Digital currency may have a limited lifespan but the launch of corporate coins or tokens and the blockchain technology behind it will be winners
Momentum Public Relations
Blog: April 10 2018
If you don’t keep up with the world there is a tendency to be left behind. That thought may come back to haunt those who are scorning the topsy-turvy world of cryptocurrency. Then again the naysayers may be right to scorn digital currencies.
In a CNBC interview aired on January 10, 2018, billionaire investor Warren Buffet, sometimes known as the Oracle of Omaha said that cryptocurrencies are headed for trouble.
“We’ll never have a position in them,” Buffett, chairman and CEO of Berkshire Hathaway, told CNBC’s “Squawk Box.” “I can say with almost certainty that they will come to a bad ending.”
Financial Post columnist Diane Francis sees investing in cryptocurrencies much like investing in Canadian Tire money and the biggest scandal since Bre-X.
Christine Lagarde, head of the International Monetary Fund, believes that unless cryptocurrencies are regulated they will become an oasis for money laundering and a method for financing terrorism.
Cryptocurrencies began life in 2010 when Bitcoins were launched as a digital currency independent of any regulatory agency. To say they have captured the imagination of investors is to understate the situation. According to Digital Trends there are 1,300 cryptocurrencies in existence. Among them are Dash, Ethereum, Einsteinium, Litecoin and Plasma. Some cryptocurrencies have turned out to be nothing more than frauds.
According to the CBC, Canadians lost C$1.7 million dollars to cryptocurrency fraud in 2017, double the amount lost in 2016. And then there are the cyberjackings that take place when cyberminers hijack your computer network and use it to mine bitcoins or some other cryptocurrency. In a Globe and Mail story, Troy Mursch was quoted as saying that up to 50,000 web sites had been taken over to mine cryptocurrencies. These included the websites of the Information and Privacy Commissioner of Ontario and a number of municipal websites.
None of this appears to have quenched investors’ thirst for what some see as a valueless security. On March 23, 2018, The Toronto Star ran a story announcing that the owners of the TSX, TMX Group, through its subsidiary, Shorcan Digital Currency Network, was launching a cryptocurrency brokerage service. The new service will focus on Bitcoins and Ethers.
While people like Diane Francis and Warren Buffet scorn and avoid cryptocurrencies, other believe its time may have come. On February 23, 2018, CNBC published a financial commentary by Julian Hosp called, Five Reasons 2018 could be the best year yet for cryptocurrenices. To be fair, Hosp, who is heavily invested in Bitcoins, has also written a commentary for CNBC called Four triggers could cause a cryptocurrency crash. Hosp knows about cryptocurrency. He cofounded TenX which provides debit cards that people can use to spend their cryptocurrency. TenX has also issued a large Initial Coin Offering or ICO.
ICOs are the way that digital currencies are launched. To say that digital currencies have blown a breath of fresh air through the investment community would be an understatement. In one way or another, individual companies are jumping on the bandwagon and finding ways to take advantage of the situation.
Digital currencies are driven by blockchain technology where separate nodes all store essential ledger information. In order for a transaction to go ahead, it has to be verified in all the nodes. The information is encrypted and there are only two keys. One key is held by the digital currency and one key is held by the individual currency owner. This makes the currency or process tamperproof and provides a secure payment network. The ability to provide a very secure payment network is perhaps the chief attraction of digital currency.
On January 11, 2018, ATWTech, (TSXV:ATW), announced that it had partnered with the Einsteinium Foundation, EMC2 to launch Einsteinium coins, a cryptocurrency. ATWTech is a carrier billing company that is heavily invested in interactive communication. It provides telephone voting services for television shows and texting services that provide appointment alerts to consumers for the Quebec Ministry of Health, among other activities.
In order to diversify its payment options, Voxtel, a subsidiary of ATW Tech, plans to implement EMC2 cryptocurrency in all its platforms such as mobile donations, social communities, messaging, gaming and voice services. The Einsteinium cryptocurrency may as yet, be the only cryptocurrency with an altruistic bent. Its objective is to fund scientific research, advanced IT research and advance cryptocurrency projects.
One of the most interesting developments that digital currency has produced may be its use as a way to finance corporate development. Canadian Oil and Gas junior Hillcrest Petroleum (TSXV: HRH), announced in late January that it has signed an agreement with Entoro Capital to establish a digital Initial Coin Offering, ICO. The Hillcrest digital currency would be based on future revenue from its oil and gas business.
