Cascadia Announced Major Breakthrough In Blockchiain Industy

Canada has achieved yet another world’s first title in the Blockchain industry with the world’s first private placement entirely in Bitcoin

Vancouver, Canada - January 13, 2018 /PressReleaseAgency/ —

In addition to having the titles of the world’s first Bitcoin ATM and the world’s first reversed take-over transaction in the blockchain industry, Canada has once again secured its leadership with yet another world’s first title in the blockchain industry.  This time the historical milestone was made by Cascadia Consumer Electronics Corp. Cascadia, a Canadian publicly listed company in transition to the blockchain and fintech sectors.  Cascadia announced the completion of 425 bitcoin private placement, valued at US$ 6.12 million or C$7.71 million in total, on December 29, 2017, just one short week after its initial announcement of such plan.

“The lightning speed of execution is in-line with the pace of development in the blockchain industry. This historical milestone was made possible by a team of our internal staff and external advisors who have shown their dedication and capabilities to address various regulatory, legal and technical hurdles. This also showcases the high level of enthusiasm and support from the industry investors. Cascadia will be able to accelerate our transition and expansion into the blockchain and fintech sectors, pending approval from CSE on our proposed business change.” said Rachel Wang, Chief Executive Officer of Cascadia in the company’s press release announcing the completion of the private placement. According to Cascadia’s public filing, several well-known Asian institutional investors specialized in the blockchain and cryptocurrency sectors, such as FBG Capital, BitCapital, ChainFunder, Qtum, Nebulas, aelf participated in this round of Cascadia’s private placement.

In recent years, many new start-ups are using ICOs (or “Initial Coin Offerings”) to raise the necessary capital.  However, cryptocurrencies seem not very commonly used or accepted in the traditional capital market.  The Cascadia’s financing round entirely on cryptocurrencies is really the first time where there is a cross-over between the new fintech sector and the traditional capital market, proving that these two are not necessarily mutually exclusive from each other.

Cryptocurrencies is considered as a new form of digitalized representation on values of a project, a business, an asset or individual’s and institution’s wealth. This cross-over will have significant impact on the traditional capital market because the completion of a financing round entirely with cryptocurrencies by a publicly listed company will attract many others to follow. This will not only increase the additional investment and funding sources for publicly listed companies under the traditional capital market, but also widely broaden the investment opportunities available to cryptocurrency holders.  It is not difficult to imagine that this is just the beginning of a new era and in the foreseeable future, it is likely to see more innovative and creative transaction structure involving both the traditional capital market and the new fintech sector.

Contact Info:
Name: Garry Wong
Organization: Cascadia Consumer Electronics Corp

For more information, please visit http://www.globalnewsonline.info/canada-has-achieved-yet-another-worlds-first-title-in-the-blockchain-industry-with-the-worlds-first-private-placement-entirely-in-bitcoin/

Source: PressReleaseAgency

Release ID: 286681

More News From Daily World Web

China blasts new US tariff threat, warns it will retaliate

Jun 19, 2018

BEIJING — China on Tuesday threatened "comprehensive measures" in response to U.S. President Donald Trump's new tariff hike, raising the possibility Beijing might target operations of American companies. Trump's announcement fueled fears that economic losses, limited so far to companies hit by U.S. or Chinese tariff hikes, might spread if the dispute chills global trade. Global stocks fell after Trump's announcement. China's market benchmark dropped 3.8 percent while Hong Kong's lost 2.8 percent. In Europe, Germany's main index was off 1.3 percent and France's lost 1.1 percent. The Commerce Ministry criticized Trump's order for new tariffs on $200 billion of...

The Latest: Kim Jong Un meets with China's president

Jun 19, 2018

BEIJING — The Latest developments in North Korean leader Kim Jong Un's visit to China (all times local): 7:30 p.m. Chinese President Xi Jinping has told North Korean leader Kim Jong Un that he hopes Pyongyang and Washington can fully implement the outcomes of last week's nuclear summit. State broadcaster CCTV said Xi told Kim that through the "concerted efforts of the relevant countries" negotiations regarding issues on the Korean Peninsula are back on track and the overall situation is moving in the direction of peace and stability. The summit between Kim and U.S. President Donald Trump in Singapore marked...

Global stocks tumble after new Trump tariff threat

Jun 19, 2018

BEIJING — Global stock markets fell Tuesday after U.S. President Donald Trump escalated a dispute with China over technology policy by threatening a tariff hike on an additional $200 billion of Chinese goods. KEEPING SCORE: Germany's DAX was down a sharp 1.3 percent to 12,673 and France's CAC 40 fell 1.1 percent to 5,394. London's FTSE 100 lost 0.4 percent to 7,598. Wall Street looked poised for heavy losses, with the future for the Dow Jones industrial average off 1.3 percent and that for the Standard & Poor's 500 index down 1.1 percent. ASIA'S DAY: The losses were even heavier...

Asian stocks tumble after new Trump tariff threat

Jun 19, 2018

BEIJING — Asian stocks tumbled Tuesday after U.S. President Donald Trump escalated a dispute with Beijing over technology policy by threatening a tariff hike on additional Chinese goods. KEEPING SCORE: The Shanghai Composite Index fell 2.3 percent to 2,953.54 points and Hong Kong's Hang Seng lost 2 percent to 29,685.28. Tokyo's Nikkei 225 retreated 0.9 percent to 22,482.89 and Seoul's Kospi lost 0.8 percent to 2,356.57. Markets in Taiwan, New Zealand and Southeast Asia also declined. Sydney's S&P-ASX 200 gained 0.3 percent to 6,123.00. TRADE TENSIONS: Trump directed the U.S. Trade Representative to prepare new tariffs on $200 billion in...

China hikes tariffs on US soybeans, electric cars, fish

Jun 19, 2018

BEIJING — China fired back Saturday in a spiraling trade dispute with President Donald Trump by raising import duties on a $34 billion list of American goods including soybeans, electric cars and whiskey. The government said it was responding in "equal scale" to Trump's tariff hike on Chinese goods in a conflict over Beijing's trade surplus and technology policy that companies worry could quickly escalate and chill global economic growth. China "doesn't want a trade war" but has to "fight back strongly," said a Commerce Ministry statement. It said Beijing also was scrapping agreements to narrow its multibillion-dollar trade surplus...

About Us

Daily World Web took the initiative to utilize the development in cloud and AI technology to create a free, instantaneous and borderless flow of news, the way it should be.

Contact us: sales[at]dailyworldweb.com

Subscribe Now!