DIGITALX LIMITED z
ASX ANNOUNCEMENT
12 January 2016
Dear Shareholders,
It has been another interesting year for DigitalX Ltd (ASX:DCC), and 2016 promises to be the most exciting period yet for our company. We have never been better placed to capitalise on what is shaping up to be a dominant fintech theme in 2016 - the adoption of blockchain technology in the global banking industry.
The Board is very focused and committed to executing the commercial rollout of the Company's global remittance fintech product AirPocket, firstly in Latin America and the Caribbean during Q2 2016. The rollout will coincide with the move into blockchain technology by the global banking industry.
It is common for early technology companies to undergo many changes as their technology develops and commercial opportunities for that technology become apparent.
DigitalX is no exception to this, and we are now in the final stages of securing a number of key contracts with global industry leaders to bring our technology to large and growing markets around the world including Latin America and the Caribbean.
These are key markets for DigitalX because the vast majority of the population in those countries has limited access to traditional banking facilities.
This success is the result of important changes DigitalX has made over the past year.
DigitalX, which was formerly known as DigitalBTC, originally focused on the mining and trading of bitcoins. Although the focus has now shifted to AirPocket, these activities have recently provided us with a solid financial footing as we ended the December 2015 quarter with positive cash flow.
Bitcoin pricing became more favorable during 2015, as pricing began the year at $US314 and ended it at
$US430. Despite the 37% annual increase in bitcoin value, the market remains highly volatile and will continue to be subject to increased regulation.
During the course of the year we started to see tremendous opportunity with bitcoin's underlying blockchain technology.
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To capitalise on the opportunity and to become a pioneer in blockchain applications for global funds and credit transfers, we began focusing the company's efforts on the remittance and payments sector with the creation of our flagship product, AirPocket. Development of AirPocket is nearing completion and we are on track to go live in Q2 2016.
I would like to thank you, our shareholders, for putting your faith in us as we approach the launch of AirPocket in a number of large emerging economies, where the need for it is the greatest.
Yours sincerely, Alex Karis
Chief Executive Officer
-Ends-
DigitalX Ltd Zhenya Tsvetnenko Executive Chairman T: +61 8 9389 2000 media@digitalx.com Alex Karis Chief Executive Officer T: +1 (617) 544 3150 | Media Media & Capital Partners Asher Moses Director +61 438 008 616 Asher.moses@mcpartners.com.au |
DigitalX is a Blockchain-based software solutions group disrupting the payments industry. Its products allow consumers to make secure and cost-effective money transfers worldwide. Partners can use DigitalX's technology to offer new financial products. DigitalX is based in Boston and has offices in New Jersey and Australia.
DigitalX Limited issued this content on 2016-01-12 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-12 13:23:17 UTC
Original Document: https://digitalx.com/wp-content/uploads/2015/10/CEO-Letter-to-Shareholders.pdf
