DALLAS, June 15, 2017 /PRNewswire/ --
Ciao Group, Inc. (USOTC: CIAU) today announced the Blockchain Frontier Markets Project. The Company recently announced the launch of its Cryptographic Enterprise Division lead by Henryk Dabrowski coming to Ciao from Alternet Systems, Inc. (USOTC: ALYI) where he led the development and subsequent sale of Utiba Americas, a mobile financial remittance solution. Mr. Dabrowski has been working with Aubrey Brown, CEO of Ciao, over the last year on the Blockchain Frontier Markets Project.
Blockchain Frontier Markets Project Mission
"Frontier economies around the world lack access to most of the financial products routinely available to consumers, businesses and governments within developed economic regions," explained Aubrey Brown, CEO of Ciao Group. "Mortgage loans, credit cards, business insurance, working capital loans and government bonds are some of the basic financial tools for building any economy. But such financial products are found to be in short supply when it comes to Frontier economies. The objective of our Blockchain Frontier Markets Project is to build a transaction platform with a distributed ledger populated with permanent and secured records for every transaction. An evaluation of commercially available Blockchain technologies is well underway. With a standardized and trusted transaction platform, Frontier markets around the world can have access to the existing financial products already available within Developed economies."
Frontier Market Cryptocurrency - A Bitcoin Paradigm For Frontier Financial Markets
To empower the market opportunity for existing financial products from Developed economic regions to be made available to consumers, businesses and governments within Frontier economic regions, Ciao's Blockchain Frontier Markets Project will include the introduction of a Frontier Market Cryptocurrency (FMC). Ciao will develop the opportunity for FMC to be accepted as a currency for financial products from Developed economic regions that are deployed within Frontier regions.
$530 Billion Initial Target, IBM, Hyperledger and The DTCC
Access to investment capital is the basic building block of any economy. Improving the technological feasibility of Frontier market public exchanges to support increased liquidity could dramatically improve access to investment capital.The African continent has $530 billion in public market capitalization across multiple national exchanges separate from the nearly $1 trillion in public market capitalization within South Africa alone.IBM (NYSE: IBM) announced a Blockchain project earlier this year with the Depository Trust and Clearing Corporation (DTCC) based on the Linux hosted Hyperledger Open Source Technology. Ciao Group management team has spent considerable time on the African continent over the past year developing the opportunity to connect the $530 billion in public market capitalization seamlessly with trading platforms in the United States as an extension of the DTCC's move toward Blockchain enable clearing. African public stocks from multiple African countries traded in a single Cryptocurrency on US trading platforms cleared through DTCC accepted Blockchain transactions could monumentally increase the liquidity of investments in African public companies, and give the average individual US investor new access to the extraordinary growth opportunities only found within Frontier markets.
Ciao Group's Refreshed Business Plan And Name Change To NuMelo Technology
Ciao Group recently announced a refreshed business plan to concentrate on developing locally sourced technology and telecommunication services within frontier and emerging economic markets. The Company is in the process of changing its name to NuMelo Technology as part of the business plan refresh.
Learn more about Ciao Group / NuMelo Technology on the Company's website and check back frequently to keep up with the Company's progress to include two acquisitions anticipated soon.
About NuMelo Technology, Inc:
NuMelo Technolgy is dedicated to discovering and developing innovative technology within the world's emerging and frontier markets. NuMelo brings the experience and resources to identify communication technology innovators within the worlds emerging and frontier markets and develop with them marketing and capitalization strategies to overcome the hurdles identified by the World Bank currently hindering the proliferation of emerging and frontier telecommunication services to achieve the corresponding alpha return potential.
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
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SOURCE Ciao Group, Inc.