At present,the Company is working closely with a local blockchain incubator to identify developers looking for employment opportunities in blockchain software and app development. The incubator is a blockchain technology education, co-work and development center. It is their mission to provide an amazing space for innovation in the world’s most exciting and fast-moving industry. They are a collaborative space for blockchain technology educators, innovators, and startups.
Concurrent to becoming a member of the incubator, the Company will conduct an extensive search for in-house Ethereum blockchain software application developers. The company intends to develop in-house applications to take advantage of the ever-expanding opportunities for blockchain platforms in several industries as highlighted below.
Unlike most companies pivoting into the blockchain space, Square Chain Corporation is not pursuing ownership in cryptocurrencies or tokens. Likewise, Square Chain has no plans to pursue, or participate, in any type of an ICO. We do not have the management systems in place to manage the custodial obligations coins and tokens present. Furthermore, the Company has no plans to enter the increasingly crowded arena of cryptocurrency mining.
Our goal is to develop blockchain applications internally, participate in third party blockchain application development and invest in companies developing blockchain applications that solve real world industry pain points for specific businesses. Our revenue will be derived from the sale of our blockchain applications through B to B software distribution channels, monetizing investments in blockchain applications developed by third parties and participating in business opportunities via joint ventures or partnerships with existing companies that can benefit from blockchain applications we provide.
The company has identified an industry that has the potential to take advantage of the capabilities and goals of blockchain technology. We have had preliminary discussions with an expert and current 30-year participant in the direct response television industry (DRTV) to conduct a study to determine potential blockchain applications that can solve operational pain points in his business, as well as the industry in general.
Secondarily, as part of this study, Square Chain is in exploratory discussions with the local identified company to participate in a DRTV product and product launch. This would allow us to actively participate in the entire DRTV process, offering us the insight to know the industry needs inside and out, and increasing the likelihood of a successful blockchain application(s) product(s) roll out to the industry.