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

Latest News

Shanghai airport automates check-in with facial recognition

Oct 18, 2018

SHANGHAI — It's now possible to check in automatically at Shanghai's Hongqiao airport using facial recognition technology, part of an ambitious rollout of facial recognition systems in China that has raised privacy concerns as Beijing pushes to become a global leader in the field. Shanghai Hongqiao International Airport unveiled self-service kiosks for flight and baggage check-in, security clearance and boarding powered by facial recognition technology, according to the Civil Aviation Administration of China. Similar efforts are underway at airports in Beijing and Nanyang city, in central China's Henan province. Many airports in China already use facial recognition to help speed...

China says interning Muslims brings them into 'modern' world

Oct 18, 2018

BEIJING — China on Tuesday characterized its mass internment of Muslims as a push to bring into the "modern, civilized" world a destitute people who are easily led astray — a depiction that analysts said bore troubling colonial overtones. The report is the ruling Communist Party's latest effort to defend its extrajudicial detention of Central Asian Muslim minorities against mounting criticism. China's resistance to Western pressure over the camps highlights its growing confidence under President Xi Jinping, who has offered Beijing's authoritarian system as a model for other countries. About 1 million Uighurs, Kazakhs and other minorities have been arbitrarily...

Federer, del Potro, Zverev all win at Shanghai Masters

Oct 18, 2018

SHANGHAI — Roger Federer had to overcome a second-set stutter. Juan Martin del Potro and Alexander Zverev had to overcome illness. All three still advanced at the Shanghai Masters on Wednesday. Federer, the defending champion, beat Daniil Medvedev 6-4, 4-6, 6-4 in the second round despite being broken late in the second set. "I was able to mix it up. Really also took some chances, serve and volley, second serve," the top-seeded Federer said. "In the third set I really started to figure it out, as well, how aggressive or how tactical I wanted to make the match. And by...

US lawmakers call on Trump to help detained Chinese Muslims

Oct 18, 2018

BEIJING — A bipartisan group of U.S. lawmakers wants President Donald Trump to help Muslims respond to a sweeping crackdown in China's northwest. The group proposed legislation on Wednesday that would urge Trump to condemn "gross violations" of human rights in the Xinjiang region, where the U.N. estimates that as many as 1 million Uighurs and other predominantly Muslim minorities are being held in arbitrary detention. It would call on Trump to press his Chinese counterpart, Xi Jinping, to close the "political re-education camps" immediately. The legislation, proposed by the Congressional-Executive Commission on China, would also support an existing push...

Indonesian officials fear 5,000 missing as Christians pray

Oct 18, 2018

PALU, Indonesia — Christians dressed in their tidiest clothes flocked to Sunday sermons in the earthquake and tsunami damaged Indonesian city of Palu, seeking answers as the death toll from the twin disasters breached 1,700 and officials said they feared more than 5,000 others could be missing. Indonesia's disaster agency said the number of dead had climbed to 1,763, mostly in Palu. Agency spokesman Sutopo Purwo Nugroho said many more people could be buried, especially in the Palu neighborhoods of Petobo and Balaroa, where more than 3,000 homes were damaged or sucked into deep mud when the Sept. 28 quake...

Search for something?

Sign up now!