Hillcrest believes that launching an asset backed digital currency could provide it with substantial development funding and open the doors to a broader swath of investors.
As Hillcrest CEO Don Currie said in the press release announcing the decision, “The investment community has been extremely supportive of alternate currencies and Hillcrest looks forward to participating in this new and rapidly evolving investment process.
If the Bitcoin bubble does break, chances are that digital currencies will survive as an alternative financing mechanism when they are backed by real assets, as is the case with Hillcrest.
Relevium Technologies, (TSXV:RLV), a wellness and health care products aggregator, sees a slightly different angle in digital currencies. While it too is contemplating launching an ICO, it appears much more keen to use the blockchain technology that keeps digital currency transactions secure to ensure the security of its online transactions.
Whether or not cryptocurrencies are fated to fall as quickly as they rose is a moot point. On the surface investing in Bitcoins and the like does seem to be an advanced case of the Emperor’s new clothes.
Corporate tokens or coins, on the other hand, may very well have a long life because they are asset based, offer a new financing method for junior companies and in the end may very well prove to be the new form of company shares, with the advantage that you won’t have to go through a stock exchange to purchase or sell them.
Given that cryptocurrencies are havens for fraud and money laundering, that the bubble may or may not burst at any moment, the wise investor may see corporate tokens and blockchain technology companies as the best safe investments in the digital currency environment.
Check out our recent post, A Bitcoin Primer
- Published in Blog
St-Georges’ Subsidiary ZeU Crypto Networks Signs Letter of Intent to Acquire all Qingdao Tiande Technologies’ Assets
Momentum Public Relations
Press Release: January 15, 2018
St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) announces that its wholly owned subsidiary, ZeU Crypto Networks Inc. (“ZeU “), a private blockchain technology company, has entered into a non-binding letter of intent (“LOI” ) to acquire all of the Blockchain and Smart Contract Technologies assets (the “Transaction” ) of Qingdao Tiande Technologies Inc. (“Tiande “), a Chinese private company.
Pursuant to the terms of the LOI, the proposed consideration for the Transaction is an aggregate amount of CND$150 million payable through the issuance of 150,000,000 common shares (“Shares” ) and 75,000,000 Shares purchase warrants (“Warrants “) in the capital of ZeU. Each Warrant will entitle the holder to acquire one (1) Share at a price of CND$1.00 for a period of three (3) years following the date ZeU completes a transaction pursuant to which its common shares will either be listed on a recognized stock exchange in North America, or will be exchanged for common shares of a reporting issuer listed on a recognized stock exchange in North America.
On January 4, 2018 St-Georges (the “Company”) announced it was granted an exclusive global license to Tiande’s Blockchain and Smart Contract technology for mineral commodity production, trading and tracking. The Company assigned the License to ZeU in consideration of 20,000,000 common shares of ZeU. Whereas St-Georges owned 100% of ZeU with a license specific to the mineral commodity space, upon successful completion of the transaction, St-Georges will share ownership in ZeU, with global application reach.
” We are thrilled to enter into this agreement with Tiande and their world class scientific team. Dr. Tsai has laid out a plan to deploy what many industry experts believe to be a world class Blockchain ecosystem that stands at the threshold of a new, far-reaching technological revolution. The assets being acquired today, from the patents to the commercial and sovereign relationships and the significant human capital, are second to none in the domain. Our Ecosystem is ready to be deployed in this quarter, starting with the SandBox initiative and quickly followed by the BigData suite of solutions. Finally, the biggest and most significant mass application project, The “Internet of Blockchains” (IoB), will be released before the end of 2018. Response to IoB in every meeting with industry specialists has been significant and, in some cases, has triggered discussions into the realm of what was once unimaginable” said Frank Dumas, CEO and President of St-Georges and ZeU.
The Transaction is anticipated to close on or before February 28, 2018 with a definitive purchase agreement being entered into on or before February 5, 2018. The Transaction is subject to the approval of the Canadian Securities Exchange and certain conditions pursuant to the terms of the LOI, including the completion of a CND$20 million financing on term acceptable to ZeU and satisfactory due diligence.
