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Blockchain Foundry Inc. Announces New Software Release for Blockchain-Based E-Commerce and Token Creation

News Provided by GlobeNewswire2018-06-26

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THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR RELEASE, PUBLICATION OR DISSEMINATION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

TORONTO, June 26, 2018 (GLOBE NEWSWIRE) -- Blockchain Foundry Inc. (“Blockchain Foundry” or the “Company”) (CSE:BCFN) is pleased to announce the release of Blockmarket Desktop 3.0. The latest version of Blockmarket introduces several new features to its decentralized marketplace, including an easy-to-use blockchain-based asset creation portal, simplifying the difficult and time-consuming token creation process.

The Blockmarket product suite has been in development since 2015 through collaboration between the Syscoin development team and Blockchain Foundry. “A decentralized, user-friendly marketplace has major benefits for merchants and consumers alike. The release of Blockmarket Desktop 3.0 is a major milestone on our road to realizing this vision," said Dan Wasyluk, CEO of Blockchain Foundry.

Blockmarket Desktop 3.0 precedes the highly anticipated Blockmarket Web application and the Pangolin Web Payment Plugin. Blockmarket Web will deliver all of Blockmarket Desktop's features and more in a mobile-friendly, web-based experience intended to compete with leading e-commerce companies, while Pangolin will provide the necessary payment infrastructure for users to seamlessly transact online using Syscoin or Bitcoin as payment options. Blockmarket Web and Pangolin are expected to be core revenue-generating products for Blockchain Foundry. They will use the same infrastructure layer developed for Blockmarket Desktop, delivering a better experience with less friction to a larger userbase through a web-enabled platform.

Blockmarket Desktop 3.0 Features:

A unique asset creation portal: Create, send, mint and collect interest on Syscoin Assets. Crowdfund your venture, assign tokens to your physical assets and create and distribute loyalty points to consumers, all with just a few clicks.
Decentralized Marketplace: Trade goods and services openly on the world's first decentralized marketplace, built on the Syscoin protocol's hardened smart contract network.
Identities and Aliases: An alias is a blockchain username essential for Syscoin services. Users can create an alias and associate it with identity data, including KYC/AML information, which can be validated on the blockchain. Aliases are interchangeable with addresses, simplifying sending tokens from one user to another and eliminating the need to remember long wallet addresses. Identities use Blockchain Foundry’s offchain identity service which can store expanded identity data for longer periods of time for a small charge.
Messaging: Send and receive encrypted messages from one alias to another using Blockchain Foundry’s offchain, encrypted messaging platform secured by the blockchain. Users can store larger amounts of message data for longer periods of time through paid services.
Escrow: A flexible, blockchain-based escrow system that enables multiple users to secure a transaction with the support of a trusted third party arbiter. By default, escrow transactions through Blockmarket are secured by Blockchain Foundry’s buyer protection service, creating revenue for the company in the form of arbitration fees.
Certificates: Create, store and record data using the blockchain. Certificates can be transferred between users, enabling use cases such as rights management, supply chain and digital goods applications.
Built-in wallet and funding manager: Easily convert existing tokens to Syscoin without leaving the application. Blockmarket Desktop 3.0 supports 32 different cryptocurrencies.

About Blockchain Foundry Inc.

Blockchain Foundry Inc. develops and commercializes blockchain-based business solutions and provides consulting services to corporate clients seeking to incorporate blockchain technology in their businesses. Blockchain Foundry Inc. has developed a proprietary blockchain-based e-commerce solution, Blockmarket, which is a downloadable software application and has begun development work on a web-based Blockmarket application.

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. Such forward-looking statements include, without limitation, the anticipated launch of the Blockmarket Web application and the attributes thereof and other factors.

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 Blockchain Foundry are inherently subject to significant business, economic, regulatory, competitive, political and social uncertainties and contingencies. Many factors could cause Blockchain Foundry’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.

SOURCE: Blockchain Foundry Inc.

Christopher Marsh
Chief Financial Officer
(647) 330-4572