$SDVI ~ Monster Crypto News from last week:
Signature Devices Announces Joint Venture with Genius Ventures to launch an Artificial Intelligence CryptoCurrency for GPU Media Devices
IRVINE, CA,, Jan. 18, 2018 (GLOBE NEWSWIRE) -- --Signature Devices, Inc. (OTCPK: SDVI) – today announced that it has entered into a joint venture with Genius Ventures, LLC. The two companies are launching a CryptoCurrency that will be used in Innovo Technologies GPU enabled Media devices. These types of CrytpoCurrencies are sometimes called Utility Tokens, as the currency will be used for the processing of Artificial Intelligence.
Innovo Technology, a leading software and hardware development is integrating the CryptoCurrency into the IOT business. Each device will use the idle time to execute artificial intelligence processing and receive CryptoCurrency in an internal wallet that can be used to purchase media such as Movies & Music and even redeem the CryptoCurrency for other currencies.
The agreement terms are as follows: Signature Devices, Inc. will receive 20% of the initial supply of CryptoCurrency as an asset to the company. Genius Ventures will retain another 20% of the initial supply and another 20% will go to an unannounced third party. There will be another announcement with details on the third party and Graffiti Entertainment, the subsidiary of Signature Devices, Inc. The remaining 40% of the initial supply of the CryptoCurrency will be used for an Initial Coin Offering for foreign investors that can invest in CryptoCurrencies without regulatory concerns.
The CryptoCurrency is based off of the Ethereum Blockchain and is utilizing smart contracts for the A.I. Processing and payment system. There are varied devices that will be able to earn the CryptoCurrency by utilizing the idle time of GPUs for the A.I. processing. Each device/device owner will then receive 70% of the payments for that processing.
$SDVI
