Global Blockchain Mining Corp. Announces Revised Strategy for Mining Spinout

November 14, 2018 12:01 AM EST | Source: Metaverse Capital Corp.

Along with mining Bitcoin with its newly expanded capacity, the Company has elected to operate masternodes, witnesses, block producers and other kinds of "servicenodes" for various blockchain networks. Such nodes perform key trust services for blockchain networks to provide specialized features, being backed by collateral to ensure operators' integrity. By operating nodes, the Company will be able to earn revenue almost immediately, in addition to its regular revenues from Bitcoin mining.

Vancouver, British Columbia--(Newsfile Corp. - November 14, 2018) - GLOBAL BLOCKCHAIN MINING CORP. (CSE: FORK) (OTC Pink: GBCHF) ("FORK" or the "Company") announces that its management has elected to commence a strategy in which it will operate masternodes for two-tier blockchain networks that utilize servicenodes to provide trust services for specialized features, such as expedited transactions.

As of this release, the Company has launched servicenodes on the Dash, Horizen, Zcoin, PIVX and Loki blockchain networks. Additionally, the Company will be operating servicenodes on the Laser, Ammbr and several additional networks, in Q1 - 2019.

As cryptocurrencies and blockchain networks continue to expand in use, the importance of masternodes and servicenodes, in general, becomes greater. Masternodes operate differently than regular nodes on a blockchain network; they operate as a subset of nodes that are capable of performing unique functions. Such functions include instant or near-instant transactions, private transactions and others. Operators are required to commit collateral in order to own a masternode, which can be confiscated in cases of dishonesty. Thus, the use of collateral has the dual effect of ensuring honesty through incentive economics and placing a high barrier to entry for node operators.

In the course of its operations, FORK has been evaluating running a data centre for purposes other than mining Bitcoin. Prospective uses include operating servicenodes, in addition to providing computation power for artificial intelligence applications, an opportunity which is still under consideration.

A secondary element of the Company's strategy in operating these nodes is to establish itself as a major player in the operation of reputation based servicenodes like those of Ammbr, Loki and Laser. With a larger stake in operating such nodes, and a developed track record of performance, FORK will be positioned to attract more transactions to its nodes, enabling it to earn more fees - thus making node operation a sustainable and lucrative arm of operations.

"A defining value of FORK, as a business, is investing in infrastructure, as opposed to speculating on assets," said Shidan Gouran, President and CEO of the Company. "Prices of cryptocurrencies can go up and down, and that is not how you deliver value to shareholders. Rather, value is delivered by managing assets that generate a consistent return. We are currently doing that by mining Bitcoin, but we are expanding on that by operating masternodes on promising networks. We have both the capital and the computing resources to position ourselves as an authority in servicenode operations, a part of the blockchain ecosystem's infrastructure that will see more and more demand. FORK has also established a research and development arm for exploring opportunities and new business models presented by the Lightning Network protocol, an emerging technology that can revolutionize blockchain applications, including the efficiency of 3rd generation blockchain protocols (inter-blockchain protocols) like the Laser Network."

In addition to entering the Servicenode business, the Company continues to carry on with its existing business of Bitcoin mining, and has started a new division for providing blockchain development, operations and consulting services to third parties, such as AMMBR and other clients to be announced in Q4 of 2018.

For more information on Laser, please refer to the whitepaper on https://laser.xyz and join the Laser reddit forum at https://www.Reddit.com/r/laserprotocol.

For more information on AMMBR, please refer to the website https://ammbr.com/ which will be updated on November 26th, 2018.

On behalf of the Company:
Shidan Gouran, President and CEO
info@globalblockchain.io

For more information please contact:
Global Blockchain Mining Corp. Investor Relations
ir@globalblockchain.io

About Global Blockchain Mining Corp.

Global Blockchain Mining Corp. is a technology company that is engaged in the business of mining blue-chip cryptocurrencies through the deployment of hardware and associated infrastructure to mine these coins. Investors, through their investment in the Company, are provided with exposure to these cryptocurrencies without the lengthy, and complicated process that interested investors must undergo in order to gain exposure to these cryptocurrencies.

The Company is listed on the Canadian Securities Exchange ("CSE") and its common shares trade under the ticker symbol "FORK". Additional information relating to the Company is available on SEDAR at www.sedar.com, the CSE at www.theCSE.com as well as on the Company's website at: www.forkcse.com

Cautionary Note Regarding Forward-Looking Information

Forward-Looking Information: This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

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