Gopher Protocol To License Digital Currency Technology To Genesis Blockchain Technologies
Gopher Protocol has announced a deal that it would license its radio generated virtual currency proprietary tech to the Genesis Blockchain for integration across all Genesis’ blockchain businesses. Gopher is a firm that specializes in creating AI and IoT enabled mobile apps, including a universal platform with both fixed and mobile solutions.
Meanwhile, Genesis runs a decentralized, regulated and fully compliant exchange platform. GBT is planning on incorporating Gopher’s virtual currency technology in its products, hence the reason for the license agreement.
The GBT founder and CEO, Pablo Gonzalez, stated that their goal was completely overhauling blockchain technology and transform it from the viewpoint of transaction confirmation into a better-decentralized communication infrastructure. GBT believes that this transformation will enable blockchain to increase its adoption in mainstream financial products, and also provide accountable data transfer, audit, and storage.
With the aim of completely reforming the blockchain sector, Pablo commented that GBT was eager to start incorporating Gopher’s tech into its systems and products. He added that the company was confident that the radio technology and secured algorithms of Gopher’s customized Digital Currency solution would enable GBT to set up a new form of a secure network with scalability and high performance. Through this agreement, GBT anticipates that their product offerings that use the new Gopher technology will enable a faster, more efficient and less costly method of storing and sending personal data and virtual assets across the blockchain.
Terms Of The Deal
The licensing deal is reportedly worth $300,000 along with an extra $5 million to be paid to Gopher through an ICO. Before the agreement was signed by the parties, GBT offered $200,000 as an advance payment to Gopher, which would apply towards the five-million-dollar payment when it was due. Also, Gopher will get 2% of the total revenue of all licensed products that GBT will sell under the licensing agreement for five years. Lastly, when GBT starts its ICO sale, Gopher will be given the opportunity to acquire 30% of the company at a 30% discount.
What Is Gopher Protocol?
Gopher Protocol Incorporated is an advanced development-level firm that considers itself as an IoT creator, producing AI and IoT enabled mobile tech solutions. The firm has an extensive portfolio that ranges from smart microchips to mobile app software with their native could apps. Gopher contemplates creating an international network where its high-tech microchip technology is installed across all mobile devices across the world. This new system will offer next-gen mobile features, shared processing and advanced database management across all enabled smart mobile devices.
The exclusive licensing agreement between Gopher Protocol and GBT will help to cement the place of both companies within the crypto sector world and also assist in increasing blockchain usage in smart mobile devices across the world.