Partnership Formed for Energy Trading on the Ammbr Mesh Network
Ammbr has made a partnership with Illum, a technology firm that is developing a blockchain-based energy trading marketplace that will give homeowners the ability to procure inexpensive energy at off-peak times and resell it into the grid. Illum will operate on Ammbr's wireless mesh network, which will have the combined effects of strengthening Ammbr's network with greater usership, and utilizing Ammbr's proprietary network technologies and router hardware.
Vancouver, British Columbia--(Newsfile Corp. - January 28, 2019) - GLOBAL BLOCKCHAIN MINING CORP. (CSE: FORK) (OTC: GBCHF) ("FORK" or the "Company") is pleased to announce that Ammbr Foundation Pte Ltd. ("Ammbr") has established a partnership with Texas-based Illum Applied Technologies ("Illum") in which the Ammbr mesh network will be used to support an autonomous blockchain-based energy trading marketplace being developed by Illum. Ammbr, which is based out of Singapore, announced its partnership with FORK in October of 2018, in which FORK would oversee some of Ammbr's development processes and administer the crowdsale for AMR, Ammbr's proprietary crypto asset in exchange for an allotment of AMR tokens and a percentage of the crowdsale's proceeds. Information about how Ammbr's wireless mesh network functions can be seen at www.ammbr.com.
Illum's marketplace will enable homeowners who own residential energy storage batteries to engage in energy trading through an automated exchange platform powered by blockchain technology. Battery owners will have the opportunity to charge their batteries when power is cheapest (typically at night), and use the stored power either to reduce load on the grid or sell power back into the grid. Aside from the positive environmental effects leading to more sustainable use of electricity, battery owners on the Illum network will be afforded the benefit of profiting from energy trades, an opportunity that everyday homeowners have never had. The networked group of batteries will also give battery owners access to wholesale energy prices, enabling users to save on energy costs as well.
With Illum operating on Ammbr's wireless mesh network, the network will benefit by having a greater user base between participants using it for Internet access, energy trading, or both. As there are other parallel use cases for decentralized utilities management outside of Internet access and energy, this development foreshadows even greater usership on the Ammbr network.
Illum's CEO Michael Beitler said, "Illum is proud to be bringing the future of the electric grid with our strategic collaboration partner, Ammbr. Our partnership, with the use of Ammbr modular mesh routers, will give Illum the ability to create a cryptographically secure, smart city mesh or fabric over the cities where Illum, through its subsidiary, Virtual Power Plant, LLC, can deploy homeowner-owned, decentralized battery based microgrid electric systems."
Ammbr's CEO Derick Smith commented, "We have long speculated that telecommunication services and electrical power are utilities, that are conceptually distributed in the same way. Therefore, the tools should integrate and provide users with a consistent experience, especially in terms of the economic aspects. The partnership with Illum is giving us the material opportunity to demonstrate that."
FORK President and CEO Shidan Gouran added, "Having observed Ammbr's development from its initial concept to where it is now, it's amazing to see what use cases there are for a wireless mesh network. It is exciting to think about what the world will be like with Ammbr's network being able to bring Internet access to all corners of the world, but it is even more exciting to think about what impact it will have for utilities such as electricity to be distributed in a similar way."
The crowdsale for AMR on the Singularity Exchange is now entering its third week, with participation levels continuing to increase. Supported currencies have recently been expanded to all currencies listed below. Additionally, fiat currencies are supported for the AMR crowdsale by way of wire transfer. More information about the AMR crowdsale can be found here: https://singularity.exchange/crowdsale
Supported Currencies: Bitcoin (BTC), Dash (DASH), Ethereum (ETH), Ethereum Classic (ETC), Loki (LOKI), Monero (XMR), Steem (STEEM), Stellar Lumens (XLM), USD Coin (USDC)
On behalf of the Company:
Shidan Gouran, President and CEO
For more information please contact:
Global Blockchain Mining Corp. Investor Relations
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 onthe 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
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