Press Release

FOR IMMEDIATE RELEASE

Blockfreight, Inc. launches new initiative to bring first-of-its-kind Bitcoin financial-assets meta protocol Counterparty to Bitcoin Cash chain.

Leading blockchain logistics startup Blockfreight, Inc., announces new initiative to bring Counterparty protocol to Bitcoin Cash.

San Francisco, CA – Tuesday, 19 December, 2017

Blockfreight, Inc. [blockfreight.com] announced today an initiative to bring Bitcoin financial asset protocol Counterparty [counterparty.io] to the Bitcoin Cash network as part of its own product roadmap and use of the Counterparty protocol for its platform design.

Julian Smith, CEO of Blockfreight, Inc. speaking about the initiative today, outlined his motivation for the project “Counterparty provides us with a powerful extension to the Bitcoin protocol and it will be a valuable for us to have it (Counterparty) on the Bitcoin Cash network which is now the fastest growing implementation of Nakamoto consensus Peer-to-Peer Electronic Cash”

The project is calling on additional support from the developer and Counterparty user community to submit a joint draft-application to the Bitcoin Cash Fund at the end of this month and undertake implementation and testing work in Q1-2018.

“There is still some discussion to be held with stakeholders, including but not limited to Counterparty lead developers, the board of Counterparty Foundation, Asset Owners and XCP holders as to how this project can best align to their respective and mutual interests.” said Mr. Smith “In principle, we are committed to take these needs into account in determining how to best co-fund and maintain the implementation on Bitcoin Cash moving forward”

Initial discussions held in November with key stakeholders and active community members to include Bitcoin Cash support inside the main Counterparty project did not achieve overwhelming consensus, with some members expressing moderate support but some community members expressing strong opposition to any official support of the Bitcoin Cash chain by the Foundation either now or in the immediate project roadmap.

“Our goal here is not to alienate anyone or force a change in the Counterparty community that it is not ready for” stated Me. Smith “We want to mitigate harming or upsetting the Counterparty stakeholder community with this project. We simply see a better roadmap for scaling on the Bitcoin Cash network and feel that is in our best interests as a company to see more tools come into the Bitcoin Cash ecosystem.”

CALL FOR INVOLVEMENT:

Blockfreight, Inc. is asking all interested parties to reach out and help this initiative with an Expression of Interest (EOI) by way of Email to: julian.smith@blockfreight.com or a message on the Counterparty Slack channel [counterparty.slack.com] by direct message to @julian.smith

TIMELINE:

It is expected that the project will be completed in Q1-2018 with on-going support and development committed for 12 months, subject to renewal. A dedicated project mini-site will be completed in the coming weeks to promote the project and invite wider community support.

ABOUT BLOCKFREIGHT: Blockfreight, Inc. (a Delaware company) is an early-stage venture backed software startup building Blockfreight™ the blockchain of global freight. A shipping and logistics blockchain supporting 360,000,000 containers on network by 2020. An Open (MIT) Licensed, Borderless, Permission-less, Network for the Free-Trade of Physical Goods. Blockfreight™ is the most innovative and open platform for logistics in the world. Blockfreight, Inc. is a core team of 20+ partners, associates, developers, engineers and professional representatives at offices in San Francisco, Shanghai, Melbourne, Hong Kong and Tokyo. Blockfreight, Inc. is a founding member and Chair of the Blockfreight Association in Zug, Switzerland.

JULIAN SMITH
President, Founder & CEO
Blockfreight, Inc.
535 Mission St 14th floor

San Francisco CA 94105
+1 (415) 429-3924

julian.smith@blockfreight.com

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