Btltm Provides Development Update ON Interbittm Megachain Platform (Version III)
BTLTM PROVIDES DEVELOPMENT UPDATE ON INTERBITTM
MEGACHAIN PLATFORM (VERSION III)
For Immediate Release
Canada / London, UK November 7, 2018
BTL GROUP LTD. (TSX Venture: BTL) (“BTL” or the “Company”) is pleased to provide an update
on its efforts to advance Interbit TM, the megachain technology platform it is building with the
objective of being able to run 1,000,000+ chains simultaneously, and supporting the complex
Enterprise level applications presented to the Company. BTL began development of the InterbitTM
platform three years ago to overcome the limitations of single blockchain platforms. Following the
release of Interbit TM (version II) in April 2018, the Company concluded from feedback that the
revenue possibilities and its competitive position would be enhanced if it significantly increased
the chain-joining and chain generation capacity of the platform. Since then, the Company has re-
architected the Interbit TM platform (version III) towards this unique megachain vision, which it
targets to complete in Q1 of 2019.
“To achieve megachain scale in this current post-blockchain era, the InterbitTM platform has been
crafted as a recursive function. The property of the underlying Interbit TM platform to be able to
execute in emulation mode, another running version of itself, is the purest test of completeness
that any software platform can aspire too. The fractal like nature of the platform allows a lightness,
speed, and a self-healing characteristic well beyond databases with cryptography, or even single
chain blockchains. The self-proving correctness of recursion is necessary for stable operation at
the megachain scale,” said Tom Thompson, CTO of the Company.
• In the previous two versions of the Interbit TM platform, chain-joining served to facilitate external
interaction, whereas in the latest iteration of the platform, chain-joining now characterizes all
interaction of internal and external exchanges of data. As the platform now contemplates
operating across fleets of computers at megachain levels of data exchange and shared
computation, consistent chain-joining across all data exchange points is required.
• The Company also advises that it is seeking to come to terms on a licensing and development
arrangement with Helix Applications Inc. (“ Helix”), a newly established application
development company. These arrangements target giving Helix access to the Interbit TM
platform and its unique capabilities until platform development is completed, which is expected
in Q1 of 2019.
• Further, the Company announces that it is in discussions to be a technology platform provider
to a potential joint venture that includes Helix and a significant technology party, which
proposes to launch a project global in reach and the InterbitTM platform’s megachain capacity
could be uniquely capable of a technical solution. The Company regards the joint venture
discussions to be advanced and expects discussions to be successfully completed.
• On September 20, 2018 the Company announced the filing of a sixth patent application for
the InterbitTM platform - the “Hyperconvergence Application”. The Company commenced filing
TM
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patent applications for the platform in October of 2017 (see the Company’s October 17, 2017
press release) and accordingly has recently filed International applications for those patents.
• Using the technical knowledge from this sixth patent application and the lightness afforded by
the InterbitTM platform’s recursive design, we expect to able to increase the concurrency and
elasticity of InterbitTM platform solutions, thereby achieving megachain scale on the platform.
• In addition a clear endpoint for development of the Interbit TM platform has been set – when it
can run a megachain scale demonstration, fully emulated inside of another megachain
solution, and the system correctness is self-proving, the platform will be ready for external
auditing for production deployments.
The Company will issue additional press releases should it come to definitive terms on the
licensing and development arrangement with Helix and should it finalize terms for its involvement
in the above mentioned joint venture.
ABOUT BTLTM AND INTERBITTM
Listed on the TSX Venture Exchange (TSX Venture: BTL) and operating from both Canada and
the UK with offices in Vancouver, Calgary and London, BTL is a technology platform provider that
owns the InterbitTM platform, a 3 rd generation blockchain platform which enables business appli-
cations to be built quickly, easily and securely.
The InterbitTM platform can be licensed by developers and businesses who can build and share
their own applications in a trusted ecosystem, allowing them to embrace new revenue generating
opportunities. InterbitTM meets the speed, scale and privacy that older generations of blockchain
technology cannot achieve by using its chain joining technology to connect multiple blockchains.
It offers a simpler, more secure, new way of computing.
Website: www.btl.co & www.interbit.io
Twitter: https://twitter.com/blockchainltd & https://twitter.com/interbit
Videos: https://youtu.be/YFOH0YEHLak & https://youtu.be/eWI-0AXaZgc
For further information please contact:
Dominic McCann, CEO
Phone: +1 855 256 5246
Email: [email protected]
Certain statements in this release are forward-looking statements, which include further
development of BTL’s business relationships and business and the timing, development. launch
and success of BTL’s technologies and products (including, without limitation, successful
development of the Interbit platform such that it can support 1,000,000+ blockchains running
simultaneously), approval of the patent applications filed by BTL and the patents granted in
connection therewith, coming to definitive terms with Helix on a licensing and development
arrangement, finalizing terms for involvement in the mentioned joint venture, and other matters.
Forward-looking statements consist of statements that are not purely historical, including any
statements regarding beliefs, plans, expectations or intentions regarding the future. Such
information can generally be identified by the use of forwarding-looking wording such as “may”,
“expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or
similar variations. Readers are cautioned not to place undue reliance on forward-looking
statements, as there can be no assurance that the plans, intentions or expectations upon which
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they are based will occur. By their nature, forward-looking statements involve numerous
assumptions, known and unknown risks and uncertainties, both general and specific, that
contribute to the possibility that the predictions, estimates, forecasts, projections and other
forward-looking statements will not occur. These assumptions, risks and uncertainties include,
among other things, the state of the economy in general and capital markets in particular, the
development of competitive technologies, the marketplace acceptance of BTL’s technologies and
products, as well as those risk factors discussed or referred to in BTL's annual Management's
Discussion and Analysis for the year ended December 31, 2017 available at www.sedar.com,
many of which are beyond the control of BTL. Forward-looking statements contained in this press
release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this
press release. Except as required by law, BTL disclaims any intention and assumes no obligation
to update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise. Additionally, BTL undertakes no obligation to comment on the expectations
of, or statements made by, third parties in respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.