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360 Blockchain Inc
Symbol C : CODE
Shares Issued 113,679,111
Close 2017-12-06 C$ 0.25
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360 Blockchain to acquire stake in blockchain platform

2017-12-07 06:21 ET - News Release

Mr. George Tsafalas reports


360 Blockchain Inc. plans to make an investment in Arcology, a first-of-its-kind blockchain platform from start-up Capital Blocktech Inc. based in Alberta.

By utilizing machine-learning and pattern-recognition technology to create hierarchical blockchain structures, Arcology will solve the problems that plague current market leaders, such as speed and scalability. Arcology inventor Laurent Zhang will lead the development, utilizing the 360 investment with the support of 360's leadership and advisers:

  • Arcology will be initially financed by a $1-million equity injection, which will entitle 360 to shares equal to 30 per cent of the then-issued and outstanding shares.
  • Subject to the terms, Arcology will be financed up to $2-million by 360; the full $2-million will entitle 360 to the number of shares equal to 51 per cent of the then-issued and outstanding shares.

"Laurent Zhang has invented a unique blockchain technology that self-organizes and self-recovers, and we're thrilled to lead the investment," said Jeff Koyen, 360's strategic adviser. "We see a bright future for his radically new network structure. It will create global market opportunities for both private and public applications."

Mr. Zhang is a visionary and innovator with technical expertise and leadership in blockchain technologies, cryptocurrencies, distributed system design, artificial intelligence, algorithm optimization and performance tuning.

Mr. Zhang has served as vice-president of engineering for QuickFlo Health Inc.; chief technology officer for HPIS Technologies; research scientist for Baker Hughes Inc.; University of Alberta research engineer; and manager and senior engineer for MKS Instruments. He has an MSc in intelligent systems from University of Sunderland, United Kingdom, and a BSc, honours, in computing from Oxford Brookes University, U.K.

"In identifying this opportunity, 360 will help advance blockchain technology to where it needs to be in a decade, not just years, from now," said George Tsafalas, 360 president and chief executive officer. "The blockchain revolution is just beginning, and we're proud to be at its forefront."

About 360 Blockchain Inc.

360 Blockchain has an all-round view to accelerate the development and application of revolutionary blockchain technologies by investing capital and expertise. The company is founded on the belief that blockchain technology, essentially a distributed ledger which is transparent and incorruptible, has the potential to transform the way business is conducted, delivering security, cost savings and efficiency gains not seen before in the Internet-connected world. 360 Blockchain will be focused upon identifying and empowering blockchain technologies applying to cryptocurrencies, smart contracts, e-sports, data management, the Internet of things, equity trading, privacy applications and beyond.

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