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VANCOUVER, B.C., Aug. 02, 2018 (GLOBE NEWSWIRE) -- Block One Capital Inc. (TSXV:BLOK) (OTCQB:BKPPF) (Frankfurt:ES3) (the “Company” or “Block One”), an investment company focused on early stage and high growth opportunities in the blockchain sector, is pleased to provide an update on its investment portfolio.
Finzat continues to make strong progress as it develops relationships among key participants in the US whole loan market. Finzat has agreed in principle to terms with the leading provider of risk management software and a residential whole loan exchange for more than 120 existing financial institution clients. In addition, this firm has operating agreements with several US Housing Government Sponsored Enterprises (GSEs) and is in active dialogue with over 10,000 prospective participants for its whole loan exchange. A final agreement is anticipated with a formal announcement on or about the end of the 3rd quarter. Also, recent discussions with a GSE active in the ten trillion-dollar US residential mortgage market have served to highlight opportunities for a synergistic partnership whereby Finzat would bring benefits of blockchain applications to mature, well- established business lines. A formal proposal defining the terms of this relationship is being negotiated. Finally, Finzat is scheduled to open discussions before year-end with a European headquartered international financial management concern servicing hundreds of institutional clients around the globe. Among the firm’s activities are those that involve the assembly and dissemination of sensitive personal data, offering business potential for Finzat and blockchain technology.
At the end of April, Shopin completed the final part of its Token, Generation Event. In total, Shopin raised gross proceeds of $42,500,000. Block One participated in the private presale portion of Shopin’s Token, Generation Event which concluded at the end of January. The timing and size of Block One’s participation precipitated a 66% token bonus to Block One.
Shopin recently announced a partnership with QRYPTOS, a subsidiary of QUOINE, one of the largest exchanges in Asia (and one of the few licensed exchanges in Japan). Shopin has announced that it believes this is an opportunity for it to expand awareness of its innovative work and community as well as its upcoming Q4 launch. Shopin also announced the additional sale of additional tokens at $0.16.
Block One believes its investment in Shopin reflects strong value creation for its shareholders as the original USD$750,000 participation with 66% bonus tokens is now valued at close to USD $2,000,00, reflecting a return of nearly 2.5 times its original investment.
Shopin was the Winner of Best ICO at the North American Bitcoin Conference and the Winner Best ICO at the CoinAgenda Bitcoin/Cryptocurrency investing conference.
Shopin, a private company is a pioneer in creating a blockchain solution where consumers own their own data. Shopin works with retailers to create a secure profile that enables shoppers to build and own their complete product preference and purchase data profile. Shopin unites retailers and their customers through personalized data intelligence for an unprecedented shopping experience within the participating retailers’ own sites, apps and stores and is expanding to publishing. Creating a more sustainable retail economy where retailers become stronger by working together with shoppers who get the most personalized experience and deals in every online and offline experience. Shoppers are rewarded by retailers through Shopin cryptocurrency based on the value of their data and for receiving ads, consuming and sharing content, engagement, and referring friends where they can spend the cryptocurrency along with FIAT (cash, credit cards) with the participating retailers.
Recently Forbes listed blockchain based identity and privacy as a leading breakthrough that will disrupt the tech and retail world in 2019, and identified Shopin in this space.
Furthermore, Shopin recently announced that it added aspects of its core propriety technology infrastructure to GitHub as part of a third-party audit commissioned by Quoine and performed by a representative of Novoa Media. The audit, though mostly internal, included aspects of Shopin’s artificial intelligence, personalization algorithms and back-end software for the purpose of showcasing the product development milestones Shopin is spearheading for the technology and crypto communities.
For more information on Block One please visit the Company’s website at: www.blockonecap.com.
Chief Executive Officer
This news release contains forward-looking statements that are based on the Company’s expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to the prospects of developing a formal agreement with a leading provider of risk management software and a residential whole loan exchange; the prospects of developing formal arrangements with additional housing GSEs, including those involved in the US residential mortgage market, and a European headquartered international financial management company; and Shopin's business plans and ability to expand awareness of its business. Although Block One believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Factors that could cause actual results to differ materially from those in forward-looking statements include general economic, market or business conditions, including the general acceptability of blockchain, risks associated with regulatory changes, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks and receipt of necessary TSX Venture Exchange approvals. These forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Block One Capital Inc.
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