Upco International Inc. (CSE: $UPCO.C) Announces Development of Advanced #Blockchain Payment System
Vancouver, BC - November 27, 2017 (Investorideas.com Newswire) Upco International Inc. (CSE: UPCO) ("UPCO") is pleased to announce plans to expand its current mobile application to include a payment service using advanced blockchain technologies. Currently, its application enables fully secure communications through social media, picture and location sharing, international airtime top-up, international and national calls, and chatting like SKYPE and WhatsApp. With the addition of blockchain payment services, users will be able to: send invoices, approve payments, transfer international funds, convert international currencies, and track transfers and payments. The application will also allow vendors to securely share account information with their clients.
Mr Andrea Pagani, CEO and President of UPCO commented, "The first generation of the digital revolution brought us the Internet of information. The second generation - powered by blockchain technology - is bringing us the Internet of value: a new platform to reshape the world of business and transform the old order of human affairs for the better. Blockchain is the technology that underlies the cryptocurrency Bitcoin. Blockchain allows a vast, global distributed ledger or database running on millions of devices, where not just information but anything of value - money, but also titles, deeds, identities, even votes - can be moved, stored and managed securely and privately."
The development team for this blockchain payment service will be led by Dominic da Assuncao, senior business systems consultant and full-stack software engineer whose background includes: international business, operations and computer systems management, and computer games programming. Since 1991, Dominic has delivered world-class shrink wrap software, as well as customized ERP systems, multi-media applications, and internet enabled auction and medical systems. At present Dominic is engaged in upgrading a major clinical system, operating at a prominent Canadian hospital, using blockchain technology.
Since the late 1990's Dominic has been working with immutable database frameworks that have evolved into blockchain technology, and has developed an experimental self-archiving system to store large amounts of data on non re-writeable storage. The technology has subsequently been adapted to use an ACID compliant relational database to simulate CRUD functionality while permanently keeping all changes to the records.
This technology also includes protocols which securely and automatically distribute data throughout an open network of dissimilar servers optimized for distributed network topography. This effectively avoids the costs of processing transactions in peer-to-peer topography, although such adoption is possible. The design was ported in 2007 for relational databases to serve as the foundation of a shared distributed medical data storage system. Future developments will include channel encryption as well as smart contracts.
About Upco International Inc.
Upco International Inc. is a cloud based mobile service company which provides high-quality voice termination to a market driven by the growing activity in online communications and commerce. UPCO is a licensed Global Telecom Carrier within the international VoIP (voice over IP) wholesale business. Upco has designed a software application for IOS and Android, similar to SKYPE and WHATSAPP, that will enable fully secure communications, and social media, namely connecting users and sharing pictures, locations, international airtime top up, International and national calls and chatting. Please visit www.upcointernational.com for further information.
ON BEHALF OF THE BOARD OF DIRECTORS
Jag Sandhu, Director and Vice President, Corporate Development
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of the content of this news release.
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