VANCOUVER, March 19, 2018 /CNW/ - HashChain Technology Inc.
("HashChain" or the "Company") (TSXV: KASH; OTCQB: HSSHF)
today announced their vote to approve Dash proposals designed to
help establish the cryptocurrency's presence and build awareness in
Brazil, Venezuela and Africa. HashChain holds a Dash masternode that
grants the Company voting privileges on budget proposals funded by
the Dash treasury and important decisions that affect the currency.
HashChain also recently voted on two other Dash proposals to build
a Dash Academy, and develop a retail payment system in the UK.
"Dash is an ingenious cryptocurrency that has the potential to
change societies in many ways, and HashChain believes it will be
particularly influential in Brazil, Venezuela and the African continent where
certain fiat currencies are inhibiting wealth and growth," said
Patrick Gray, CEO and Founder of HashChain. "The initiatives
provide more presence in these areas and will establish Dash as a
currency they are comfortable adopting."
The first approved proposal will budget 16 DASH, an approximate
$8,500 CDN value based on Dash's
$531.24 CDN price on
March 15, 2018, over a six-month
period to bring a Dash YouTube Channel and social media management
efforts to Brazil. The
content, which will be promoted on Facebook, Instagram Twitter,
SoundCloud, Twitch and others, will include:
- A Dash daily analysis segment, "Dash Weekly News" on
Sundays
- Tutorial videos about the currency, and cryptocurrency podcasts
featuring industry heavyweights
The second approved proposal allocated a total of 108 DASH, an
approximate $57,374 CDN value based
on Dash's $531.24 CDN price on
March 15, 2018, in a little over a
month to invest in two major initiatives in Venezuela. The first event, "Help!
There is a cryptocurrency in my soup!", took place on March 8th, 2018, with an audience of 250
stakeholders of important Venezuelan companies. The discussion
focused on how to receive and buy goods with DASH. The second event
is the 6th Dash conference in the country's capital, Caracas, and will take place on March 31st, 2018.
The third and final approved proposal is for Dash Africa, an already established project, and
the largest and foremost outlet for Dash-related media in
Africa. It has also served
as the platform to launch and develop successful projects in
several African countries. This three-month proposal is partly
retrospective in action, paying for work already completed, and to
serve as a template for future proposals.
Dash Africa is an active
platform from which Dash is penetrating the African continent's
high-potential market for cryptocurrency, as many African countries
suffer from fiat currency shortages. The principal component of the
platform is the Dash Africa website, a sophisticated and effective
means of educating, informing, and communicating with a growing
Dash community on the continent. The proposal will help the
development and maintenance of the site, and other
projects:
- Dash Waterfront Office - Located in the popular tourist
destination, Cape Town harbor of
Hout Bay, the office will provide
Dash information, promotional material, free Wi-Fi, and more
- Road Trip and Vehicle Branding - Visiting universities and
events across South Africa in a
Dash-branded vehicle
- Continuous funding of Dash Leopards Soccer – Dash Africa will
continue to fund the local soccer team
- Ambassadors Program - Ambassadors will continue to be provided
with training, funding, and materials to perform their own
meetups
- Journalism – Will pay a stipend to journalists who provide
content for the website
- Promotion of Dash in Traditional Communities - To penetrate the
traditional communities saving industry, worth over $2 billion dollars
In October 2017, HashChain
purchased 1,000 DASH for a total of $280,000
USD. To run a masternode, an investor must have at least
1,000 DASH in their wallet. By running a masternode, HashChain can
participate in voting on Dash initiatives that have a direct
influence on the direction of the network. Masternodes allow users
of Dash to carry out private transactions ("PrivateSend). They also
enable the Dash network to process transactions instantly
("InstantSend") eliminating bottlenecks in the blockchain and
providing double-spend-proof capabilities. The Dash network
currently rewards masternodes for their services to the network at
a rate of 6.6 DASH per month.
