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Blockchain Foundry $BCFN.ca Expands Leadership Team with Key Management Hires $HUT.ca $BITF.ca $GLXY.ca $HIVE.ca $VYGR.ca

Posted by AGORACOM-JC at 8:19 AM on Monday, April 19th, 2021
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  • Announced that it has expanded its leadership team with two key management hires who joined the Company today
  • Fulvio Ciano is joining the Company as Director of Software Development Consulting & Delivery and will be responsible for all aspects of BCF’s consulting practice and associated software delivery.
  • Mr. Ciano is a seasoned software executive with decades of experience managing delivery teams
  • Peter Jubb is joining the Company as Executive Creative Director and will be responsible for all aspects of BCF’s product design, branding, and creative content

TORONTO, April 19, 2021 — Blockchain Foundry Inc. (“BCF” or the “Company”) (CSE:BCFN), a leading North American blockchain development firm, is pleased to announce that it has expanded its leadership team with two key management hires who joined the Company today.

Fulvio Ciano is joining the Company as Director of Software Development Consulting & Delivery and will be responsible for all aspects of BCF’s consulting practice and associated software delivery. Mr. Ciano is a seasoned software executive with decades of experience managing delivery teams.

Peter Jubb is joining the Company as Executive Creative Director and will be responsible for all aspects of BCF’s product design, branding, and creative content. Mr. Jubb has over 20 years’ experience as a creative director and information architect and brings a wealth of practical experience to the team.

Mr. Ciano and Mr. Jubb will both join the Company’s executive committee and will have direct input into BCF’s strategy going forward.

“We are excited to welcome Fulvio and Peter to the BCF team, and we look forward to their contributions as we continue to grow the business,” said Dan Wasyluk, CEO of BCF. “We are in the process of expanding into new product areas while continuing to grow our established consulting business, and these new additions to the team will dramatically accelerate our growth trajectory.”

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.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities law and may not be offered or sold in the “United States”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.

Blockchain Foundry $BCFN.ca Invests CAD$1 Million to Purchase 2.2 Million Syscoin for Treasury; Total Syscoin Treasury Reaches Approximately 6.4 Million Syscoin Tokens $HUT.ca $BITF.ca $GLXY.ca $HIVE.ca $VYGR.ca

Posted by AGORACOM-JC at 9:44 AM on Tuesday, April 6th, 2021
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  • Announced that it has acquired 2,223,215 Syscoin tokens which it intends to hold as a long term asset.
  • The Company purchased these Syscoin tokens for approximately C$0.45 per token for a total of CAD$1 million.
  • This investment brings BCF’s total Syscoin treasury holdings to approximately 6,353,607 Syscoin, worth approximately CAD$3 million at current market rates 1 .
  • The Company “stakes” its current Syscoin balances and intends to stake its additional Syscoin holdings.
  • Staking currently generates an annual return of approximately 5.71% 2 , increasing to approximately 7.71% after tokens have been staked for one year.

TORONTO, April 06, 2021 — Blockchain Foundry Inc. (“BCF” or the “Company”) (CSE:BCFN), a leading North American blockchain development firm, is pleased to announce that it has acquired 2,223,215 Syscoin tokens which it intends to hold as a long term asset. The Company purchased these Syscoin tokens for approximately C$0.45 per token for a total of CAD$1 million. This investment brings BCF’s total Syscoin treasury holdings to approximately 6,353,607 Syscoin, worth approximately CAD$3 million at current market rates 1 . The Company “stakes” its current Syscoin balances and intends to stake its additional Syscoin holdings. Staking currently generates an annual return of approximately 5.71% 2 , increasing to approximately 7.71% after tokens have been staked for one year.

BCF believes strongly in the future of Syscoin, its growing market acceptance as a blockchain infrastructure ecosystem, and its future valuation potential. The Company is a core contributor to the open source Syscoin protocol and has also created proprietary applications that rely on the Syscoin ecosystem. Going forward, BCF intends to create decentralized finance applications, including NFT systems, using Syscoin’s infrastructure.

On April 30, 2021 3 , the Syscoin protocol will have its first upgrade since December 2019, upgrading to Version 4.2, known as Syscoin LUX (“LUX”). LUX will introduce several cutting-edge features into Syscoin, including zero-fee layer 2 smart contract functionality, fractional and non-divisible NFT capabilities and notary features which allow for customizable payment rules defined off-chain to be enforced at the core blockchain level. LUX will also preserve Z-DAG, Syscoin’s patent pending high-throughput transaction technology which allows for more than 140,000 transactions per second at scale.

