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Virtual Crypto Technologies to Unveil Cannabis Payment Solution at Boston 2018 Cannabis World Congress

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Rosh Haa'yin, Israel, Sept. 13, 2018 (GLOBE NEWSWIRE) -- Virtual Crypto Technologies, Inc. (the "Company" or "Virtual Crypto") (OTCQB:VRCP), a developer of innovative software and hardware for the purchase and sale of cryptocurrency via point-of-sales systems, ATMs, tablets, PCs and mobile devices, announced today that they will unveil their proprietary cannabis-centric crypto payment solution in October 2018 ahead of schedule. The company is setting-up private demos with dispensary owners, investors, partners, and associated stakeholders during the Cannabis World Congress & Exposition in Boston on October 17th-20th.

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Attendees at the trade show, dedicated to the Cannabis industry, will be the first to see live demonstrations of the new CannaBit Solution®; a real-time, cost effective, point-of-sale system with proprietary verification algorithm software installed. Virtual Crypto's CannaBit software instantaneously predicts with a very high degree of precision whether a cannabis dispensary transaction via cryptocurrency will be authorized by the Blockchain.  

"As a company, we are excited to debut our new cutting-edge cannabis point-of-sale payment solution at the Cannabis World Congress this October," stated Virtual Crypto Technologies CEO Alon Dayan. "We are committed to providing a solution that will seamlessly facilitate transactions with local dispensary shops and consumers where marijuana dispensaries are legal and recognized by the U.S. government. Showcasing our innovative POS solution at the Boston event is a big step for our company as we continue to gain momentum."

Virtual Crypto's unique technology provides an alternative payment method to an industry looking for an answer. The legalization of cannabis in a plethora of states has the industry seeking standards that will satisfy financial institutions whose concerns with the growing industry persist. Currently, difficulties exist for new businesses entering the cannabis industry. Legally established dispensaries have been unable to collect payment with credit cards and, as a result, many dispensaries operate almost exclusively in cash or employ other creative solutions.

Dayan continued, "with cash currently accounting for more than 90% of all POS transactions within the cannabis industry, our solution provides dispensary retailers with an alternative payment solution that is instant and effective." He added, "cash payments are not going away but the growing use of digital transactions, including crypto, and mobile changes the paradigm. