Blue Star Capital plc Update on SatoshiPay (4783P)
31 August 2017 - 11:34PM
UK Regulatory
TIDMBLU
RNS Number : 4783P
Blue Star Capital plc
31 August 2017
Blue Star Capital plc
("Blue Star" or the "Company")
Update on SatoshiPay
Blue Star Capital plc (AIM: BLU), the investing company with a
focus on new technologies, is pleased to announce an update in
respect of SatoshiPay's proof of concept project with the IOTA
Foundation to explore replacing Bitcoin with an alternative
cryptocurrency, IOTA, as SatoshiPay's settlement network.
Further to the Company's announcement on 17 July 2017,
SatoshiPay has been working with the IOTA Foundation throughout
August and the technical elements of the project are now largely
complete. SatoshiPay and IOTA have successfully built a demo site
featuring the new payment backend based on the fee-free IOTA
network. The site supports initial funding of the SatoshiPay web
wallet with IOTAs, nanopayments for individual content items and
pay-outs to content publishers. As with the current SatoshiPay
solution, no extra software needs to be downloaded by the consumer
and there is no log-in. The consumer also retains control over
their funds, because their private keys approving fund transfers
are never shared with SatoshiPay.
The creation of the proof-of-concept website coincides with the
early release of IOTA's new Flash Network technology, which allows
instantaneous payments by creating a layer on top of the IOTA
ledger. SatoshiPay's demo features a fully browser-based
implementation of the Flash Network. SatoshiPay are working with
IOTA's core developers and exchange test feedback.
SatoshiPay is now focused on finessing the demo and securing
content from publishing partners for the public release of the
proof-of-concept website, which is expected to go live during
September.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014 ("MAR").
For further information, please contact:
Blue Star Capital
plc
Tony Fabrizi +44 (0) 777 178 2434
Cairn Financial Advisers
LLP +44 (0) 20 7213 0880
(Nominated Adviser)
Emma Earl/Jo Turner
Smaller Company Capital
Limited +44 (0) 203 651 2911
(Broker)
Rupert Williams/Jeremy
Woodgate
About Blue Star Capital Plc
Blue Star is an investing company with a focus on new
technologies. Blue Star's investments include a 31% holding in
SatoshiPay, a nanopayment software and blockchain company; a
holding in Disruptive Tech Limited, an investing company with five
investments including a 38% holding in VNU Group LLC ("VNU") a
speciality online direct retailer of premium goods paid for through
an instant credit facility and a holding in Nektan PL; and an
investment in Sthaler, an early stage identity and payments
technology business which enables a consumer to identify themselves
and pay using just their finger at retail points of sale.
About SatoshiPay Ltd
SatoshiPay is headquartered in London with development led
through its office in Berlin. Angel funding for SatoshiPay Ltd was
supplied by Axel Springer Plug & Play and Henning Peters. Seed
funding was raised through Jim Mellon, Huiyin Blockchain Venture
and Blue Star Capital. Development of SatoshiPay's nanopayment
product started in April 2015 and its beta version was released in
February 2016. Find updated information at the company's website
https://satoshipay.io, its blog https://medium.com/@SatoshiPay and
Twitter @SatoshiPay.
About IOTA Foundation
The IOTA Foundation is a non-profit foundation in Germany,
established with the purpose of developing, maintaining and
standardizing new open source protocols based on distributed ledger
technologies (DLT). The IOTA tangle provides a revolutionary open
source DLT which is scalable, lightweight and makes it possible to
transfer value or data without any fees. Find more information
about IOTA at http://iota.org or Twitter @iotatoken
This information is provided by RNS
The company news service from the London Stock Exchange
END
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