Blox Labs Initiates BaaS Smart Contract Model "BLOXsmart" to advance "ease-of-use" Blockchain Applications
Toronto, Ontario / TheNewswire / September 04, 2018 - Blox Labs Inc. ("BLOX" or "the Company") (CSE: BLOX) (Frankfurt: BR1B), a technology development company focused on creating best-in-class software solutions driven by emerging trends in Blockchain, Smart Contracts and Decentralized Applications is pleased to announce the initiation of their proprietary Blockchain-as-a-Service ("BaaS") Smart Contract Model "BLOXsmart".
BLOXsmart aims to ease the difficulties associated with the generation of Blockchain Smart Contracts which is the evolution of Global Blockchain Applications. Blockchain initially gained fame as the underlying technology used by Bitcoin in 2008 and furtherance as the backbone structure for all 1600+ cryptocurrency and alternative coins - "altcoins", including Ethereum and beyond. Ethereum revolutionized the Blockchain application by understanding the future possibilities of the DApps (Decentralized Applications) using individual nodes as consensus algorithms versus today's world where corporate infrastructure relies on one central authority or main server allowing for increased threat of cyberattack or malicious intent. The Decentralized Application of Blockchain creates immutable record keeping and enables trust enhancing peer-to-peer transactions thereby removing intermediaries. As Governments and Organizations all begin to see the benefits of streamlining archaic processes with the evolution of Blockchain Smart Contracts, there is more pressure on technology partners to make the process painless with an "ease-of-use" methodology.
Curtis Ingleton, Blox Labs CTO commented, "By creating an intuitive discovery process to generate the Smart Contract we not only limit the access of sensitive project information but ease the dialogue between customers and developers." He continued, "It is our mandate to assist customers in understanding why they require Blockchain Smart Contracts and make them feel they are part of a comprehensive process with ease-of-use methodology. This enables trust with our clients and partners as the sector progresses forward from "Blockchain 1.0", such as Bitcoin, to "Blockchain 3.0", where we have decentralized data storage and evolved Smart Contract technology."
Jeff Zanini, CEO of Blox Labs added, "We are pleased to add a product offering that has a sustainable monetization path in BLOXsmart. This is a large step forward in assisting companies to understand the necessities of Blockchain. The underlying challenge is scaling of knowledge in the corporate world. Personally, coming from large private corporations, I can fully understand why a company would take the path of least resistance, even at the risk of going in the wrong direction as we tend to move towards comfort zones. In order to fully realize the potential of Blockchain, we want to create a path for business leaders so as to embrace the possibilities that it affords. It was necessary to build out a product that can clearly communicate to the corporate world why and where they need Blockchain Smart Contract applications, then relieve the pain-points of implementation with our ease-of-use platform. BLOXsmart will solve that problem." The Company will provide further updates as the build-out of the project progresses. Current architecture is in advanced stages and finalization of BLOXsmart for commercial launch is projected in relatively short order.
About Blox Labs
Blox Labs Inc. is a technology development company focused on creating best-in-class software solutions driven by emerging trends in Blockchain, Smart Contracts and Decentralized Applications. BLOX is helping customers with solutions for business problems from proofs of concept through execution. The Company is currently piloting blockchain solutions for supply chain management and improvement as well as other areas. BLOX is actively targeting partnerships and strategic acquisitions of growth companies.
ON BEHALF OF THE BOARD
CEO and Director
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This news release includes forward-looking information within the meaning of Canadian securities legislation concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company, including future plans for development of technologies by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this news release are made as of the date of this news release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.