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Online Blockchain cooperates with ADVFN to target Brazilian market with new cryptocurrency

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The blockchain and cryptocurrency developer said it had developed the software and a basic wallet for the crypto-token, which is based on a ‘hard-fork’ from the Bitcoin source code.

Online Blockchain PLC (LON:OBC) said it is cooperating with financial market website ADVFN PLC (LON:AFN) to target the Brazilian market to build support for Brazio, a proof-of-work cryptocurrency.

The AIM-listed blockchain and cryptocurrency developer said it had developed the software and a basic wallet for the crypto-token, which is based on a ‘hard-fork’ (permanent change to the software system) from the Bitcoin source code and would be conducting initial marketing to create awareness in the Brazilian market from June through ADVFN’s Brazil platform.

Very early stage of development
Online added that itself and ADVFN were bearing their own costs in respect of their cooperation on the development of Brazio at this stage, and while there is currently no financial arrangements between the two, it was anticipated that ADVFN may in time receive a marketing fee to be settled in Brazios on terms to be agreed.

The company clarified that Brazio was still in a very early stage of development, and that it would provide further updates in due course.

The firm also said it had begun work with teams of independent blockchain developers on new project initiatives and intended that Happypool.co (a mining pool developed by Online that enables miners to pool their computing power together to mine blockchains) would enable the development of additional blockchain support services, including providing mining support for a new coin or a new fork of an existing one.