Everything Blockchain Releases PulseChain Update from its Major Shareholder – Overwatch Partners, Inc.

Rhea-AI Summary

Everything Blockchain (OTC: OBTX) announced an update focusing on its involvement in PulseChain. Overwatch Partners, its largest shareholder, leads with a $31 million commitment to PulseChain, part of a $700 million total from 40,000 participants. The platform promises enhancements over Ethereum and is set to launch after its sacrificial period on August 2, 2021. Overwatch also supports the SENS Research Foundation, which raised $25 million for aging research. CEO Eric Jaffe emphasized the company's dedication to blockchain technology and shareholder transparency.

Positive

• Overwatch Partners committed over $31 million to PulseChain, indicating strong investor confidence.
• The PulseChain platform is expected to be the largest launch and airdrop in blockchain history, potentially driving interest and market position.
• Support for the SENS Research Foundation aligns Everything Blockchain with innovative healthcare initiatives.

Negative

• The reliance on PulseChain's success is a significant risk if the platform fails to perform as expected post-launch.
• Market uncertainties regarding the cryptocurrency space could affect OBTX's stock performance despite its participation in PulseChain.

Fleming Island, Florida, July 28, 2021 (GLOBE NEWSWIRE) -- EVERYTHING BLOCKCHAIN, INC. (OTC Markets: OBTX), an advanced software architecture, development and services company specializing in blockchain technologies and decentralized processing, released an update in its entirety by its largest shareholder, Overwatch Partners, Inc. Eric Jaffe, Everything Blockchain’s CEO stated, “We feel it’s important for all our shareholders to understand our commitment and involvement in Blockchain. As a participant in PulseChain, our shareholders should be kept aware of its progress.” 

Overwatch Partners, Inc. (“Overwatch”), a venture capital home office, business incubator service specializing in technology and blockchain companies, and the largest shareholder of Everything Blockchain, has recently taken the lead in the sacrifice position with more than $31 million in PulseChain, an Ethereum fork. In addition to its initial commitment, Overwatch maintains liquidity to more than double its participation in PulseChain. PulseChain is a new Blockchain-based cryptocurrency ecosystem that offers significant enhancements over the legacy Ethereum platform. With just six days remaining during the sacrifice phase of PulseChain, approximately $700 million has been committed to PulseChain with 40,000 participants. The PulseChain platform will be the largest platform launch and largest airdrop, or initial distribution, in the history of Blockchain.  

The native token of PulseChain will be Pulse [Symbol: PLS] which can be bought and sold on both the Ethereum and PulseChain platforms after the sacrificial period. There is a 17-day sacrificial period, scheduled to conclude at midnight on August 2, 2021, at which time the PulseChain network will launch after a quiet period giving time for PulseChain to establish validators and distribute PLS tokens.   

Christian “Rackham” Rishel, a founding partner of Overwatch Partners, and the entire Overwatch team stand committed to PulseChain in support of Richard Heart, Hex and PulseChain founder and crypto-markets guru.  Overwatch fully endorses the decision to support the SENS Research Foundation, and we are excited to learn that more than $25 million was raised in donations as part of PulseChain’s initial sacrifice phase. The SENS Research Foundation works to develop, promote, and ensure widespread access to therapies that cure and prevent the diseases and disabilities of aging by comprehensively repairing the damage that builds up in our bodies over time. They are redefining the way the world researches and treats age-related health issues, while inspiring the next generation of biomedical scientists.

Christian Rishel stated, “We support Richard Heart’s endeavors and are in step with his vision of the Blockchain. His development of the third largest market cap cryptocurrency ($77 Billion), trailing only Bitcoin and Ethereum in the market of more than 7,500 cryptocurrencies, speaks volumes of his vision, strategy, acumen and success. While market gatekeeping and personality clashes seem to detract from these successes, the protocols for HEX and PulseChain are and will be managed through Smart Contracts that have already been released and reviewed by industry auditors, and is decentralized, meaning no one owns it and no one person controls it. These platforms are reliant on the code and are self-regulating. Participating in PulseChain was one of the simplest decisions Overwatch Partners has made!”

Follow Christian “Rackham” Rishel on Twitter:  https://twitter.com/RackhamRishel

Follow Everything Blockchain on:
Facebook (www.facebook.com/everythingblockchain1)
Twitter(www.twitter.com/EverythingBloc4)
LinkedIn (www.linkedin.com/company/everythingblockchain)

About Everything Blockchain:

Headquartered in Fleming Island, Florida, Everything Blockchain, Inc., (OTCMKTS: OBTX) is a development, architecture, and software designer of Blockchain that also provides consulting and services specializing in blockchain technologies and decentralized processing.

About Overwatch Partners:

Headquartered in Fleming Island, Florida Overwatch Partners is developing a 24,000 square foot business incubation center, designed to grow businesses during their early stages. Partners of Overwatch have incubated businesses in technology, blockchain, hospitality and entertainment, manufacturing, construction, green tech, cannabis, agriculture, and aerospace.

Forward Looking Statements

This news release contains “forward-looking statements” which are not purely historical and may include any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as “anticipate”, “seek”, intend”, “believe”, “estimate”, “expect”, “project”, “plan”, or similar phrases may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company’s reliance on existing regulations regarding the use and development of Blockchain products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations, and intentions contained in this press release are sensible, there can be no assurance that any such beliefs, plans, expectations, or intentions will prove to be accurate.

FAQ

What is Everything Blockchain's involvement in PulseChain?

Everything Blockchain is a significant participant in PulseChain, with its largest shareholder committing over $31 million.

When does the PulseChain sacrificial period end?

The sacrificial period for PulseChain concludes at midnight on August 2, 2021.

How much money has been committed to PulseChain?

Approximately $700 million has been committed to PulseChain by around 40,000 participants.

What is the future outlook for OBTX after the PulseChain launch?

The success of OBTX is closely tied to the performance of PulseChain, and its reliance on this platform poses potential risks.

What initiatives does Everything Blockchain support?

Everything Blockchain supports the SENS Research Foundation, which focuses on developing therapies for aging-related health issues.