VANCOUVER, British Columbia and LONDON, March 27, 2018 (GLOBE NEWSWIRE) -- BTL GROUP LTD. (TSX Venture:BTL) (“BTL” or the “Company”) is pleased to announce Interbit, its proprietary next-generation blockchain platform, will be available on April 23, 2018 for testing and feedback. Visitors will be able to access and download Interbit on https://interbit.io.
“Interbit is a token free blockchain platform and its release will further highlight the distinction between blockchain technology and the cyptocurrency markets. Furthermore Interbit's unique chain joining technology is designed to allow users to keep all metadata private in a design framework that is familiar and easy to use, of which both are essential for businesses to truly come to rely on blockchain technology over time,“ said Tom Thompson, CTO of BTL.
Interbit's unique “chain joining capability” has the capacity to inter-connect many thousands of Interbit blockchains per solution, in a completely private, secure and horizontally scalable manner. BTL developed and built Interbit after determining two years ago that second generation blockchain technologies, such as Ethereum, would not meet the privacy nor the scalability demands of users. Please refer to the Company’s October 17, 2017 press release, wherein the Company announced its initial patent filings related to Interbit.
"This represents a key milestone in our BTL journey and we look forward to Interbit bringing unrivalled technology to the market," said Dominic McCann, CEO of BTL. “Subject to completion of security audit and performance testing following its release, Interbit will be available for commercial deployment shortly thereafter.”
ABOUT BTLTM AND INTERBITTM
Listed on the TSX Venture Exchange (TSX Venture:BTL) and operating from both Canada and the UK, BTL is an enterprise technology platform provider that is developing Interbit, a proprietary third generation blockchain platform. Via Interbit, BTL can help companies greatly reduce risks and costs by securely streamlining existing IT infrastructures. BTL has successfully demonstrated how Interbit can innovate and transform existing business processes for leading companies in the finance, energy and gaming sectors.
Interbit is a fast, private, and scalable inter-connected blockchain platform. Via its suite of APIs and smart contracts, Interbit allows businesses around the world to improve efficiency in trading and operations, accelerate development of internal systems, and embrace new revenue generating opportunities, while providing the high levels of security, resilience and auditability required in regulated enterprise environments.
With offices in Vancouver and Calgary, Canada and London, UK, BTL is positioning itself as a front-runner in the blockchain ecosystem, partnering with and enabling enterprises on Interbit in order to improve their existing IT systems.
For further information please contact:
|Angus Campbell, Inquiries|
Phone: +44 (0) 20 7100 0850
|Dominic McCann, CEO|
Phone: +1 855 256 5246
Certain statements in this release are forward-looking statements, which include further development of BTL’s business relationships and business and the timing, development and success of BTL’s technologies and products, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, the development of competitive technologies, the marketplace acceptance of BTL’s technologies and products, as well as those risk factors discussed or referred to in BTL's annual Management's Discussion and Analysis for the year ended December 31, 2016 available at www.sedar.com, many of which are beyond the control of BTL. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, BTL disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, BTL undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.