Arcology’s radically new blockchain platform to outperform current market leaders, such as Ethereum, on key variables including speed, scale and price
VANCOUVER, BC, CANADA (December 18, 2017) – 360 Blockchain Inc. ("360" or the "Company") (CSE: CODE – FWB: C5B – OTC: BKLLF) is pleased to provide this update on its recently announced investment in Arcology’s transformative blockchain technology platform.
Contemporary blockchain networks are flat and two-dimensional. Participating nodes are judged and rewarded according to their computing power (called “proof of work”) or investment in the network itself (called “proof of stake”), or some hybrid thereof. Each has its pros and cons.
Arcology founder and leader, Mr. Laurent Zhang, has invented a radically new way of looking at blockchain. Leveraging his experience with machine learning, artificial intelligence and big data algorithmic analysis, he is creating a hierarchical structure that is self-organizing and self-repairing. Mr. Zhang’s senior level experience and education highlights include:
● Chief Technology Officer, HPIS Technologies
● Research Scientist, Baker Hughes Inc.
● University of Alberta Research Engineer
● M.Sc. in Intelligent Systems, University of Sunderland, UK
● B.Sc. Honours in Computing, Oxford Brookes University, UK
Mr. Jeff Koyen, Strategic Advisor and 360 Blockchain USA President and CEO, explained, “If we imagine a contemporary blockchain as a flat disc, Zhang’s is a layer cake that is constantly improving itself. Arcology behaves more like a living community than a network of computers.”
The Market Opportunity
With a $67 billion market cap, Ethereum is the current leader in this space. Ethereum can be viewed as Bitcoin plus an operating system: It’s a programmable platform that uses “smart contracts” to execute commands and transactions according to predefined conditions and protocols.
“But Ethereum is suffering from its success,” added Mr. Koyen. “Transaction speeds have slowed; there are questions about scalability; and fees are becoming prohibitive. Zhang and his team are learning from Ethereum’s mistakes.”
“For all the hype surrounding Bitcoin and other highly speculative cryptocurrencies, it’s the underlying technology — blockchain — that has the greatest future,” said Mr. George Tsafalas, 360 Blockchain Inc. President and CEO. “At 360 Blockchain, we’re committed to building this future, and our investment in Arcology is a significant leap in that direction.”