PLANET VENTURES INC. ACQUIRES STAKE IN THE FIRST KOWALA PRIVATE TOKEN SALE
Vancouver, British Columbia – March 14, 2018 – Planet Ventures Inc. (the “Company”) (TSX.V: PXI; FSE: P6U) is pleased to announce that it has made an investment in the private token sale by Kowala associated with kUSD; Kowala is the world’s first autonomously stabilized cryptocurrency.
Kowala’s Unique Advantages
Cryptocurrencies such as Bitcoin, Ether, and Dash exhibit significant volatility. Consumers, merchants, traders, investors, miners and developers have a need for a cryptocurrency whose value can be counted on to remain roughly stable from one day to the next and whose operation does not depend on potentially unreliable third parties such as banks.
Why A Stable Cryptocurrency Is Needed
Beyond the considerable benefits that most cryptocurrencies bring, a stable cryptocurrency will provide unique benefits to many stakeholders, such as consumers, merchants, investors, traders, miners and developers.
Some use cases of a stable cryptocurrency for consumers are:
- avoiding cryptocurrency volatility when purchasing real-world products and services;
- avoiding volatility of less stable fiat currencies;
- providing a stable store of value; and
- gaining access to bank-like services offered by third parties (for consumers without easy access to bank accounts denominated in stable fiat currencies).
Some use cases for merchants are:
- avoiding volatility when selling products and services for cryptocurrency; and
- gaining access to bank-like services offered by third parties (for merchants
without easy access to bank accounts denominated in stable fiat currencies).
Some use cases for investors are:
- parking funds in a decentralized, stable asset.
Some use cases for traders are:
- pursuing arbitrage opportunities in new cryptocurrency markets;
- parking funds in a decentralized asset that has stable value; and
- trade in and out of stable asset at low cost and high speed.
Some use cases for miners are:
- pursuing mining profits without investing in expensive hardware and electricity costs;
- reaping mining rewards consistently, no matter whose machine solves the block; and
- having the option to sell or lease acquired mining rights.
Some use cases for developers are:
- incorporating payment functionality into apps and websites without the need to establish a merchant account; and
- incorporating such payment functionality while avoiding cryptocurrency volatility
What is Kowala?
The Kowala Protocol is the company’s proposed method for creating a new family of cryptocurrencies which maintain stable values while retaining other benefits of cryptocurrencies, such as decentralization, security, privacy, speed of transfer, and low transaction costs.
The Kowala Protocol defines a method for constructing a family of distributed, self- regulating, asset-tracking cryptocurrencies called kCoins. Each kCoin is designed to be traded on open exchanges and to maintain a close to one-to-one value relative to any widely traded asset such as a currency (USD, EUR, JPY, etc.) or other asset.
Each kCoin is identified by a symbol consisting of the letter“k” followed by the symbol of the underlying asset. For example, the kCoin of USD is kUSD, that of EUR is kEUR, and so forth.
kCoins constantly gather market information from endorsed sources and regulate their value through three core mechanisms: variable block rewards, variable fees, and an active and well-informed trading market. In time, these mechanisms are expected to return each kCoin to parity with its underlying, tracked asset. The expectation of each kCoin’s eventual return to parity, in turn, creates pure arbitrage opportunities for traders seeking to profit from slight fluctuations in kCoin market prices around the peg.
Planet purchased kUSD worth a total of USD$50,000 in a private token sale by Kowala.
Zula Kropivnitski, Planet’s Chief Financial Officer states “We are extremely excited to have the opportunity to take part in Kowala’s private token sale. After much due diligence, we believe Kowala’s value-add proposition and technology will bring it to the forefront of this crypto revolution. They’re solving an issue that everyone in crypto experiences, and I look forward to following their progress over the coming quarters.”
About Planet Ventures Inc.
Planet Ventures Inc. is positioning itself to be a leading investment issuer in Blockchain technologies and cryptocurrencies, providing investors exposure to a wide-range of investments in the Crypto/Blockchain markets. Planet invests in ICO’s (Initial Coin Offerings) and its management is focused solely on creating shareholder value by exposing its investors to multiple opportunities in the Crypto/Blockchain market. The Company’s initiative is to empower entrepreneurs developing disruptive technologies in the Blockchain space and provide them with the necessary capital and expertise to assist them in revolutionizing the industry. The company will retain its current investment portfolio and will continue to assess new opportunities for investment inside the cryptocurrency/blockchain space.
For more information, please visit our website: planetventuresinc.com
ON BEHALF OF THE BOARD
Chief Financial Officer and Director
INVESTOR RELATIONS CONTACT
PLANET VENTURES INC.
Tel: (604) 681-0084
Fax: (604) 681-0094
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