Global Blockchain Mining Corp (CSE:FORK) (OTCMKTS:GBCHF) says it has struck a deal with US-based AmmbrTech, which will bring internet connectivity to parts of northern Canada that currently do not have reliable access.
It comes following the crowdsale for the AMR crypto asset and sees the formation of subsidiary Ammbr Telecom, in which Global Blockchain Mining (FORK) te regions
will invest its holdings of AMR tokens and shall receive a 25% stake of its shares.
READ: Global Blockchain Mining concludes crowdsale for provider of 'last mile' internet access to remo
The Ammbr network is a blockchain platform, which manages a wireless mesh network, which acts as a decentralized Internet service provider (ISP).
Individuals with internet connections are able to "sell" their bandwidth through the network, and individuals who seek to use the internet may do so using Ammbr Network connections within range.
Ammbr network transactions are settled using the AMR cryptocurrency token, which is capable of processing near-instant micropayments.
The main business focus of today's agreement is on servicing the natural resource industry, but Ammbr Telecom will also be working with disadvantaged and low-income communities, said FORK.
"According to the World Bank, more than 91 percent of Canada's population uses the Internet; though that means close to nine percent does not, which is more than 3.3 million people, many of whom are up north," said Shidan Gouran, President and CEO of FORK.
"There are many government grants available for the rollout of networks like the Ammbr network, and we believe that we have made a very good investment into Ammbr Telecom enabling this to happen."
Meanwhile, Simon Ditner, the chief technologist of Global Blockchain Mining will be joining Ammbr Telecom as its Chief Technologist to provide oversight of its technologies and technical matters.
Ammbr Foundation (with which FORK partnered in October last year) management members Derick Smith and Rakesh Rajagopal will also take part in the management team of Ammbr Telecom.
AmmbrTech CEO Derick Smith said: "In 2019, there will be two major, large-scale use cases of the Ammbr Network on opposite sides of the globe, between our rollout in northern Canada, and our rollout in India. As we will be servicing companies as well as disadvantaged communities, this fulfills our visions for Ammbr, including the social impact of bringing Internet connectivity to those who need it the most."
Contact Giles at [email protected]