San Jose - November 16, 2017 (Investorideas.com newswire) Craig Sproule, a veteran developer, and the Metavine Lab responsible for the highly sophisticated Metavine Genesis™ product, have today unveiled a prototype for the next evolution of blockchain and the creation of fully decentralized applications called Crowd Machine.
Designed to marry the current fragmented components of the blockchain ecosystem currently holding back the mainstream growth of truly decentralised applications, Crowd Machine has packaged the critical pieces of the decentralized app development stack; scalable computation, file storage, external data, monetization, and payments bringing to market the world's first system to build decentralised apps of the future.
Crowd Machine is further enhanced by the fact that apps can be built on top of any blockchain; Bitcoin, Ethereum, Ripple and more, and is supported by a zero-code environment where virtually anyone can build an app.
"The growth of the production blockchain ecosystem is slow because traditional development approaches don't enable applications to be built at a pace that meets market demand," said Craig Sproule, CEO of Crowd Machine.
"The ICO market is awash with white papers promising applications to be delivered in unachievable timeframes. Crowd Machine delivers the technology to allow those promises to be met," continued Sproule.
Three essential components form Crowd Machine:
Fred Ehrsam, ex-Coinbase co-founder, who examined the state of the decentralized application development stack and whether all the parts of the stack were currently available to create a fully decentralized app in this Medium blog - said "when the answer to that question is "yes!", the ecosystem can rapidly create decentralized applications and experience explosive mainstream growth."
Crowd Machine is the first and only full stack available to integrate with existing smart contracts and extend the functionality of those contracts, both on-chain and off-chain to deliver superior robustness.
The Crowd AppStudio has been in the works for a number of years, and battle tested by Fortune 500 companies; General Electric, AON Hewitt, KONE, Anthem and Pacific Western Bank as examples. What used to cost several hundreds of thousands of dollars to use, will now be open to developers and non-developers alike for free, making code a thing of the past and a serious competitor to building dApps on Solidity. There is a short video that is available here.
To prove the value proposition, Crowd Machine is accepting proposals from the public to build out their ICO decentralized app for free. Submissions can be submitted through the website: https://www.crowdmachine.com
Metavine delivers an innovative approach to the application lifecycle that enables companies to achieve cloud first digital agility. Metavine is trusted by the largest companies in the world. For more information, please visit: www.metavine.com
About Crowd Machine
Crowd Machine is revolutionizing the blockchain and decentralized applications sector with technology from Metavine Lab. Coming out of stealth in November 2017, the project involves three core components. The Crowd App Studio (Previously "Metavine's Genesis) offers the most comprehensive high productivity platform as a service available today, including complete application lifecycle management functionality. Crowd Share is a GitHub-like repository where app creators can post components of their apps; where creators are paid if their source code is used. Crowd Computer, a decentralized cloud computer planned for release in Q3 2018; this will be used to run the decentralized apps built in Crowd App Studio. For more information, please visit: www.crowdmachine.com
Proposed Listing of Warrants
The Company further announces it is taking steps to seek to list for trading on the TSX Venture Exchange (the "Exchange") the Warrants issued pursuant to the Offering (the "Listing"). The Company anticipates that the Listing will be effective on or after March 15, 2018 when the hold period expires. In preparation for the Listing, the Company has entered into a warrant indenture with Computershare Trust Company of Canada, as warrant agent.
Sweden Data Centre
On October 23, 2017 and October 25, 2017, HIVE entered into legally binding letter agreements with its largest shareholder Genesis under which the Company will finance the construction of the first and second phases of digital currency mining rigs at a data centre in Sweden (the "Sweden Data Centre"). Please refer to the Company's October 23, 2017 and October 25, 2017 news releases for more details.
The Sweden Data Centre will consist of newly constructed GPU mining rigs using the latest hardware, custom-designed by Genesis. Each phase is expected to represent approximately 6.8 MW of electricity consumption for a total of 13.6 MW in Sweden. HIVE and Genesis are evaluating expansion potential in Sweden as well as Iceland. In Iceland, HIVE's current operating facilities represent 3.8 MW in electricity consumption. Completion of the Sweden Data Centre is subject to a number of conditions, including but not limited to, Exchange approval.
About HIVE Blockchain Technologies Ltd.
HIVE Blockchain Technologies Ltd. is a growth oriented, TSX.V-listed company building a bridge from the blockchain sector to traditional capital markets. HIVE is strategically partnered with Genesis Mining Ltd. to build the next generation of blockchain infrastructure. HIVE owns state-of-the-art GPU-based digital currency mining facilities in Iceland, which produce mined digital currency like Ethereum around the clock.
For more information and to register to HIVE's mailing list, please visit www.HIVEblockchain.com, which has recently been updated. Follow @HIVEblockchain on Twitter and subscribe to HIVE's YouTube channel.
On Behalf Of HIVE Blockchain Technologies Ltd.
President, CEO and Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about construction and acquisition of the Sweden Data Centre; the expected electrical consumption at the Sweden Data Centre; the possible listing of the Warrants on the Exchange; the business goals and objectives of the Company, and other forward-looking information includes but is not limited to information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the construction, acquisition and operation of the Sweden Data Centre; the ongoing partnership with Genesis; the quantum of electrical consumption at the Sweden Data Centre may not materialize as currently anticipated; the digital currency market; the Company's ability to successfully mine digital currency; and other related risks as more fully set out in the Filing Statement of the Company dated September 13, 2017.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's ability to complete the construction and acquisition of the Sweden Data Centre; the listing of the Warrants; the Company's ongoing partnership with Genesis; historical prices of digital currencies and the ability of the Company to mine digital currencies will be consistent with historical prices; and there will be no regulation or law that will prevent the Company from operating its business. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.
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