Upco International Inc. (CSE: $UPCO.C) (OTC: $UCCPF) (Frankfurt: U06) Announces Development of Advanced #Blockchain Payment System
Upco
International Inc. (CSE: $UPCO.C) (OTC:
$UCCPF) (Frankfurt: U06) Announces Development of Advanced #Blockchain
Payment System
Vancouver,
BC, February 22, 2018, Investorideas.com, a leader in Blockchain content with
its Bitcoin and Blockchain portals Bitcoinandblockchainstocks.com, Cryptocurrencyinvestorideas.com
and Blockchaininvestorideas.com
report -- Upco International Inc. (CSE:
UPCO) (OTC: UCCPF) (Frankfurt:
U06)
(“Upco”) is pleased to announce significant improvements in its existing
platform and Telecom service offering, through the successful integration of
advanced blockchain technologies in the areas of invoice management (accounts
payable and receivable) and Short Message Service (SMS) communications. These enhancements are an important element
of Upco’s vision to leverage the benefits of blockchain technology in the areas
of data security and auditability (time stamped and immutable data), while
providing a service that is high performance and extensible. This strategy emphasizes trust and certainty
in the enterprise-level data framework that supports Upco’s business, and which
ultimately benefits customers, and financial and legal stakeholders.
Application
of blockchain technology to accounts payable and receivable data enables Upco
to offer highly secured and auditable services to major financial services
providers and other enterprise customers, while also improving retail
service. Enhanced data management
maintains a forensic record of changes to associated data, while yielding
significant improvements in areas such as invoice/payment reconciliation
(confirmation and verification), receivables notification, Borrowing Base
Certificates, and month-end processes for availability/purchase price
reconcilations.
Application
of blockchain technology to SMS communications maintains forensic records of
dates, content, delivery time, reading time and sender and receiver information,
should this information be required for legal purposes. Changes will also benefit service-relevant
processes such as registrant authentication, upgrade authorization, user
re-activation, and transaction authentication.
With
these improvements, Upco has further demonstrated its ability to successfully
apply blockchain technologies to business scenarios where forensic control, and
storage and distribution of immutable data are required. This expertise represents an important
foundation in the staged delivery of a full-featured international
invoice/payment/exchange/transfer service (outlined in Upco’s February 2 News
Release). Fully deployed, this service
will enable users to send invoices, approve payments, transfer international
funds, convert international currencies, and track transfers and payments.
Upco also announces that it has issued 120,000 common shares in its
capital at a deemed price of $0.25 per share to arm’s length parties in
settlement of $30,000 in debt. The shares are subject to a statutory 4-month
hold and are so legended.
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
Apple iOS and Android, similar to SKYPE and WhatsApp. With the
forthcoming addition of the Upco E-Wallet using 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.
Please
visit www.upcointernational.com for further information.
ON
BEHALF OF THE BOARD OF DIRECTORS
Andrea
Pagani, CEO and Director
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.
Forward-Looking
Statements
This press release contains forward-looking information
or forward-looking statements (collectively "forward- looking
information") within the meaning of applicable securities laws. Forward-
looking information is typically identified by words such as: “will” “may”
"believe", "expect", "anticipate",
"intend", "estimate", “development”, “forthcoming”,
"potentially" and similar expressions, or are those, which, by their
nature, refer to future events. Upco cautions investors that any
forward-looking information provided by Upco is not a guarantee of future
results or performance, and that actual results may differ materially from
those in forward-looking statements.
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