(TSX VENTURE:BTL) (“BTL” or the “Corporation”) is pleased to announce that it has been invited to showcase its blockchain technology at the BC Tech Summit, January 18th & 19th, 2016 in Vancouver, British Columbia. At the Summit, BTL will be launching Interbit, it’s remittance platform, with a live demo showing real-time remittances and displaying the low transaction costs of those remittances. The live Interbit demo will demonstrate the ability of this platform to significantly reduce the cost of remitting funds from Canada to the Philippines and Mexico. In addition, BTL has accepted invitations to meet during the event with a number of companies seeking opportunities to innovate using blockchain technology. BTL seeks to build on its accomplishments by developing strategic business relationships and a client base for its innovative blockchain technologies.
“Now that core development of the Interbit platform is completed, BTL will be working on the development of strategic business relationships to embed this platform into broad based remittance products, while expanding the number of countries to which customers will be able to remit money,” said Guy Halford-Thompson, CEO of BTL. “Strategically leveraging blockchain technology into our Interbit platform should reduce the cost of remittances by over 80%.”
BTL has also started development on its second product offering, BTL Digital Asset Management (“DAM”), an immutable data store built on blockchain technology. By leveraging blockchain technology, DAM seeks to provide enterprise level customers secure data manipulation platforms that can be applied to numerous industries. DAM will have many applications, including to auditing, data security, biometric authentication and settlement.
With the completion of core development on Interbit and its listing on the TSX Venture Exchange, BTL has achieved the material milestones that it set out for 2015. In 2016, BTL will continue to utilize blockchain technology to build innovative real world applications that will aim to solidify its role as a leader in the continually growing and evolving blockchain sector.
BTL is a technology company whose current business is focused on developing blockchain technologies to disrupt and transform existing industries. Technology is developed in-house and through BTL’s incubator and accelerator programs, based in Vancouver, British Columbia. BTL’s first technology platform is a remittance business called Interbit with a focus on leveraging blockchain technology to create rapid and cost effective “cash-in cash-out” settlement solutions from Canada and the United Kingdom to target countries.
Certain statements in this release are forward-looking statements, which include the date of trading of BTL’s common shares on the Exchange, final regulatory approvals, the proposed use of proceeds from the Offerings and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond the control of BTL. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, BTL disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, BTL undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.