Management of Ether Capital Provides Overview of Vision and Progress
TORONTO, Sept. 19, 2018 (GLOBE NEWSWIRE) -- Ether Capital Corporation (“Ether Capital,” “ETHC” or the “Company”) (NEO:ETHC) is pleased to publish the following update to shareholders from the Company’s Chief Executive Officer, Brian Mosoff, and President and Chief Financial Officer, Stefan Coolican..
We joined Ether Capital on July 23, 2018. In the weeks since, we have had very positive engagement with many Ether Capital stakeholders, both internally and with members of the crypto community, development teams, capital markets participants and others.
Obviously our shareholders are a key stakeholder group and we’re fortunate to have been able to connect with many individual and institutional shareholders over the last few weeks.
The most common questions we have received are:
- What is happening with the price of Ether?
- What is your plan to grow the business of Ether Capital?
We would like to take this opportunity to address both of these important and related questions.
To the first question, Ether, the cryptocurrency of the Ethereum platform, has fallen significantly in price since the beginning of the year. As the market for Ether is global and trading volumes are driven substantially by retail investors, pinpointing exact reasons for the price decline is difficult and elusive. As assets that have the potential to provide outsized returns, cryptocurrencies are very volatile investments – they always have been and they will continue to be for the foreseeable future. The market, at times, appears to be driven only by those looking to capitalize on short term trading opportunities.
At Ether Capital, we eschew short term trading and are focused only on long term value creation. We believe that a pre-eminent “world computer” will likely garner trillions of dollars in market value. Our long term view remains that Ethereum will be the backbone of this computer and that substantial value will accrue to Ether as the commodity-like fuel used to access and use this computer.
And what gives us confidence in this thesis? In short, there are currently no competing platforms that rival what Ethereum has been able to achieve in terms of an operating product and network effects. From a historical perspective, Ethereum has been running for over three years with minimal interruption; it is battle tested code. From a mindshare perspective, over 250,000 developers globally are estimated to be working or building on the protocol. Large technology companies continue to lose talent to blockchain projects, most of those connected in some way with Ethereum.
We are often asked about Project A or Project B unseating Ethereum as the world computer. Our response is always: show us the code and its deployment and show us the developers who are building on the platform. That is not to say credible competitors will never emerge; but it is our view that no project currently rivals Ethereum.
To the second question, Ether Capital’s strategic focus is on becoming the central business and investment hub for the Ethereum ecosystem. This means providing shareholders with financial exposure to the Ethereum protocol and key components of the infrastructure that will be the foundation of Web 3.
Web 3 and the Ethereum ecosystem are a movement towards an internet where users are in control of their data and its monetization and where users retain their privacy. It is an internet where rent-seeking middlemen have less power and where value transfer is a native feature of the internet itself. In other words, buying or selling a product or a service doesn’t require you to necessarily interact with the traditional financial system in a separate and distinct manner.
Ether Capital is pursuing a long term business model built on three pillars:
- Asset management through our holdings of Ether and tokens or equity of other projects
- Technology development aimed at decentralized application (“dapp”) adoption
- Ancillary blockchain services that generate income from passive assets
Our investment thesis is guided by our view of the development of the Ethereum ecosystem over the next few years. While we believe Ethereum will succeed as the world computer there are still many challenges before mass use and adoption of the platform can occur.
These challenges include: the lack of a decentralized stable unit-of-account, inefficient fiat-to-crypto onramps and insufficient blockchain scaling. Our investment and technology development efforts will focus on projects that address these important challenges.
In this regard, we are able to report that we have identified several potential investment opportunities, including one which we would characterize as near term. While we are not able to provide a timeline to closing on any prospective investment and there is no guarantee that the Company will be able to execute on these opportunities, we expect to be active in the coming months and we look forward to updating you again in due course in accordance with our disclosure obligations.
About Ether Capital Corporation
Ether Capital is a Toronto-based technology company whose objective is to become the central business and investment hub for the Ethereum and Web 3 ecosystem. Ether Capital has invested in Ethereum’s native utility token “Ether” as a strategic asset, and intends to selectively invest in projects, protocols, technologies and businesses that leverage the Ethereum ecosystem and Web 3 technologies. Founded by a highly experienced Board of Directors and management team, Ether Capital has the resources, experience and relationships to support businesses and invest in industry-shifting disruptive technologies. For more information, visit http://ethcap.co/.
For further information concerning this press release, please contact:
Chief Executive Officer
President and Chief Financial Officer
This press release is not an offer of securities for sale in the United States, and the securities described in this press release may not be offered or sold in the United States absent registration or an exemption from registration. The securities have not been and will not be registered under the United States Securities Act of 1933.
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “scheduled”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” occur or be achieved. Forward-looking information includes, but is not limited to, statements in regard to the prospects for blockchain technology and the Ethereum platform, the Company’s business and strategy, and the Company’s plans going forward including investment opportunities and timing thereof.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: general business, economic, competitive, geopolitical, technological and social uncertainties; uncertainties in regard to the development and acceptance of blockchain technology and the Ethereum platform; uncertain capital markets; and uncertainties related to investment opportunities. Although the forward-looking information is based on the Company’s reasonable assumptions at the date such statements are made, there can be no assurance that the forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update or revise any forward-looking information, except in accordance with applicable securities laws.