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Blockchain Foundry Provides Update on Product Strategy and Roadmap

Nachrichtenquelle: globenewswire
18.05.2021, 14:56  |  182   |   |   

TORONTO, May 18, 2021 (GLOBE NEWSWIRE) -- Blockchain Foundry Inc. (“BCF” or the “Company”) (CSE:BCFN), a leading North American blockchain development firm, is pleased to provide an update on its product strategy and roadmap.

As disclosed in the Company’s press release dated March 3, 2021, BCF is increasing its focus on product development. The Company has been working to define its product strategy and has now laid the foundation for a robust product roadmap which takes advantage of its substantial existing blockchain-related IP.

The Company’s roadmap for the remainder of 2021 includes the development of a proprietary BCF wallet for holding Syscoin digital assets as well as Ethereum-based tokens and Bitcoin. Once this foundational wallet has been developed, the Company will continue to build blockchain-based infrastructure which plugs directly into the wallet, including:

  • Support for storing, creating and transferring non-fungible tokens (NFTs);
  • Token swap between various blockchains within the wallet;
  • Hardware wallet support;
  • Integration with CAD and/or USD stablecoins created by BCF;
  • Cross-chain bridging between Syscoin/Ethereum/Binance Smart Chain; and
  • KYC, transactional rules/whitelists, and other compliance-focused solutions within a BCF-supported token ecosystem.

The Company intends to develop the products outlined in the table below in sequential order. A proprietary BCF wallet is expected by the end of Q3 2021. The timing for product development beyond the initial BCF wallet will depend on product traction at each stage, as well as other product and consulting opportunities that the Company may be presented with.

Product Description Benefit to BCF Monetization
Proprietary Blockchain Foundry Wallet
  • BCF proprietary wallet to interact with Syscoin and Ethereum ecosystems and enable future products
  • Support for creating and managing Syscoin-based NFTs
  • Support for Syscoin tokens, Bitcoin and Ethereum tokens
  • Base infrastructure layer to enable future products
  • Enables easy access to Syscoin ecosystem, including token layer and NFT creation and management
  • Fees for NFT creation
Swap-as-a-Service
  • Low-cost swap between blockchain tokens (Syscoin, Bitcoin, Ethereum, others)
  • Integrated into BCF wallet and available as standalone website plus API for third-party integrations
  • Enhances usefulness of Syscoin ecosystem
  • Fee charged on swaps
Hardware Wallet Support
  • Ability to use BCF wallet with commercially available hardware wallets
  • Add ERC721/1155 support to BCF wallet
  • Increases vitality of BCF wallet and Syscoin ecosystem
  • Provides infrastructure for Syscoin to be supported by custodial services
  • Adds support for Ethereum-based NFTs
  • Increase in BCF wallet adoption drives more opportunities to generate fees on wallet services
CAD and/or USD Stablecoin
  • Syscoin-based CAD and USD-pegged tokens
  • Ability to add custom transactional rulesets to enforce regulatory requirements
  • Native integration into BCF wallet
  • Increased wallet utility
  • Enable hedging into fiat and remittance solutions on Syscoin
  • Enable DeFi use cases around stablecoins
  • Fees on purchase and redemption of stablecoins
  • Potential for transaction fees
Cross Chain Bridge
  • Enables users to easily move between blockchain-based token ecosystems (i.e. Syscoin to Ethereum to Binance Smart Chain)
  • Native integration into BCF wallet
  • Improves vitality of Syscoin ecosystem by leveraging utility of other major blockchains
  • Broadens potential adoption for Syscoin and other BCF products
  • Fee charged on each cross-chain transaction
Notary/
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Blockchain Foundry Provides Update on Product Strategy and Roadmap TORONTO, May 18, 2021 (GLOBE NEWSWIRE) - Blockchain Foundry Inc. (“BCF” or the “Company”) (CSE:BCFN), a leading North American blockchain development firm, is pleased to provide an update on its product strategy and roadmap. As disclosed in …

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