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Sunday, April 18, 2021

FinTech platforms for Digital Currencies; the Story of Currencyworks Inc (OTCMKTS: CWRK) (TSX: CWRK)

Currencyworks Inc (OTCMKTS: CWRK) (TSX: CWRK) is making a powerful move up the charts in recent days as cryptocurrency heats up across the board and BTC looks to take out all-time highs. CWRK is getting noticed as the Company continues to make big moves including its recent partnership with Eastman Kodak, creating KODAKOne, a blockchain platform for image rights management.

CWRK was recently selected to create a solution that will change the art market by applying forensic and blockchain technology to prevent art forgeries and fakes by FACT (Forensic Art Certification Technology). Under the terms of the agreement the minimum contract value is US$500,000.00 and up to US$2M. This also includes possible multi-year operational support.

Currencyworks Inc (OTCMKTS: CWRK) (TSX: CWRK) is a publicly-traded company that builds and operates FinTech platforms for Digital Currencies, Security Tokens and Digital Assets that reduce costs, increase transactions plus liquidity and drive user engagement. CurrencyWorks™ is redefining the transaction value chain for customer attraction, engagement and retention for brands by increasing transactions through the creation and implementation of their own digital currency.

CurrencyWorks™ helped launch Bitrail, a blockchain payment platform that provides frictionless use of regulated corporate currencies, benefiting both consumers and the eCommerce brands they love. BitRail will provide low-cost and transparent transaction services for corporate currencies seeking to be fully compliant in the US with FINRA, Fin CEN, and state and federal securities regulations. BitRail is completing a ACH integration, money transmitter licensing, and AML/KYC compliant transactions platform for Q1 2019.

CurrencyWorks™ partners with established brands who have large customer bases, follower bases or online communities. Currency Works is a vendor or can do joint ventures to launch and develop branded corporate digital currencies to solve real world problems and create more transactions. FACT collects topographic data via contactless and nondestructive interferometry, a scanning method designed to measure the surface of 3D structures with pinpoint accuracy. Interferometers merge two or more sources of light to collect patterns – in this case, the depth and detail of an original piece of artwork – collecting millions of points on a physical object and then mapping that object on screen for an up-close visualization.

In partnership with Eastman Kodak, CurrencyWorks™ is a cofounder of KODAKOne, a blockchain platform for image rights management. KODAKOne uses their own branded KODAKCoin corporate currency to power a blockchain-based licensing platform and marketplace for photographers that tracks usage, gives creators more control over licensing, and enforces copyright.

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FreedomCoin is a regulated cryptocurrency powered by BitRail for merchants that puts the power of payments back into the consumer’s hands. Meant to be used for inexpensive, instant, and secure payments and money transfers, FreedomCoin allows consumers — for the first time — to have access to a cryptocurrency for common transactions with impressive ease-of-use. sBetOne is developing celebrity-endorsed branded digital currencies, digital wallets and blockchain payment platforms for the regulated US sports betting market. sBetOne’s initial focus will be on celebrity-sponsored golf sports betting and eSports betting properties, making sports betting more socially entertaining for fans and the celebrities / brands they follow.

On November 17 CWRK announced being selected to create a solution that will change the art market by applying forensic and blockchain technology to prevent art forgeries and fakes. FACT (Forensic Art Certification Technology) is a forensic analysis tool utilizing interferometer technology and the blockchain to create an immutable record of ownership, and verification that the piece of artwork received is the artwork originally scanned. The interferometer can capture images with incredible precision allowing the FACT system to accurately verify that an image scanned is the same as the image received.

By applying forensic technology and innovative thinking to the issue of art crime CurrencyWorks was selected to develop a patent pending all-in-one solution for Authenticity Verification, Condition Reporting and Collection Management. Leveraging technological advancements in Interferometry, Automation, and Blockchain Technology, FACT offers a truly secure object-oriented approach to one of this centuries’ oldest issues. Under the terms of the agreement the minimum contract value is US$500,000.00 and up to US$2M. This also includes possible multi-year operational support.

Bruce Elliott, CurrencyWorks President stated: “Every year, US$6B Black Market for Art that the FBI estimates worth of art is sold around the world – and an estimated 20% of them are forgeries. FACT uses forensic science to validate the authenticity of original works to sniff out fraud and put an end to the US$6B art forgery market.  Art crime is estimated to be the 3rd highest grossing crime after money laundering and terrorist activities; however, only a fraction of the resources are dedicated to stopping it relative to other crimes.”

 

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Currently making a powerful move up the charts CWRK is an exciting story developing in small caps; CWRK is getting noticed as the Company continues to make big moves including its recent partnership with Eastman Kodak, creating KODAKOne, a blockchain platform for image rights management. CWRK was recently selected to create a solution that will change the art market by applying forensic and blockchain technology to prevent art forgeries and fakes by FACT (Forensic Art Certification Technology). Under the terms of the agreement the minimum contract value is US$500,000.00 and up to US$2M. This also includes possible multi-year operational support. We will be updating on CWRK when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with CWRK.

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Disclosure: we hold no position in CWRK either long or short and we have not been compensated for this article.

Ali Raza
A journalist, with experience in web journalism and marketing. Ali holds a master degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.

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