GD Entertainment and Technology (OTC: GDET) (“GDET” or the “Company”) is excited to announce that its subsidiary HyperDigital Technologies has finalized its initial purchase order with Genesis Coin to launch the company’s ATM division.
GDET ordered a “Satoshi 2” ATM unit which supports both cryptocurrency purchases and sales. The news follows an impressive rally in the cryptocurrency market with an increase over $7 billion in the market cap.
Company CEO Anil Idnani commented, “We are proud to start off the New Year with our initial ATM purchase as well as starting a long term and fruitful relationship with our supplier, Genesis Coin. We are one step closer to our vision of becoming a leader in blockchain, transactional-based services. Our team is working hard to integrate these units in strategical locations that will set us apart from our competition. I look forward to providing more exciting updates in the near term.”
At present, the Company is working to achieve the following near-term objectives:
- Locate pilot location for ATM launch
- Purchase additional ATM Units
- Creating an aggressive marketing/branding campaign for the ATM units
- Register with additional states through strategic locations
The state of the art ATM units feature some of the following specifications: a 14-inch LCD touch screen, counterfeit money/bill detector, QR barcode scanner, EMV card reader, HD web/security camera, electronic locking system, uninterruptible power supply (UPS), Ethernet/Wi-Fi capabilities, and a cash dispensing unit (CDU).
In addition to Bitcoin, currently the ATM units has the software to support other popular alternative cryptocurrencies or “altcoins” such as Litecoin, Ethereum, and Bitcoin Cash. This feature will allow users to explore and access additional currencies in the growing $140 billion cryptocurrency market.
According to bitcoinexchangeguide.com the Cryptocurrency ATM market is rising fast, averaging 6 new machines installed a daily basis. The total number of machines installed worldwide is estimated at 4155 in over 75 countries.
This growth in the market does not apply solely to the mainstream ATM operators as even larger institutions such as Bank of America have expressed interest in the space. According to investinblockchain.com, on December 26, 2018 the bank had filed a patent to develop blockchain-based ATMs targeting the handling of cash.
GDET shareholders can continue to expect frequent updates as the Company’s objectives proceed over the near term.
GD Entertainment & Technology, also known as GDET, is a result driven, blockchain-oriented company focused on becoming a premier Cryptocurrency mining facility. GDET will build and manage a Cryptocurrency mining colocation and mining facility that is client-focused and dedicated to creating a new standard in the Blockchain space based on security and transparency. GDET has also developed a strong relationship with suppliers overseas to ensure future purchasing.
Safe Harbor Provision Cautionary statement for purposes of the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995: Information in this news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of the Company and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks, uncertainties and assumptions include the execution and performance of contracts by the Company and its customers, suppliers and partners. Please also review GD Entertainment and Technology annual and quarterly financials for a more complete discussion of risk factors. The Company disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise. This communication shall not constitute an offer to sell or the solicitation of an offer to buy securities nor shall there be any sale of these securities in any state in which such solicitation or sale would be unlawful prior to registration or qualification of these securities under the laws of any such state