Visionstate portfolio company Chatbot Incubator signs LOI with Cranky Dwarves to enter $300 billion cryptocurrency industry

EDMONTON, Alberta, Aug. 08, 2018 (GLOBE NEWSWIRE) -- Visionstate™ Corp. (TSX-V:VIS) is pleased to announce that its portfolio company, Montreal-based 10384801 Canada Inc., doing business under the name “Chatbot Incubator,” has signed an LOI with Cranky Dwarves to design an AI-based process which will facilitate cryptocurrency transactions in the financial services and consumer industry.

“Chatbot Incubator has proposed some extremely innovative ideas for making access to cryptocurrencies easier and more user-friendly. This is a great opportunity for us to develop new revenue streams,” says Gary Reuter, CEO of Cranky Dwarves.

Chatbot Incubator intends to design a program that will allow Cranky Dwarves to expand its current cryptocurrency mining operation to offer both B2B and B2C cryptocurrency services. “We are extremely excited to get involved in the cryptocurrency industry, thanks to this opportunity with Cranky Dwarves,” said David Weiser, CEO of Chatbot Incubator. “With the cryptocurrency market cap currently hovering near the US $300B mark, we believe there is a multitude of opportunities for AI-based technologies in this sector as traditional financial services organizations begin to rollout cryptocurrency services to mainstream consumers.”

Under the terms of the LOI, Cranky Dwarves will award Chatbot Incubator a $50,000 contract to design a new approach for the acquisition of cryptocurrencies by consumers. Chatbot will also have a right of first refusal on future design and implementation work required by Cranky Dwarves following this initial contract.

About Chatbot Incubator Inc.

Chatbot Incubator is a Montreal-based private company that specializes in creating applications for artificial intelligence, particularly in customer service delivery and sales & marketing. Visionstate currently holds 30 per cent of the company with an option to buy the remaining 70 per cent.

About Visionstate Corp.

Visionstate Corp. (TSX-V:VIS) is a growth-oriented company that invests in the research and development of promising new technology in the realm of sustainability, analytics and the Internet of Everything. Visionstate provides investors with the access to holdings in disruptive technologies that include artificial intelligence (AI), blockchain platforms and solar energy. Through Visionstate Inc. it helps businesses improve operational efficiencies, reduce costs and elevate customer satisfaction with its state-of-the-art devices that track and monitor guest activities and requests. The footprint of its WANDA™ smart device now extends to hospitals, airports, shopping centres and other public facilities across North America. Through building up a collection of synergistic technologies, Visionstate Corp. will continue to innovate, reduce environmental impact and transform consumer experiences.

For more information, please visit www.visionstate.com and follow @Visionstate on Twitter and Facebook. Additional investor information is available on SEDAR.

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