VANCOUVER, British Columbia, Aug. 08, 2018 (GLOBE NEWSWIRE) — BLOK Technologies Inc. (“BLOK Tech” or the “Company”) (CSE: BLK) (OTC: BLPFF) (FRANKFURT: 2AD) is pleased to announce that its 100% owned subsidiary Greenstream Networks Inc. (“Greenstream”) has successfully completed a deployment of its blockchain network and applications to the Oracle Cloud Infrastructure (“Oracle Cloud”), as part of the previously announced strategic relationship with Oracle on July 11, 2018.
The deployment has been fully tested and optimized by the Greenstream technical team and the platform, including a demo environment, are running smoothly and at a speed that is scalable. This represents a key milestone in the platform’s development in that it is operating in multiple environments, including the world-class infrastructure provided by Oracle. It provides a proof-point for the technical excellence of the system and assurance to the Cannabis Industry that the Greenstream Network is enterprise-ready. It is further proof that Greenstream is a key step closer to having an enterprise-grade platform for integration with major customers through the Oracle Scaleup Ecosystem.
The Oracle Scaleup Ecosystem provides access to a wide variety of service offerings including network storage, networking and database management systems, and load balancing. All the diverse Oracle Cloud offerings run on a highly-optimized software-defined network tuned to maximize performance, and their management user interface is intuitive and simple to optimize, resulting in Greenstream getting quickly up and running with new processes and applications. This resulted in reduced latency between nodes in initial tests of the Greenstream blockchain network and has demonstrated an increase in transaction throughput, which means the Greenstream platform will be fully scalable as its distribution grows.
As a member of the Oracle Scaleup Ecosystem, Greenstream is being provided technical and business development support for the deployment of its platform.
“We are pleased to have completed the movement onto the Oracle Cloud Infrastructure,” said Jim Anastassiou, Blockchain Architect & VP of Engineering: “There are many choices when going to the cloud, but there’s nothing that is as fast as what we’ve seen with the Oracle Cloud. They’ve further upped the ante for cloud compute performance by offering high-performance, top-spec infrastructure. Speed is paramount for blockchain technology and so far performance has been through the roof compared to deployments on other cloud providers. We’re excited to have a strategic relationship with Oracle and believe it will provide great opportunities for Greenstream and our customers as we move forward.”
“Greenstream has a unique solution that adds value and provides ongoing innovation in the increasingly important and evolving blockchain space,” said Reggie Bradford, senior vice president, Oracle Startup Ecosystem and Accelerator. “Greenstream is the type of company that fits well into our Oracle Scaleup Ecosystem, and we look forward to a long-term relationship with the company.”
Greenstream intends to capitalize on this relationship by collaborating with Oracle and its account teams on the marketing of the Greenstream platform, a leading-edge supply chain integrity platform built on the Hyperledger technology stack for the effective tracking of value and goods through the legal cannabis industry.
About Oracle Scaleup Ecosystem
Oracle Scaleup Ecosystem is the new non-residential, virtual-style program designed for start-ups and venture capital and private equity portfolio companies to enable hypergrowth and scale. Oracle’s Scaleup program is collaborating with leading PE and VC firms and will target high-growth entities across EMEA, JAPAC, and the Americas, as well as a select number of investment groups and strategic partners. The program offers mentoring, R&D support, marketing/sales enablement, migration assistance, cloud credits and discounts, and access to Oracle’s customer and product ecosystems. For additional information, please click on the link to visit the website at Oracle Scaleup Ecosystem.
About Greenstream Networks Inc.
Greenstream is engaged in the development of a blockchain-enabled supply chain integrity platform for the legalized cannabis industry. The federal government has laid out a roadmap to have cannabis legalized nationwide in 2018. With this in mind, Greenstream is in the process of developing a technology architecture to address the supply chain integrity needs for this new regulatory environment, providing the industry the ability to manage from ‘seed to sale’. Greenstream’s platform provides a unified secure solution for licensed cannabis producers, merchants, consumers and government entities helping them transact, track, access, share and authenticate the movements of legal cannabis through all levels of the supply chain.
For additional information on Greenstream and other information, please click on the link to visit the website at Greenstream Technology.
About BLOK Technologies Inc.
BLOK Technologies Inc. is a public company that invests in and develops emerging companies in the blockchain technology sector. The Company’s approach is to provide capital, technology and management expertise to the companies it develops. With core technology being developed for the leading cannabis supply chain integrity network, BLOK Tech continues to grow its business into adjacent industries and emerging technologies. The Company systematically identifies early-stage technologies with potential to disrupt and innovate within their industry and invests the necessary resources to ensure the success of their projects.
Grant of Options
The Company announces it granted to its directors, officers, employees and consultants stock options to acquire the aggregate of 3,750,000 common shares of the Company (“Common Shares”). All options granted have the exercise price of CAD $0.10 for a term of twelve (12) months.
For additional information regarding BLOK Tech technologies and other corporate information, please visit the Company’s website at BLOKTECHINC.COM
ON BEHALF OF THE BOARD OF DIRECTORS
President & CEO
For further information, please contact:
James Hyland, B.Comm.
Vice President Corporate Development, Director
Statements in this news release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the company can fulfill such forward-looking statements and the company undertakes no obligation to update such statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the company, some of which are beyond the company’s control.