Blockchain Foundry and ARCHOS Announce Strategic Partnership; ARCHOS to be Granted 5% of Blockchain Foundry Shares in Exchange for Exclusive Distribution Agreement in Canada and the USA
TORONTO and PARIS, Jan. 03, 2019 (GLOBE NEWSWIRE) — Blockchain Foundry Inc. (“Blockchain Foundry” or “BCF”) (CSE:BCFN) (FWB:8BF) (OTC:BLFDF) and ARCHOS S.A. (“ARCHOS”) (EPA:JXR) are pleased to announce a strategic partnership covering blockchain hardware solutions and related software infrastructure (the “Agreement”). Pursuant to this partnership, BCF will become the exclusive North American distributor of the ARCHOS SAFE-T range of hardware cryptocurrency wallets and blockchain secured solutions.
ARCHOS recently announced the development of the SAFE-T Touch, a ground-breaking innovation in the hardware wallet segment. The SAFE-T Touch offers a highly secure hardware wallet platform, embedding a trusted execution environment incorporating ProvenCore technology from Prove & Run S.A.S., a leading European software security firm. This focus on security, combined with a user-friendly mobile wallet interface, provides SAFE-T Touch users with the best of both worlds; a highly secure environment that is also convenient and easy to use.
In consideration of the Agreement, BCF will grant ARCHOS 3.7 million common shares, representing approximately 5% of the outstanding shares of BCF. In addition, ARCHOS may be entitled to cash or share-based consideration of up to 10% of the gross revenue earned by BCF from ARCHOS products during 2019, based upon milestones including the appointment of BCF as ARCHOS’ preferred partner for blockchain development services. The Agreement and strategic partnership are arm’s length.
“The BCF team has been developing products and services for blockchain since 2012. We are impressed by ARCHOS’ strategy and believe that its developments are setting new standards for hardware wallets, which are key to building a secure blockchain environment. BCF’s dedicated sales and marketing team will be actively targeting North American cryptocurrency asset holders and the cryptocurrency community in order to promote these innovative products and associated services platforms,” stated Dan Wasyluk, CEO of Blockchain Foundry.
“This partnership is a key milestone for ARCHOS in the development of its Blockchain solutions. BCF’s track-record in Blockchain technology is impressive, including the creation of the Syscoin Platform and important B2B blockchain services developments like Blockmarket Desktop 3.0., a decentralized marketplace and cryptocurrency wallet. The team is highly efficient, user centric and motivated. They are recognized in the crypto community and are long term advocates of the benefits of hardware wallets and their vast use cases. Becoming a shareholder of BCF is important as it structures the partnership for the long term,” added Loic Poirier, CEO of ARCHOS.
ARCHOS, a pioneer in consumer electronics, continues to innovate and revolutionize the consumer electronics market. Among others, the French manufacturer was first with an HDD MP3 player in 2000, a multimedia player in 2003, Google Android powered tablets in 2009, a connected Smart Home in 2014 and PicoWAN, the first collaborative network dedicated to the IoT, in 2016. Today, ARCHOS designs and democratizes solutions with high innovation value in three segments: mobile solutions, AI, blockchains. With headquarters in France, offices in Europe and in Asia, ARCHOS is a strong pan-European player. ARCHOS is quoted on Compartment C of Eurolist, Euronext Paris, ISIN Code: FR0000182479.
About Blockchain Foundry
Blockchain Foundry Inc. develops and commercializes blockchain-based business solutions and provides consulting services to corporate clients seeking to incorporate blockchain technology into their businesses.
Press contacts at Blockchain Foundry:
Christopher Marsh – email@example.com – + 1 (647) 330-4572
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