“We are pleased to be making a substantial financial investment in Syscoin as we look forward to the upcoming release of Syscoin LUX. Creating strong economic alignment between the Company’s Syscoin-related efforts and the potential appreciation of the Syscoin token is important so that BCF shareholders can directly benefit from increasing adoption and acceptance of the Syscoin token and infrastructure as enabled by BCF products and open source contributions,” said Dan Wasyluk, CEO of BCF.

Commenting further, Mr. Wasyluk added, “our enterprise software and decentralized finance product strategies rely on using Syscoin blockchain infrastructure for our product offerings, and investing financially in the success of the ecosystem allows our shareholders to directly benefit from this growth. The innovative features BCF has contributed to LUX are a direct response to the needs of our clients and cover a wide variety of use cases. These new features will serve as the backbone for certain BCF products. Additionally, LUX will enable developers to create applications powered by Syscoin Platform Tokens using the same languages and tools with which they’re already familiar.”

LUX enhances the core offering of Syscoin as a scalable, versatile and innovative blockchain platform and for the first time includes major new features sourced directly from BCF’s consulting practice, a real-world touch point unique to BCF’s strategy. The Company expects that LUX and the related products and use cases it supports will further enhance BCF’s reputation as a leading blockchain technology company and contribute further to BCF’s growth and the overall growth and acceptance of the Syscoin ecosystem.

Read More: https://agoracom.com/ir/BlockchainFoundry/forums/discussion/topics/758572-blockchain-foundry-invests-cad-1-million-to-purchase-2-2-million-syscoin-for-treasury-total-syscoin-treasury-reaches-approximately-6-4-million/messages/2310960#message

Blockchain Foundry $BCFN.ca Announces CAD$10 Million Private Placement with Institutional Investors $HUT.ca $BITF.ca $GLXY.ca $HIVE.ca $VYGR.ca

Posted by AGORACOM-JC at 8:44 AM on Monday, March 8th, 2021
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  • Entered into a securities purchase agreement with certain institutional investors to issue in a private placement 29,792,595 common shares (“Common Shares”) and warrants to purchase up to 29,792,595 Common Shares (“Warrants”), at a purchase price of CAD$0.3375 per Common Share and associated Warrant
  • Gross proceeds to BCF of approximately CAD$10 million

TORONTO, March 07, 2021 — Blockchain Foundry Inc. (“BCF” or the “Company”) (CSE:BCFN), a leading North American blockchain development firm, is pleased to announce that it has entered into a securities purchase agreement with certain institutional investors to issue in a private placement 29,792,595 common shares (“Common Shares”) and warrants to purchase up to 29,792,595 Common Shares (“Warrants”), at a purchase price of CAD$0.3375 per Common Share and associated Warrant, for gross proceeds to BCF of approximately CAD$10 million (the “Private Placement”). The Warrants have an exercise price of CAD$0.45 per Common Share and may be exercised at any time prior to the fifth-year anniversary of the issuance date.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the Private Placement.

The Private Placement is expected to close on or about March 10, 2021, subject to satisfaction of customary closing conditions, including receipt of all necessary corporate and regulatory approvals, including Canadian Securities Exchange approval.

The net proceeds of the Private Placement will be used by the Company for working capital and general corporate purposes, including, without limitation, hiring of development and other personnel, marketing the Company’s products and services and repayment of debt.

H.C. Wainwright & Co. will be paid a cash commission of 8.0% of the gross proceeds raised in the Private Placement and issued warrants (the “Broker Warrants”) to purchase up to an aggregate of 8.0% of the number of Common Shares placed in the Private Placement. Each Broker Warrant will have an exercise price of CAD$0.45 per Common Share and may be exercised at any time prior to the fifth year anniversary of the issuance date.

