Blockchain Foundry provides update on product strategy and

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TORONTO, May 18, 2021 (GLOBE NEWSWIRE) – Blockchain Foundry Inc. (“BCF” or the “Company”) (CSE: BCFN), a leading North American blockchain development company, is pleased to provide an update on its product strategy and roadmap.

As disclosed in the Company’s press release dated March 3, 2021, BCF is placing more emphasis on product development. The company has worked to define its product strategy and has now laid the groundwork for a strong product roadmap that leverages its significant blockchain-related intellectual property.

The company’s roadmap for the remainder of 2021 includes developing a proprietary BCF wallet to hold Syscoin digital assets as well as Ethereum and Bitcoin-based tokens. Once this fundamental portfolio is developed, the Company will continue to create a blockchain-based infrastructure that plugs directly into the portfolio, including:

  • Support for the storage, creation and transfer of non-fungible tokens (NFT);
  • Exchange of tokens between different blockchains within the wallet;
  • Support for the hardware wallet;
  • Integration with CAD and / or USD stablecoins created by BCF;
  • Inter-chain bridge between Syscoin / Ethereum / Binance Smart Chain; and
  • KYC, transactional rules / whitelists and other compliance driven solutions within a token ecosystem supported by BCF.

The Company intends to develop the products described in the table below in sequential order. An exclusive BCF portfolio is expected by the end of the third quarter of 2021. The timeline for product development beyond the initial BCF portfolio will depend on product traction at each stage, as well as other product and advisory opportunities. that could be presented to the Company.

ProductThe descriptionAdvantage for BCFMonetization
Exclusive Blockchain Foundry Wallet
  • BCF proprietary portfolio to interact with the Syscoin and Ethereum ecosystems and activate future products
  • Support for creating and managing Syscoin-based NFTs
  • Support for Syscoin tokens, Bitcoin and Ethereum tokens
  • Basic infrastructure layer to activate future products
  • Allows easy access to the Syscoin ecosystem, including the creation and management of the token and NFT layer
Exchange as a service
  • Low cost swap between blockchain tokens (Syscoin, Bitcoin, Ethereum, others)
  • Integrated with the BCF portfolio and available as a standalone website plus API for third-party integrations
  • Improves the utility of the Syscoin ecosystem
Hardware wallet support
  • Possibility of using the BCF wallet with commercially available hardware wallets
  • Added ERC721 / 1155 support to BCF wallet
  • Increases the vitality of the BCF wallet and the Syscoin ecosystem
  • Provides infrastructure for Syscoin to be supported by custodial services
  • Adds support for Ethereum-based NFTs
  • Increased adoption of the BCF portfolio generates more opportunities to generate fees on portfolio services
CAD and / or USD Stablecoin
  • Syscoin Based CAD and USD Linked Tokens
  • Ability to add custom transactional rule sets to enforce regulatory requirements
  • Native integration into the BCF portfolio
  • Increased utility of the portfolio
  • Activate coverage in fiduciary and remittance solutions on Syscoin
  • Enable DeFi use cases around stable parts
  • Stablecoin purchase and redemption fees
  • Potential for transaction fees
Cross chain bridge
  • Allows users to easily move between blockchain-based token ecosystems (i.e. Syscoin to Ethereum to Binance Smart Chain)
  • Native integration into the BCF portfolio
  • Improves the vitality of the Syscoin ecosystem by leveraging the utility of other major blockchains
  • Expands Potential Adoption of Syscoin and Other BCF Products
  • Fees charged on each cross-chain transaction
Notary/
Compliance product
  • Enables blockchain projects and token issuers to define transaction rules and ensure regulatory compliance in all jurisdictions
  • Allows management of transaction limits, safe / whitelisted addresses, KYC requirements, account revocation / freeze, fully customizable rule sets, etc.
  • White label product with personalized portal for each customer
  • Allows token issuers to add layers of compliance, KYC, transactional rules and oversight
  • SaaS based revenue model with additional transaction fees above certain thresholds

Some of the planned elements of the Company’s roadmap may be subject to regulatory review and the obtaining of an appropriate license by BCF. The regulatory environment for certain blockchain and cryptocurrency products is changing rapidly and the Company will assess its regulatory requirements associated with any product or service.

“We are delighted to present our planned roadmap for the duration of 2021 and look forward to continuing to develop our infrastructure and blockchain tools,” said Dan Wasyluk, CEO of BCF. “We have always viewed ourselves as a company that builds key blockchain infrastructure and the elements of our roadmap continue this theme, but also point to relevant and potentially significant monetization opportunities. We believe that we are still in the early days of blockchain adoption and that our investments in our core infrastructure technology will allow us to gain significant market share as the market for blockchain solutions continues to grow. Blockchain and compliance-driven token infrastructure continues to grow.

About Blockchain Foundry Inc.

Blockchain Foundry develops and markets blockchain-based business solutions and provides consulting services to corporate clients seeking to integrate blockchain technology into their businesses.

Contact details of the Blockchain Foundry:

Dan Wasyluk
Chief Executive Officer
(647) 792-8782
[email protected]

Forward-looking information

Portions of this press release contain “forward-looking information” within the meaning of applicable Canadian securities legislation, also referred to as “forward-looking statements”, which may not be based on historical facts, including but not limited to y limit,, statements concerning BCF’s business strategy and objectives and the expected timelines for future BCF products. Whenever possible, words such as “will”, “plan”, “expect”, “aim”, “continue”, “” “could”, “would” or could, and the negative of such expressions or statements that certain actions, events or results “could”, “could”, “would”, “could” or “would” be taken, occur or be achieved, have been used to identify forward-looking information.

Forward-looking statements should not be interpreted as guarantees of future events, performance or future results, and will not necessarily be precise indicators of times or such events, performances or results will be achieved, if they are achieved. Readers should not place undue reliance on these forward-looking statements, as they reflect the current views of management with respect to future events and are subject to risks and uncertainties and are necessarily based on a number of estimates. and assumptions which, while considered reasonable by BCF, are inherently subject to significant business, economic, regulatory, competitive, political and social uncertainties and contingencies, including, but not limited to, capital expenditures , other costs or implied future forecasts related to new products, the ability of BCF to be successful in doing business, or that it will be successful in developing, marketing or profitably operating its future products as described. in this document, changes to the proposed structure of the products that may be required or appropriate due to laws or regulations s applicable or as a condition of obtaining regulatory approval for the products. In addition, certain future products may require BCF to register or request a registration exemption for which there can be no assurance that such requests will be accepted or completed in a timely manner. Many factors could cause BCF’s actual results, performances or achievements to differ materially from future results, performances or achievements which could be expressed or implied by these forward-looking statements.

The forward-looking statements contained in this press release are made as of the date of this press release, and BCF does not undertake to update any forward-looking statements contained or referenced herein, except in accordance with applicable securities laws.

The forward-looking statements contained in this press release are expressly qualified by this cautionary note.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described in the United States. The securities described in this document have not been registered under the United States Securities Act of 1933, as amended (the “US Securities Act”), or any state securities law and may not be offered or sold in the “United States”, as that term is defined in Regulation S promulgated under the US Securities Act, unless it is registered under the US Securities Act and the securities laws of the United States. Applicable states or a waiver of these registration requirements is available.

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