Global Blockchain Announces Dubai-Based Subsidiary to Develop Distributed Ledger (Blockchain) Technology Services and Solutions Within the DMCC Free Trade Zone
VANCOUVER, British Columbia, Aug. 16, 2018 (GLOBE NEWSWIRE) -- GLOBAL BLOCKCHAIN TECHNOLOGIES CORP. (CSE: BLOC, BLOC.CN, BLOC.CNX) (FSE: BWSP) (OTC: BLKCF) ("BLOC" or the "Company") is pleased to announce that its 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 multi-national 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, who can now partner with BTD to take advantage of the United Arab Emirates’s strategy to accelerate the development of blockchain technology.
BLOC 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 CFO 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 license, 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 license 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 BLOC 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 BLOC team and the growing recognition of the suite of talents housed within BLOC, that dynamically affect blockchain integration. With an experienced management team that has been involved in the blockchain ecosystem from its infancy, we believe that we 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.
On behalf of the Company:
Theo van der Linde, CFO
For more information, please contact:
IRTH Communications, LLC
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. BLOC is listed on the Canadian Securities Exchange (“CSE”) and its common shares trade under the ticker symbol "BLOC."
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved”. Forward-looking information includes, but is not limited to the Company’s goal of streamlining the current arduous, lengthy and complicated process that interested investors need to undergo in order to gain exposure to the blockchain space with a view to becoming the first vertically integrated originator and manager of top-tier blockchains. The Company has no assets and its business plan is purely conceptual in nature and there is no assurance that it will be implemented as set out herein, or at all. Forward-looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made, including but not limited to: statements and expectations regarding the ability of the Company to (i) successfully engage senior management with appropriate industry experience and expertise (ii) execute on future M&A opportunities in the blockchain space; receipt of required regulatory approvals; the availability of necessary financing; permitting and such other assumptions and factors as set out herein. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks related the estimation of personnel and operating costs; general global markets and economic conditions; risks associated with uninsurable risks; risks associated with currency fluctuations; competition faced in securing experienced personnel with appropriate industry experience and expertise; risks associated with changes in the financial auditing and corporate governance standards applicable to blockchain; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalization and liquidity risks including the risk that the financing necessary to fund continued development of the Company’s business plan may not be available on satisfactory terms, or at all; the risk of potential dilution through the issuance of additional common shares of the Company; the risk of litigation. Although the Company has attempted to identify important factors that could cause actual results to differ materially from the forward-looking information set out in this presentation, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Released August 16, 2018