GD Entertainment and Technology ( GDET) (“GDET” or the “Company”) is excited to announce that its subsidiary HyperDigital Technologies has finalized its initial purchase order with Genesis Coin to launch the company’s ATM division.
GDET ordered a “Satoshi 2” ATM unit which supports both cryptocurrency purchases and sales. The news follows an impressive rally in the cryptocurrency market with an increase over $7 billion in the market cap.
Company CEO Anil Idnani commented, “We are proud to start off the New Year with our initial ATM purchase as well as starting a long term and fruitful relationship with our supplier, Genesis Coin. We are one step closer to our vision of becoming a leader in blockchain, transactional-based services. Our team is working hard to integrate these units in strategical locations that will set us apart from our competition. I look forward to providing more exciting updates in the near term.”
At present, the Company is working to achieve the following near-term objectives:
- Locate pilot location for ATM launch
- Purchase additional ATM Units
- Creating an aggressive marketing/branding campaign for the ATM units
- Register with additional states through strategic locations
The state of the art ATM units feature some of the following specifications: a 14-inch LCD touch screen, counterfeit money/bill detector, QR barcode scanner, EMV card reader, HD web/security camera, electronic locking system, uninterruptible power supply (UPS), Ethernet/Wi-Fi capabilities, and a cash dispensing unit (CDU).
In addition to Bitcoin, currently the ATM units has the software to support other popular alternative cryptocurrencies or “altcoins” such as Litecoin, Ethereum, and Bitcoin Cash. This feature will allow users to explore and access additional currencies in the growing $140 billion cryptocurrency market.
According to bitcoinexchangeguide.com. the Cryptocurrency ATM market is rising fast, averaging 6 new machines installed a daily basis. The total number of machines installed worldwide is estimated at 4155 in over 75 countries.
This growth in the market does not apply solely to the mainstream ATM operators as even larger institutions such as Bank of America have expressed interest in the space. According to investinblockchain.com, on December 26, 2018 the bank had filed a patent to develop blockchain-based ATMs targeting the handling of cash.
GDET shareholders can continue to expect frequent updates as the Company’s objectives proceed over the near term.
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