Arcology to empower enterprise-level public and private blockchains with industrial applications, evolving the space currently led by Ethereum
VANCOUVER, BC, CANADA (December 7th, 2017) – 360 Blockchain Inc. ("360" or the "Company") (CSE: CODE – FWB: C5B – OTC: BKLLF) announces its investment in Arcology (http://arcology.network), a first-of-its-kind blockchain platform from Alberta, Canada-based start-up Capital Blocktech Inc.
By utilizing machine-learning and pattern-recognition technology to create hierarchical blockchain structures, Arcology will solve the problems that plagues current market leaders, such as speed and scalability. Arcology inventor Mr. Laurent Zhang will lead the development, utilizing the 360 investment with the support of 360’s leadership and advisors.
- Arcology will be initially funded by a $1,000,000 equity injection, which will entitle 360 to shares equal to 30% of the then-issued and outstanding shares.
- Subject to the terms, Arcology will be funded up to $2,000,000 by 360; the full $2,000,000 will entitle 360 to the number of shares equal to 51% of the then-issued and outstanding shares.
“Laurent Zhang has invented a unique blockchain technology that self-organizes and self-recovers, and we’re thrilled to lead the investment,” said Mr. 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.”
Mr. Zhang is a visionary and innovator with technical expertise and leadership in blockchain technologies, cryptocurrencies, distributed system design, artificial intelligence, algorithm optimization and performance tuning.
Mr. Zhang has served as VP of Engineering for QuickFlo Health Inc.; Chief Technology Officer for HPIS Technologies; Research Scientist for Baker Hughes Inc.; University of Alberta Research Engineer; and Manager and Senior Engineer for MKS Instruments. He has an M.Sc. in Intelligent Systems from University of Sunderland, UK, and a B.Sc. Honours in Computing from Oxford Brookes University, UK.
“In identifying this opportunity, 360 will help advance blockchain technology to where it needs to be in a decade, not just years, from now,” said Mr. George Tsafalas, 360 President and CEO. “The blockchain revolution is just beginning, and we’re proud to be at its forefront.”