CASTLE ROCK, Colo.,
Nov. 16, 2017 /PRNewswire/ -- Riot
Blockchain, Inc., (Nasdaq: RIOT) (the "Company") today announced it
has made a strategic investment in Verady, LLC ("Verady"). Verady
combines blockchain technology and industry thought leadership to
bring accounting standards and audit services to the cryptocurrency
market. Verady provides accounting, audit, and verification for
blockchain based assets such as cryptocurrencies. The Company's
investment in Verady will be used to further advance its technology
and increase the size of its team.
Founded in 2016, Verady recently launched VeraNet, a
decentralized network of financial reporting and accounting tools
targeted to the needs of the cryptocurrency community. Verady
follows recent investments the Company has made into Coinsquare,
Tess, and its Bitcoin mining operation.
"This investment continues our commitment to building blockchain
technologies," said John O'Rourke,
Chairman and Chief Executive Officer of Riot Blockchain. "With
recent highs in Bitcoin and other cryptocurrency valuations, there
is significant market potential for blockchain and digital asset
technologies. We will continue to increase our involvement and
support of the blockchain ecosystem, as we ramp up our Bitcoin
mining operations."
"As early movers in the crypto audit and accounting ecosystem,
the investment from Riot Blockchain will enable us to enhance our
services which are crucial to the adoption and growth of blockchain
assets." said Kell Canty, Co-founder and CEO of Verady.
The blockchain is a decentralized and encrypted ledger that
offers a secure, efficient, verifiable and permanent way of storing
records and other information without the need for intermediaries.
These protocols are the backbone of numerous digital
cryptocurrencies, including Bitcoin, Ethereum and Litecoin.
Blockchain protocols have a wide range of use, including processing
transactions, managing medical records, verification and proof of
ownership across a far-reaching spectrum of applications.
About Verady
Verady provides cryptocurrency accounting and audit technology
services through VeraNet, where financial institutions,
corporations, and individuals can audit, account, and report on
blockchain assets. Verady believes traditional accounting systems,
firms, and standards are currently lacking functionality around
cryptocurrencies. VeraNet will be the bridge between
cryptocurrencies and traditional financial accounting which is
needed to further their acceptance and growth. For more information
about Verady please visit http://www.Verady.com or follow
@veradyinfo on Twitter.
About Riot Blockchain
Riot Blockchain, Inc., (formerly Bioptix, Inc.) leverages its
expertise and network to build and support blockchain technologies.
It is establishing an Advisory Board with technical experience
intending to become a leading authority and supporter of
blockchain, while providing investment exposure to the rapidly
growing Bitcoin and blockchain ecosystems. For more information,
visit http://www.RiotBlockchain.com/.
The company continues to maintain its existing Bioptix business
segment, including its royalty license stemming from an Exclusive
License Agreement with Ceva Santé Animale S.A., providing an
exclusive worldwide royalty-bearing license, until December 31, 2028, to develop, seek regulatory
approval for and offer to sell, market, distribute, import and
export luteinizing hormone and/or follicle-stimulating hormone
products for cattle, equine and swine for the assistance and
facilitation of reproduction.
Safe Harbor
The information provided in this press release may include
forward-looking statements relating to future events or the future
financial performance of the Company. Because such statements are
subject to risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking
statements. Words such as "anticipates," "plans," "expects,"
"intends," "will," "potential," "hope" and similar expressions are
intended to identify forward-looking statements. These
forward-looking statements are based upon current expectations of
the Company and involve assumptions that may never materialize or
may prove to be incorrect. Actual results and the timing of events
could differ materially from those anticipated in such
forward-looking statements as a result of various risks and
uncertainties. Detailed information regarding factors that may
cause actual results to differ materially from the results
expressed or implied by statements in this press release relating
to the Company may be found in the Company's periodic filings with
the Securities and Exchange Commission, including the factors
described in the sections entitled "Risk Factors", copies of which
may be obtained from the SEC's website at www.sec.gov. The parties
do not undertake any obligation to update forward-looking
statements contained in this press release.
Media Contacts
Karen
Chase or Travis Kruse
Russo Partners, LLC
(646) 942-5627
(212) 845-4272
karen.chase@russopartnersllc.com
travis.kruse@russopartnersllc.com
Investor Contact
IR@RiotBlockchain.com
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SOURCE Riot Blockchain, Inc.