Global Blockchain Announces Investment in MEvU
February 21 2018 - 11:40AM
InvestorsHub NewsWire
Global Blockchain Announces Investment in MEvU
MEvU will cut middlemen out of
online betting, enabling players to bet against each other -
offering better odds, and limitless wagering options
Vancouver, British Columbia -- InvestorsHub NewsWire -- February
21, 2018) - GLOBAL BLOCKCHAIN TECHNOLOGIES CORP.
(CSE: BLOC) (FSE: BWSP) (OTC Pink: BLKCF) ("GBT" or the
"Company") is pleased to announce its $2 million investment in
the private token offering of MEvU, a product of Decent Tech Inc.
("MEvU").
The sports betting market's magnitude is astonishing. By the
American Gaming Association's estimation, approximately US $400
billion are wagered on sports bets every year. To put that figure
into perspective, that is more than the entire 2017 national GDP of
the United Arab Emirates, or more than a quarter of Australia's.
One element that makes this area possibly unattractive to investors
is the fact that 99% of this wagering volume is done illegally.
With regulatory and accountability concerns, sports betting has
long been off-limits for cautious investors. With its
blockchain-based wagering platform, MEvU introduces a
self-regulating way for users to place bets against other users;
instead of a "house"-type opponent such as a casino or a
bookmaker.
"MEvU is the solution to many of the problems that online betting
participants face", says Shidan Gouran - President of Global
Blockchain. "Currently, players either have to make bets at
unfavourable odds with legal bookmakers, or run a risk of
nonpayment or legal trouble with illegal bookmakers. MEvU is a
wagering ecosystem that prevents both of these downsides,
protecting the best interests of all participants."
This investment is made in conjunction with GBT's acquisition of a
30% interest in Decent Tech Inc., MEvU's parent company. Under the
terms of the agreement, GBT will immediately purchase 4,285,715
Class A Common Shares of Decent Tech Inc., at a price of US $0.07
per share, for a total investment of US $300,000.
MEvU's platform is a decentralized P2P (peer-to-peer) betting
application that matches players who are seeking to place a bet on
an event's outcome at agreed-upon odds. These events can be
occurrences in or outcomes of sporting games - though an option
will also be available for players to make custom bets on anything
at all. For instance, two friends could bet against each other on a
game of beer pong. With MEvU's Smart Contract technology built on
the Ethereum Virtual Machine, wagers can be held upon being placed,
and disbursed in accordance with the wager's terms - effectively
duplicating the functionality of a bookmaker.
Global Blockchain President Shidan Gouran demonstrates this with an
example; "Say there's a soccer game coming up, and a bookmaker has
one player betting $500 on the home team, and another player
betting $500 on the away team. Those two players are basically
betting against each other. So when the bookmaker pays the winner,
they're just paying them with the loser's money and taking a cut
for doing nothing except making sure that the bettors are getting
paid. MEvU does exactly this, but never charging more than 3%,
compared to the industry standard of 10%. When you're betting
hundreds or thousands of dollars, that difference is meaningful -
which is why this will make a big difference in how bets will be
made."
With the skills and experience of GBT's management team coupled
with MEvU's sports betting savvy, this could become a strong
cryptocurrency on the market - and perhaps a game-changer in sports
betting. MEvU's launch timeline is timed as such so that the beta
version will be ready for the 2018 FIFA World Cup in June - an
event that will see billions of dollars wagered worldwide - all of
which will benefit from MEvU's abilities.
"We are thrilled to be able to work with Global Blockchain. We know
that there is big potential here - and this investment, along with
GBT's expertise, will ensure that our vision for MEvU is realized",
says Kelvin Coelho, CEO of Decent Tech Inc.
For more information, please contact info@globalblockchain.io
On behalf of the Company:
Shidan Gouran - President
Tel: +1 (647) 258-6386
About Global Blockchain Technologies Corp.
The Company provides investors access to a basket of direct and
indirect holdings within the blockchain space, managed by a team of
industry pioneers and early adopters of all major
cryptocurrencies.
GBT is listed on the Canadian Securities Exchange ("CSE") and its
common shares trade under the ticker symbol "BLOC." Additional
information relating to GBT is available on SEDAR
at
www.sedar.com, the CSE at
www.theCSE.com, as well as on
the Company's website at
www.globalblockchain.io.
About Decent Tech Inc.
Decent Tech Inc. is dedicated to creating solutions to real-world
problems that are based on decentralization and blockchain
technology. MEvU is the Decent Tech Inc.'s initial application of
these principles to use consensus-based results to verify outcomes
and facilitate peer-to-peer wagering.
For additional information about MEvU, please
visit
www.mevu.bet.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the
meaning of applicable securities laws. Generally, any statements
that are not historical facts may contain forward-looking
information, and forward-looking information can be identified by
the use of forward-looking terminology such as "plans", "expects"
or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases
or indicates that certain actions, events or results "may",
"could", "would", "might" or "will be" taken, "occur" or "be
achieved". Forward-looking information includes, but is not limited
to the Company's goal of streamlining the current arduous, lengthy
and complicated process that interested investors need to undergo
in order to gain exposure to the cryptocurrency space with a view
to becoming the first vertically integrated originator and manager
of top-tier blockchains and digital currencies. The Company has no
assets and its business plan is purely conceptual in nature and
there is no assurance that it will be implemented as set out
herein, or at all. Forward-looking information is based on certain
factors and assumptions the Company believes to be reasonable at
the time such statements are made, including but not limited to:
statements and expectations regarding the ability of the Company to
(i) successfully engage senior management with appropriate industry
experience and expertise, (ii) gain access to and acquire a basket
of cryptocurrency assets and pre-ICO and ICO financings on
favourable terms or at all, (iii) successfully create its own
tokens and ICO's, and (iv) execute on future M&A opportunities
in the cryptocurrency space; receipt of required regulatory
approvals; the availability of necessary financing; permitting and
such other assumptions and factors as set out herein.
Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information, including but not limited to: risks
related to changes in cryptocurrency prices; the estimation of
personnel and operating costs; general global markets and economic
conditions; risks associated with uninsurable risks; risks
associated with currency fluctuations; competition faced in
securing experienced personnel with appropriate industry experience
and expertise; risks associated with changes in the financial
auditing and corporate governance standards applicable to
cryptocurrencies and ICO's; risks related to potential conflicts of
interest; the reliance on key personnel; financing, capitalization
and liquidity risks including the risk that the financing necessary
to fund continued development of the Company's business plan may
not be available on satisfactory terms, or at all; the risk of
potential dilution through the issuance of additional common shares
of the Company; the risk of litigation. Although the Company has
attempted to identify important factors that could cause actual
results to differ materially from the forward-looking information
set out in this presentation, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such forward-looking information will prove to
be accurate, as actual results and future events could differ
materially from those anticipated in such information. Accordingly,
readers should not place undue reliance on forward-looking
information. Forward-looking statements are made based on
management's beliefs, estimates and opinions on the date that
statements are made and the Company undertakes no obligation to
update forward-looking statements if these beliefs, estimates and
opinions or other circumstances should change, except as required
by law. Investors are cautioned against attributing undue certainty
to forward-looking statements.
Neither the CSE nor its Regulation Services Provider (as that term
is defined in the policies of the CSE) accepts responsibility for
the adequacy or accuracy of this release.
Global Blockchain Technologies Corp (TSXV:BLOC)
Historical Stock Chart
From Apr 2024 to May 2024
Global Blockchain Technologies Corp (TSXV:BLOC)
Historical Stock Chart
From May 2023 to May 2024