VANCOUVER, British Columbia, April 30, 2018 (GLOBE NEWSWIRE) -- BLOK Technologies Inc. ("BLOK Tech" or the "Company") (CSE:BLK) (FRANKFURT:2AD) is pleased to announce that it has completed the Minimum Viable Product (“MVP”) of its Greenstream Network Platform, the blockchain integrity system for the Canadian Cannabis industry, and is embarking on the Alpha release which is ready for demonstration.
This marks a key milestone for BLOK Tech’s 100% wholly-owned subsidiary Greenstream Networks Inc. ("Greenstream") as it develops a permissioned consortium network that will allow Licensed Producers, Retailers, Regulators and other Cannabis industry stakeholders to communicate, interoperate and transfer assets and value through the Canadian cannabis ecosystem.
The Greenstream Network Platform has a number of features and benefits it provides to Cannabis industry stakeholders. It is designed to ensure compliance within the complex regulatory environment, provides powerful industry data and insights and pioneers new standards for the emerging Cannabis industry. The Greenstream Network Platform seamlessly ensures supply chain data integrity, incorporates a cost-effective and legal payment gateway for the exchange of value and includes an identity verification system, making it the most comprehensive blockchain-enabled platform available in the industry.
The Greenstream Network Platform is being built on leading-edge blockchain platforms including the Hyperledger stack, an open-source, collaborative technology initiative supported by partners such as IBM, Linux, Cisco, Intel, SAP and JP Morgan. Greenstream was accepted as a member of the Hyperledger Foundation in March 2018, the first Quebec-based business to achieve this.
“The Alpha launch of the Greenstream platform is a key milestone we have achieved prior to our April 30th target date.” said Rob Dawson, BLOK Tech CEO. “It takes us one step further to proving out our investment model as we seek to commercialize blockchain technologies for business and industry. In being recognized by key players such as Hyperledger, it provides our investors and our team with added confidence in the solutions we are developing.”
Featured at Industry Conferences and Events
Greenstream has been invited to showcase its platform at technology conferences and events. It is participating in Collision 2018, America's fastest growing tech conference from April 30th to May 3rd in New Orleans.
In addition, Greenstream is one of a select few blockchain technology companies that has been shortlisted to demonstrate its platform at the Hyperledger booth at Consensus 2018, the 4th annual blockchain technology summit, May 14-16, 2018 in New York City. Consensus brings together 4,000+ attendees from the leading industry startups, investors, financial institutions, enterprise tech leaders, and academic and policy groups who are building the foundations of the blockchain and digital currency economy.
Greenstream also participated and was recognized in the Government of Canada Blockchain Codefest hackathon held April 17th to 23rd where it provided a submission featuring the Greenstream Network Platform under the Global Drug Supply Chain & Verifiable Organization themes.
“We are excited to be participating in leading blockchain industry events, at the invitation of our stakeholders and partners”, said Greenstream Chief Product Officer Manu Varghese. “This provides us an opportunity to showcase our technology and collaborate further with other cutting-edge blockchain developers and industry professionals.”
With a working version of the Greenstream Network Platform, the Company now moves into its next phase of development including demonstration, testing and gaining feedback from Cannabis industry companies. The release is a key step towards full commercialization of the Greenstream Network Platform, which is expected later this year.
About BLOK Technologies Inc.
BLOK Technologies Inc. is a public company that invests in and develops emerging companies in the blockchain technology sector. The Company’s approach is to provide capital, technology and management expertise to the companies it develops. With core technology being developed for the leading cannabis supply chain integrity network, BLOK Tech continues to grow its business into adjacent industries and emerging technologies. The Company systematically identifies early-stage technologies with potential to disrupt and innovate within their industry and invests the necessary resources to ensure the success of their projects.
For additional information regarding BLOK Technologies and other corporate information, please visit the Company's website at BLOKTECHINC.COM
For further information, please contact:
James Hyland, B.Comm.
Vice President Corporate Development, Director
ON BEHALF OF THE BOARD OF DIRECTORS
President & CEO
Statements in this news release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the company can fulfill such forward-looking statements and the company undertakes no obligation to update such statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the company, some of which are beyond the company’s control.