AGORACOM Small-cap Investor Relations Blog

TORONTO, Dec. 01, 2020 – Blockchain Foundry Inc. (“BCF” or the “Company”) (CSE:BCFN), a leading North American blockchain development firm, is pleased to report its financial results for the three and nine months ended September 30, 2020. The Company’s full Financial Statements and Management Discussion & Analysis (“MD&A”) are available at www.sedar.com . All amounts are reported in Canadian dollars unless otherwise stated.

Financial Highlights

The following table summarizes revenue and net income (loss) for the three and nine months ended September 30, 2020 and September 30, 2019.

“In Q3 2020, BCF achieved positive net income and an increase in revenue compared with Q3 2019. This outcome was a direct result of increased client development activity as well as growing market acceptance of blockchain technology. The Company has five active clients in various project stages, and our pipeline is robust. We have also taken the opportunity to capitalize the business over the last few months. We are well positioned to continue expanding our consulting business and begin to explore product opportunities that take advantage of our significant expertise in the blockchain space,” said Dan Wasyluk, CEO of Blockchain Foundry.

Outlook

The Company continues to develop its suite of blockchain infrastructure technology products and build its blockchain development and advisory business.

On the product side, BCF is building core technology to enable highly scalable, low cost, high speed blockchain transactions (Z-DAG), allow users to incorporate multiple blockchain systems within the same project (Syscoin-Ethereum bridge), and initialize custom blockchain tokens (Spark Wallet). BCF’s technology infrastructure is suitable for a variety of use cases where speed, scalability, fees and security are important factors, including stablecoin projects, loyalty applications, digital identities, and remittance services.

On the advisory side, BCF endeavours to work with clients who share the same priorities and vision for what blockchain technology can achieve for governments, businesses and consumers. To date, BCF has worked with clients across industries including digital identity, financial services and token wallet and development infrastructure.

Q 3 2020 Business Highlights and Subsequent Events

• Entered into a blockchain development agreement with NIX Platform. The agreement has a duration of approximately 6 months and a value of approximately $60,000. For more information please see the Company’s press release dated September 1, 2020.
• Entered into a blockchain development agreement with a GDPR compliance solution provider. The initial phase of the agreement has a duration of approximately 4 weeks and a value of approximately $50,000. For more information please see the Company’s press release dated October 5, 2020.
• Entered into an agreement for a drawdown equity financing facility of up to $4 million over a 24-month period with Alumina Partners (Ontario) Ltd., a subsidiary of Alumina Partners LLC, a New York-based private equity firm. Subsequently, the Company has drawn down three tranches under this agreement for total gross proceeds of $450,000. For more information please see the Company’s press releases dated October 6, 2020; November 10, 2020; and November 30, 2020.

About Blockchain Foundry Inc.

Blockchain Foundry develops and commercializes blockchain-based business solutions and provides consulting services to corporate clients seeking to incorporate blockchain technology into their businesses.

Blockchain Foundry Contact Information:

Chris Marsh
President
[email protected]
(647) 330-4572

Forward-Looking Information

Certain portions of this press release contain “forward-looking information” within the meaning of applicable Canadian securities legislation, which is also referred to as “forward-looking statements”, which may not be based on historical fact. Wherever possible, words such as “will”, “plans,” “expects,” “targets,” “continues”, “estimates,” “scheduled,” “anticipates,” “believes,” “intends,” “may,” “could,” “would” or might, and the negative of such expressions or statements that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved, have been used to identify forward-looking information.

