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Global Blockchain Technologies launches beta testing for Singularity product

Singularity combines the capability of the Laser and Stellar blockchain networks, by bridging the two networks

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The firm is a blockchain and crypto-focused company

Global Blockchain Technologies Corp. (CSE:BLOC)  has begun beta testing of its so-called Singularity project.

Global's main aim with its tech is to streamline the currently arduous, lengthy, and complicated process that interested investors must undergo in order to gain exposure to cryptocurrency.

Singularity harnesses the abilities of both the Laser and Stellar blockchain networks, by bridging the two networks.

Decentralisation

"Singularity is able to offer decentralised custody, as well as a decentralised order book," explained the blockchain-focused group.

The firm explained that "custodianship" remained a pressing issue in the trade of crypto assets, with fewer traders trusting their capital to centralized exchanges that provide custody since they can "lose their balance in the event that the exchange is hacked".

"Crypto has come a long way in 2018", said Steve Nerayoff, the chairman of the firm.

"With Singularity now on the market, it will take the space a significant step forward, providing value to both retail and institutional investors by taking away the problems that are created by centralized custody and centralised order books.

"Singularity represents what the crypto space was going for from the very beginning, and I am eager to see how it will enrich the space as it gets rolled out."

Global Blockchain Technologies Corp.s president and chief executive Shidan Gouran added: "By taking decentralisation to another level in a way that greatly benefits crypto traders, Singularity will bring a lot of value to the industry.

"We are excited to be leading the way with it, as one of our many projects that is going according to plan."

Shares nudged up 3.33% to $0.155 in Toronto.

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