SponsorsOne (CSE: SPO) Corporate Update on the Development of its Digital Currency - xCredit
Waterloo, Ontario - December 19, 2017 (Investorideas.com Newswire) SponsorsOne Inc. (CSE: SPO) (Frankfurt: 5SO) (the "Company"), has developed the SponsorsCloudTM platform to support the world's first scalable digital currency for social networks called the xCredit. xCredit support smart contracts between Brands, Consumers and Influencers to automatically determine compensation for authentic social engagement.
"For the first time, Brands can build their own proprietary communities around their products and compensate the consumer for authentic word-of-mouth marketing," stated Myles Bartholomew, Founder and CEO of SponsorsOne. "Each time an xCredit is issued, the smart contract automatically determines the compensation. As the community builds around the Brand the intelligence generated from digital contract execution allows the Brands to optimize their return on marketing."
xCredit is a digital currency governed by smart contract technology that has tokenized sponsorship between Brands and Consumers. As the consumer advances through the sponsorship levels, as defined by the smart contract, their discount and compensation increase. Smart contracts, which are dynamically customized by the Brands after they are issued will tune the engagement until the Brands ultimate ROI is achieved and their optimal community is built. Smart contracts become intelligent by rewriting themselves to optimize Brand performance.
The SponsorsCloudTM platform has been developed and "stress" tested to support millions of users conducting millions of transactions per minute, utilizing minimal server resources and electrical power. xCredit uses an encrypted and optimized centralized transaction server connected to distributed digital wallets to settle currency transactions in microseconds with minimal computing resource. SponsorsCloudTM uses a patent pending process that can scale to hundreds of millions of users conducting transactions with a trusted centralized and secure server at minimal cost, reducing SPO's operating costs needed for computing resources.
Overall, SponsorOne's xCredit digital currency and smart contract architecture provides a low cost digital currency solution for Brands to connect and engage with their Customers delivered with minimal computing costs.
Currently, the Company is getting ready to launch within the fashion, beauty, specialty food, film production and eGaming sectors supporting creative and innovative Brands and Influencers. SponsorsCloudTM is near completion and will be launched in early 2018.
SponsorsOne is positioned as a leader in the next evolution of social digital marketing with the SponsorsCloudTM platform and its highly scalable digital - smart contract based currency called xCredit. Combined, this allows Brands to build and manage their own proprietary and highly engaged digital ad networks within the social realm. The SponsorsCloudTM platform allows for data driven marketing campaigns that will change the way brands connect to their customers and compensate the consumer for authentic engagement using the xCredit digital currency. SponsorsCloudTM is a tool for brands to inspire real movements around their products and services in which their most valuable customers become their best salespeople, producing far greater ROI than current social media advertising methods.
SponsorsOne is the creator of a proprietary Social Sponsorship Digital Currency that gives consumers real compensation for their authentic social media engagement (blogs, videos, tweets, pins and posts) along with a Social Marketplace to exchange their social currency for products and services with the brands they love. SponsorsCloud will operate the currency exchange and the settlement for each currency transaction surrounding the xCredit.
ON BEHALF OF THE BOARD
Gary Bartholomew, Executive Chairman
The Canadian Securities Exchange ("CSE") has neither approved nor disapproved the contents of this Press Release.
This news release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this news release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology, are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: risks associated with marketing and sale of securities; the need for additional financing requirements and access to capital, reliance on key personnel; the potential for conflicts of interest among certain officers or directors with certain other projects; the volatility of the volume and price of the Common Shares, the failure of the business strategy, the integrity of the Company's patents and proprietary intellectual property and competition. The Company cautions that the foregoing list of risk factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events, including the risk factors set out in the Company's Listing Statement. The Company has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to above will not cause such forward-looking statements and information to differ materially from actual results or events.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE SECURITIES LEGISLATION.
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