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TORONTO, Oct. 30, 2018 (GLOBE NEWSWIRE) -- Blockchain Foundry Inc. (“BCF” or the “Company”) (CSE:BCFN)(8BF.F)(BLFDF) is pleased to announce that it has entered into a solution design and consulting agreement with the LODE Community (“LODE”). LODE is a Collectively Organized Community of like-minded silver enthusiasts with members from more than 90 countries.
With the help of BCF, LODE is constructing the world’s first two-token Cryptographic Silver-Monetary-System to streamline business-to-business, peer-to-peer and quote-to-cash processes and integrate seamlessly with Customer Relationship Management and Enterprise Resource Planning systems. Maintaining a relationship to vaulted, pure 99.9% investment-grade silver bullion, LODE’s two-token silver-leasing ecosystem will be connected with Syscoin’s platform and will utilize Syscoin’s immutable blockchain technology to provide LODE with fast, permissionless, seamless transactions, enabling individuals to transact with cryptocurrency and/or fiat in an encrypted, secure environment. The system will utilize a graduated KYC/AML protocol to remain compliant with best practices regulation.
Over the next several weeks, BCF will be fully engaged with LODE and their partners INTERFIX Corporation and Atomic47 to complete the LODE token system design with the intention of integrating the Syscoin blockchain, the INTERFIX engine, the existing member’s portal platform and 18 million grams of vaulted 99.9% pure silver bullion known as the “LODE Community Monetary-Mass”.
BCF will also provide the LODE Community with the knowledge base to design and develop the blockchain-based infrastructure of its two-token architecture.
“The LODE Community and Alliance of service providers are extremely excited about our strategic partnership with the team at Blockchain Foundry,” stated David Olsson, Technical Lead at Atomic47 Labs. “Blockchain Foundry brings an incredibly strong team and ecosystem of enabling technologies to build our cryptographic networks with high-speed transactions and proofs. It’s an exciting time for the LODE project as the community gets closer to realizing the objectives of the mandate. It gives the community and service providers confidence that BCF understands what we are trying to achieve with this project and are positioned to accelerate the construction of our ambitious and meaningful technology roadmap.”
“LODE presents a bridge between silver-backed money and cryptocurrency. Asset-backed cryptocurrencies are in high demand in today's market as a large portion of the market does not see cryptocurrency as being backed by anything tangible,” said Jag Sidhu, CTO of Blockchain Foundry Inc. “The LODE Service Provider Alliance is incredibly strong and experienced in this space and we are fortunate to have a chance to work with them. We are excited to begin this journey with LODE.”
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.
About the LODE Community:
The LODE Community is powered by an Alliance of 33 service providers in 4 jurisdictions with 6 secure vault locations worldwide. LODE comprises of like-minded individuals and organizations that advocate for the restoration of sound-money to monetary systems and to restore silver, from their private holdings, as a monetary unit to settle trade and conduct commerce. This has the potential to install stability to the money supply for millions of merchant users and unbanked individuals globally.
As a means of realizing the vision, an Alliance of professional service providers will work collectively to enable the LODE Community to deliver on their mandate of “Restoring Silver to the Monetary System”. The Alliance is assisting with the construction and enabling of two blockchain Tokens - LODE Tokens and AGX Coins. These Cryptographic Digital representations of reserved and vaulted silver bullion will serve as exchangeable, transactable, immutable complex leasing arrangement and/or digital receipt for the contributors pure silver bullion.
Each gram of silver that enters the system will be vaulted and secured for use by the AGX Coin holder. When this silver mass is tokenized new AGX Coins will be created. Once created and issued into circulation, AGX Coins will be authentic digital representations of silver and will go to work on the Internet for long-term use as Cryptographic Silver Money. AGX will be Cryptographic Silver Money designed, assembled and constructed globally “by the People for the People”.
The LODE Community and its operating system are not legal entities, and as such are not dependent on any one organization but rather blockchain protocols, merchant interactions, and Community engagement for its future success.
For more information visit www.LODE.one
Blockchain Foundry Media Contact Information:
Chief Financial Officer
LODE Community Media Contact 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.