NEWPORT BEACH, Calif, Jan. 09, 2018 (GLOBE NEWSWIRE) -- Vemanti Group, Inc. (OTC PINK:VMNT), a technology-driven holding company, today announced that it has acquired the intellectual property (IP) assets of SmartChain Pte. Ltd. (“SmartChain”) of Singapore (www.smartchainlabs.com), a well-established blockchain R&D company.
SmartChain offers consulting, development, security assessment, and training services in blockchain and smart contract projects. Its team consists of the best experts in blockchain industry who have been leading and contributing to real-world projects. They have found and reported real exploits in blockchain protocol and smart contracts.
SmartChain has completed key projects such as:
- SmartPool: Decentralized Mining Pools for Cryptocurrencies Using Smart Contracts
- Oyente: An Analysis Tool for Smart Contracts
- DataCons: A secured platform sharing data securely between mutually-untrusted parties using blockchains
- TimeStamp Service: Using blockchains to securely timpstamp data, documents.
"We are pleased to add this blockchain asset to our portfolio to further solidify our commitment to the industry. It’s hard enough today just to find blockchain-capable engineers, let alone industry-leading ones. With such an experienced engineering team on our side, we’ll no doubt be able to attract good deal flow and take on any project," stated Tan Tran, CEO of Vemanti Group.
SmartChain’s core team will stay on as part of the acquisition, with the globally respected blockchain scientist Dr. Loi Luu who holds a PhD in Computer Science from the prestigious National University of Singapore (NUS) as the Company’s new Chief Scientist. Also, as part of the deal, the Company will inherit a proven token-generation code that was used successfully in the ICO launch of the KNC coin (www.kyber.network) which has a market capitalization of over $670M USD at press time and ranked 62nd in the world among the top 100 cryptocurrencies according to CoinMarketCap (https://coinmarketcap.com/currencies/kyber-network/).
"We’re very excited to start the New Year with such a notable achievement. This is our first blockchain-related acquisition in 2018, but certainly not going to be the last. We’ll continue with our acquisition efforts to seek asset growth while creating a powerful portfolio of companies with innovative intellectual properties where blockchain technology deems necessary and exigent," added Mr. Tran.
Besides continuing its leadership role on blockchain-based developments, the Company plans to utilize the newly acquired resources to further incubate and innovate proprietary technologies for the FinTech (financial technology) sector, instigating decentralized P2P ecosystems. Details of the transaction will be included the Company’s filings.
About Vemanti Group, Inc.
Vemanti Group, Inc. (OTC PINK:VMNT) is a Nevada corporation headquartered in Newport Beach, California. We are a technology-driven holding company that seeks to be active in high-growth and emerging markets. Our core strengths are in technology development and investment. We plan to grow through acquisition and investment in disruptive and foundational technologies by targeting early-stage businesses that have market viable products or by starting a new subsidiary of our own. Strategically, we focus mainly on early-stage Fintech and E-commerce companies based on blockchain technology. For more information, please follow: http://www.vemanti.com
About SmartChain Pte. Ltd.
SmartChain Pte. Ltd. is a Singapore-based blockchain R&D company. The company brings world-class services and knowledge in blockchain and smart contracts with exceptional software engineers, both back-end and front-end, to work on the development of platform technologies and client projects. For more information, please follow: www.smartchainlabs.com
This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the company and its management team. Forward-looking statements are projections of events, revenues, income, future economics, research, development, reformulation, product performance or management's plans and objectives for future operations. Some or all of the events or results anticipated by these forward-looking statements may not occur. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control.
Contact Information Vemanti Group, Inc. Investor Relations (800) 768-1288 firstname.lastname@example.org
Source:Vemanti Group, Inc