HashChain Technology Inc. (TSXV:KASH, OTCQB:HSSHF) today announced that their cryptocurrency accounting software, Balance, will support the Bittrex exchange, allowing quick and secure automated digital currency financial reporting for their users. Bittrex currently facilitates trades between more than 190 digital currencies including Bitcoin, Ethereum, Bitcoin Cash, NEO, OmiseGO, Dash, Nexium, Siacoin and Zcash in a highly secure environment. With this integration, Balance now supports three leading cryptocurrency exchanges, including Coinbase and Gemini.
Balance is a Software-as-a-Service (SaaS) offering that allows cryptocurrency users to generate a fiat denomination ledger by analyzing the blockchain to report capital gains and losses. Users can directly upload their wallets or accounts on the aforementioned exchanges, where Balance calculates exact values of each transaction and tracks the cost basis and days carried. Once the gains and losses are calculated, the software automatically details the information on a worksheet that can be shared with a CPA to file with other tax items.
“Even though tax guidelines for cryptocurrency have been around since 2014, it has been only recent mainstream adoption driving heavy enforcement of these guidelines,” said Patrick Gray, CEO of HashChain. “We will continue to build upon our Balance solution, adding new exchanges and functionality to ensure that every coin holder has simple and secure means of reporting their gains and losses to their respective government entities.”
Balance is currently available to all first-time users as a complimentary service they can use to ensure all taxable events are accounted for and reported correctly. Considering that the IRS can conduct audits six years back and the agency has indicated that they will be taking a close look at crypto holder’s filings, it is imperative that all transactions are accurately accounted for. Users can sign up for the service here: https://www.node40.com/balance/
The Company is pleased to announce a total of 1,090,000 stock options have been granted to a consultant of the company pursuant to the Company’s Stock Option Plan. The options are exercisable for a period of five years at a price of $0.30 per share and will vest immediately upon issuance.
About HashChain Technology Inc.
HashChain is a blockchain company, and the first publicly traded (TSXV: KASH; OTCQB: HSSHF) Canadian cryptocurrency mining company to file a final prospectus supporting highly scalable and flexible mining operations across all major cryptocurrencies. HashChain taps low-cost North American power, cool climate and high-speed Internet: the trifecta most critical to mining success, to create a competitive position for maximizing the number of mining ‘wins.’ Diversifying its business strategy beyond crypto mining, the Company acquired NODE40, a blockchain technology company that developed NODE40 Balance, a new SaaS product making cryptocurrency accounting and tax reporting simpler and more accurate. The solution allows cryptocurrency users and traders to accurately report their capital gains and losses. NODE40 is also one of the leading masternode server-hosting providers for the Dash network.
HashChain Mining is a wholly owned subsidiary of HashChain Technology Inc. based out of Albany, New York, and an office in Vancouver, British Columbia.
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CEO -amp; Director
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HashChain Technology Inc.
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Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release, including statements regarding the acquisition by the Company of TG12 and another company with 5,000 Rigs (the “Transactions”), including the anticipated benefits to the Company of the Transactions, the anticipated performance of a total of 9,870 Rigs, the expected timing of delivery and installation of 1,000 Rigs by the end of May 2018 and another 5,000 rigs by the end of June 2018, and expectations regarding future operations may constitute forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company’s current beliefs as well as assumptions made by and information currently available to the Company, including that all conditions to the closing of the Transactions will be satisfied, including receipt of all required approvals, and the Transactions will complete on the terms set out in the agreements, the 9,870 Rigs will perform as expected by management, the 6,000 Rigs will be successfully delivered and deployed and the timing of delivery of the 6,000 Rigs will be consistent with management’s expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, the risk that the conditions to the closing of the Transactions will not be satisfied, including the risk that required approvals are not obtained, and that the Transactions will not complete on the terms set out in the agreements or at all, the risk that the Transactions, if closed, will not result in the anticipated benefits to the Company; the risk that the 9,870 Rigs will not perform as expected by management and the risk that the 1,000 Rigs will not be successfully delivered and deployed by the end of May 2018, or at all or that the 5,000 rigs will not be successfully delivered and deployed by the end of June 2018. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.