DigiMax Makes USD $5 Million Strategic Investment in Technology Disruptor, Kirobo, to Help Solve Decentralized Finance (DeFi) Transaction Risks
DigiMax Global Solutions announced a strategic investment of USD $5 million in Kirobo, a blockchain company focused on enhancing cryptocurrency transaction security. This investment aims to accelerate the launch of Kirobo's innovative products, including a cryptocurrency transfer solution that allows users to reverse erroneous transactions. Notable crypto pioneer Brock Pierce has joined the advisory boards of both companies to provide strategic guidance. DigiMax aims to integrate its AI technology with Kirobo's offerings, enhancing security in decentralized finance (DeFi).
- DigiMax invests USD $5 million for a 15% stake in Kirobo, facilitating product development.
- Kirobo's technology aims to eliminate risks of human error in cryptocurrency transactions.
- Brock Pierce's addition to advisory boards enhances credibility and strategic insight.
- None.
Crypto Pioneer Brock Pierce Joins Advisory Boards of Both Companies
- Kirobo, an Israeli based blockchain technology company, has developed solutions to some of the biggest problems in crypto by giving users new capabilities, such as:
- ability to cancel a transfer if sent to a wrong address;
- transactions can be password protected prior to sending to ensure only the intended user can be the recipient;
- Kirobo provides all the benefits of centralized financial services in a fully decentralized format - the technology enables large scale intermediaries such as credit card companies, and alternative payment systems, to offer their users security that was not previously available.
- Chairman of the Bitcoin Foundation and co-founder of EOS Alliance, Blockchain Capital, Tether, and Mastercoin (first ICO), Brock Pierce, has joined the Advisory Boards of both DigiMax and Kirobo where he will be providing strategic guidance around the global launch of Kirobo's portfolio of products.
TORONTO, ON / ACCESSWIRE / May 4, 2021 / DigiCrypts Blockchain Solutions Inc. (DigiMax), the provider of Artificial Intelligence and cryptocurrency technology solutions, has today announced a strategic USD
Tel Aviv based Kirobo is a blockchain technology company that provides state-of-the-art tools to crypto users and companies, helping them gain better control of their funds. Kirobo offers a straightforward and user-friendly interface that makes crypto management as simple and secure as online banking - something that could revolutionize the world of DeFi.
DigiMax and Kirobo have also announced that crypto pioneer Brock Pierce has joined the Advisory Boards of both companies where he will be providing strategic guidance around the global launch of Kirobo's portfolio of products. Over a stellar career to date, Pierce has established credentials as one of the world's preeminent crypto thought leaders, having co-founded EOS Alliance, Block.one, Blockchain Capital, Tether, and Mastercoin. Pierce currently serves as Chairman of the Bitcoin Foundation.
Brock Pierce said, "I am excited to be joining the advisory boards of both DigiMax and Kirobo, and I am looking forward to helping Kirobo introduce its unique and disruptive technology to the market."
The
Kirobo's first product - a breakthrough cryptocurrency transfer technology that allows users to "undo" or reverse a crypto transfer sent in error - eliminates the myriad of human error risks inherent to the execution of crypto transactions. A loss of money can occur when a transaction is sent to the wrong address, or when it is sent to an address that does not support the receiving of the transaction, such as trying to send directly to a smart contract address. This is exactly the problem that DeFi is trying to address - and Kirobo has the solution.
Kirobo has also developed a range of additional bespoke solutions tailored to crypto holders and merchants, which are set for release over the course of Q2 and Q3. The company is in discussions with several crypto exchanges regarding the planned integration of its solutions for later in 2021. Elements of Kirobo's new, soon to be revealed, solutions have helped the company yield two highly revered grants from the Israel Innovation Authority.
The company's logic layer functions by providing a unique transaction code that must be entered by the recipient in order to receive funds from the sender. Until the recipient has entered the correct code, the sender may retrieve the funds at any time. Kirobo is currently helping large scale intermediaries, crypto exchanges and payments companies offer their users unprecedented levels of transaction security.
