TEL AVIV, ISRAEL / ACCESSWIRE / December 28, 2018 / First Bitcoin Capital Corp (OTC PINK: BITCF) today begins providing an alternative vehicle to own and transfer WEED (COIN: WEED) tokens utilizing the Ethereum eco system. First Bitcoin Capital originally generated WEED [1] (as a commemorative cryptocurrency that may be utilized to solve banking problems in the cannabis sector) on the Bitcoin Blockchain via the Omni protocols. While the Omni smart contract has proven to be a viable vehicle based on the success of Tether (COIN: USDT), the second most actively traded cryptocurrency, having a secondary means to hold, transfer and receive tokenized WeeD[2] presents more flexibility for ownership that opens the doors to additional crypto exchange platforms.
No new WEED coins will be added to the total supply. The total supply on Ethereum mirrors the original supply on Bitcoin Blockchain, however, when an owner elects to convert their Omni tokens to Ethereum tokens 1:1 ratio (minimum 10000 tokens per conversion ) the surrendered tokens will be held in trust, only to be used if/when an ERC20 weed token holder elects to reverse swap their ERC20s to Omni tokens.
The ERC20 weed contract can be read here:
https://etherscan.io/token/0xb2930de1808e7b1c5369ca24df4996c1ad1f3440#readContract
First Bitcoin Capital expects to witness additional WeeD token listings emerge on crypto exchanges, utilizing the ERC20 version in early 2019. We also anticipate adaptation of WeeD as a medium of exchange to solve some of the banking problems vexing the Cannabis industry in 2019. Through our recently launched 420WiFi proximity marketing for cannabis dispensaries business, we plan to begin capitalizing on the loyalty program opportunities presented therein utilizing $Weed coins as a means to gain greater customer satisfaction.
A precedent has successfully been set for allowing a cryptocurrencies to trade on various exchanges under two separate blockchains. MobileGo (COIN: MGO), for example, trades on crypto exchanges throughout the world as both an Ethereum Blockchain ERC20 token and a Waves Blockchain token.
Holders of Omni WEED tokens wishing to convert their holdings to the ERC20 version (WeeD) should email their requests to [email protected] providing the address in which their Omni weed tokens are held together with the ETH wallet address to which they wish their ERC20 WeeD tokens sent.
2018 Year in Review
To our shareholders,
We are extremely proud of the milestones we achieved during the year 2018. Each milestone represents the dedication to the work our team provided throughout each project.
During the year, First Bitcoin Capital Corp:
- Began developing the first blockchain based supply chain management tool for the oil and gas industry called PetroBLOQ.
- The company developed Petroleum Coin (Coin:OIL) as a managed Ethereum smart contract token to be utilized in petroleum industry.
- Advanced the development of www.altcoinmarketcap.com which involves Altcoin (COIN:ALT) tracking thousands of cryptocurrencies and is designed to compete with a popular website, coinmarketcap.com.
- The company allocated 25,000,000 $WEED tokens towards our CANNABLOQ project, an industry based website dedicated to educate those whom may benefit from cannabis therapy.
- The Company completed purchase of PERKSCOIN from www.CannaSOS.com ICO - one of the best known social media cannabis companies.
- The company completed and published audited financial statements for the years ending 2016 and 2017 and began the up-listing process.
- The company redeveloped our main website to make it easier for shareholders to stay updated with company projects and moved it to: www.firstbitcoin.io.
- The company launched 420WIFI, a location-based marketing and analytics platform that provides WiFi as a free digital marketing tool to retain and reward customers at local cannabis doctors and dispensaries nationwide. This opens the door for us to employ some of our loyalty coins, including WEED, as a loyalty incentive., For more information, please visit www.420wifi.com.
- The company signed a Joint Venture Agreement with DigiCrypts Blockchain Solutions inc, which also does business as DIGiMax Global Solutions. The purpose of the Joint Venture is to facilitate the funding of Security Token Offerings (STO's) for clients of both First Bitcoin Capital and DigiCrypts, primarily as consultants providing non-registered advice and, when registered, as a Registered Broker Dealer in the Jurisdiction of the Western United States (west of the Mississippi River), including Alaska and Hawaii.
- The company completed the pilot test for three check cashing kiosks in CA. The company subsequently placed the kiosks in Oklahoma and has begun earning from these kiosks. Please visit our website for the locations of our check cashing machines.
For the path ahead, we will continue our efforts to up-list and to be listed on several international stock exchanges. Our lawyers recently advised us that regulators may require 3 years of audited financials, and since we are so close to the end of 2018 this has delayed the listing process so we now anticipate to achieve exchange listings during the first quarter of 2019. We will continue to aggressively develop our 420 WIFI business as well as our dozens of cryptocurrency projects now in their various stages of development during the coming year 2019.
About First Bitcoin Capital Corp
First Bitcoin Capital Corp (OTC PINK: BITCF) (NASDAQOTH: BITCF) (CRYPTO: BITCF) began developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange - www.CoinQX.com (in Beta) in early 2014. We saw this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies and in developing new types of digital assets. Being the first publicly-traded cryptocurrency and BlockChain-centered Company, we provide our shareholders with diversified exposure to digital cryptocurrencies and BlockChain technologies.
Connect on social media at:
https://www.facebook.com/BITCF/
https://twitter.com/1stBitCapital
https://www.linkedin.com/company/first-bitcoin-capital-corp/
For more information visit: www.firstbitcoin.io
Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com.
Contact us via: [email protected] or visit http://www.firstbitcoin.io
[1] WEED refers to Bitcoin-Blockchain Token
[2] WeeD refers to ERC20 Ethereum Token
SOURCE: First Bitcoin Capital Corp