Blockchain Foundry Announces Phase 2 Blockchain Development Agreement with GDPR Compliance Solution Provider
TORONTO, Dec. 21, 2020 (GLOBE NEWSWIRE) — Blockchain Foundry Inc. (“BCF” or the “Company”) (CSE:BCFN), a leading North American blockchain development firm, has entered into the second phase of a blockchain development agreement (the “Agreement”) with a client (the “Client”) in the General Data Protection Regulation (“GDPR”) compliance space. This phase of the Agreement is valued at approximately $60,000 and will last for approximately seven weeks. The prior, initial phase of the Agreement was valued at approximately $50,000 and has now been completed. For more information on the initial engagement please refer to the Company’s press release dated October 5, 2020.
GDPR is a regulation in EU law concerning data protection and privacy. The market for GDPR compliance services in Europe is estimated to be worth approximately US$1.2 billion by 20231.Pursuant to the Agreement, BCF will work with the Client to complete the MVP of its GDPR compliance solution. The Client expects to undertake more product development beyond the MVP phase and BCF will have the opportunity to establish itself as the preferred vendor for future development initiatives.About Blockchain Foundry Inc. Blockchain Foundry develops and commercializes blockchain-based business solutions and provides consulting services to corporate clients seeking to incorporate blockchain technology into their businesses.Blockchain Foundry Contact Information:Chris Marsh
(647) 330-4572Forward-Looking InformationCertain portions of this press release contain “forward-looking information” within the meaning of applicable Canadian securities legislation, which is also referred to as “forward-looking statements”, which may not be based on historical fact. Wherever possible, words such as “will”, “plans,” “expects,” “targets,” “continues”, “estimates,” “scheduled,” “anticipates,” “believes,” “intends,” “may,” “could,” “would” or might, and the negative of such expressions or statements that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved, have been used to identify forward-looking information.Forward-looking statements should not be read as guarantees of future events, future performance or results, and will not necessarily be accurate indicators of the times at, or by which, such events, performance or results will be achieved, if achieved at all. Readers should not place undue reliance on such forward-looking statements, as they reflect management’s current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by BCF are inherently subject to significant business, economic, regulatory, competitive, political and social uncertainties, and contingencies. Many factors could cause BCF’s actual results, performance or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking statements.______________________________1 https://www.statista.com/statistics/1005111/estimated-value-of-gdpr-services-market-in-europe/