PlusOneCoin cryptocurrency project

RNS Number : 6284Y

On-Line PLC

07 December 2017

 

For immediate release

7 December 2017 

On-Line PLC

 ("On-line" or the "Company")

PlusOneCoin cryptocurrency project

The Board of On-line is pleased to announce the first phase of our PlusOneCoin cryptocurrency project which we are developing in conjunction with ADVFN PLC ("ADVFN"). Following successful testing within the ADVFN community, ADVFN is today offering all its customers and members a PlusOneCoin wallet, which has been built on software developed by On-line. PlusOneCoin is designed as a social media cryptocurrency which will allow social media users to interact and "up vote" content of other social media. 

The addition of the PlusOneCoin wallet to the ADVFN platform allows customers to deposit PlusOneCoin at ADVFN from the relevant blockchain. Customers will then, in due course, be able to exchange PlusOneCoin for social media items and products on the ADVFN site using PlusOneCoin wallet. PlusOneCoin can be transferred in and out of the PlusOneCoin wallet.

The PlusOneCoin wallet brings PlusOneCoin onto the ADVFN platform and facilitates and introduces its large mature user base to cryptocurrency, blockchain mining and other aspects of this emergent sector.   The wallet also provides ADVFN users with an educational platform to learn about cryptocurrencies, increased functionality on the ADVFN site as well as the potential of new products. For ADVFN, it creates a larger broader audience for it cryptocurrency information platform and presents additional potential revenue and business development prospects. On-line and ADVFN are each bearing their own costs in respect of the PlusOneCoin cryptocurrency cooperation project and there are currently no financial arrangements between the two companies in respect of this project. However, it is anticipated that On-line will in due course charge publishers like ADVFN a license fee for its software which supports the wallet, on terms to be agreed. 

Michael Hodges of On-line said:

"We have progressed our road map to create a content monitisation software platform on top of blockchain with the integration of a cryptocurrency wallet for the ADVFN community. Being able to work in an agile manner with a large established community has provided an opportunity to create software solutions. This underscores the potential of this and other projects."

Clem Chambers, CEO of ADVFN said:

"PlusOneCoin has been quickly accepted by the ADVFN community during testing. With the integration of a PlusOneCoin wallet we now have a platform to roll out new functionality and products to the user base while giving ourselves, content creators and our users, powerful tools and new channels of monitisation."

More information on On-line can be found at: www.on-line.co.uk

For further information please contact: 

On-Line PLC Michael Hodges, CEO	[phone]
Beaumont Cornish Limited (Nominated Adviser) www.beaumontcornish.com
Roland Cornish/Michael Cornish	[phone]

Glossary

"blockchain" is a distributed public digital ledger in which transactions made in PlusOneCoin are recorded chronologically

"cryptocurrency" is a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of any central bank

Further details on PlusOneCoin are publicly available at www.plusonecoin.org

ENDS

 

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