Wikisoft Corp - Pioneering Startup Funding with Blockchain Acquisition

Rhea-AI Summary

Wikisoft Corp. (OTCQB:WSFT) announced its acquisition of 51% of Etheralabs LLC, enhancing its capabilities in the Blockchain sector. This strategic move aims to combine Wikisoft's extensive data on startups, funds, and investors with Etheralabs' expertise in Blockchain technology. The upcoming Wikifunding platform will enable secure and automated connections between startups and investors, potentially revolutionizing the funding process. The partnership highlights the transformative potential of Blockchain in financial services, with predictions suggesting that 10% of global GDP could be stored on these platforms by 2025.

Positive

• Acquisition of 51% of Etheralabs LLC expands Wikisoft's Blockchain capabilities.
• Expected launch of the Wikifunding platform to enhance startup funding connections.
• Potential to disintermediate the fund value chain, reducing costs and time.

Negative

• None.

SAN FRANCISCO, CA / ACCESSWIRE / March 8, 2022 / Wikisoft Corp. (the "Company," "we," and "our") (OTCQB:WSFT) recently announced that it has acquired 51% of Etheralabs LLC a New York City based venture lab and ecosystem that invests in, builds, and deploys disruptive technologies across the Blockchain space.

Wikisoft's vision is to combine the company's massive amount of data on start-ups, funds and investors with Etheralabs' disruptive Blockchain technology to accelerate finance partnerships between startups and investors - Wikisoft providing the relevant data intelligence and direct investment opportunities and Etheralabs providing the Blockchain expertise and technology on contract execution.

Carsten Kjems Falk, Chief Executive Officer of Wikisoft Corp. said, "Our upcoming Wikifunding platform enriched with Etheralabs' disruptive Blockchain technology will enable startups to connect to venture capital, funds and investors for funding in an automated, secure and transparent way. Investors, funds and venture capital will likewise have an efficient way of finding prospects and making the right investments."

Bryan Feinberg, CEO and Founder of Etheralabs commented: "Wikisoft's data capabilities coupled with our background in transforming large data ecosystems into vibrant venture communities creates a way to accelerate and disrupt the funding process."

Extending far beyond bitcoin and cryptocurrencies, Blockchain technology is cutting out the middleman in most business sectors. A survey from the World Economic Forum underlines the transformation this technology will bring to the financial services sector with expectations of at least 10% of the global GDP being stored on Blockchain platforms by 2025. Deloitte recently wrote that 23% of the fund order process is still being handled manually, mainly though fax orders which have a significant impact on distribution costs and time. The fund sector that is seeking levers for processing optimization and that relies a lot on financial service intermediaries such as transfer agents, fund registries, and fund administrations will be particularly impacted. Blockchain could disintermediate the fund value chain and Escrow accounts, Transfer agents and fund administration would not be needed anymore reducing a lot of time to execute the transfer of value in a secure, transparent and automated way. The Blockchain has the power of an earthquake that would shake to the ground the whole funding industry.

The upcoming Wikifunding platform has an ambition to be at the frontier of startup funding and investment, bringing decentralization, security, immutability, and transparency to the fund distribution and administration market causing the first tremors in the funding industry.

This press release does not constitute an offer of any securities for sale.

ABOUT ETHERALABS LLC
Etheralabs is New York City based venture lab and ecosystem that invests in, builds, and deploys disruptive technologies across the Blockchain landscape. Etheralabs fast-tracks ideas into solutions that help high-growth companies with a focus on capital appreciation and scale via early-stage identification and accelerated resource deployment. The acceleration model lays the foundation for taking promising IP from both concept to company and from revenue to profitability, culminating in a fully functioning portfolio venture that is ready to attract follow-on funding, an acquisition partner, or to operate as a standalone company.

More information can be found at: https://etheralabs.io

ABOUT WIKISOFT CORPORATION

In today's fast-moving business world of increasing globalization, Wikisoft leverages big data and associated insights from business datasets to improve performance.

In line with this new phase of globalization, Wikisoft believes that there is a growing demand for access to credible and reliable business data. Data is essential to creating the complete view of customers, prospects, investors, suppliers, and partners necessary to power the right decisions.

Our vision is to create opportunity globally by collecting precise data, curating it, verifying it and putting it in the hands of professionals and businesses as consumable business intelligence. We believe in the power of Wikisoft to collect massive amounts of data and deliver it to businesses curated, credible and reliable.

FORWARD-LOOKING STATEMENTS

This press release contains statements of a forward-looking nature about the Company. You can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "future" or other similar expressions. The Company has based these forward-looking statements primarily on the Company's current expectations and projections about future events and financial trends that the Company believes may affect Company's financial condition, results of operations, business strategy, and financial needs. There is no assurance that the Company's current expectations and projections are accurate. All forward-looking statements in this press release are based on the Company's information on the date hereof. These statements involve known and unknown risks, uncertainties, and other factors that may cause the Company's actual results to differ materially from those implied by the forward-looking statements. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time. The Company does not undertake any obligation to update or revise the forward-looking statements except as required under applicable law. This press release does not constitute or form part of any offer or invitation to purchase, otherwise acquire, issue, subscribe for, sell or otherwise dispose of any securities, nor any solicitation of any offer to purchase, otherwise acquire, issue, subscribe for, sell, or otherwise dispose of any securities of the Company. The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restrictions.

CONTACT
WikiSoft Corp.
315 Montgomery Street, San Francisco,
CA 94104, USA
Phone: +1-800-706-0806
Email: investor@wikisoft.com
Investor site: www.wikisoft.com

SOURCE: WikiSoft Corp.

View source version on accesswire.com:
https://www.accesswire.com/691796/Wikisoft-Corp--Pioneering-Startup-Funding-with-Blockchain-Acquisition

FAQ

What significant acquisition did Wikisoft Corp. announce on March 8, 2022?

Wikisoft Corp. announced the acquisition of 51% of Etheralabs LLC, a venture lab focused on Blockchain technologies.

How will the acquisition of Etheralabs benefit Wikisoft Corp.?

The acquisition will enhance Wikisoft's data-driven capabilities in the Blockchain sector, enabling the creation of the Wikifunding platform for efficient startup funding.

What is the purpose of the upcoming Wikifunding platform?

The Wikifunding platform aims to connect startups with venture capital and investors in a secure, automated, and transparent manner.

How does Blockchain technology impact the funding industry according to the press release?

Blockchain has the potential to cut out intermediaries in the funding process, leading to reduced costs and increased efficiency.

What are the expectations for Blockchain's role in the financial services sector by 2025?

It is predicted that at least 10% of global GDP will be stored on Blockchain platforms by 2025.