VANCOUVER, May 28, 2020 /CNW/ – TAAL Distributed Information Technologies Inc. (CSE:TAAL | FWB:9SQ) (“TAAL” or the “Company“) has published the Company’s 5 Year Corporate Vision presentation. This has been published on the Company’s corporate website and can be viewed here: https://www.taal.com/files/TAAL-CorporateVisionDeck.pdf.
The presentation starts with an introduction from the new CEO, Jerry Chan, “The blockchain industry is evolving. The future will look radically different from what it is today. TAAL intends to be a leader in the new era of the industry and its emerging opportunities for capitalization. We are taking a long term view on the potential of blockchain technology, and have a plan for the future. I’d like to share a bit of this vision with you.”
The industry is about to undergo significant change, and we expect to see a transition away from a block rewards subsidy model to a transaction fee-based model, which will be a major issue for any miner who hasn’t already modified their business strategy. Gone are the days when a mining or node operator passively runs the software and collects subsidy to support their business; It’s now focused on how to compete in this new paradigm, and only industry players who see the true use of this technology will survive and flourish by deploying enterprise-level solutions that monetize high volume transaction on the blockchain.
Value must now be delivered on utility, not speculation because in four years we will encounter yet another scheduled Halving Event, where the block subsidy reduces even lower to 3.125 coins per block. For the bitcoin industry to survive, mining operators must transition into transaction processors that provide solutions which propel the adoption of businesses building applications and contributing data, in the forms of transactions, onto a public, permission-less and scalable blockchain.
TAAL has been improving its block processing infrastructure and streamlining systems in preparation for scaling of operation and a strategic vision that include several pillars:
- Transaction processing, using M/API, bulk volume contracts, dynamic rates and client tiering;
- Managed services for blockchain computer hosting, hash contracts and “TAALPool”, a public blockchain computing pool;
- Services and pilot projects stemming from the filed patent application related to the customized blockchain computing device;
- Blockchain cloud services; and
- Internet of Things (“IoT”) agents and services.
About TAAL Distributed Information Technologies Inc.
TAAL Distributed Information Technologies Inc. (CSE:TAAL) delivers value-added blockchain services, providing professional-grade, highly scalable blockchain infrastructure and transactional platforms to support businesses building solutions and applications upon the Bitcoin SV platform, and developing, operating, and managing distributed computing systems for enterprise users.
The CSE accepts no responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes “forward-looking information” as defined under applicable Canadian securities legislation. Forward‐looking information and statements include, but are not limited to, disclosure regarding possible events, that are based on assumptions about future economic conditions and courses of action, statements with respect to the anticipated benefits, if any, effects, performance, capabilities or importance to TAAL or otherwise of, including with respect to the effects on, and of the capabilities of, the Bitcoin SV blockchain and the blockchain industry, statements with respect to TAAL’s 5-year technology roadmap (including TAAL’s ability to scale operations), the anticipated benefits to TAAL, if any, of the Device (including the pillars thereof) and of the beta implementation of M/API (including its effect on the Bitcoin SV development ecosystem or otherwise), statements with respect to TAAL’s block processing infrastructure and systems and statements with respect to TAAL’s intentions with respect to the “Miner ID” signature and, in certain cases, can be identified by the use of words such as “expects”, or variations of such words and phrases or statements that certain actions, events or results “may” or “will”, or the negative forms of any of these words and other similar expressions. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, future demand for Bitcoin SV and other digital assets and risks related to information processing using those platforms, integration issues, personnel and staffing requirements and technological change and obsolescence. Actual results and future events and actions could differ materially from those anticipated in such forward looking information. Accordingly, readers should not place undue reliance on forward looking information. All forward looking information in this news release is made as of the date hereof and qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. TAAL disclaims any intention or obligation to update or revise such forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE Taal Distributed Information Technologies Inc.
For further information: Matt Whitcomb, Investor Relations, Telephone: +1 800-371-2809; Or Jerry Chan, CEO, [email protected]