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360 Blockchain set to invest in revolutionary blockchain platform

Subject to terms, Arcology will be funded up to $2mln by 360, which will entitle 360 to 51% of the share capital
360 Blockchain set to invest in revolutionary blockchain platform
The new platform uses machine-learning and pattern-recognition technology to create hierarchical blockchain structures, the firm said

360 Blockchain Inc (CNSX:CODE) revealed it is to invest up to $2mln in Arcology - a first of its kind blockchain platform from the Canadian start-up firm Capital Biotech Inc.

It has been invented by visionary innovator Laurent Zhang, the group said.

READ: 360 Blockchain Inc's Pressland prospect aims to debunk "fake news" through platform

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.”

READ: 360 Blockchain's acquisition target SV CryptoLab to include on-site bitcoin mining

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.

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Newswire
November 20 2017

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