The Company further announced today that it has granted an
aggregate of 5,260,000 stock options to certain
directors, officers, consultants and employees. The options
are exercisable at a price of $0.50
per share for a five-year term and vest immediately. The grant of
such stock options is subject to TSVX approval.
About HashChain Technology Inc.
HashChain is a blockchain company, and the first publicly traded
(TSXV:KASH; OTCQB: HSSHF) Canadian cryptocurrency mining company to
file a final prospectus supporting highly scalable and flexible
mining operations across all major cryptocurrencies. HashChain taps
low-cost North American power, cool climate and high-speed
Internet: the trifecta most critical to mining success, to create a
competitive position for maximizing the number of mining 'wins.'
HashChain currently operates 100 DASH mining Rigs, 770 Bitcoin
Rigs, and has purchased an additional 3,000 Rigs. Once all Rigs are
operational HashChain will be consuming approximately 5.8 megawatts
of power. HashChain also acquired a Dash Masternode for
approximately USD $280,000 which
requires a collateral investment of 1,000 DASH coins.
Diversifying their business strategy beyond crypto mining, the
company recently acquired NODE40, a blockchain technology company
that developed NODE40 Balance, a new SaaS product
making cryptocurrency tax reporting simpler and more accurate. The
solution allows cryptocurrency users and traders to accurately
report their capital gains and losses. NODE40 is also one of the
leading masternode server-hosting providers for the Dash network
and is seeking additional alternate coin masternode hosting.
HashChain Mining is a wholly owned subsidiary of HashChain
Technology Inc. based out of Albany, New
York, and an office in Vancouver,
British Columbia.
On Behalf of the Board,
Patrick Gray
CEO & Director
For Further information please contact:
HashChain Technology Inc.
Larry Heinzlmeir
Vice President, Marketing & Communications
Larry@HashChain.ca
604-537-8676
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.
Cautionary Note Regarding Forward Looking Statements: Certain
disclosure in this release, including statements regarding the
acquisition by the Company of the NODE40 Business and GCPA (the
"Transactions"), including the anticipated benefits to the Company
of the Transactions, the performance of 3,000 Rigs ordered by the
Company, the expected timing of delivery and installation of 770
Rigs and expectations regarding future operations may constitute
forward-looking statements. In making the forward-looking
statements in this release, the Company has applied certain factors
and assumptions that are based on the Company's current beliefs as
well as assumptions made by and information currently available to
the Company, including that all conditions to the closing of the
Transactions will be satisfied, including receipt of all required
approvals, and the Transactions will complete on the terms set out
in the APA and the SPA, the acquisition of the NODE40 Business will
have the benefits to the Company anticipated by management, the
3,000 Rigs will be successfully ordered and delivered, the 3,000
Rigs will perform as expected by management and the timing,
installation and performance of the 770 Rigs will be consistent
with management's expectations. Although the Company considers
these assumptions to be reasonable based on information currently
available to it, they may prove to be incorrect, and the
forward-looking statements in this release are subject to numerous
risks, uncertainties and other factors that may cause future
results to differ materially from those expressed or implied in
such forward-looking statements. Such risk factors may include,
among others, the risk that the conditions to the closing of the
Transactions will not be satisfied, including the risk that
required approvals are not obtained, and that the Transactions will
not complete on the terms set out in the APA and the SPA or at all,
the risk that the Transactions, if closed, will not result in the
anticipated benefits to the Company; the risk that the 3,000 Rigs
will not be successfully ordered from the manufacturer or, if so
ordered, that the Rigs will not be delivered to the Company when
expected by management or at all, the risk that the 3,000 Rigs will
not perform as expected by management and the risk that the 770
Rigs will not be delivered to the Company or that the timing of the
delivery and installation or the performance of the 770 Rigs will
not be as expected by management. Readers are cautioned not
to place undue reliance on forward-looking statements. The Company
does not intend, and expressly disclaims any intention or
obligation to, update or revise any forward-looking statements
whether as a result of new information, future events or otherwise,
except as required by law.
SOURCE HashChain Technology Inc.
