Collaboration will facilitate the development of a cryptographic payments protocol
Rockville, Maryland — November 13, 2017 — Hughes Systique Corp., a high-tech software research and development company, has today announced that it has signed a non-binding memorandum of understanding with Global Blockchain Technologies Corp., a company that provides investors with access to a basket of holdings within the blockchain space. The partnership between these companies will enable the creation of the Laser Payments Protocol, a “Layer Two” Blockchain payments protocol that is suited to the volumes typical of the Internet of Things, energy, and telecommunications industries.
Arjun Roychowdhury, Vice President at Hughes Systique, said: “Blockchains are an important part of verifiable & traceable trust in an increasingly de-centralized world of interconnected devices. While the last few years have been about connecting and cloud enabling smart devices, the next wave is going to be all about trusting and securing the data the infrastructure holds and we think Blockhains are going to lead that era. We are very excited to work with Global Blockchain Technologies to co-create an conceptualize a robust low bandwidth payment protocol leveraging this technology stack.”
Global Blockchain Technologies Corp. President Shidan Gouran said: “We are delighted by the opportunity to work with Hughes Systique, a leader in its field and member of the EchoStar group of companies, bringing blockchain to the Internet of Things. We believe that this collaboration will allow for the creation of a protocol that goes beyond current payments rails to provide substantial benefits to a variety of industries.”
Hughes Systique, part of the EchoStar group of companies is a technology R&D company with a key focus on delivering solutions around IoT, Wireless, Multimedia, Machine Learning, Connected Car and Customer Experience solutions. Other information related to the company can be found at our website or via email at [email protected]
Global Blockchain Technologies Corp. is an investment company providing investors access to a basket of holdings within the blockchain space, managed by a team of industry pioneers and early adopters of all major cryptocurrencies. GBTC is focused on streamlining the current arduous, lengthy and complicated process that interested investors need to undergo in order to gain exposure to the cryptocurrency space with a view to becoming the first vertically integrated originator and manager of top-tier blockchains and digital currencies. GBTC is listed on the TSX Venture Exchange and its common shares trade under the ticker symbol “BLOC.” Other information relating to GBTC is available on SEDAR at www.sedar.com, as well as on the company website at www.globalblockchain.io.