- Plans to launch 200 more phygital centers throughout India
- Positioning to onboard more than 100,000 crypto traders in the next 12 months
- Focus on reaching more than 300,000 businesses to offer digitization of employee payroll
- Intends to have 100,000 students for its Credibel Education digilocker solution
AVENTURA, Fla. and MUMBAI, India, April 04, 2022 (GLOBE NEWSWIRE) -- Life Clips, Inc. (OTC Pink: LCLP) (the “Company”) today announced its Belfrics Group subsidiary has launched India’s first phygital center to offer trading in cryptocurrencies and blockchain services in Pune. In a November 9, 2021 press release, Life Clips Belfrics announced it planned to expand its technology team and open 200 independently owned phygital centers in the next six months to meet the demands of the fast-growing Indian cryptocurrency market. This initial location in Pune is a part of the larger strategy of Belfrics Group, which is planning to launch additional centers across tier 2 and 3 markets of India.
Speaking at the launch of the new phygital center, Praveen Kumar, Founder and CEO of Belfrics Group, said, “Awareness of phygital is still rudimentary in the Indian market and our focus is to educate the common public about the possibilities of crypto trading and decentralized applications that would give them secure access to blockchain-related services. This is going to be a franchisee-based model wherein our franchisees would give local support to customers through every center. We decided to launch our first center in Pune as it is one of the fastest growing hubs as far as technology and business are concerned. 62% of the population are under 30, which makes Pune the pivotal land of growth in crypto trading. Our aim is to onboard over 100,000 traders in 2022-23.”
In addition to crypto trading, Belfrics Group will also offer innovative blockchain based solutions in Health, Education, and Employment. Speaking on the additional services Praveen Kumar added, “Through our platform Bel Dapp we would also offer blockchain solutions to our customers. With our sandbox license in the national digital health arena, we aim to onboard 25-30% of hospitals in Pune. Through this onboarding process we expect to achieve 300,000 plus customers who will use our Belyo platform.”
Pune is the seventh most populous city in India and the second-largest city in the state of Maharashtra, with an estimated population of 7.4 million people. It is widely regarded to be the second major IT hub and the most important automobile and manufacturing hub in India. Pune is also known as the 'Oxford of the East' given the presence of a wide range of educational institutions. As a result of this, education will be a key focus area for Belfrics Group, and the Company plans to have more than 100,000 students in Pune use its decentralized application ‘Credibel’ for certificate and credential issuance.
Credibel is built on Belfrics blockchain infrastructure, Belrium. Belfrics Group also plans to disrupt the employment ecosystem with its B-Roll offering which is a decentralized application built on the infrastructure of the blockchain technology for small and medium businesses and conglomerates. Companies will be able to utilize employee paychecks that are digitally-signed, tamper-proof and digitally verifiable on Belfrics blockchain. Belfrics Group intends to onboard several hundred thousand businesses for its B-roll app.
Moreover, Belfrics Group would offer certification courses in blockchain technology and crypto through its education vertical, Belfrics Academy. The company plans to reach 1 million customers in the next 12 months. Belfrics Group intends to build one of the largest phygital networks in India, where each independent owner will be responsible for meeting sales targets with their invested region. Each center will be strategically located to capture majority market share and build relationships with local clients by being constantly accessible to them.
Life Clips CEO, Robert Grinberg, said, “Five months ago Life Clips announced plans to roll out Belfrics Phygital Centers in India within six-months. I stated at that time that India has been a pivotal center of innovation in engineering and technology for many years. In the same press release I said we look forward to drawing from India's exceptional talent pool as Belfrics develops new ways for our customers to interact with the cryptoeconomy. I am pleased to say we are well on our way to accomplishing both of these objectives. We intend to aggressively expand Belfrics into a powerful cryptocurrency exchange and platform, not just in India, but in other countries where its services will prove beneficial to the local economy.”
About Us
Life Clips is the parent company of Belfrics Global and Cognitive Apps Software Solutions Inc. Belfrics Global is a Malaysian based blockchain provider and cryptocurrency exchange and platform that is licensed and regulated by Labuan Financial Services Authority (LFSA), Malaysia. With 10 operational offices in 8 countries, Belfrics’ multi-feature trading platform offers digital assets, cryptocurrencies, and crypto derivative contracts to its clients. Belfrics blockchain has been recognized by Gartner as being a top 10 blockchain in terms of real-world projects and has received a patent for its Belrium KYC verification System (BKVS) by the Nigerian patent authority. Cognitive Apps is disrupting the space of mental health with its speech-based, AI-powered mental health analytics platform that empowers businesses to measure, understand, and improve the mental well-being of their employees, patients, and customers. Aiki delivers CBT and IPT therapies using a chatbot which and includes the voice analysis solution that takes in other health data from Apple and Google HealthKit to make a more accurate analysis of one’s mental health. Aiki was developed to capitalize on the trend towards artificial intelligence platforms utilized by individuals and companies to raise awareness of employees’ mental health. Cognitive Apps is developed by a team of licensed psychotherapists that makes use of vocal biomarkers to screen for early signs of mental health conditions, such as stress and depression. Aiki is available on Apple‘s App Store.
For more information on Life Clips visit www.lifeclips.com
For more information on Belfrics Global visit www.belfricsgroup.com
For more information on Cognitive Apps Software Solutions visit https://cogapps.com
Forward-Looking Statement Disclaimer
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements: (i) the initiation, timing, progress and results of the Company’s research, manufacturing and other development efforts; (ii) the Company’s ability to advance its products to successfully complete development and commercialization; (iii) the manufacturing, development, commercialization, and market acceptance of the Company’s products; (iv) the lack of sufficient funding to finance the product development and business operations; (v) competitive companies and technologies within the Company’s industry and introduction of competing products; (vi) the Company’s ability to establish and maintain corporate collaborations; (vii) loss of key management personnel; (viii) the scope of protection the Company is able to establish and maintain for intellectual property rights covering its products and its ability to operate its business without infringing the intellectual property rights of others; (ix) potential failure to comply with applicable health information privacy and security laws and other state and federal privacy and security laws; and (x) the difficulty of predicting actions of the government and its regulations. All forward-looking statements included in this press release are made only as of the date of this press release. The Company assumes no obligation to update any written or oral forward-looking statement unless required by law.
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