Mr. Christopher Marsh reports
BLOCKCHAIN FOUNDRY AND ARCHOS ANNOUNCE STRATEGIC PARTNERSHIP; ARCHOS TO BE GRANTED 5% OF BLOCKCHAIN FOUNDRY SHARES IN EXCHANGE FOR EXCLUSIVE DISTRIBUTION AGREEMENT IN CANADA AND THE USA
Blockchain Foundry Inc. and ARCHOS SA have formed a strategic partnership covering blockchain hardware solutions and related software infrastructure. Pursuant to this partnership, Blockchain Foundry will become the exclusive North American distributor of the ARCHOS SAFE-T range of hardware cryptocurrency wallets and blockchain-secured solutions.
ARCHOS recently announced the development of the SAFE-T Touch, a groundbreaking innovation in the hardware wallet segment. The SAFE-T Touch offers a highly secure hardware wallet platform, embedding a trusted execution environment incorporating ProvenCore technology from Prove & Run SAS, a leading European software security firm. This focus on security, combined with a user-friendly mobile wallet interface, provides SAFE-T Touch users with the best of both worlds; a highly secure environment that is also convenient and easy to use.
In consideration of the agreement, Blockchain Foundry will grant ARCHOS 3.7 million common shares, representing approximately 5 per cent of the outstanding shares of Blockchain Foundry. In addition, ARCHOS may be entitled to cash or share-based consideration of up to 10 per cent of the gross revenue earned by Blockchain Foundry from ARCHOS products during 2019, based upon milestones including the appointment of Blockchain Foundry as ARCHOS's preferred partner for blockchain development services. The agreement and strategic partnership are arm's length.
"The BCF team has been developing products and services for blockchain since 2012. We are impressed by ARCHOS's strategy and believe that its developments are setting new standards for hardware wallets, which are key to building a secure blockchain environment. BCF's dedicated sales and marketing team will be actively targeting North American cryptocurrency asset holders and the cryptocurrency community in order to promote these innovative products and associated services platforms," stated Dan Wasyluk, chief executive officer of Blockchain Foundry.
"This partnership is a key milestone for ARCHOS in the development of its blockchain solutions. BCF's track record in blockchain technology is impressive, including the creation of the Syscoin platform and important B2B blockchain services developments like Blockmarket Desktop 3.0., a decentralized marketplace and cryptocurrency wallet. The team is highly efficient, user centric and motivated. They are recognized in the crypto community and are long-term advocates of the benefits of hardware wallets and their vast use cases. Becoming a shareholder of BCF is important as it structures the partnership for the long term," added Loic Poirier, chief executive officer of ARCHOS.
About Blockchain Foundry
Blockchain Foundry develops and commercializes blockchain-based business solutions and provides consulting services to corporate clients seeking to incorporate blockchain technology into their businesses.
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