VANCOUVER, Jan. 17, 2018 /CNW/ - Carl Data Solutions Inc. (CSE:CRL, FSE:7C5, OTC:CDTAF) ("Carl Data" or the "Company"), has signed a service agreement with Connected Fintech Inc. ("Connected") that includes the building of cryptocurrency mining facility; the development predictive analytics and operational metrics for cryptocurrency mining; and the development of breakthrough machine to machine (M2M) transactional capabilities.
Carl Data intends on mining the primary cryptocurrencies including: Bitcoin, Bitcoin Cash, Ethereum and Dash. This mining facility will include both GPU (Ethereum) and the most current ASIC machines to provide versatily allowing several dozen different coins to be mined. Based on current cryptocurrency prices, the Company anticipates that the investment will add gross revenues of $250,000 to Carl Data's annual revenues.
Jay Yu, President and CEO of Connected, "We are excited to partner with Carl Data Solutions in helping them enter the rapidly growing space of cryptocurrency mining and the development of integrating blockchain into the IIoT (Industrial Internet of Things). Connected Fintech is in the process of building out the required infrastructure and hardware needed for Carl's cryptocurrency mining, both offsite and within a portion of Carl's facilities. Cryptocurrency mining is beginning to experience a significant shift into Canada and this mutually beneficial partnership provides long term strategic value for both companies. Carl Data will have the ability to target and mine the most profitable coins (generally Bitcoin and Ethereum). Bitcoin can also be used to purchase other coins as a means to diversify its cryptocurrency portfolio, while also maximizing the amounts accumulated. With application of predictive analytics and machine learning this will be a great opportunity to develop more Fintech specific technological knowledge, while providing an additional revenue stream."
Currently, Carl Data works with a variety of devices, sensors and data sources that are all connected to the IIoT. After working closely for years with hardware vendors, the Company knows the technological needs of the newly emerging data economy. Smart devices and machines will communicate directly – machine to machine (M2M) – to improve operational efficiency, and provide solutions such as Smart Contracts. Carl Data intends to continue to develop the latest and most effective technology in the IIoT space, through their expertise with AI, machine learning and predictive analytics.
Greg Johnston, Carl Data's President and CEO, commented, "Data marketplaces are already being built by companies like Accenture and Microsoft. There is even already a dedicated crypto currency for IIoT, IOTA. Our development and acquisition strategy is to add complimentary technologies to provide our customers with the best technology available. We are continuing this commitment through our partnership with Connected Fintech."
About Connected Fintech Inc.
Connected Fintech Inc. with offices in Vancouver B.C. and Wall Street N.Y.C, is a diversified financial technology company focused in the fastest growing sectors of Cryptocurrency, BlockChain Technology, Payment Solutions, Data Intelligence, Industrial Internet of Things (IIoT), Artificial Intelligence (AI), Machine Learning and Predictive Analytics.
Connected plans to purchase its own real estate and land for developing large scale Cryptocurrency mining facilities in Canada and the United States. Connected Fintech Inc. provides Technical Professionals in Hardware and Software build out of Cryptocurrency data mining infrastructures and facilities. Connected is creating a portfolio of Intellectual Property (IP) in the space of Industrial Internet of Things (IIoT), Payment Solutions, Cryptocurrency and BlockChain Technologies. www.ConnectedFintech.com
About Carl Data Solutions Inc.
Carl Data Solutions Inc. is an Industrial IoT (IIoT) company focused on providing next generation information collection, storage and analytics solutions for data-centric companies. Building on its recent acquisitions, Carl helps its clients analyze and understand all forms of environmental data through a powerful platform of data collection, monitoring, reporting, and predictive analysis tools.
Carl Data continues to develop applications to work with new cloud-based mass storage services and analytics tools (Big-Data-as-a-Service (BDaaS) to provide scalability for municipalities, utilities and other industrial verticals. These data collection and storage methods allow the company to build smart Software-as-a-Service (SaaS)-based applications that can collect data from many diverse sources and provide deep insight for decision-making purposes. More information can be found at www.CarlSolutions.com.
On behalf of the Board of Directors:
President, Chief Executive Officer, Director
Carl Data Solutions Inc.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
Disclaimer for Forward-Looking Information
Certain statements in this press release related to the Offering and the securities issuable thereunder are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the proposed acquisition of cryptocurrency mining hardware by the Company and the expected terms of such acquisition, the Company's proposed agreement with Connected and the expected results of such agreement, the expected benefits of the Company's foray into the cryptocurrency mining and Blockchain spaces, including the expected increase of revenues of $250,000 per annum, the development predictive analytics and operational metrics for cryptocurrency mining, and the development of breakthrough machine to machine (M2M) transactional capabilities. Forward-looking statements are subject to a number of risks and uncertainties that may cause our actual results to differ materially from those discussed in the forward‐looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: uncertainties relating to ability to establish the cryptocurrency mining facility; the ability to successfully operate the facility; the ability to develop predictive analytics and operational metrics for cryptocurrency mining; the ability to develop breakthrough machine to machine (M2M) transactional capabilities; the ability of the Company to establish a market for its services; competitive conditions in the industry; general economic conditions in Canada and globally; the inability to secure additional financing; competition for, among other things, capital and skilled personnel; potential delays or changes in plans with respect to deployment of services or capital expenditures; possibility that government policies or laws may change; technological change; risks related to the Company's competition; the Company's not adequately protecting its intellectual property; interruption or failure of information technology systems; and regulatory risks relating to the Company's business, financings and strategic acquisitions. The information contained herein and any forward-looking statement speaks only as of the date on which it is made and is subject to change. We disclaim any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise, except as may be required by applicable securities laws. Although we believe that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly, undue reliance should not be put on such statements due to their inherent uncertainty.
SOURCE Carl Data Solutions Inc.
For further information: Kimberly Bruce, Corporate Communications, Carl Data Solutions Inc., Telephone: (778) 379-0275, Email: [email protected]