Las Vegas, Nov. 14, 2018 (GLOBE NEWSWIRE) -- Surge Holdings, Inc. (OTCQB:SURG), announced today that its wholly-owned software and technology subsidiary, Surge Blockchain, has completed development of the ERC-20 Surge Utility Token and has made available free tokens to all who sign up at www.surgetoken.com before the December 15 launch.
The Surge Token is an ERC20 compliant blockchain asset that can have value, be stored in a wallet, used for transactions and can be sent and received, like Bitcoin, Litecoin, Ethereum, or any other digital asset.
“The technology we’ve developed is soup to nuts, from the issuance of the reward tokens to requests for redemption to transmitting our ERC-20 token to Ethereum.” Stated Chief Technology Officer, John Mott.
Tokens will be earned through purchases of Surge products and services or through incentivized activities such as automatic paycheck deposits to the SurgePays Debit Card or paying certain SurgePhone Wireless combo specials. Tokens can be redeemed for rewards and or stored in digital wallets.
The difference between Surge Tokens and standalone currencies like Bitcoin and Litecoin is that the Surge Token will piggyback on the Ethereum network, hosted by Ethereum addresses and sent using Ethereum transactions from a smart contract.
Surge Holdings Inc. CEO Brian Cox said “The underlying principle to the Surge business model is to drive revenue by bringing products and services to those who might otherwise not have access to them. This fits perfectly into our overall strategic plan for customer loyalty, enhancing the Surge ecosystem and overall corporate valuation.”
Cox further stated, “By using the Surge Utility Token for loyalty rewards, we will be enabling the 51% of the subprime market to participate in Digital Assets – the future.”
Additionally, the software system has been designed as a white label token/rewards system so that Surge can offer this technology and software to other companies seeking a turnkey solution for ERC-20 tokens.
The Surge Utility Token rewards system is slated to launch December 15, 2018.
Rewards will be redeemed at www.surgerewards.com
ABOUT SURGE HOLDINGS:
Surge Holdings Inc. is a rapidly growing publicly traded company with holdings in subsidiaries that utilize emerging technology to deliver high growth, reoccurring revenue products, and services. The Team at Surge Holdings Inc. intends to become the country’s leading provider of technology products to the unbanked, the under-banked and the overlooked by selling through its SurgePays network of convenient stores and through online digital marketing.
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FORWARD-LOOKING STATEMENTS:
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company’s reports filed with the U.S. Securities and Exchange Commission. The forward-looking information provided herein represents the Company’s estimates as of the date of the press release, and subsequent events and developments may cause the Company’s estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release.