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Global Blockchain Mining says Nuvo Cash Ltd blockchain network crowdsale set for March 1

The blockchain-based network will underlie social media communities including Jamaa Online, its flagship, Africa-focused network

An illustration symbolizing blockchain
The cryptocurrency company was retained to develop a blockchain-based network

Global Blockchain Mining Corp (CSE:FORK) said Tuesday that the crowdsale for the Nuvo token will begin March 1, with its bounty campaign starting February 18.

As announced in December, the cryptocurrency company was retained by UK-based Nuvo Cash Ltd to provide technical and advisory services for the development of the Nuvo Cash blockchain-based network. It will be the underlying network for social media communities including Nuvo Cash's flagship, Africa-focused network, Jamaa Online.

Global Blockchain said in a statement Tuesday that a memorandum of understanding provides for the administration and promotion of the Nuvo token crowdsale.

READ: Global Blockchain Mining cites significant interest in AMR crypto asset crowdsale

Under the Nuvo Cash blockchain, the order of postings in a user's news feed will be determined by a community-based voting process as opposed to an ad-based algorithm, according to Global Blockchain Mining. Users will be paid Nuvo tokens in exchange for their participation, which includes posting, sharing and voting or commenting on content.

Nuvo Cash is also developing networks for the Philippines, Southeast Asia and India, according to Global Blockchain Mining.

Global Blockchain Mining fetched C$0.005 in Monday’s Canadian trading.

Last month, the company said the AMR crypto asset crowdsale for Singapore-based Ammbr Foundation Pte Ltd had attracted significant interest.

Contact Dennis Fitzgerald at [email protected]

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