VANCOUVER, BC, CANADA (April 5, 2018) – 360 Blockchain Inc. (“360” or the “Company”) (CSE: CODE - FWB: C5B) is pleased to announce it has closed its previously announced acquisition of the media directory and website Pressland (http://press.land) from Chaotic Neutral LLC. Under the direction of 360’s Strategic Advisor, Jeff Koyen, Pressland will relaunch as a blockchain-powered enterprise platform dedicated to fighting fake news.
“Before ‘fake news’ was a household term, Pressland was already in the business of media transparency,” said George Tsafalas, 360’s President. “Today, thanks to the innovative power of blockchain technology — and utilizing 360’s expertise and resources — we have the unique opportunity to expand Pressland’s original mission to that of rebuilding trust in media on an enterprise level.”
Described as “Yelp for Media” when launched in 2015, Pressland at its peak offered a crowd-sourced directory of more than 20,000 media outlets and professionals. Following the relaunch in 2018, Pressland will build the world’s most comprehensive media directory — using blockchain technology to ensure accuracy, trust and transparency — and offer this data to the public, non-profits and commercial developers.
“Pressland is already a fundamentally good idea that’s been popular with media professionals,” said Jeff Koyen. “But now that blockchain technology is more accessible and market-proven, it’s an exciting time to re-envision Pressland as a global platform that sits as the cornerstone in the fight against fake news.”
Pressland’s unique technology leverages human intelligence via paid microtasking; network analysis of the macro media ecosystem; and automated data collection in the form of scripts and other programmatic tech. The result is the world’s first dynamic, comprehensive media list that reliably and accurately answers the question, “Who’s behind the news?”
Planned revenue streams include:
Pressland plans to issue its own transactional currency in the form of a blockchain-based cryptographic token; 360 will hold a portion of this currency in reserve. Access to Pressland’s data via web portal and mobile apps will be free for the general public.
“By providing definitive, trustworthy data intelligence, Pressland will meet a great and pressing demand from media companies and social media platforms,” added Jeff Koyen. “We see significant growth opportunities in international markets, as well.”
Terms of the acquisition of 100% of Pressland included the issue of 2 million shares of 360 at a deemed price of $0.075 and providing $250,000 in initial working capital.
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