VANCOUVER, March 23, 2020 /CNW/ - HIVE Blockchain
Technologies Ltd. (TSX.V:HIVE) (OTCQX:HVBTF) (the "Company" or
"HIVE") announced today that its legal representation has requested
that a new blockchain cease and desist from using the name Hive and
Hive Blockchain for its new hard fork of the Steem blockchain (the
"Blockchain").i ii
In response to multiple shareholder inquiries understandably
confused by this Blockchain's announcement, HIVE clarifies that it
has no association with this Blockchain. HIVE believes this
Blockchain's use of "Hive" and "Hive Blockchain" is, intentionally
or otherwise, confusing with the Company's brand, which it has used
globally over the Internet in relation to its connection with
blockchain related goods and services including cryptocurrency.
This Blockchain's use of the same brand in connection with similar
goods and services also passes off on the goodwill that HIVE has
developed.
"As an early leader in the blockchain sector, we have invested
significant amounts of money in developing our brand and educating
the capital markets on blockchain technology and cryptocurrencies,"
explained Frank Holmes, Interim
Executive Chairman for HIVE. "We are a strong supporter of
innovation within blockchain technology, and we have no issue with
the proposed blockchain beyond its name, nor do we have any opinion
on its reported dispute related to Steem. However, for legal
reasons, we have no option but to seek to protect our interests,
dispel the ongoing confusion and avoid any potential damage to our
reputation. We are hopeful this can be easily resolved with a name
change. Any continued usage by the Blockchain will only evidence an
intentionally predatory, misleading and fraudulent strategy."
HIVE was the first publicly listed blockchain infrastructure
company and provides a pure play blockchain investment for the
capital markets. The Company is a growth oriented, publicly-listed
company building a bridge from the blockchain sector to traditional
capital markets by providing shareholders with exposure to the
operating margins of digital currency mining as well as a portfolio
of crypto-coins. Since 2017, HIVE has owned digital currency mining
facilities which produce newly minted digital currencies like
Ethereum and Ethereum Classic. The Company has also mined other
digital currencies in the past including Bitcoin as well as other
crypto-coins. The Company was one of the earliest ways for
investors to gain exposure to businesses in this space.
About HIVE Blockchain Technologies Ltd.
HIVE Blockchain Technologies Ltd. is a growth oriented, TSX.V-listed company building
a bridge from the blockchain sector
to traditional capital markets. HIVE owns state-of-the-art GPU-based
digital currency mining facilities in Iceland and Sweden, which produce newly minted digital
currencies like Ethereum continuously. Our deployments provide
shareholders with exposure to the
operating margins of digital currency mining as well as a portfolio of crypto-coins.
For more information and to register to
HIVE's mailing list, please visit www.HIVEblockchain.com.
Follow @HIVEblockchain on Twitter and subscribe to
HIVE's YouTube channel.
On Behalf of HIVE Blockchain Technologies Ltd.
"Frank Holmes"
Interim Executive Chairman
Neither the TSX
Venture Exchange nor
its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
news release.
Forward-Looking Information
Except for the statements of historical fact, this news
release contains "forward-looking information" within the meaning
of the applicable Canadian securities legislation that is based on
expectations, estimates and projections as at the date of this news
release. "Forward-looking information" in this news release
includes, but is not limited to, statements regarding further steps
to protect the Company's interests; and, the Company's
future plans and opportunities.
Factors that could cause actual results to differ materially
from those described in such forward-looking information include,
but are not limited to, the Company may not pursue further
action to protect its interests as set forth in this release; and
other related risks as more fully set out in the
Company's filings at www.sedar.com.
The forward-looking information in this news release reflects
the current expectations, assumptions and/or beliefs of the Company
based on information currently available to the Company. In
connection with the forward-looking information contained in this
news release, the Company has assumed that no significant events
occur outside of the Company's normal course of business. Although
the Company believes that the assumptions inherent in the
forward-looking information are reasonable, forward-looking
information is not a guarantee of future performance and
accordingly undue reliance should not be put on such information
due to the inherent uncertainty therein.
|
i
https://medium.com/@steemleo/the-hive-blockchain-a-steem-community-hard-fork-with-superior-dpos-the-leo-show-24-bd7a44d5be95
|
ii
https://hive.io/
|
SOURCE HIVE Blockchain Technologies Ltd.