VANCOUVER, British Columbia and LONDON, May 11, 2018 (GLOBE NEWSWIRE) -- BTL GROUP LTD. (TSX Venture:BTL) (“BTL” or the “Company”) is pleased to announce that it will be demonstrating its Interbit platform in public for the first time, next week, at the Consensus blockchain conference in New York. BTL’s booth is number 133 and its exhibit will allow developers to interact with the platform and build applications on Interbit blockchains. Furthermore, the first third party blockchain application built on Interbit will also be unveiled at Consensus.
Interbit is the Company’s token free, next generation blockchain platform, that was made available on April 23, 2018 for testing and feedback (Interbit can be accessed and downloaded from the link https://interbit.io/). The platform provides a more secure environment for computing, ensures privacy of data, and via its unique “chain joining” capability, multiple blockchains can be used to build applications that are faster, scalable, and more resilient.
TruckLovely is the third party Interbit blockchain based application that will be unveiled at Consensus. It is a truck routing application that streamlines logistics for companies and will benefit from the inherent uptime that Interbit provides, meaning companies using the application will not suffer from intermittent connectivity issues. Commercialisation of the TruckLovely application is expected later in 2018 when it will be available to purchase via BTL’s Interbit store.
“Blockchain is most commonly associated with cryptocurrency, but it has so many more potential real-world applications,” says Tom Thompson, Chief Technology Officer of BTL. “The TruckLovely app running on our Interbit platform brings blockchain out of the virtual world and uses it to deliver tangible goods and services to bricks and mortar businesses.”
BTL is also a sponsor at the Consensus Building Blocks Hackathon, being held at New York’s Microsoft Tech Centre, where circa 250 developers will be competing to win prize money for developing the best blockchain application. BTL is challenging developers to build a social media application with the functionality to delete data and is offering a reward of $5,001 to the winner.
Consensus is expected to attract 4,500 developers and business leaders from around the world.
ABOUT BTL™ AND INTERBIT™
Listed on the TSX Venture Exchange (TSX Venture:BTL) and operating from both Canada and the UK with offices in Vancouver, Calgary and London, BTL is a technology platform provider that owns Interbit, a next generation blockchain platform which enables business applications to be built quickly, easily and securely.
Interbit can be licensed by developers and businesses who can build and share their own applications in a trusted ecosystem, allowing them to embrace new revenue generating opportunities. Interbit meets the speed, scale and privacy that older generations of blockchain technology cannot achieve by using chain joining technology to connect multiple blockchains. It offers a simpler, more secure, new way of computing.
For further information please contact:
Dominic McCann, CEO
Phone: +1 855 256 5246
Certain statements in this release are forward-looking statements, which include further development of BTL’s business relationships and business and the timing, development and success of BTL’s technologies, BTL’s products, products built on BTL’s technologies, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, the development of competitive technologies, the marketplace acceptance of BTL’s technologies and products, as well as those risk factors discussed or referred to in BTL's annual Management's Discussion and Analysis for the year ended December 31, 2017 available at www.sedar.com, many of which are beyond the control of BTL. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, BTL disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, BTL undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release