Read More: https://agoracom.com/ir/BlockchainFoundry/forums/discussion/topics/756800-blockchain-foundry-announces-cad-10-million-private-placement-with-institutional-investors/messages/2307027#message

Blockchain Foundry $BCFN.ca DeFi Strategy, Enterprise Development Initiatives and New Customer Acquisitions $HUT.ca $BITF.ca $GLXY.ca $HIVE.ca $VYGR.ca

Posted by AGORACOM-JC at 9:00 AM on Wednesday, March 3rd, 2021
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  • Company is actively pursuing a two-pronged strategy to roll out products in the decentralized finance (“DeFi”) space and more traditional enterprise software solutions which leverage blockchain capabilities.
  • DeFi is a new area of blockchain technology that uses smart contracts to perform operations that would typically be performed by centralized entities or a series of intermediaries.
  • BCF has been actively evaluating blockchain-enabled product opportunities in several industry verticals, including remittances, loyalty applications and digital identities.

TORONTO, March 03, 2021 — Blockchain Foundry Inc. (“BCF” or the “Company”) (CSE:BCFN), a leading North American blockchain development firm, is pleased to provide an update on its product strategy, development initiatives and new customer acquisitions.

Product Strategy

The Company is actively pursuing a two-pronged strategy to roll out products in the decentralized finance (“DeFi”) space and more traditional enterprise software solutions which leverage blockchain capabilities.

Decentralized Finance (DeFi) Initiatives

DeFi is a new area of blockchain technology that uses smart contracts to perform operations that would typically be performed by centralized entities or a series of intermediaries. Some examples of DeFi applications include:

  • Non-fungible tokens (“NFTs”), representing unique items such as works of art, digital collectibles or in-game items;
  • Automatic trading, market making and liquidity pools for digital assets;
  • Insurance contracts triggered automatically by pre-specified events and conditions; and
  • Stablecoins which are pegged to fiat currencies, precious metals or other traditional asset classes.

Most DeFi applications are built on the Ethereum blockchain. As discussed in previous Company disclosure, BCF has been a major contributor to the open source Syscoin blockchain protocol, which has cost, speed, security and scalability advantages over many public blockchains, including Ethereum.

BCF is assisting with the development efforts for the next release of Syscoin, version 4.2, which is expected to be released by April 30, 2021. Syscoin 4.2 will feature support for NFTs, a commonly requested feature by BCF clients, and will lay the groundwork for future Syscoin innovations, including Syscoin’s Network-Enhanced Virtual Machine (“NEVM”). NEVM is an improved version of Ethereum’s Virtual Machine (“EVM”) and serves as the backbone for smart-contract execution within the Syscoin ecosystem. NEVM will provide better security, speed and scalability through the use of zero-knowledge proofs (“ZKPs”) 1 .

Key to the Company’s strategy is enhancing the Syscoin protocol in ways which allow BCF to operate decentralized finance applications in much more efficient ways than are currently possible on today’s public blockchains. Over the next 3-6 months, the Company intends to release an initial DeFi solution to be developed on Ethereum or Binance Smart Chain. This initial DeFi implementation is expected to have lower fees than competing products due to the Company’s unique expertise in ZKPs in combination with Layer 1 and 2 systems which will be adapted to this solution. Competing DeFi products, most notably products like Uniswap, Balancer, Kyberswap and 1Inch, charge a fee based on the transactional volume processed by the platform. Uniswap charges a fee of 0.3% and frequently handles more than $1 billion in daily trading volume and processes over 100,000 daily transactions 2 . On the current Ethereum network, 100,000 transactions would cost approximately $300K compared with less than $1 for the same number of transactions on the Syscoin network 3 .

Many DeFi applications are difficult to use, prone to scams and fraud and generally do not appeal to mainstream users. BCF intends to leverage its expertise in developing consumer and enterprise solutions for clients to distinguish its offering from others on the market and appeal to a mainstream audience.

BCF’s initial DeFi release will be deployed, tested and improved upon throughout 2021 with the intention of releasing a more scalable, faster and cheaper implementation on Syscoin as soon as the underlying Syscoin architecture is ready for deployment, currently estimated for Q4 2021 or Q1 2022.

Enterprise Development Initiatives

BCF has been actively evaluating blockchain-enabled product opportunities in several industry verticals, including remittances, loyalty applications and digital identities. For each use case, the Company has been engaging with potential industry partners who would be the initial users of any products developed by BCF and who would assist the Company in its roll out of these products to enterprise users. The Company continues to evaluate enterprise use cases and partnerships and will provide updates to the market as these initiatives progress.

