STANFORD, Calif., June 19, 2018 (GLOBE NEWSWIRE) — BLOK Technologies Inc. (“BLOK Tech” or the “Company”) (CSE:BLK) (FRANKFURT:2AD) is pleased to announce that its wholly-owned subsidiary Greenstream Networks Inc. (“Greenstream”) was recently featured by Stanford University as a leading blockchain-enabled cannabis supply chain solution. The article, published by Mike Peña of The Entrepreneurship Center at Stanford Engineering in the Department of Management Science & Engineering on the hot topic: “Will Blockchain Disrupt Banks, Black Markets and Business as Usual?”, included commentary by BLOK Tech CEO Rob Dawson and CTO & Director Joel Yaffe.
The feature article uncovered the challenges and opportunities of the legalized cannabis industry as it tackles the growth of the industry and the need to manage the integrity of the supply chain with new technologies. Peña’s analysis highlighted Canada as a leader in the space and Greenstream as a high potential blockchain solution that is leading the way in providing industry and government a viable path forward.
According to the article, Greenstream is “developing a regulatory-compliance platform that leverages blockchain and will enable real-time oversight of the entire cannabis supply chain – capturing the complete history of transactions in perpetuity on the platform for anyone with permission to see.”
As a consortium network solution Greenstream was touted for its collaborative approach to the industry. According to Peña, “This isn’t about a startup looking to take down an entire industry with the disruptive potential of a new technology. Rather, Greenstream sees blockchain as an ideal way to reduce the black market and ensure the integrity of the supply chain through truth and transparency – and to do so, not by making incumbents in Canada’s existing cannabis supply chain obsolete, but by working alongside them.”
“We’re pleased to have been discovered and featured by leading technology thought leaders at Stanford”, said BLOK Tech CEO Rob Dawson. “As we move to commercialize our technology, the recognition of the leading-edge solution we are building assures our stakeholders that we are progressively moving in the right direction. And because of the vision we have, we’ve been able to attract talent from large financial-services companies who want to be in a start-up environment and want to be on the leading edge of developing new blockchain applications”
“It’s exciting to be on Stanford’s radar and to be showcased in the recent STVP review,” said Joel Yaffe, Chief Technology Officer of Greenstream, “Blok Technologies and Greenstream together are developing 3rd generation blockchain technologies, disrupting overall operations in practically every industry. We strongly believe that as blockchain is introduced to AI, a fundamental shift in data management and intelligent insights will emerge – this is where we are heading and we appreciate Stanford’s recognition!”
About Stanford eCorner
Mike Peña is the communications manager at the Stanford Technology Ventures Program (STVP) and penned the article for the Stanford eCorner. The team at Stanford eCorner believes in the powerful combination of evidence and imagination. Our mission: create content that helps entrepreneurs bring bold ideas to life and supports educators in developing thoughtful innovators.
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.
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.
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.