ORO VALLEY, Ariz., Nov. 15, 2017 (GLOBE NEWSWIRE) -- Tautachrome Inc. (OTCQB:TTCM) today announced that on a fixed date certain, to be released soon, it will distribute, pro rata, a substantial quantity of KlickZie cryptocurrency to its common shareholders of record on that date.
Background
In September we announced that the Company was forming a development team of providers to develop a blockchain based cryptocurrency ecosystem with a cryptotoken designated “KLK” that will be the currency of the KlickZie community worldwide, allowing KlickZie users to monetize their pictures and videos and thereby enabling the buying, selling and licensing of KlickZie pictures and videos everywhere. KlickZie Cryptocurrency and Blockchain Development Announcement.
The development team that was formed, consists of individuals from the blockchain development company Kelecorix, Inc., and individuals from the image storage company Honeycomb Digital. The team is developing the software and architecture for the implementation of a simple KlickZie app that while not fully developed, does implement the “ownership” properties of KlickZie imaging, which coupled with the blockchain-based ownership of KLK cryptotokens, can be used to trade and license image ownership.
Two weeks ago, we circulated for public comment a draft whitepaper describing our plans for the crowd sourced sale of the KLK cryptotoken. We have collected comments, and a final whitepaper will be circulated soon making public the finalized details of the KLK ecosystem.
The development team is also preparing a KLK cryptotoken “Yellow Paper” designed for the coding world that will provide the code implementing the KLK ecosystem on a specialized high speed transaction sidechain on the Ethereum blockchain. The sale of the KLK cryptotokens in the crowd sale will be accomplished on the existing Ethereum blockchain, with the KlickZie ecosystem imagery transactions accomplished on the KlickZie sidechain. While the whitepaper provides background and rationale for Tautachrome shareholders, the Yellow Paper will provide technical detail to token enthusiasts.
By creating a new ecosystem among consumers based on what people love most, imagery, we believe that the KLK ecosystem will provide value to KlickZie users as well as to the Company and its shareholders.
Blockchain-based cryptocurrencies can be extremely powerful. One only has to remember the progress of the first blockchain-based currency, bitcoin, from its beginnings to now. Namely, on May 21, 2008 a year after the introduction of the bitcoin cryptocurrency, Laszlo Hanyecz’s 10,000 bitcoins were worth only $25. (He used all 10,000 bitcoins to buy 2 Papa John’s pizzas.) Today the value of Laszlo’s 10,000 bitcoins has skyrocketed above $65 million dollars. (The cost of Laszlo's pizza in today’s dollars)
Distribution of KLK Cryptotokens to TTCM Shareholders
The Company believes that a free distribution of a portion of the KLK cryptotokens to Tautachrome shareholders in advance of the token sale will serve two purposes. First, there are many Tautachrome shareholders who understand the aims and intentions of the Company, have loyally supported the Company for years and are deserving of the reward that a successful cryptocurrency ecosystem could provide. Second, and we think important to the success of a cryptocurrency is a kernel of currency holders who will appreciate the potential of the currency and find ways to use it.
In a public comment today Dr. Jon N Leonard stated, “The power of blockchain technology has come along at a very good time for Tautachrome. Right now, a simple KlickZie app will be capable of capturing ownership of KlickZie imagery. And ready-to-go blockchains will enable the effective monetization of that ownership for the benefit of every smartphone owner. Moreover, cryptocurrency sales have shown their ability to provide the funding that a technology like KlickZie can employ to achieve global human usage, a result that can have enormous financial and social impact.”
Dr. Leonard went on to say, “Tautachrome shareholders will receive KLK tokens on a pro-rata basis. The more common shares a shareholder owns, the more KLK currency the shareholder will receive.”
About Tautachrome
Tautachrome, Inc. (OTCQB:TTCM) is an emerging growth company in the smartphone imagery technology sector. Tautachrome has revolutionary already-issued trusted imagery patent claims, already approved and soon to be issued Talk-to-the-Picture social networking patent claims, and three patents pending containing further Talk-to-the-Picture social networking claims and further trustable imagery claims.
Safe Harbor Statement Statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Risk factors that could cause actual results to differ materially from those projected in forward-looking statements include, but are not limited to, general business conditions, managing growth, and political and other business risks. All forward-looking statements are expressly qualified in their entirety by this paragraph and the risks and other factors detailed in Tautachrome's reports filed with the Securities and Exchange Commission. Tautachrome undertakes no duty to update these forward-looking statements.
Contact: Tautachrome, Inc.
Tel: +1 520 318 5578
Web: www.tautachrome.com
Investor relations: investor@tautachrome.com