Sign up Australia
Proactive Investors - Run By Investors For Investors

360 Blockchain set to invest in revolutionary blockchain platform

Subject to terms, Arcology will be funded up to $2mln by 360, which will entitle 360 to 51% of the share capital
360 Blockchain set to invest in revolutionary blockchain platform
The new platform uses machine-learning and pattern-recognition technology to create hierarchical blockchain structures, the firm said

360 Blockchain Inc (CNSX:CODE) revealed it is to invest up to $2mln in Arcology - a first of its kind blockchain platform from the Canadian start-up firm Capital Biotech Inc.

It has been invented by visionary innovator Laurent Zhang, the group said.

READ: 360 Blockchain Inc's Pressland prospect aims to debunk "fake news" through platform

Initially, there will be a $1mln equity injection, which will entitle 360 to shares equal to 30% of the capital.

Subject to terms, Arcology will be funded up to $2mln by 360, which will entitle 360 to 51% of the share capital.

The new platform uses machine-learning and pattern- recognition technology to create hierarchical blockchain structures, solving issues that plague current market leaders, such as speed and scalability, the firm said.

“Laurent Zhang has invented a unique blockchain technology that self-organizes and self-recovers, and we’re thrilled to lead the investment,” said Jeff Koyen, 360’s strategic advisor.

“We see a bright future for his radically new network structure. It will create global market opportunities for both private and public applications.”

READ: 360 Blockchain's acquisition target SV CryptoLab to include on-site bitcoin mining

George Tsafalas, 360's president, added: “In identifying this opportunity, 360 will help advance blockchain technology to where it needs to be in a decade, not just years, from now.

“The blockchain revolution is just beginning, and we’re proud to be at its forefront.”

Shares added 4% to stand at C$0.26 each.

Join our Crypto, Blockchain and Cannabis Telegram group here
View full CODE profile View Profile

360 Blockchain Inc Timeline

Related Articles

Russia picture
June 04 2018
The bulk of overall exposure is in credit and government bonds followed closely by equities
cryptocurrency tokens
October 03 2018
Since launching its advisory service arm last year, the company has already helped raise over US$500mln in token sales
Care worker
August 10 2018
The stock consistently trades above its net asset value per share, which could have something to do with the dividend yield of more than 6%

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use