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Block One Capital Inc. (TSXV:BLOK) (OTCQB:BKPPF), an investment company focused on high growth opportunities in the blockchain and cryptocurrency sector, is pleased to announce that it has entered into a definitive agreement with Affirmation Technology Group LLC to acquire 30% of the New York, USA based developer of decentralized anti-money laundering (“AML”), know your customer (“KYC”) and Accredited Investor solutions. Under the terms of the definitive agreement, the Company has acquired 30% of the blockchain technology company, with an option to acquire an additional 10%.
Affirmative Technology provides the technical infrastructure to power a suite of decentralized compliance solutions through the INTELid™ (www.intelid.com) platform. The business proposition is to bridge the gap between the growing want for decentralized, peer-to-peer financial markets, and the global need for compliance adherence as required by current market regulators and other governing bodies. Affirmation Technology was founded by Wall Street veteran and long-time technology strategist Scott Carotenuto.
“INTELid is where investors, traders and other would-be blockchain participants have actual ownership of their [verified] AML, KYC, and investor accreditation data. Compliance requirements surrounding new issue securities tokens, crypto trading, as well as counterparty-risk assessment for OTC and secondary markets are going to continue to evolve with advancements in use cases for blockchain and cryptography, and we intend to position INTELid as the benchmark for decentralized compliance solutions. INTELid user data ownership is coupled with the individual owner’s ability to also control the level of confidentiality or anonymity employed when conducting business,” said Mr. Scott Carotenuto.
“Affirmation Technology is not only a pioneer in blockchain AML/KYC architecture, it will also enable security token issuers be compliant while restoring power and privacy to the investor,” said Mr. Sothi Thillairajah, CEO of Block One Capital Inc.
For more information on Block One please visit the Company’s website at: www.blockonecap.com.
Chief Executive Officer
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