American Green Inc (ERBB)

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PHOENIX, AZ, April 07, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – American Green, Inc. (ERBB:OTC) president David G. Gwyther announced today that The Company is developing its cryptocurrency: The American GreenBack™

American Green recently executed a binding letter of intent to acquire VendWeb and has completed the second cash payment as part of that binding (LOI). The Company plans to launch its new crypto coin, designed specifically for use in age-verified transactions for alcohol sales in venues such as sporting events, concerts, nightclubs, or other age-restricted settings such as cannabis dispensaries and smoke shops.

“American Green intends to release a whitepaper this month defining our purpose-designed cryptocurrency for transactions that require age verification. The Company anticipates utilizing an American Green application on the user’s device, to allow the purchase and use of American GreenBacks™ in our proprietary vending solutions,” said David G. Gwyther, president of American Green.

As envisioned, the American GreenBack™ would employ Know Your Customer (KYC) and Anti-Money Laundering (AML) compliant verification software, together with biometric data (ID, fingerprint, retinal scan, palm print, etc.) - all maintained in a unique, unalterable blockchain. American GreenBacks™ would only be tradeable with other KYC/AML-verified counterparties.