Business
Leonovus Announces Plans for an Initial Coin Offering
Leonovus Announces Plans for an Initial Coin Offering Canada NewsWire OTTAWA, De...
About this update from Leonovus Inc.
[{"type":"text","content":"\n\n\n\nLeonovus Announces Plans for an Initial Coin Offering\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nOTTAWA, Dec. 21, 2017\n\n\n\nOTTAWA, Dec. 21, 2017 /CNW/ - Leonovus Inc. (\"Leonovus\") (TSXV: LTV) today announced its plans for an initial coin offering (\"ICO\") in the summer of 2018 to support the launch of an advanced blockchain storage and compute solution with a marketplace for cloud applications. \n\nLeonovus has invested over twenty million dollars in the development of distributed compute and distributed storage technology. With several granted patents, numerous patent claims and patents pending, the company's unique software-defined storage (\"SDS\") solution has strong intellectual property protection. The company is currently planning to hire specialized blockchain software development teams in both Ottawa and Toronto. \n\nUnknown to many, Leonovus is not new to the blockchain world. Indeed, Leonovus was one of the first companies to marry Internet of Things (\"IoT\") technology and blockchain. In August 2014, the company mined the cryptocurrency Litecoin from low-end distributed smart devices - digital light bulbs! \n\nIn that same year, Leonovus demonstrated a production deployment of a managed, loosely-coupled, blockchain computation pool built from available idle compute resources in hotels. Our patented, Web Integrated Services Environment (\"WISE\") Network, managed a compute pool that supported both public and private blockchain computation on thousands of low/no-cost computing cores across both the USA and Canada with only a few clicks of a mouse from a browser-based dashboard.\n\n\"Our vision is simple. Imagine a world where any device with connectivity, a processor, and some storage becomes part of a globally distributed computing platform - a global blockchain-based apps marketplace. Every consumer or business in the world could become a Leonovus blockchain farmer\", said Michael Gaffney, CEO, Leonovus Inc. \n\n\"Our research indicates that our core distributed storage and distributed compute technology is sig...