WESTON, FL / ACCESSWIRE / June 25, 2018 / It's been 10 years since Satoshi Nakamoto began the Blockchain revolution with the release of the Bitcoin white paper. While Blockchain took some time to capture the imagination and capital of technologists and investors, it has emerged as a fundamental innovation in the foundational technology for the internet. It is uniquely equipped to impact a broad range of industries from financial services to manufacturing, and to solve a variety of privacy, trust, and transaction issues that have become both an increasing frustration and threat to consumers and businesses alike.
Not since the internet revolution of the mid-1990's has there been such potential to reinvent how the global economy exchanges information and completes transactions. Some of the biggest companies that thrived during the dot-com era, and survived the tech bubble, focused on the infrastructure that powered the internet. Just as web browsers became the application that made the internet useful for billions of people around the world, Bitcoin, the largest application of Blockchain technology to date, has the potential to become the first native currency for the internet. As this new technology develops, much of the value it will create should accrue to the community, and the points where this community accesses this new ecosystem.
Those that figure out the how to make Blockchain useful and accessible to the greatest number of people will become the long-term winners in the industry. I believe that Bayside has the right vision and team to be among that group of winners.
Making it easier for people to access and use this new technology is our mission. Our network of Bayside Blockchain branded CTMs create secure and easy access points where everyone can use cash to purchase cryptocurrencies or sell their crypto holdings for immediate cash. Our CTMs are uniquely positioned to bridge the divide between the digital economy and the physical economy, between digital cash and physical cash. They are the on-ramp for people curious and looking to access the token economy.
Over the five months, since I joined Bayside as CEO, our entire team has worked hard to follow our mission and execute on our business plan of investing in infrastructure that will help grow adoption and acceptance of the Blockchain ecosystem. As of the timing of this update, we have installed our first 7 CTMs in premier locations across four states and are looking to add more locations throughout the year.
In addition, we have also worked to improve the Company's corporate governance and to bring our financial disclosures current. To that end, Bayside recently held a shareholder meeting where several proposals related to updating the Articles of Incorporation and preparing the Company for future corporation actions were discussed and voted upon by our shareholders.
The meeting was a success with 94% of the voting shares represented. All proposals were approved with a range of 59% to 94% of the votes. Further details will be made available in subsequent disclosure filings.
With that behind us, our next priority is to get current with our regulatory filings. To that end, we have engaged the services of legal and accounting professionals and plan to be current on all filings by the next quarterly filing deadline.
We are also committing to providing our shareholders and the public with as much transparency and communication about our business activities as possible. You will soon see a redesigned website along with an expanded and improved marketing effort through traditional and social media channels. We want everyone to be aware of Bayside's network of branded CTMs and understand how easy it can be to gain access to the exciting and emerging cryptoasset economy.
The Blockchain era is here and it's just beginning. Bayside intends to be at that center of this new and exciting technology. On a personal note, I want to take a moment to thank all of the shareholders that have reached out to me directly over the past few months. It is great to see how enthusiastic and engaged our shareholder base is. While regulations curb our ability to reach out to you on an individual basis, please know that your voices are being heard and that the entire Bayside team is focused on enhancing shareholder value every day.
As exciting and productive as the previous five months have been, we believe the best is yet to come. Going forward, we promise to continue providing timely and regular updates regarding our activities, and to sharing our milestones and achievements as they come to fruition.
Onward and upward!
Justin Frankel
CEO
Company Contact:
SOURCE: Bayside Corporation
