems facing the commodities industry. The receipt of this licence from the DMCC is regarded as a truly significant milestone."

The DMCC mandate to drive commodity trade volumes through Dubai sets the course for stronger and deeper penetration of this market by BTD. This is the most meaningful platform for Global Blockchain to market its offerings in a manner that could greatly benefit commodity-based companies in the region looking to blockchain technology to digitize trade, enhance trust, decrease costs and save time.

It is a testament to the Global Blockchain team and the growing recognition of the suite of talents housed within Global Blockchain that dynamically affect blockchain integration. With an experienced management team that has been involved in the blockchain ecosystem from its infancy, the company believes that it can make a considerable impact on several areas of commerce by intelligently leveraging the full range of capabilities of blockchain technology.

The company will continue to update both shareholders and stakeholders as it builds its licensing permissions and client base in the region, within the regulated framework of the DMCC free-trade zone.

About Global Blockchain Technologies Corp.

The company provides investors access to a basket of direct and indirect holdings within the blockchain space.

The company is focused on streamlining the currently arduous, lengthy and complicated process that interested investors must undergo to gain exposure to the blockchain space, with a view to becoming the first vertically integrated originator and manager of top-tier blockchains.

We seek Safe Harbor.

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