NASDAQ OMX

DigitalTown Introduces Blockchain Platform for Smart Cities

Dela

A Digital Framework for Local Stakeholders to Own the Future of Cities

SEATTLE, Sept. 13, 2017 (GLOBE NEWSWIRE) -- DigitalTown, Inc. (OTC PINK:DGTW), a leading provider of smart city portal solutions, announced today the launch of a Blockchain-based Distributed Ledger for managing shared ownership of each city in its global network of city portals. The unprecedented move heralds a new era for empowering public-private partnership in the development of thriving local economies.

DigitalTown operates a global network of more than 20,000 city portals such as Nashville.city that make it easy for residents and visitors to search, share and shop local. Each city portal is equipped with SmartSearch, a powerful local search engine that provides locally relevant information tailored to personal preferences. Registered merchants are provided with an online storefront with which they can sell locally and globally, paying only transaction fees. All legal residents are provided with a free SmartWallet that includes a verified online identity with which they can securely engage and transact with services from both the public and private sector. 

For cities where the municipality, or its proxy itself does not license the platform for their city, each resident of a city is to be allocated a fractional ownership unit of the city platform. The units may be claimed during a defined subscription period, after which the distributed units become freely traded and accessible to both residents and non-residents.

Rob Monster, CEO of DigitalTown, commented on the launch, "Since the advent of online search, local and regional institutions such as municipalities, chambers of commerce, convention and visitor bureaus, destination marketing organizations, trade associations, as well as other local institutions have been competing with each other for ranking in search engines.  In many cases, they have also experimented with buy local initiatives using directories of local merchants but with no ability to transact. These uncoordinated digital efforts have often resulted in an inconsistent user experience causing both locals and visitors to rely on non-local online tools to find out where to go, what to do, as well as where to stay, shop or eat. Local ownership of a unified city platform provides the organizing framework to regain control over the online economy, achieve self-sustaining economic development, and equip local stakeholders to win in the Digital Age."

A Breakthrough for City Innovation
The DigitalTown SmartCity platform provides cities with the tools required to compete and win in the Digital Age:

A Single Verified Login for the City :  The DigitalTown single-sign-on SmartWallet provides every registered citizen with a free verified login with which they can securely connect and transact both locally and globally across both public and private services - everything from local shopping, booking a table at a restaurant or signing up for parks and recreation. Community members and businesses can also securely transmit funds in real-time without fees using their SmartWallets.

A storefront for every business :  DigitalTown provides integrated solutions for local commerce across retailers, service providers, dining, and lodging. Registered businesses can secure a free storefront with which to begin transacting immediately. Merchants pay only transaction fees, often far below the fees to which merchants are subjected to when consumers don't buy local, e.g. paying up to 40% for a hotel booking.

A secure platform for local innovation :  Software developers in a city can use DigitalTown's Application Program Interface (API) at no cost. During London Tech Week in June 2017, attended by more than 50,000 delegates from both London and abroad, nearly 400 developers participated in the Smart.London global Hackathon sponsored by DigitalTown in cooperation with our London-based partners.

Shared Local Ownership for Aligned Incentives and Local Innovation
Across the global network of more than 20,000 cities, DigitalTown has reserved 80% ownership interest of each city portal for local and regional institutions who are committed to local online economic development. Local owners who enter partnership agreements with DigitalTown are also granted 'Right of First Refusal' for each city portal, thereby securing a path to consolidating full local ownership. Centralized payment processing by leading global payment processors provides a seamless path for the municipality, or its proxy, to become the Merchant of Record.

A Scalable Model for Local City Platform Ownership
To bring about such an important change, DigitalTown is partnering locally and globally. In the US, DigitalTown is working in cooperation with long-standing institutions such as local Chambers of Commerce, Trade Associations and the Municipalities themselves.  Individuals from around the world are encouraged to sign up at DigitalTown.com to secure their ownership interest in their local city platform, and to be eligible to participate in future auctions for unclaimed units for their city. A copy of the Blockchain whitepaper describing the fractional ownership distributed ledger can be obtained at DigitalTown.com/blockchain.