New Customer Acquisition

In addition to its product development strategy, the Company continues to provide consulting and development services to projects where it believes it has a strong technological advantage and can add value for its clients.

BCF has recently engaged in two solution design projects, one for a carbon exchange product using a digital asset to represent sequestered carbon, and another project building an NFT platform to track the popularity of music, movies and TV shows and produce a corresponding payout. Both of these projects represent innovative use cases for blockchain technology and BCF looks forward to completing these solution designs and beginning work on full scale design and implementation proposals for these clients.

Is #blockchain coming to your bank? – SPONSOR: Blockchain Foundry $BCFN.ca $HUT.ca $BITF.ca $GLXY.ca $HIVE.ca $VYGR.ca

Posted by AGORACOM-JC at 4:00 PM on Friday, January 8th, 2021

SPONSOR POST:

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BCFN:CSE

  • A leading North American blockchain development firm
  • Revenue for 1st 9 months of 2020 ~ $1.1M
    • 113% 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

Is blockchain coming to your bank?

  • On Wednesday evening, the collective value of all cryptocurrencies crossed $1T (with a frickin “T”). And on Thursday, Bitcoin, the most prominent coin, hit $40k — 2x its price from just a month ago.
  • While these are huge milestones for the industry, it may not even be the most consequential ones of the week.
  • The Office of the Comptroller of the Currency (OCC) — a bank-regulating bureau within the Treasury Department — has issued guidance saying banks may adopt certain blockchain technologies.

By: Trung T. Phan

On Wednesday evening, the collective value of all cryptocurrencies crossed $1T (with a frickin “T”). And on Thursday, Bitcoin, the most prominent coin, hit $40k — 2x its price from just a month ago.

While these are huge milestones for the industry, it may not even be the most consequential ones of the week.

The Office of the Comptroller of the Currency (OCC) — a bank-regulating bureau within the Treasury Department — has issued guidance saying banks may adopt certain blockchain technologies.

Specifically, chartered banks can deploy stablecoins, which are more… er… stable than other crypto because they’re pegged to other assets.

The OCC has been very forward-looking on payments…

… since a former Coinbase executive, Brian Brooks, took over the bureau in May 2020.

According to Forbes, Brooks has previously:

  • Issued guidance allowing banks to custody cryptocurrencies
  • Created a special payment charter for fintech firms

One DC lawyer said the OCC was similarly ahead of the pack on internet banking, and the latest guidance (AKA an interpretative letter) will help make crypto more mainstream.

What does this really mean?

Jeremy Allaire, CEO of blockchain payments startup Circle, says the OCC’s move is important because it:

  • Allows banks to treat blockchain like other payments infrastructure (e.g., SWIFT, ACH)
  • Enables banks to use decentralized and faster settlement technology
  • Creates a path for the US to create its own digital currency (AKA a “USDC”)

Furtner, Forbes notes that there’s a huge opportunity to improve the speed of cross-border transactions if US banks deploy blockchain.

The changes are happening too fast for some

In November, 6 members of Congress criticized the OCC for moving “unilaterally” on crypto regulation.

The OCC itself acknowledges that banks must expand “compliance programs” to deal with any blockchain-related transactions.

Meanwhile, another US bureau with the Treasury Department, the Financial Crimes Enforcement Network (FinCEN), released more stringent rules on data collection for digital wallets.

Crypto is moving fast, but there are still some hurdles to clear until the next trillion (with a frickin’ “T”) in market value is created.

Source: https://thehustle.co/01082021-blockchain-banks/

Blockchain Foundry $BCFN.ca Announces Private Placement Financing and Provides Corporate Update $HUT.ca $BITF.ca $GLXY.ca $HIVE.ca $VYGR.ca

Posted by AGORACOM-JC at 9:40 AM on Wednesday, January 6th, 2021
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  • Company issued 3,555,556 Units at a price of $0.225 per Unit for gross proceeds of $800,000. Each Unit is comprised of one common share (each a “Common Share”) and one Common Share purchase warrant (a “Warrant”).
  • Each Warrant entitles the holder thereof to purchase one Common Share (each, a “Warrant Share”) at a price of $0.30 per Warrant Share for a period of 24 months following the closing of the Private Placement.

