Upco International Inc. (CSE: $UPCO.C) Announces Development of Advanced #Blockchain Payment System
Upco
International Inc. (CSE: $UPCO.C) Announces Development of Advanced #Blockchain
Payment System
Vancouver,
BC, November 27, 2017, Upco International Inc. (CSE:
UPCO)
(“UPCO”) is pleased to announce plans to expand its current mobile application
to include a payment service using advanced blockchain technologies. Currently,
its application enables fully secure communications through social media,
picture and location sharing, international airtime top-up, international and
national calls, and chatting like SKYPE and WhatsApp. With the addition of
blockchain payment services, users will be able to: send invoices, approve payments, transfer
international funds, convert international currencies, and track transfers and
payments. The application will also allow vendors to securely share account
information with their clients.
Mr Andrea Pagani,
CEO and President of UPCO commented, “The first generation of the digital
revolution brought us the Internet of information. The second generation —
powered by blockchain technology — is bringing us the Internet of value: a new
platform to reshape the world of business and transform the old order of
human affairs for the better. Blockchain is the technology that underlies the
cryptocurrency Bitcoin. Blockchain
allows a vast, global distributed ledger or database running on millions of
devices, where not just information but anything of value — money, but also
titles, deeds, identities, even votes — can be moved, stored and managed
securely and privately.”
The
development team for this blockchain payment service will be led by Dominic da
Assuncao, senior business systems consultant and full-stack software engineer
whose background includes: international business, operations and computer
systems management, and computer games programming. Since 1991, Dominic has delivered world-class
shrink wrap software, as well as customized ERP systems, multi-media
applications, and internet enabled auction and medical systems. At present
Dominic is engaged in upgrading a major clinical system, operating at a prominent Canadian
hospital, using blockchain technology.
Since
the late 1990’s Dominic has been working with immutable database frameworks
that have evolved into blockchain technology, and has developed an experimental self-archiving
system to store large amounts of data on non re-writeable storage. The
technology has subsequently been adapted to use an ACID compliant relational
database to simulate CRUD functionality while permanently keeping all changes to the records.
This
technology also includes protocols which securely and automatically distribute
data throughout an open network of dissimilar servers optimized for distributed
network topography. This effectively avoids the costs of processing
transactions in peer-to-peer topography, although such adoption is possible.
The design was ported in 2007 for relational databases to serve as the
foundation of a shared distributed medical data storage system. Future
developments will include channel encryption as well as smart contracts.
About Upco International Inc.
Upco
International Inc. is a cloud based mobile service company which provides
high-quality voice termination to a market driven by the growing activity in
online communications and commerce. UPCO is a licensed Global Telecom Carrier
within the international VoIP (voice over IP) wholesale business. Upco has designed a software application for IOS and Android,
similar to SKYPE and WHATSAPP, that will
enable fully secure communications, and social media, namely
connecting users and sharing pictures, locations, international airtime top up,
International and national calls and chatting. Please visit www.upcointernational.com for further information.
ON
BEHALF OF THE BOARD OF DIRECTORS
Jag
Sandhu, Director and Vice President, Corporate Development
Tel.
778-218-9638
Neither the Canadian Securities
Exchange nor its regulation services provider has reviewed or accepted
responsibility for the adequacy or accuracy of the content of this news
release.
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