VANCOUVER, British Columbia, July 11, 2018 (GLOBE NEWSWIRE) -- BLOK Technologies Inc. ("BLOK Tech" or the "Company") (CSE:BLK) (FRANKFURT:2AD) is pleased to announce that its 100% owned subsidiary Greenstream Networks Inc. (“Greenstream”) has been accepted into the Oracle Scaleup Ecosystem, a global acceleration program for start-ups.
Oracle’s global start-up mission is to provide enriching, collaborative partnerships to enable next-generation growth, business development, and to drive cloud-based innovation for start-ups throughout all stages of their development. The program is designed for start-ups and venture capital and private equity portfolio companies to enable hypergrowth and scale.
Access to this program provides Greenstream, and its parent, BLOK Tech, with unprecedented support and validation for its technology development initiatives. Together, leading-edge blockchain developers at Greenstream will have access to Oracle’s vast global resources including Oracle Cloud credits and discounts, migration assistance, mentoring, marketing, and engagement opportunities with Oracle customers and partners.
“We are pleased to have been accepted into the Oracle Scaleup Ecosystem,” said Manu Varghese, Chief Product Officer of Greenstream. “The collaboration through Oracle will provide us the resources, tools and relationships to ramp up our development of the Greenstream platform. We are excited to actively participate in the community and to drive the development of a leading-edge blockchain solution for the Canadian Cannabis industry.”
Oracle Scaleup Ecosystem is the new non-residential, virtual-style program designed for start-ups and venture capital and private equity portfolio companies to enable hypergrowth and scale. Oracle’s Scaleup program is collaborating with leading PE and VC firms and will target high-growth entities across EMEA, JAPAC, and the Americas, as well as a select number of investment groups and strategic partners. Oracle’s Scaleup Ecosystem program offers mentoring, R&D support, marketing/sales enablement, migration assistance, cloud credits and discounts, and access to Oracle’s customer and product ecosystems.
“Greenstream has a unique solution that adds value and provides ongoing innovation in the increasingly important and evolving blockchain space,” said Reggie Bradford, senior vice president, Oracle Startup Ecosystem and Accelerator. “Greenstream is the type of company that fits well into our Oracle Scaleup Ecosystem, and we look forward to a long-term relationship with the company.”
Greenstream intends to capitalize on this relationship by collaborating with Oracle and its account teams on the marketing of the Greenstream platform, a leading-edge supply chain integrity platform built on the Hyperledger technology stack for the effective tracking of value and goods through the legal cannabis industry.
About Oracle
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About Greenstream Networks Inc.
Greenstream is engaged in the development of a blockchain-enabled supply chain integrity platform for the legalized cannabis industry. The federal government has laid out a roadmap to have cannabis legalized nationwide in 2018. With this in mind, Greenstream is in the process of developing a technology architecture to address the supply chain integrity needs for this new regulatory environment, providing the industry the ability to manage from ‘seed to sale’. Greenstream’s platform provides a unified secure solution for licensed cannabis producers, merchants, consumers and government entities helping them transact, track, access, share and authenticate the movements of legal cannabis through all levels of the supply chain.
For additional information on Greenstream and other information, please click on the link to visit the website at Greenstream Networks.
About BLOK Technologies Inc.
BLOK Technologies Inc. is a public company that invests in and develops emerging companies in the blockchain technology sector. The Company’s approach is to provide capital, technology and management expertise to the companies it develops. With core technology being developed for the leading cannabis supply chain integrity network, BLOK Tech continues to grow its business into adjacent industries and emerging technologies. The Company systematically identifies early-stage technologies with potential to disrupt and innovate within their industry and invests the necessary resources to ensure the success of their projects.
For additional information regarding BLOK Technologies and other corporate information, please visit the Company's website at BLOKTECHINC.COM
ON BEHALF OF THE BOARD OF DIRECTORS
“Robert Dawson”
President & CEO
For further information, please contact:
James Hyland, B.Comm.
Vice President Corporate Development, Director
(604) 442-2425
jamie@bloktechinc.com
Statements in this news release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the company can fulfill such forward-looking statements and the company undertakes no obligation to update such statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the company, some of which are beyond the company’s control.