As part of the worldwide rollout of the DigitalTown SmartCity platform, DigitalTown is scheduled to exhibit at the following events: World Chambers Federation in Sydney from September 19-21, International City Managers Association Expo in San Antonio from October 22-25, and Smart City Expo in Barcelona from November 13-15.  Major rollouts are now in progress in London (Smart.London), Miami (Smart.Miami), Nashville (Nashville.city), San Diego (SanDiego.city).  New multi-stakeholder city rollouts have now been confirmed for Bavaria, (.bayern), Charleston (Charleston.city), Melbourne (.melbourne), Nordrhein-Westfalen (.nrw), Sydney (.sydney), and Vienna (.wien).

About DigitalTown
DigitalTown, Inc. (DGTW) powers Smart Cities to succeed in the Digital Age. The company provides turn-key hosted solutions to power "Digital Towns", which improve Quality of Life for residents and visitors through integrated solutions for economic development, civic engagement and digital inclusion for cities around the world. For more information about the company, please visit www.digitaltown.com.

Safe Harbor Language: Any statements contained herein related to future events are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act 1995. Readers are cautioned not to place undue reliance on forward-looking statements. DigitalTown, Inc. undertakes no obligation to update any such statements to reflect actual events.

Media Contact:
Rob Monster, Chief Executive Officer
DigitalTown, Inc.
(425) 295-4564; rob@digitaltown.com




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: DigitalTown via Globenewswire

Om

NASDAQ OMX
NASDAQ OMX



Följ NASDAQ OMX

Skriv in din e-postadress så får du ett mejl när vi har något nytt att berätta.

Senaste pressmeddelandena från NASDAQ OMX

Gainey McKenna & Egleston Announces VimpelCom, Ltd. Class Action Litigation Update (Now Known As VEON Ltd.) (VEON)25.9.2017 05:55Pressmeddelande

NEW YORK, Sept. 24, 2017 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces Class Action update regarding VEON, Ltd. ("VEON" or the Company") (NASDAQ:VEON), previously known as VimpelCom, Ltd. On December 9, 2016, Lead Plaintiff in the action filed an amended class action complaint.  The amended complaint asserts claims on behalf of all persons or entities that purchased VimpelCom securities (now VEON) between December 4, 2010 and November 3, 2015 inclusive (the "Class Period"), and seeks to pursue violations of the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 10(b)-5 promulgated thereunder.  Recently, the Court issued an important decision which denied the Company's attempt to dismiss the class action.  In particular, the Court's decision denied Defendants' motion to dismiss and sustained most of the claims in the amended class action complaint. A copy of the amended class action complaint and the Court's decis

Nasdaq Welcomes Secoo Holding Limited (Nasdaq: SECO) to The Nasdaq Global Market22.9.2017 21:11Pressmeddelande

NEW YORK, Sept. 22, 2017 (GLOBE NEWSWIRE) -- Secoo Holding Limited (Nasdaq:SECO), Asia's largest online integrated upscale products and services platform, rang the opening bell at the Nasdaq MarketSite in Times Square today in celebration of its initial public offering (IPO) on The Nasdaq Global Market. Photos accompanying this announcement are available at http://www.globenewswire.com/NewsRoom/AttachmentNg/45f7dc57-524d-4463-a839-d201c341a0f1 http://www.globenewswire.com/NewsRoom/AttachmentNg/149603ca-4949-4531-bf94-aeb6ded2e6df http://www.globenewswire.com/NewsRoom/AttachmentNg/e80a55e0-3858-41cb-80d3-9c9296d6143a Secoo is a consumer-focused online retail platform that offers offline experience centers to provide customer support and membership services. Secoo has built a trusted and comprehensive global supply chain for upscale produ

Alipay teams up with Nordic partners to bring "smart tourism" to Chinese visitors22.9.2017 11:42Pressmeddelande

