Cryptanite to develop a suite of products aimed at enhancing First Nations technological infrastructure.
VANCOUVER, British Columbia (April 04, 2019) — Cryptanite Blockchain Technologies Corp. (“Cryptanite”) (CSE: NITE) (OTCQB: CRBTF) (FRA: 98AA), a blockchain technology company headquartered in Vancouver Canada, is pleased to announce that it has entered into an agreement with One Feather Mobile Technologies Ltd (“OneFeather”), a British Columbia-based technology and consulting service provider focused on First Nations communities, to develop a comprehensive suite of blockchain-based software products including Smart Status Cards, vote management systems, member registrar management systems, digital wallets, and financial management and accounting solutions. This consists of a digital solution for First Nation sovereign identity and status card renewal, a government requirement that often remains incomplete due to the nature of the current renewal process. Cryptanite, is providing a development solution utilizing blockchain technologies to enable more efficient status card renewal and status verification.
Cryptanite will develop and deploy OneFeather’s Smart Status Cards. These cards will bring a number of banking benefits to users. Deriving revenue from monthly client card fees and typical banking transaction fees, this technological innovation addresses a market of more than $500 million.
Additionally, Cryptanite will create OneFeather’s digital wallet, a solution designed to address a number of issues faced by First Nations communities in Canada. Users will be able to register their sovereign identity on the wallet and easily integrate their Smart Status Card. Product features include full support of an inaugural First Nation cryptocurrency and token rewards, along with the ability to verify claims and transactions, issue GST rebate entitlements, and even allow for peer-to-peer transfers with other First Nations.
Furthermore, Cryptanite has been contracted to further develop existing financial management and accounting software for OneFeather. This easy-to-use, cloud-based software is being designed specifically for Canadian First Nations. Featuring Smart Status Card and digital wallet integration, the suite will intend to produce an integrated API compatible with the Canadian Federal Government, allowing for streamlined reporting, auditing, and money transfers.
Lawrence Lewis (“Klah-Lees”), founder of OneFeather, stated, “OneFeather is very excited to be working with Cryptanite. Together we are building and deploying new innovative software leveraging block-chain technologies to be better serve our 120+ First Nation clients across Canada. OneFeather is leading disruption of “Indian Act” governance, reporting and administration through a First Nation vision of modern systems that better represent and respect Aboriginal sovereignty, values and principles. OneFeather’s purpose is ultimately to return resources and wealth presently being drained by antiquated systems and regimes directly back to First Nations and their members. OneFeather is a First Nation technology company, and the only company building these new modern solutions for First Nation in Canada.”
Keith Turner, President of Cryptanite commented, “I am pleased that OneFeather has chosen us to join them on this exciting journey, and I am similarly delighted that because of this unique and innovative partnership, Cryptanite gets to flex its muscles in the arena of enterprise blockchain, one of our core values, products and mission statements. I believe we are one of the very few North American blockchain companies actually delivering and executing on enterprise blockchain. I am also pleased to say that because of work progressing in the back channel for the past several months, we have already delivered the first MVP (Minimum Viable Product) and we are working on the next aspects with OneFeather.”
Since 2015, OneFeather has on-boarded more than 120 First Nations groups that actively participate in electronic voting, vote management and its member registrar suite of service technologies. OneFeather has more than 100,000 First Nations peoples within its database of users and growing month over month. For more info, visit www.onefeather.ca.
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the word “will” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.