SOURCE: Streetwise Reports

Streetwise Reports

October 23, 2017 16:30 ET

Streetwise Reports Examines Riot Blockchain's Acquisition of TESS

SAN FRANCISCO, CA--(Marketwired - October 23, 2017) - Riot Blockchain Inc. (NASDAQ: RIOT) announced that it is acquiring a 52% ownership interest in TESS Inc., a company that is developing a blockchain-based payment system for wholesale telecom carriers.

Company included in article: Riot Blockchain

According to Riot Blockchain, "TESS is a technology company whose current business is focused on developing a guaranteed payment system using a blockchain-based escrow service for wholesale telecom carriers. Immutable blockchain terms and protocols guarantee payment and provide an alternative to the traditionally written legal agreements where it is difficult to assess financial risk profiles. The TESS platform will provide a flexible and transparent ledger that is recorded securely on a blockchain."

Michael Beeghley, CEO of Riot Blockchain, said, "Riot Blockchain is committed to building the blockchain ecosystem. The telecom payment platform of TESS is a prime example of how blockchain-based technologies can be leveraged to disrupt established industries. I believe that Riot Blockchain is poised to take advantage of this revolution in digital transactions as we see increasing adoption of blockchain protocols in our everyday lives."

Continue reading this article: NASDAQ-Listed Blockchain Company Acquires TESS

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The full disclosure is provided at the end of the published article: NASDAQ-Listed Blockchain Company Acquires TESS

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