VANCOUVER, Feb. 28, 2018 /CNW/ - HashChain Technology Inc.
("HashChain" or the "Company") (TSXV: KASH;
OTCQB: HSSHF) today announces they voted affirmatively on a series
of Dash proposals engineered to establish and promote DASH
cryptocurrency as the future of global payments. HashChain holds a
masternode in Dash that allows the Company voting privileges on
budget proposals paid for by Dash's treasury, or important
decisions that affect the currency. DASH is a form of "Digital
Cash" providing realistic, reliable, digital cash solution for the
global economy.
The first approved DASH proposal will budget 18 Dash, an
approximate $15,200 CDN value based
on Dash's $846.25 CDN price on
February 22, 2018, over a three month
period to develop a payment system for retail markets in
Europe, beginning in the UK,
further expanding the potential for Dash to be a form of global
payments. This includes integration with NOBLY Point of Sale (POS),
the largest UK POS provider, and more than 50 merchant integrations
are anticipated by the end of Q2 2018. Voting for the second
proposal, which closes in under a week, determines whether to
budget 41 Dash, an approximately $34,700
CDN value based on the above referenced Dash value, over a
three month period to fund "Dash Academy", an online education
platform with courses and information designed to educate on how
the Dash ecosystem operates as a currency and viable payment
option.
"Dash is a technologically advanced cryptocurrency that supports
features like PrivateSend and InstantSend; initiatives such as
these helps accelerate growth and market share," said Patrick Gray,
CEO and Founder of HashChain. "We are excited to have the
privilege as a masternode holder to help push forward initiatives
that educate and continuously promote Dash's viability as a payment
method for countries around the globe."
In October 2017, HashChain
purchased 1,000 Dash for a total of $280,000
USD. To run a masternode, an investor must have at least
1,000 Dash in their wallet. By running a masternode, HashChain can
participate in voting on Dash initiatives that have a direct
influence on the direction of the network. Masternodes allow users
of Dash to carry out anonymous transactions ("PrivateSend) and
enable instantaneous transactions ("InstantSend") that eliminate
bottlenecks in the blockchain and provide double-spend-proof
capabilities. The Dash network currently rewards masternodes at a
rate of 6.6 Dash per month. On February 22,
2017, Dash was valued at $27.66
CDN, and a year later on February 22,
2018, it was valued at $846.25
CDN, that is the equivalent to $5,585.25 CDN per month per masternode. The
Company will not be receiving USD (or any other fiat
currency) as a result of the Company's plans not to convert the
Dash from the masternodes into Fiat and until the Company's plans
change at which time there can be no assurances that the price of
Dash will not significantly decrease due to its price volatility or
that the Dash could be converted into USD (or any other
fiat currency) at that time.
About HashChain Technology Inc.
HashChain is a blockchain company, and the first publicly traded
(TSXV:KASH: OTCQB: HSSHF) Canadian cryptocurrency mining company to
file a final prospectus supporting highly scalable and flexible
mining operations across all major cryptocurrencies. HashChain taps
low-cost North American power, cool climate and high-speed
Internet: the trifecta most critical to mining success, to create a
competitive position for maximizing the number of mining 'wins.'
HashChain currently operates 100 Dash mining Rigs, have received
770 Bitcoin Rigs, and has purchased an additional 3,000 Rigs. Once
all Rigs are operational HashChain will be consuming approximately
5.8 megawatts of power. HashChain also acquired a Dash Masternode
for approximately USD $280,000 which
requires a collateral investment of 1,000 Dash
coins. Diversifying their business strategy beyond crypto
mining, the company recently acquired NODE40, a blockchain
technology company that developed NODE40 Balance, a new
SaaS product making cryptocurrency tax reporting simpler and more
accurate. The solution allows cryptocurrency users and traders to
accurately report their capital gains and losses. NODE40 is also
one of the leading masternode server-hosting providers for the Dash
network and is seeking additional alternate coin masternode
hosting.
HashChain Mining is a wholly owned subsidiary of HashChain
Technology Inc. based out of Albany, New
York, with offices in Vancouver,
British Columbia and Geneva,
Switzerland.
On Behalf of the Board,
Patrick Gray
CEO & Director
For Further information please contact:
HashChain Technology Inc.
Larry Heinzlmeir
Vice President, Marketing & Communications
Larry@HashChain.ca
604-537-8676
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Note Regarding Forward Looking Statements: Certain
disclosure in this release, including statements regarding the
performance of the Company's current and ordered Rigs, and
expectations regarding future operations may constitute
forward-looking statements. In making the forward-looking
statements in this release, the Company has applied certain factors
and assumptions that are based on the Company's current beliefs as
well as assumptions made by and information currently available to
the Company, the 3,000 Rigs will be successfully delivered, and the
3,000 Rigs will perform as expected by management. Although the
Company considers these assumptions to be reasonable based on
information currently available to it, they may prove to be
incorrect, and the forward-looking statements in this release are
subject to numerous risks, uncertainties and other factors that may
cause future results to differ materially from those expressed or
implied in such forward-looking statements. Such risk factors may
include, among others, the risk that the 3,000 Rigs will not be
successfully delivered to the Company when expected by management
or at all, and the risk that the Company's current and ordered Rigs
will not perform as expected by management. Readers are
cautioned not to place undue reliance on forward-looking
statements. The Company does not intend, and expressly disclaims
any intention or obligation to, update or revise any
forward-looking statements whether as a result of new information,
future events or otherwise, except as required by law.
SOURCE HashChain Technology Inc.