GPLS Announces "DOKT," Dollar-backed Stablecoin, as Basis of Cannco Financial Ecosystem for Cannabis Companies
December 11 2019 - 8:37AM
InvestorsHub NewsWire
GPLS Announces "DOKT," Dollar-backed Stablecoin, as Basis of Cannco
Financial Ecosystem for Cannabis Companies
- Now approved to accept cash deposits represented by DOKT
tokens
- Coin serves as means of exchange for cannabis products and
services between industry suppliers and
purchasers
- Partnering custodial trust has created the process to
issue, transfer and manage tokens that underpin Cannco financial
ecosystem
- Separate Canncoin security token allocated to recent
investors will be issued upon registration of security token with
SEC
- Token allocation notifications have been delivered to
participants in 2018 crowd funded
offering
Los Angeles, CA -- December
11, 2019 -- InvestorsHub NewsWire
-- Geopulse Exploration, Inc. (dba Cannco Brands and Development)
(OTCMKTS: GPLS), a blockchain-powered
logistics, financial services and promotion solutions development
company for the under-serviced cannabis sector, today announced
completion of approvals and establishment of a dollar-backed
stablecoin, which will form the basis of the Cannco merchant
services and financial
platform.
As previously disclosed, the
Company has entered into an agreement with a custodial trust that
has completed the infrastructure required to issue, manage, and
track the cryptocurrency that will represent the merchant
transactions that occur using Cannco financial
services.
DOKT tokens are
distinguished from Canncoin security tokens that will be registered
with the SEC and issued to Cannco investors from prior and current
offerings representing proportional ownership in the company and
entitlement to economic participation in Cannco profit. All
investors have received notification of their specific Canncoin
allocation.
When a Cannco participating
merchant conducts a transaction on the platform, tokens will be
minted and placed into the account by the custodial trust and will
serve as a dollar-backed, digital representation of cash in the
depositor’s account. The cash may be retrieved through
“cashing out” via a wire to the account holder from the trustee or
may be used for additional purchases of products or services from
other platform users.
“We’ve been working closely
with our custodial trust partners developing the framework of the
process and cryptocurrency core of the platform,” commented Marcus
Laun, Geopulse Exploration CEO. “Achievement of the ability to
accept deposits and process transactions is a milestone that allows
us to accelerate development of the merchant services which will
extend from the platform.”
The Company plans on
launching a beta version of its merchant processing service, and on
accepting its first cash within the first quarter of
2020.
About Geopulse, DBA Cannco
Brands
Geopulse Exploration, Inc.
(OTC PINK: GPLS) develops a blockchain-powered logistics, financial
services and promotion platform for the unbanked, early-stage and
explosive growth U.S. and Canadian cannabis sector. Among its
assets (or pending acquisitions) are THCFinder.com, a 300,000-user
geo-finder app for cannabis dispensaries and MMJ medical offices
throughout the U.S., and CannCoin, a native token underlying a
distributed ledger logistics and financial services ecosystem for
cannabis. Cannco Brands intends to provide commercial services such
as transparent supply chain management, business banking and
merchant processing, trade finance, direct-to-consumer engagement
solutions.
Safe Harbor
Notice
Certain statements contained
herein are "forward-looking statements" (as defined in the Private
Securities Litigation Reform Act of 1995). Geopulse Exploration,
Inc. cautions that statements made in this news release constitute
forward-looking statements and makes no guarantee of future
performance. Forward-looking statements are based on estimates and
opinions of management at the time statements are made. These
statements may address issues that involve significant risks,
uncertainties, estimates, and assumptions made by management.
Actual results could differ materially from current projections or
implied results. Geopulse Exploration, Inc. undertakes no
obligation to revise these statements following the date of this
news release.
Contact:
Marcus
Laun
CEO
(323)
300-4550
145 S. Fairfax Av
#200
Los Angeles, CA
90036
marcus@canncoin.io
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