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.
|Product||The description||Advantage for BCF||Monetization|
|Exclusive Blockchain Foundry Wallet|
|Exchange as a service|
|Hardware wallet support|
|CAD and / or USD Stablecoin|
|Cross chain bridge|
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:
Chief Executive Officer
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.