TORONTO, Jan. 06, 2021 — Blockchain Foundry Inc. (“BCF” or the “Company”) (CSE:BCFN), a leading North American blockchain development firm, is pleased to announce that it has closed a non-brokered private placement (the “Private Placement”) of units (the “Units”) with a group of strategic investors. The Company issued 3,555,556 Units at a price of $0.225 per Unit for gross proceeds of $800,000. Each Unit is comprised of one common share (each a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share (each, a “Warrant Share”) at a price of $0.30 per Warrant Share for a period of 24 months following the closing of the Private Placement. In connection with the Private Placement, the Company will pay a finder’s fee equal to 7% of the gross proceeds of the Private Placement.

As at September 30, 2020, the Company had a cash position of $41,017. The Company subsequently completed private placements on October 6, 2020, November 10, 2020 and November 30, 2020 for aggregate gross proceeds of $450,000. Combined with the current Private Placement, the Company has substantially strengthened its balance sheet and improved its financial flexibility. The proceeds from the Private Placement will be used to accelerate the Company’s product strategy and hire development personnel.

Read More: https://agoracom.com/ir/BlockchainFoundry/forums/discussion/topics/752440-blockchain-foundry-announces-private-placement-financing-and-provides-corporate-update/messages/2296261#message

Blockchain Foundry $BCFN.ca Announces Phase 2 Blockchain Development Agreement with GDPR Compliance Solution Provider $HUT.ca $BITF.ca $GLXY.ca $HIVE.ca $VYGR.ca

Posted by AGORACOM-JC at 9:24 AM on Monday, December 21st, 2020
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  • Entered into the second phase of a blockchain development agreement with a client in the General Data Protection Regulation compliance space
  • This phase of the Agreement is valued at approximately $60,000 and will last for approximately seven weeks.
  • The prior, initial phase of the Agreement was valued at approximately $50,000 and has now been completed.
  • Client expects to undertake more product development beyond the MVP phase and BCF will have the opportunity to establish itself as the preferred vendor for future development initiatives.

TORONTO, Dec. 21, 2020 – Blockchain Foundry Inc. (“BCF” or the “Company”) (CSE:BCFN), a leading North American blockchain development firm, has entered into the second phase of a blockchain development agreement (the “Agreement”) with a client (the “Client”) in the General Data Protection Regulation (“GDPR”) compliance space. This phase of the Agreement is valued at approximately $60,000 and will last for approximately seven weeks. The prior, initial phase of the Agreement was valued at approximately $50,000 and has now been completed. For more information on the initial engagement please refer to the Company’s press release dated October 5, 2020.

GDPR is a regulation in EU law concerning data protection and privacy. The market for GDPR compliance services in Europe is estimated to be worth approximately US$1.2 billion by 2023 1 .

Pursuant to the Agreement, BCF will work with the Client to complete the MVP of its GDPR compliance solution. The Client expects to undertake more product development beyond the MVP phase and BCF will have the opportunity to establish itself as the preferred vendor for future development initiatives.

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.

VIDEO – Blockchain Foundry $BCFN.ca Is A Small Cap #Blockchain 2.0 Company with Real Customers, Revenues and Income $HUT.ca $BITF.ca $GLXY.ca $HIVE.ca $VYGR.ca

Posted by AGORACOM-JC at 8:35 AM on Thursday, December 3rd, 2020
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We all remember the crash of “blockchain” smallcap stocks a couple of years back, which was actually a crash of blockchain pretenders who used the term to build stock promotions, as opposed to building actual blockchains.  

Like the dot-com crash of 2000, which bankrupted “dot-com” companies but gave birth to the likes of Google, Amazon, Linkedin because they built actual utility and value, the same can be expected of the blockchain crash and its resurgence.

Blockchain Foundry is a “Blockchain 2.0” company that has survived and is thriving. More than just lip service, take a look at the following highlights:   

  • Revenue for 9 months of 2020  (ending Sept 30) ~$1.1M 
    • 113% Year Over Year Growth
    • Net Income $140,000 = $610,000 Improvement
  • Completed development agreement with a large Canadian financial institution valued at approximately C$400,000; 
  • Partnered with Binance, the largest digital asset trading platform in the world, to leverage the Syscoin platform. 
  • 5 Active Clients + Robust Pipeline

Conclusion – BCFN is a smallcap Blockchain company with Real Customers, Real Revenues and Real Income

