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Geopulse Exploration Announces "DOKT," Dollar-backed Stablecoin, as Basis of Cannco Financial Ecosystem for Cannabis Companies
Geopulse Exploration Announces "DOKT," Dollar-backed Stablecoin, as Basis of Cannco Financial Ecosystem for Cannabis Companies.
About this update from Geopulse Exploration, Inc.
[{"type":"text","content":"\n Now approved to accept cash deposits represented by DOKT tokensCoin serves as means of exchange for cannabis products and services between industry suppliers and purchasersPartnering custodial trust has created the process to issue, transfer and manage tokens that underpin Cannco financial ecosystemSeparate Canncoin security token allocated to recent investors will be issued upon registration of security token with SECToken allocation notifications have been delivered to participants in 2018 crowd funded offering Los Angeles, CA, Dec. 11, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Geopulse Exploration, Inc. (dba Cannco Brands and Development) (OTCMKTS: GPLS), a blockchain-powered logistics, financial services and promotion solutions development company for the under-serviced cannabis sector, today announced completion of approvals and establishment of a dollar-backed stablecoin, which will form the basis of the Cannco merchant services and financial platform. As previously disclosed, the Company has entered into an agreement with a custodial trust that has completed the infrastructure required to issue, manage, and track the cryptocurrency that will represent the merchant transactions that occur using Cannco financial services. DOKT tokens are distinguished from Canncoin security tokens that will be registered with the SEC and issued to Cannco investors from prior and current offerings representing proportional ownership in the company and entitlement to economic participation in Cannco profit. All investors have received notification of their specific Canncoin allocation. When a Cannco participating merchant conducts a transaction on the platform, tokens will be minted and placed into the account by the custodial trust and will serve as a dollar-backed, digital representation of cash in the depositor’s account.  The cash may be retrieved through “cashing out” via a wire to the account holder from the trustee or may be used for additional purchases of products or services from other platform users. “We’ve been working closely with our custodial trust partners developing the framework of the process and cryptocurrency core of the platform,” commented Marcus Laun, Geopulse Exploration CEO. “Achievement of the ability to accept deposits and process transactions is a mile...