GLOBAL BLOCKCHAIN TECHNOLOGIES CORP. announces that it has incorporated a Cayman-based subsidiary, named Laser Inc., as part of its recently-announced project, the Laser Network (“Laser”).
Global Blockchain has created a subsidiary which will be carrying out Laser’s crowdsale. Additionally, the Company has added eight new members to its advisory board.
Laser is a service layer model that operates on top of a blockchain network. It provides services that may not be native to a given blockchain, such as near-instant transfers, and anonymous transactions. It also has the capability of interacting with other blockchains that also have this service layer, effectively enabling separate blockchains to seamlessly interact with each other.
The purpose of this subsidiary is to manage the initial servicenode network that underpins Laser’s blockchain network and supports its defining features. The crowdsale will entail an equity sale in the subsidiary Laser Inc
“Laser is the decentralized SWIFT-like solution that blockchain has been waiting for” said Shidan Gouran, President and CEO of the Company. “Since the success of Laser will rely on having a reliable group of servicenode operators, our formation of Laser Inc. both streamlines the investment process, and ensures that financial and informational resources will be available to the benefit of servicenode operators, as well as all users of Laser”.
Photon cryptocurrency (“Photons”) allocated proportionately to equity purchased. A block of 6,300,000 shares will be made available in the crowdsale,
For parties who are interested in operating a servicenode, a minimum of 1,000 shares in Laser Inc. must be purchased. Servicenode operators will each have one vote to accept new members and maintain existing members on Laser.
On completion of the crowdsale, the subsidiary Laser Inc. will become a for-profit consortium with a co-op structure. Its purpose will then be to provide educational and support resources to servicenode operators, and provide funding
The Company’s Chairman Steve Nerayoff added, “This is a thrilling turning point for both Laser and BLOC. Laser’s value to the blockchain space is tremendous — with this step of streamlining the investment and onboarding process for servicenode operators
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Laser Blockchain Agnostic Service Layer for improved speed, anonymity and interoperability