Forward-looking statements should not be read as guarantees of future events, future performance or results, and will not necessarily be accurate indicators of the times at, or by which, such events, performance or results will be achieved, if achieved at all. Readers should not place undue reliance on such forward-looking statements, as they reflect management’s current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by BCF are inherently subject to significant business, economic, regulatory, competitive, political and social uncertainties, and contingencies. Many factors could cause BCF’s actual results, performance or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking statements. Although BCF has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are made as of the date hereof and, accordingly, are subject to change after such date. BCF disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

SPONSOR POST:

BCFN:CSE

• A leading North American blockchain development firm
• 2020 H1 Revenue Of ~$900,000
  • 187% Year Over Year Growth
  • Positive Net Income
• Self sustaining consulting practice with growing pipeline and potential upside from product development and commercialization
• Partnered with Binance, the largest digital asset trading platform in the world, to leverage the Syscoin platform.
• A Blockchain company with Real Products, Real Customers, Real Revenues and Real Income
• Blockchain Foundry is a “Blockchain 2.0” company that has survived and will thrive  

Hub On AGORACOM / Corporate Profile

Common Types of Cryptocurrency that You Should Know

By Staff – 20 November 2020

Cryptocurrency is steadily winning grounds. You can use cryptocurrency as an investment or a means of payment. It’s a digital alternative to cash or credit cards to make everyday payments. In the past, the crypto business sounded scary. But many are now gaining trust and investing in the different types of cryptocurrencies available. 

What is blockchain cryptocurrency? 

Blockchain cryptocurrency is a digital asset that works as a medium of exchange. It’s different from the common traditional currencies in that it works on digital channels with strong encryption to secure all online financial transactions. The encryption layers also control the creation of additional units and also verify the transfer of assets. There are various types of blockchain cryptocurrencies such as: 

1. Bitcoin 

Bitcoin is one of the commonly used currencies. It’s perceived to be an original cryptocurrency and was created in 2009. Bitcoin uses blockchain technology and enables users to make peer-to-peer transactions. The transactions are secured through an algorithm within the blockchain. You can view the transactions, but only the bitcoin owner can decrypt it using a private key. 

Bitcoins are different from bank transactions in that there’s no central regulatory authority. The users manage and control the transactions, which allows for anonymous exchanges. You can use Bitcoin to pay bills using Bitcoin debit cards. You can also use Bitcoins in Bitcoin licensed casinos to pay for poker and slot games. 

2. Litecoin 

Litecoin is a Bitcoin alternative, which was launched in 2011. Like other cryptocurrencies, it’s an open-source and a global payment network. Is there a difference between Litecoin and bitcoin? Yes, some are listed below;
Litecoin offers faster transaction times than bitcoin
The coin limit for Litecoin is 84 million, while the limit for Bitcoin is 21 million.
Both use different algorithms; Litecoin is a scrypt, while Bitcoin is SHA-256. 

3. Bitcoin Cash 

Bitcoin cash is a type of digital currency. It was designed to enhance some of the Bitcoin features and came with many gains. The cryptocurrency was launched in 2017 and enhanced the block sizes, enabling more and faster transactions. The launch of Bitcoin Cash was supported by some key Bitcoin investors, such as Roger ver, who was for the idea that Bitcoin’s block size limit inhibits its ability to scale or accrue value. 

4. Stellar Lumen 

Stellar Lumen operates as an intermediary currency and facilitates currency exchange. It’s borderless and allows for exchanges between different currencies from one owner to another. With Stellar, you can create, send, and trade in different digital forms of money, pesos, dollars, Bitcoin, and many more. It allows the world’s financial systems to operate on a single network. 

5. Ethereum 

Ethereum is an open-source platform and a type of blockchain technology lanced in 2015. Ethereum is accessible worldwide, and you can use it to write codes that control digital values and run as programmed. 

It helps in the tracking of ownership of digital currency transactions. It also runs the programming code on decentralized applications allowing application developers to use the Ethereum network for paying the transaction fees and services. 

Conclusion 

Cryptocurrencies are now used as a payment mode, and you can use them to pay bills in places that allow such transitions. To trade in cryptocurrency, choose an exchange wisely. Besides, cryptocurrencies aren’t regulated by a centralized body.

Source:https://www.the-blockchain.com/2020/11/20/common-types-of-cryptocurrency-that-you-should-know/