MGR2, LLC Makes Strides to Include MTrac Payment Platform in Legislation Across the Nation
September 24 2018 - 8:30AM
InvestorsHub NewsWire
MGR2, LLC Makes Strides to Include MTrac Payment
Platform in Legislation Across the
Nation
San Diego, CA -- September 24, 2018 --
InvestorsHub NewsWire -- Global Payout Inc. (OTCPink:
GOHE) (“Global”) and its
wholly owned subsidiary MTrac Tech Corp. (“MTrac” or the “Company”)
are pleased to announce that MGR2, LLC (“MGR2”), the government
relations team engaged by the Company, has made significant strides
in recent weeks to incorporate language regarding blockchain in
State Assembly Bills to develop cashless ecosystems for legal
marijuana businesses. The degree of regulatory challenges
facing the legal marijuana industry, whether medical or
recreational, is significant at the legislative level and creates
uncertainty in states’ oversight decisions. While anticipating new
measures and classifications handed down by the federal government,
these ‘legal’ states are searching for solutions to enact
legislation that would help to enhance regulatory controls in their
respective cannabis marketplaces. While many licensed cannabis
businesses have access to limited purpose bank accounts where they
are able to deposit cash, they still lack compliant, digital
payment solutions, which means that the states continue
facing regulatory challenges associated with cash, while those
businesses continue being exposed to risks and increased overhead
costs related to the manual processes necessary in accepting and
reconciling cash as their main payment
method.
The team at MGR2, LLC (“MGR2”) has been working
closely with various Assemblymen to solve this problem for the
state of New Jersey. As the legislators behind A10, the state’s
bill to expand their already successful medical marijuana system,
these legislators understand the problems facing the cannabis
industry in their state. Concerns were expressed about the
viability of a blockchain payment system, but after hearing the
degree of security of the MTrac Platform, and the expertise behind
the technology, language suggested by MTrac and MGR2 to establish a
cashless system is being considered for inclusion in the new bill.
Because of the interest in the feasibility of implementing a viable
digital payment solution, the MTrac team has invited a legislative
delegation from New Jersey to San Diego to further discuss the
technology and to see the platform first
hand.
Additionally, Carol Gabel, Partner at MGR2, a
blockchain and cybersecurity expert, will be participating in an
educational forum on Tuesday which will include the Commissioner of
Health for the State of New Jersey and other leaders in both the
education and cannabis sectors there. Carol’s focus will be on the
application of blockchain to create a safe and secure cashless
system, not only in cannabis but other industries as well. David
Spector of MGR2 will also be meeting with influential legislators
outside of New Jersey to discuss the system in more detail where
his team’s strides have started to peak the interest of
legislatures in other states; among them Ohio, Florida, and
potentially Michigan. Mr. Spector intends to use the language
suggested by MTrac and MGR2 for the purpose of advancing a
transparent and regulatory-compliant payment system to enhance
those states’ cannabis policy initiatives.
“The goal of every legislature intending to
implement either medical or recreational cannabis is to do so in a
responsible manner that provides for the safety and security of the
businesses operating in the industry and the community at large,”
said MGR2 founder Barry Lefkowitz. “The system that MTrac brings to
the table does just that while also offering legislators an
opportunity to approve a digital payment system that helps to ease
concerns of regulatory oversight related to a cash-heavy industry.
The system eliminates cash, which deters theft and fraud, giving
local municipalities the unprecedented ability to rely on
blockchain, with its inherent security and record keeping
capabilities, to provide traceable transactions, which not only
enhances regulatory controls but also increases tax revenue and the
efficiency with which it’s received. It is, in my opinion, a
uniquely valuable tool that any government would do well to
utilize.”
“As we make our push for legislative recognition
of MTrac’s platform as a state-approved blockchain payment solution
we begin to see the big picture really start to unfold where
finance and new technologies converge to support unique economies.”
said MTrac CEO, Vanessa Luna.
About Global Payout,
Inc. (OTC
Pink:GOHE)
From 2014 to 2017 Global focused on identifying new state of the
art technologies in a variety of industry sectors and successfully
helped launch MoneyTrac Technology Inc. and other companies within
the FinTech space. In 2018, Global completed a reverse triangular
merger with MoneyTrac Technology Inc. resulting in Global retaining
the wholly owned subsidiary, MTrac Tech Corporation. Global’s
current focus is continuing to identify new business opportunities
while it reorganizes its future business
endeavors.
About MTrac Tech
Corp.
MTrac Tech Corporation. a Nevada Corporation is a privately held
wholly owned subsidiary of Global Payout, Inc. MTrac is a software
technology, sales and marketing, and business development company
focused on “high risk” and “high cost” industries. The Company’s
flagship product is the MTrac payment platform offering a
full-service solution for alternative banking and electronic
financial marketplace with technology offerings including Payment
Platform, Blockchain, Compliance, POS, E-Wallet, Mobile Application
and Digital Payment Solutions. We are one network disrupting the
status quo. It is MTRAC’S creative vision through the use of its
innovative technology solution to become the premier service
provider offering the “Key to CashlessTM”
Forward-Looking Statements Disclaimer:
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meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
In some cases, you can identify forward-looking statements by the
following words: "anticipate," "believe," "continue," "could,"
"estimate," "expect," "intend," "may," "ongoing," "plan,"
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although not all forward-looking statements contain these words.
Forward-looking statements are not a guarantee of future
performance or results and will not necessarily be accurate
indications of the times at, or by, which such performance or
results will be achieved. Forward-looking statements are based on
information available at the time the statements are made and
involve known and unknown risks, uncertainty and other factors that
may cause our results, levels of activity, performance or
achievements to be materially different from the information
expressed or implied by the forward-looking statements in this
press release. This press release should be considered in light of
all filings of the Company that are disclosed on the OTC
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