Global Blockchain Mining Corp (CSE:FORK) (OTCMKTS:GBCHF) announced Wednesday that it is changing its name to Metaverse Capital Corp.
The word Metaverse refers to the digital universe, which is what the blockchain ecosystem is becoming, according to the Vancouver company. When the name change is made formal, a statement will be issued.
In other news, the blockchain company said operations of its "pooling" platform for pooled masternode funding and blockchain network staking are now underway with capital contributed from customers. On top of this, the company is currently operating nodes on the Dash and Loki blockchain networks and plans to participate on several other networks as well.
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This new diversified approach comes in response to improved conditions of the crypto asset markets, underscored by the reduced dominance of Bitcoin.
"The crypto asset markets have improved very favourably in 2019, and this foreshadows a good future for FORK and its shareholders" said CEO Shidan Gouran in a statement. "While our focus was once on Bitcoin, we were able to use our market intel to determine what are the most productive blockchain networks to focus on, which led us to our revised model in which we are currently seeing results."
As of this week, the crypto asset market had total capitalization of about US$180 billion, with 24-hour trading volume of about US$53 billion. These figures compare favorably to the start of the year when total capitalization came in at about US$126 billion, with 24-hour trading volume of about US$13 billion.
Thanks to such statistics which appear to favor crypto assets besides Bitcoin, the company is pursuing a direction that focuses on the Dash and Loki blockchain networks.
And its pooling platform consists of stakes in 2 Dash Masternodes (required operating collateral: 1,000 DASH coins) and 8 Loki Service Nodes (operating collateral of 27,000 LOKI coins).
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Going forward, in addition to Dash and Loki, the company is also operating or plans to run on Stellar, a payments network and decentralized exchange, as well as KODAKOne, a blockchain-based image rights management platform developed by WENN Digital with guidance from the photography company Eastman Kodak that uses KODAKCoin as its digital currency.
In other advances, the company sees strong potential in running nodes on the Bitcoin Lightning network, which expedites and scales Bitcoin transactions.
Other networks in its sights include Ammbr, a wireless mesh network management platform which acts as a decentralized internet service provider as well as Elixxir, a decentralized and private communications network led by David Chaum, who is considered one of the fathers of cryptocurrencies.acts as a decentralized Internet service provider (ISP).
The Elixxir networks remains in development and the company aims to be one of the first service node operators on the network when it launches.
Also on the company’s agenda are Nuvo, a blockchain for social media networks, and Stratus, which was first developed as a standalone blockchain network for automated buying and selling of computing resources. The network is being modified to act as a layer-two marketplace that will operate on top of the Filecoin, Storj and Sia blockchain networks.
Originally founded with a focus on crypto-mining, the Vancouver company has diversified its offerings by developing and administering launches of tokens and digital assets. It’s also now using its computing power to provide the operation of masternodes and servicenodes.
Contact Ellen Kelleher at [email protected]