Watch this interview with Dan Wasyluk, CEO of Blockchain Foundry 

#Blockchain Coalition Launches Tradable Carbon Credit Token – SPONSOR: Blockchain Foundry $BCFN.ca $HUT.ca $BITF.ca $GLXY.ca $HIVE.ca $VYGR.ca

Posted by AGORACOM-JC at 11:14 AM on Wednesday, December 2nd, 2020

SPONSOR POST:

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BCFN:CSE

  • A leading North American blockchain development firm
  • Revenue for 1st 9 months of 2020 ~ $1.1M
    • 113% 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

Blockchain Coalition Launches Tradable Carbon Credit Token

  • Stablecoin pioneer Uphold is claiming to have launched the first tradable retail carbon token.
  • The Universal Protocol Alliance, a coalition of blockchain companies led by Uphold and including Bittrex Global, Ledger, Certik and Infinigold, announced the Universal Carbon (UPCO2) token Tuesday. 
By: Ian Allison

Each blockchain-based UPCO2 token represents a certified measure of carbon dioxide. They can be bought and held as an investment, or burned to offset a company or individual’s carbon footprint, the group said.

A rather overloaded term, “carbon credits” can refer to both government-issued credits traded on regulated markets, and voluntary carbon offsetting where credits can help remove emissions via projects that plant trees, for instance. Blockchain technology has been touted as a way to prevent the double counting (or double spending) of carbon credits in all areas and markets.

Uphold is starting out by tokenizing voluntary carbon credits, in particular REDD credits that are of high quality, easy to understand and make up about 58% of the voluntary carbon market, explained JP Thieriot, co-founder of the UP Alliance and CEO of Uphold. Each UPCO2 Token represents one year-ton of CO2 pollution averted by a certified REDD+ project preventing rainforest loss or degradation, he said. 

Based on the Ethereum ERC-20 standard, the tokens are backed by a Voluntary Carbon Unit (VCU), a digital certificate issued by international standards agency Verra, which allows certified projects to turn their greenhouse gas (GHG) reductions into tradable carbon credits.

Today, the retail market for voluntary carbon credits – via sites like TerraPass or Cool Effect – allow access, but not holding or trading, which is the important distinction, said Thieriot.

“We are the first people in the world that are making these credits accessible to retail, and holdable,” he told CoinDesk in an interview. “So there’s lots of retail sites that allow you to offset the trip you just took to New Zealand or give somebody a clever Christmas present. But they don’t allow the buying and holding for investment or speculative purposes.”

When he began looking at voluntary credits as fungible assets, Thieriot expected the prevailing “NGO mindset” was probably going to be sceptical of a project to harness a younger generation’s speculative interest. 

“Actually, every single conversation we had, people totally got it. They all understood that if we can pull that trick off, it could change the world,” Thieriot said.

Voluntary carbon offsetting is also of interest to companies like Amazon and Microsoft and Nike, said Thieriot, who are no longer interested in waiting around for governments to take the lead, and have set out to neutralize their current carbon footprint, or even their entire historical footprint, by their own initiative.  

Meanwhile, demand for carbon credits is set to outstrip supply by a factor of four to one in 2020, according to the World Bank. And a change in the political climate in the U.S. looks likely, with President-elect Joe Biden announcing a climate administration.

The UPCO2 tokens are to undergo a “curing process,” which amounts to a primary issuance, said Thieriot, whereby they will be made available from today on the Uphold platform. 

“Initially we are going to offer it on Uphold for about four to six weeks and then Bittrex Global will light it up,” Thieriot said. “And then we’d like every exchange in the world to pick them up.”

Source: https://www.coindesk.com/blockchain-coalition-launches-tradable-carbon-credit-token

Blockchain Foundry $BCFN.ca Reports Q3 2020 Financial Results $HUT.ca $BITF.ca $GLXY.ca $HIVE.ca $VYGR.ca

Posted by AGORACOM-JC at 9:34 AM on Tuesday, December 1st, 2020
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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.

 Three months ended
September 30,
2020
Three months ended
September 30,
2019
ChangePercentage
Change
Revenue227 , 410214,74412,6666%
Net Income74 , 33438,93535,39991%
     
 Nine months ended
September 30,
2020
Nine months ended
September 30,
2019
ChangePercentage
Change
Revenue1,124,081526,714597,367113%
Net Income (Loss)141,974(467,322)609,296not meaningful

“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.