FORT LEE, N.J., Aug. 27, 2018 (GLOBE NEWSWIRE) -- GD Entertainment And Technology (GDET) (“GDET” or the “Company”), a leader in cryptocurrency mining and mining colocation services, is excited to announce its acquisition of DreamCard, LLC (“DreamCard”). The move represents the first step along a new path, as the Company expands into the cryptocurrency-backed “white-label” credit and debit card market.
Management notes that the integration of DreamCard into the Company’s operations and strategic vision has already begun and will incorporate GDET’s expertise in the crypto and blockchain space with DreamCard’s passion for a strong intersection between form and function.
GDET, with its new team-members on board, plans to build and launch a crypto-backed, RFID-protected, personalizable metal payment card by Q1 2019 that is capable of making purchases at everyday merchants just like a standard bank-issued debit and credit card.
DreamCard CEO, Maximillian Hellerstein, commented, “We built DreamCard with the intention of elevating the relationship between an individual and his or her charge cards. Originally, our focus was purely on stylistic personalization and material upgrading (plastic to metal) of the card itself. While developing this technology and launching the consumer facing product, DreamCard, we began to experiment with the ability to create other uses for everyday cards, including experimentation with traditional cards that carried the expanded functionality to double as cryptocurrency “cold-storage wallet” debit cards. Almost immediately, we saw huge potential ahead, but we were wading into unfamiliar waters and needed a partner with expertise in crypto and blockchain. Eventually, we came into contact with Anil and his team at GDET, who shared our vision. And things moved quickly from there.”
Mr. Hellerstein will continue to be involved throughout the transition period and will serve on the GDET Advisory Board going forward.
GDET CEO, Anil Idnani, added, “We are thrilled to have the DreamCard team under our roof and firmly on board as part of our growing family. It’s not surprising that the management-level integration process has been so seamless. Once we all got around a table, this was a no-brainer and everyone could see it. We all share the same vision on a very deep level. Blockchain is tomorrow’s future and we plan on being industry leaders on all fronts.”
Management encourages shareholders to visit dreamcard.cc to explore the current platform and product line, and to expect exciting new updates very soon.
About GDET
GD Entertainment & Technology, also known as GDET, is a results-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.
Contact:
GD Entertainment and Technology
732-851-3756
anil@gdet.co
www.gdet.co
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