HANGZHOU, China, Sept. 22, 2017 (GLOBE NEWSWIRE) -- Alipay, the world's largest online and mobile payment platform, operated by Ant Financial Services Group ("Ant Financial", "Ant"), today announced that it has signed separate MoUs with Finpro (Finland), Svensk Handel (Sweden) and the Scandinavian Tourist Board, which will enable merchants across Nordic region to accept payment via Alipay and reach Chinese customers before, during and after their visit via Alipay's in-app marketing platform. This will bring Chinese tourists the same convenient payment and travel experience that they enjoy in China. Douglas Feagin, President of International Business, Ant Financial Services Group, said, "Alipay has been leading the trend of smart living in China. People not only use Alipay for payment, but also for settlement of all types of needs in their daily life. As part of our globalization strategy, we are focused on working with local partners to bring this

OpenAire brings in the sun with retractable structures across Europe22.9.2017 08:00Pressmeddelande

OAKVILLE, Ontario, Sept. 22, 2017 (GLOBE NEWSWIRE) -- Venues around the world have been thrilled by OpenAire's retractable roof and enclosure designs since 1989. In 28 years, OpenAire's team of experts has completed nearly 1,000 unique retractable roof enclosures and operable skylights for venues of every size and kind internationally, including many groundbreaking designs across Europe. From Russia to warm and sunny Gibraltar, OpenAire has provided many commercial enterprises, resorts and even some private residences with beautiful retractable enclosures that suit their location and climate perfectly. OpenAire works closely with every client from the start, providing them with the flexibility to make their visions a reality. Many clients across Europe have seen increased business and excellent reviews after building an OpenAire solution. Some notable OpenAire designs include: Aqua Sferra's record-breaking 5,667 m2 (60,999 sq. ft.) free-standing aluminum dome housing its indoor

XBiotech to Present at Cantor Fitzgerald's Global Healthcare Conference21.9.2017 14:00Pressmeddelande

AUSTIN, Texas, Sept.  21, 2017  (GLOBE NEWSWIRE) -- XBiotech Inc. (NASDAQ:XBIT) announced today that management will be presenting at Cantor Fitzgerald's Global Healthcare Conference taking place September 25-27 at the InterContinental New York Barclay Hotel in New York City. Mr. Benjamin Guzman, the Company's Senior Vice President of Corporate Strategy & Finance, will provide a corporate overview on Wednesday, September 27th at 2:50pm Eastern Time. About True Human(TM) Therapeutic Antibodies Unlike previous generations of antibody therapies, XBiotech's True Human(TM) antibodies are derived without modification from individuals who possess natural immunity to certain diseases. With discovery and clinical programs across multiple disease areas, XBiotech's True Human antibodies have the potential to harness the body's natural immunity to fight disease with increased safety, efficacy and tolerability. About XBiotech

At the 10th anniversary of the iPhone, Chairman of Pilatus Bank draws a stark comparison of the role technology has played in banking vs telecommunication21.9.2017 08:58Pressmeddelande

LONDON, Sept. 21, 2017 (GLOBE NEWSWIRE) -- Ali Sadr, Chairman of Pilatus Bank, believes that banks have failed to capture the true essence of technology for improving quality of service, as well as lacking the vision necessary to capture customers' imaginations. Meanwhile, other industries have been revolutionized and continue to thrive by the same technology. America has in the last 10 years been forced to close 10,000 branches. Since 2008, Europe has lost close to 48,000 branches, which is more than 20% of its branch network. There is little doubt that branch banking is on the decline, and online banking is failing to provide a quality service.  As we mark the 10th anniversary of the iPhone, Ali Sadr, Chairman of Pilatus Bank, gives a sobering count of the current state of affairs in the use of technology among well established banks, and elaborates on a vision that has the potential to become the largest revolution the banking industry is yet to experience. Chairman Al

I vårt pressrum kan du läsa de senaste pressmeddelandena, få tillgång till pressmaterial och hitta kontaktinformation.

Besök vårt pressrum