Tickers: PINX:PNXPF, XTSX:PXI
Tags: Mining
Vancouver, British Columbia / TheNewswire / May 14, 2018 - Planet Ventures Inc. (the "Company" or "Planet") (TSX.V: PXI; FSE: P6U) is pleased to announce that one of its strategic investment holdings, Kowala, has provided an exciting corporate update to its investors.
Kowala's update discusses numerous promising developments as well as the company's priorities moving forward spanning various aspects of their business. These include discussions to finalize deals with exchanges like Cointiger who've agreed to list kUSD as well as with investors who have agreed to purchase large amounts of tokens.
Additionally, the company has announced their focus on moving their marketing activities as the "core to our work." The company has appointed Craig Bromberg as their Chief Marketing Officer and has established a new New York headquarters. The company has also hired AmaZix as its community manager for crypto channels, a growth marketer and community liaison, and has began working to put together an academic council.
On the product development front, Kowala has also progressed tremendously well across three main tracks: mining client and protocols, testing and tooling, and wallet app development.
In the investor update, Kowala's CEO commented, "Our big Spring sprint brought to life a viable and secure strategy for getting the market price of any kCoin into the blockchain via an oracle system to calculate rewards and stability fees. We've also created an effective end-to-end testing harness, unique to the Ethereum ecosystem, which allows us to verify that features are working, test ideas, and gather metrics -- before launching new updates. We are also currently integrating the web wallet into our testnet. To share the public aspects of our technology development, we're also about to publish a new version of our whitepaper."
Planet Ventures' Chief Financial Officer, Mrs. Kropivnitski, commented "We believe Kowala's cryptocurrency product has the potential to set a new standard in this industry; however, concerted marketing efforts will be key in effective introduction of this cryptocurrency in this market. We as early investors are excited to see that this is now a key focus for Kowala and look forward to continuing to support their progress going forward."
Planet announced on March 14th 2018 that they purchased kUSD worth a total of $50,000 (U.S.) in a private token offering by Kowala.
About Kowala
Kowala's cryptocurrency, kUSD, is the world's first autonomously stabilized cryptocurrecncy with aims to be the fastest and the most efficient blockchain technology currently available.
The Kowala Protocol defines a method for constructing a family of distributed, self-regulating, asset-tracking cryptocurrencies called kCoins. Each kCoin is designed to be traded on open exchanges and to maintain a close to "one-to-one" value relative to any widely traded asset such as a currency (USD, EUR, JPY, etc.) or other asset.
kCoins constantly gather market information from endorsed sources and regulate their value through three core mechanisms: 1) variable block rewards, 2) variable fees, and 3) an active and well-informed trading market. In time, these three mechanisms are expected to return each kCoin to parity with its underlying, tracked asset.
For more information, please, visit the website at: https://kowala.tech
About Planet Ventures Inc.
Planet Ventures Inc. is positioning itself to be a leading investment issuer in Blockchain technologies and cryptocurrencies, providing investors exposure to a wide-range of investments in the crypto/blockchain markets. Planet invests in ICO's (Initial Coin Offerings) and its management is focused solely on creating shareholder value by exposing its investors to multiple opportunities in the crypto/blockchain market. The Company's initiative is to empower entrepreneurs developing disruptive technologies in the blockchain space and provide them with the necessary capital and expertise to assist them in revolutionizing the industry. The company will retain its current investment portfolio and will continue to assess new opportunities for investment inside the cryptocurrency/blockchain space.
For more information, please visit our website: planetventuresinc.com
ON BEHALF OF THE BOARD
"Zula Kropivnitski"
_________________________
Zula Kropivnitski
Chief Financial Officer and Director
INVESTOR RELATIONS CONTACT
PLANET VENTURES INC.
Tel: (604) 681-0084
Fax: (604) 681-0094
Email: info@planetventuresinc.com
Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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