On-Line PLC PlusOneCoin cryptocurrency project (6284Y)
December 07 2017 - 2:00AM
UK Regulatory
TIDMONL
RNS Number : 6284Y
On-Line PLC
07 December 2017
For immediate release
7 December 2017
On-Line PLC
("On-line" or the "Company")
PlusOneCoin cryptocurrency project
The Board of On-line is pleased to announce the first phase of
our PlusOneCoin cryptocurrency project which we are developing in
conjunction with ADVFN PLC ("ADVFN"). Following successful testing
within the ADVFN community, ADVFN is today offering all its
customers and members a PlusOneCoin wallet, which has been built on
software developed by On-line. PlusOneCoin is designed as a social
media cryptocurrency which will allow social media users to
interact and "up vote" content of other social media.
The addition of the PlusOneCoin wallet to the ADVFN platform
allows customers to deposit PlusOneCoin at ADVFN from the relevant
blockchain. Customers will then, in due course, be able to exchange
PlusOneCoin for social media items and products on the ADVFN site
using PlusOneCoin wallet. PlusOneCoin can be transferred in and out
of the PlusOneCoin wallet.
The PlusOneCoin wallet brings PlusOneCoin onto the ADVFN
platform and facilitates and introduces its large mature user base
to cryptocurrency, blockchain mining and other aspects of this
emergent sector. The wallet also provides ADVFN users with an
educational platform to learn about cryptocurrencies, increased
functionality on the ADVFN site as well as the potential of new
products. For ADVFN, it creates a larger broader audience for it
cryptocurrency information platform and presents additional
potential revenue and business development prospects. On-line and
ADVFN are each bearing their own costs in respect of the
PlusOneCoin cryptocurrency cooperation project and there are
currently no financial arrangements between the two companies in
respect of this project. However, it is anticipated that On-line
will in due course charge publishers like ADVFN a license fee for
its software which supports the wallet, on terms to be agreed.
Michael Hodges of On-line said:
"We have progressed our road map to create a content
monitisation software platform on top of blockchain with the
integration of a cryptocurrency wallet for the ADVFN community.
Being able to work in an agile manner with a large established
community has provided an opportunity to create software solutions.
This underscores the potential of this and other projects."
Clem Chambers, CEO of ADVFN said:
"PlusOneCoin has been quickly accepted by the ADVFN community
during testing. With the integration of a PlusOneCoin wallet we now
have a platform to roll out new functionality and products to the
user base while giving ourselves, content creators and our users,
powerful tools and new channels of monitisation."
More information on On-line can be found at:
www.on-line.co.uk
For further information please contact:
On-Line PLC +44 (0) 207
Michael Hodges, CEO 070 0909
Beaumont Cornish Limited (Nominated
Adviser)
www.beaumontcornish.com
+44 (0) 207
Roland Cornish/Michael Cornish 628 3396
Glossary
"blockchain" is a distributed public digital ledger in which
transactions made in PlusOneCoin are recorded chronologically
"cryptocurrency" is a digital currency in which encryption
techniques are used to regulate the generation of units of currency
and verify the transfer of funds, operating independently of any
central bank
Further details on PlusOneCoin are publicly available at
www.plusonecoin.org
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
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