360 Blockchain set to invest in revolutionary blockchain platform
It has been invented by visionary innovator Laurent Zhang, the group said.
Initially, there will be a $1mln equity injection, which will entitle 360 to shares equal to 30% of the capital.
Subject to terms, Arcology will be funded up to $2mln by 360, which will entitle 360 to 51% of the share capital.
The new platform uses machine-learning and pattern- recognition technology to create hierarchical blockchain structures, solving issues that plague current market leaders, such as speed and scalability, the firm said.
“Laurent Zhang has invented a unique blockchain technology that self-organizes and self-recovers, and we’re thrilled to lead the investment,” said Jeff Koyen, 360’s strategic advisor.
“We see a bright future for his radically new network structure. It will create global market opportunities for both private and public applications.”
George Tsafalas, 360′s president, added: “In identifying this opportunity, 360 will help advance blockchain technology to where it needs to be in a decade, not just years, from now.
“The blockchain revolution is just beginning, and we’re proud to be at its forefront.”
Shares added 4% to stand at C$0.26 each.
Story by ProactiveInvestors