ON BEHALF OF THE BOARD OF DIRECTORS
“Frank Dumas”
FRANK DUMAS, PRESIDENT & CEO
About St-Georges
St-Georges is developing new technologies to solve the some of the most common environmental problems in the mining industry.
The Company controls directly or indirectly, through rights of first refusal, all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec’s North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi region. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1.
For Press Release Inquiries: 514.295.9878 or ceo@stgeorgesplatinum.com
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
- Published in crypto, St-Georges Eco-Mining, Technology
ATW Tech Announced a Partnership With Einsteinium Foundation (EMC2) for Its Cryptocurrency
Momentum Public Relations
Press Release: January 11, 2018
ATW Tech (“AtmanCo” or the “Company”) (TSX-V:ATW) is proud to announce a global partnership with the Einsteinium Foundation (EMC2) for the launch of the Einsteinium currency billing by mobile phone.
In order to diversify its payment options, Voxtel, a subsidiary of ATW Tech, plans to implement EMC2cryptocurrency in all its platforms such as mobile donations, social communities, messaging, gaming and voice services.
A 4-phase deployment plan will include the following steps:
- Einsteinium will integrate Voxtel’s payment gateway in order to buy, exchange or transfer Einsteinium coins.
- Voxtel and EMC2 will be implementing a mobile wallet, E-Wallet and voice wallet easily accessible for Voxtel users.
- Peer to peer exchange Einsteinium currency through Voxtel chat and gaming communities.
- Build a path to Einsteinium convertibility into major currencies such as Canadian dollar, US dollar and Euro.
Einsteinium cryptocurrency could provide Voxtel’s payment platform enormous autonomy from any carrier or regulator. This global partnership will be the insurance to reach wider audience and will simplify transactions between users.
« We are proud to integrate this very promising and well-known cryptocurrency to our global Unified Payment Solutions (UPS) platform which already includes voice billing, direct carrier billing, credit card and interac. This would allow us to offer turnkey payment solutions and expand our customer base » said Michel Guay, President and founder of ATW Tech.
« We at EMC2 would like to thank our community for the tremendous support and Voxtel for the opportunity to be able to benefit from its users worldwide. After a year of hard work, we are very excited about the growth this will bring to both the Einsteinium Foundation and Voxtel billing integration as well as the adoption of crypto currency as a whole », said Jonathan Lauzière, Board member and Treasurer of EMC2.
Additional information regarding the Company is available on SEDAR www.sedar.com. The TSX Venture Exchange and its Regulatory Services provider (as per meaning assigned to this term in TSX Venture Exchange’s policies) bear no liability as to the relevance or accuracy of this press release.
ABOUT EMC2
Einsteinium coin is a Bitcoin-like currency with a philanthropic objective of funding scientific research, cutting edge IT and crypto currency projects. The EMC2 coin is released by the Einsteinium Foundation. The Einsteinium Foundation (EMC2) is embarking on a truly ambitious project that will likely change how cryptocurrency (CC) is viewed outside of the CC universe. Similar to the Bitcoin, Einsteinium is a distributed peer-2-peer digital currency released without any premium. EMC2 implements the primary innovation of wormhole mechanics to reward long term miners. Each wormhole event occurs randomly during each epoch and is 180 blocks long, with a reward of 2970 EMC2 per block.
ABOUT ATW TECH
ATW Tech (‘AtmanCo’) (TSX-V:ATW) is a leader in information technology, owner of several web platforms including VoxTel, Québec Rencontres, VuduMobile, Atman and Bloomed. VoxTel offers various interactive landline and mobile carrier billing phone solutions. Quebec Rencontres is a web and mobile social network application catered to building serious and sustainable relationships. VuduMobile is specialized the text messaging business for enterprises through its unique, user-friendly and bilingual test messaging application et turnkey solution allowing management of text message management programs in all kind of businesses. Atman and its APIs enable companies to optimize their human capital. Bloomed is a cloud-based platform to manage data (smart data) on consumers and their behaviors, which is developed for marketing agencies and their campaigns for the consumer and corporate markets.
SOURCE:
ATW TECH (AtmanCo) Michel Guay Founder, president and CEO Tel.: 514.935.5959 ext. 301 mguay@atwtech.com www.atwtech.com |
Simon Bédard, CA, CPA, CFA, MBA CFO Tel. : 514.935.5959 ext. 304 sbedard@atwtech.com |
- Published in Atmanco