VIDEO: Global Blockchain Technologies Corp President Introduces New Cryptocurrency
Global Blockchain Technologies Corp (CNSX:BLOC) (OTCMKTS:BLKCF) (FRA:BWSP) President Shidan Gouran provides his cyrpto-currency expertise to describe the trading patterns and problems inside the global blockchain space. Global Blockchain have created Laser, their own cypto-currency, which tries to improve upon Ethereum by creating additional features to make it faster, more streamlined, and provide greater accuracy allowing it to be a hub for interaction across different crypto currencies.
James West: Hey, welcome back to Midas Letter Live. My next guest is Shidan Gouran. He is the President of Global Blockchain Corp, trading on the CSE under the symbol BLOC. Shidan, thanks for joining us today.
Shidan Gouran: Thanks for having me.
James West: Shidan, we’ve been following the story with interest. The blockchain thing sort of got up a head of steam in the first quarter of 2018 and it’s kind of levelled out now, but what is driving sort of the trading patterns in the global blockchain space generally? Not yours specifically, but what’s driving moving the stock around in blockchain companies?
Shidan Gouran: One thing to keep in mind is that a lot of these blockchain companies, including ours, are going to be trading somewhat reflecting the cryptocurrency market. So if there’s a big increase in the price of bitcoin, for example, that will get reflected, and probably amplified, in the global blockchain; and likewise when things go down, that gets reflected as well.
Out of all the blockchain companies, I can say ours is one of the very least that’s affected by any downturns in the crypto markets, and that’s because people see that we’re actually doing some really neat initiatives, and coming out with products and services, and funding real companies. So that kind of protects us from a lot of the downside in the crypto markets that have been happening, you know, in recent times.
James West: Sure. So you’ve made a couple of moves.
Shidan Gouran: Right.
James West: So in the order of sort of priority, what are the ones that you’re most excited about?
Shidan Gouran: Well, we just announced Laser last week, and that’s a cryptocurrency that we’ve been working on for many months now.
James West: Your own cryptocurrency?
Shidan Gouran: It’s our own cryptocurrency, it’s actually a fork of Ethereum, and we’re adding features to make it better, in making it faster, allowing it to be a hub for cross-chain communications – so you know, if you think of Swift, this is kind of like the Swift of blockchain. It allows, for example, somebody from Ethereum to transact with somebody on bitcoin, without any singular intermediaries; the whole Laser blockchain becomes the intermediary. So that’s one great feature about it: it brings anonymous transactions to the blockchain, and I think with – one reason why today, actually, the crypto markets are down is because a few bugs have been found in some key Ethereum smart contracts this past week.
And you know, our philosophy is that you need a lot more precision, a lot more accuracy, you know, more – the same philosophies when you’re developing an X-ray machine, for example, when you’re developing these applications, because you’re dealing with people’s money. You’re not just dealing with, you know, like building a website, for example.
James West: So is it safe to say that the approach to Ethereum’s development has been characterized by, perhaps, an insufficient attention to detail in the programming?
Shidan Gouran: I believe so, and that’s one thing we’re trying to rectify with Laser.
James West: Okay. So will Laser have the smart contract features that Ethereum does?
Shidan Gouran: Absolutely. But it will have some more failsafe mechanisms in place to catch bugs and to restrict exactly, you know, some of the issues that Ethereum currently has.
James West: Okay, so you also added NYMEX Chairman Richard Schaeffer to the advisory board; that’s a coup. How is his participation going to help you?
Shidan Gouran: Yeah, I had the pleasure of meeting him in Toronto just a little while ago, and we started talking about the blockchain space. It turned out that he’d been researching it quite a bit, and it’s not really surprising; I think this is the future of the financial industry, especially for the derivatives and commodities markets. I was really surprised by how knowledgeable he was of the space, actually, and the more we talked, the more it made sense to bring him onboard to really help us and give us some guidance on how these technologies can be used in the commodities and derivatives markets.
James West: So I look at his participation, I look at the Swift for blockchains idea that we just talked about and the Laser network, and it strikes me that you seem to be developing infrastructure for an institutional grade of transaction globally. Is that a safe characterization, and is that reflective of your business model?
Shidan Gouran: Absolutely. So one thing that we announced is we’re also working on a trade finance platform with a bunch of state actors, actually, and we’ll have more news on that by the summer, I imagine. You really need something completely secure to bring on governments and large ports and those kinds of organizations, and that’s one of the reasons why we’ve decided to fork Ethereum and really have our own solution that is a best-of-breed solution.
We’re also working with another amazing cryptocurrency for that project, and we’re working very closely with the founders of that project. It’s one of the top 20 cryptocurrencies today.
James West: Oh, is that right, eh? So then, the ability to transact in cryptocurrencies – there’s a limit to what you can do at this point because of the restrictions associated with anti-money-laundering provisions, with KYC (know your client) provisions, the fees in and out, the transaction times, the number of transactions per given hour that can occur…so from where you sit, you guys seem to have made your bet mostly on Ethereum. Is that safe to say, or are you just happen to be on that one right now?
Shidan Gouran: No, I think – so Laser is evolving Ethereum to be what we think is the best solution, but there’s no one blockchain to rule them all for all applications. Each one is going to be a specific tool for, you know, a specific set of use cases. So you know, something like a social network? Probably Laser wouldn’t be the best fit for it. We’re an attention economy token, so we’re looking at other products – solutions that we’ve actually been involved with in the past, even pre-global-blockchain, in creating as a team.
So you know, there’s various blockchains, you know. What Laser, for example, does very well, is it allows a decentralized exchange in the sense of custodianship; you can have various products or funds that are not held by any custodian, able to trade. But you still have a centralized order book. There are other cryptocurrencies, for example Stellar, which solved the other problem of having a decentralized order book. So having these two be able to talk to each other, or for a social network, for example, you have some blockchains like IOS and Steem that are probably a better fit – having all these be able to talk to each other and do what they’re really good at, makes a lot more sense than having one system for everything.
James West: Okay. When does this whole platform start to generate revenue, and when does it become profitable?
Shidan Gouran: I think very soon. So one, you know, separate blockchain actually to Laser that we’re developing is a gaming-related blockchain, casual gaming e-sports. We already have 12 very established gaming companies signed up, with over 400 million users, and they will be using this for commerce in game purchases, things like that, in game assets – really what blockchains are good at – representing digital assets – very, very soon. So this summer, that’s another project I’m hoping we can…
James West: So Global Blockchain is more focused on the infrastructure at the blockchain itself, though you participate in custom-built of different cryptocurrencies, and –
Shidan Gouran: Global Blockchain is involved in everything and anything in the blockchain space. We’re willing to look at and incubate projects and spin them out, essentially. So you look at our mining division: we’ve spun that out into its own company, and it now has more capacity than any mining operation in North America. And we’re going to do that with every vertical we really focus on, and build it out like that. So I like to think of us as, you know, kind of like an incubator private equity company for the blockchain space.
James West: Very cool.
Shidan Gouran: And we actually are; I mean, we’re an investment issuer.
James West: Right. All right, Shidan, that’s a great introduction. We’ll come back in a quarter’s time and see how you’re doing.
Shidan Gouran: Wonderful.
James West: Thanks for coming in.
Shidan Gouran: Thank you.
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