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Blockchain Foundry Inc
Symbol C : BCFN
Shares Issued 70,395,148
Close 2019-05-29 C$ 0.105
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Blockchain Foundry to develop real estate platform

2019-05-30 10:17 ET - News Release

Mr. Christopher Marsh reports

BLOCKCHAIN FOUNDRY AND NOTEBLOCK PARTNER TO DEVELOP TOKENIZED REAL ESTATE PLATFORM

Blockchain Foundry Inc. has entered into the first phase of a blockchain development and marketing agreement with Noteblock, a blockchain-based tokenized real estate lending firm based in Detroit, Mich. Valued at $170,000, the agreement is for Blockchain Foundry to assist Noteblock with development, solution design, technical expertise, marketing and public relations for its project.

According to the Urban Institute, $1.75-trillion in new mortgages were originated in the United States in 2017. Noteblock is a blockchain-powered platform that is set to disrupt this market by giving users the ability to originate, service and trade real estate-backed loans by leveraging a secure, streamlined, user-friendly peer-to-peer marketplace. Noteblock offers investors and borrowers the benefits of lower costs and extreme liquidity by cutting out costly third party intermediaries.

"Noteblock chose Blockchain Foundry for lead development because they are highly experienced and some of the smartest people in the industry. We are excited to partner on this project and look forward to continuing our work together," said Justin Fata, director of business development for Noteblock.

"Noteblock presents a solution to today's tedious mortgage process and we are thrilled that they have chosen our firm to deliver the blockchain components of their project," said Marc Nicholson, chief sales officer for Blockchain Foundry.

About Blockchain Foundry Inc.

Headquartered in Toronto, Canada, Blockchain Foundry is a global blockchain consulting and development firm. Blockchain Foundry develops and commercializes decentralized ledger technology, custom blockchain solutions and smart contracts for enterprise clients.

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