Commenting on the announcement, Asaf Naim, Kirobo CEO said: "Today's announcement represents a firm seal of approval in Kirobo's service offering from a highly renowned technology solutions provider. The DigiMax investment will help us expedite the launch of new industry-leading solutions designed to help crypto participants, current and prospective, to navigate transactions with a greater sense of confidence and clarity. By removing the fear from crypto transactions, Kirobo will boost wider adoption levels as the enabler of risk-free crypto transactions. In the coming months, we look forward to exploring the integration of DigiMax's AI technology into our solutions while announcing some very exciting product launches that will advance the NFT and DeFi spheres."
Chris Carl, DigiMax CEO said: "We're proud to announce our strategic investment in Kirobo - a company that is set to fundamentally change the DeFi landscape with its suite of timely, security-centric solutions. DigiMax is firmly aligned with Kirobo's mission to broaden the accessibility of crypto through innovative technology tools built on the principles of trust, transparency and security. To enable the wider crypto space to achieve mainstream adoption, the substantial risk of human error, and machine coding error inadvertently creating massive losses on transactions must be addressed. We are also excited to invite Mr. Brock Pierce onto our Advisory Board. The Kirobo technology has the potential to change the way the world does commerce, and Mr. Pierce will be of huge assistance in helping us to strategically introduce the technology on a global scale to provide secure transactions for individuals, and to provide giga-scale solutions to credit card and similar cash transaction companies wishing to enable crypto-based commerce."
For more information on Kirobo's Retrievable Transfer feature, please visit Kirobo.io.
The Board of Directors has also approved the establishment of a Restricted Share Unit Plan. This plan defines the maximum number of restricted shares allowed to be issued as
The terms of the investment include DIGIMAX paying US
About Kirobo
Kirobo has a single mission: to provide crypto users and companies with state-of-the-art tools to gain better control of their funds. The company's final goal is to make blockchain as simple and secure as online banking. With support from the Israel Innovation Authority, Kirobo has already created logic layers over the Bitcoin and Ethereum network, and is rolling out advanced services and solutions on top of this layer. The company's logic layer functions by providing a unique transaction code that must be entered by the recipient in order to receive funds from the sender. Until the recipient has entered the correct code, the sender may retrieve the funds at any time.
About Brock Pierce
Brock Pierce is an entrepreneur and venture capitalist with an extensive track record of founding, advising and investing in disruptive businesses. He's credited with pioneering the market for digital currency and has raised more than
About DigiMax
DigiMax Global Solutions is a technology Company committed to unlocking the potential of disruptive technologies by providing advanced financial, predictive, and cryptocurrency solutions across various verticals. DigiMax is an official IBM Watson partner and the Company's engineering team has extensive experience in Machine Learning, Neural Language Processing, Artificial Intelligence, Big Data and Cryptocurrency technology.
The Company's Projected Personality Interpreter (PPI) solution is currently used by various organizations including 16 law enforcement agencies that are gaining comparative insights for better hiring decisions, reducing employment attrition, and improving workplace culture.
The Company's SAAS platform CryptoDivine allows cryptocurrency investors to simplify their decision making, reduce risk, exploit market volatility and improve investing performance. The Company's proprietary AI engine analyzes millions of data points per hour to spot relevant patterns and generate accurate price trend predictions.
To learn more, visit our website: www.digimax-global.com.
Contacts DigiMax:
Martti Kangas
Investor Communications
647-521-9261
mkangas@digimax-global.com
or
Chris Carl
President & CEO
416-312-9698
ccarl@digimax-global.com
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Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. The Company may not actually achieve its plans, projections, or expectations. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: the adequacy of our cash flow and earnings, the availability of future financing and/or credit, and other conditions which may affect our ability to expand the App Platform described herein, the level of demand and financial performance of the cryptocurrency industry, developments and changes in laws and regulations, including increased regulation of the cryptocurrency industry through legislative action and revised rules and standards applied by the Canadian Securities Administrators, Ontario Securities Commission, and/or other similar regulatory bodies in other jurisdictions, disruptions to our technology network including computer systems, software and cloud data, or other disruptions of our operating systems, structures or equipment, the impact of Covid-19 or other viruses and diseases on the Company's ability to operate, consumer sentiment towards the Company's products and services, failure of counterparties to perform their contractual obligations, government regulations, competition, loss of key employees and consultants, and general economic, market or business conditions, the impact of technology changes on the products and industry, as well as those risk factors discussed or referred to in disclosure documents filed by the Company with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements.
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SOURCE: DigiMax Global Solutions
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