United Blockchain Corp becomes UnitedCorp 's new Wholly-owned Subsidiary
December 28 2017 - 9:43AM
InvestorsHub NewsWire
United Blockchain Corp becomes UnitedCorp ‘s new Wholly-owned
Subsidiary
MIAMI, FL, December 28, 2017 -- InvestorsHub Newswire --
Miami-based United American Corp ("UnitedCorp"),
(OTC: UAMA) announced today
that it has created a new wholly-owned subsidiary, United
Blockchain Corp (“United Blockchain”) (Delaware), in order to
commercialize BlockNum, its patent pending blockchain
technology.
BlockNum Global Distributed Ledgers
Ecosystem
This follows UnitedCorp’s announcement last week of the
BlockNum(TM) technology, a Proof-of-Consensus PSTN SIP-based
distributed ledger network architecture. BlockNum(TM) uses a
token engine which transports them over the Public Switched
Telephone Network. Using BlockNum, United Blockchain will be able
to provide any company the capability to operate a
cryptotoken-based business using smart contracts and blockchains.
UnitedCorp believes that this is the future for financial and
service transactions between parties and that most if not all
businesses operations and personal transactions will eventually
occur via some form of cryptotoken using Smart Contracts on a
decentralized blockchain environment. BlockNum(TM) is designed for
easy implementation within existing company financial
processes.
United Blockchain will focus initially on telecom and technology
companies that wish to transport their Smart Contract tokens and
currencies over the PSTN for instant global reach. The first such
project will be with TNW, a Canadian based carrier where United
Blockchain will transform TNW’s mobile, fixed and Internet services
as well as its cloud based services voice and data service
exclusively to a token-based ecosystem using the GIGA transport
token.
When fully implemented all service payments for mobile, residential
Internet, voice, private networks as well as social media
monetization will be manageable and rendered through a single
transport token under BlockNum(TM).
The entire United Blockchain back end is expected to be managed by
smart contracts by the end of Q2 coinciding with the production
release of BlockNum, 2018, improving scalability and
efficiency of the company as the PSTN by its very nature is
universal and instantly scalable as BlockNum allows the creation of
personal wallets based on phone numbers.
‘’Cryptographically-based distributed ledger currencies such as
Bitcoin and Smart Contract-based networks such as Ethereum will
provide amazing improvement in our lives, but simply not
sustainable or scalable as standalone technologies,” stated Benoit
Laliberte, UnitedCorp’s President. “We believe that BlockNum will
eventually permit anyone to have immediate and global access to
both fiat and crypto currencies or Smart Contract-based tokens
through the use of the most basic and widely available network -
their phone numbers.’’
UnitedCorp recently completed an initial round of private placement
funding and is currently working on second round that is planned
for early in the new year.
About United American Corp
Established in 1992, United American Corp is a Florida-based
development and management company focusing on telecommunications
technologies. The company currently holds the rights to manage a
portfolio of patent and proprietary technology in
telecommunications, social media and more recently in Blockchain
PSTN technology. For more information, visit: www.unitedcorp.com
This news release contains forward-looking statements that are
subject to various risks and uncertainties. The Company’s actual
results could differ materially from those anticipated in such
forward-looking statements as a result of numerous factors that may
be beyond the Company’s control. Forward-looking statements are
based on the expectations and opinions of the Company’s management
on the date the statements are made, and the Company assumes no
obligation to update forward-looking statements should
circumstances in management’s expectations or opinions change.
Source:
United American Corp
Contact:
Jenna Trevor-Deutsch
Investor Relations
investorrelations@unitedcorp.com
604 398 5000 ext: 109
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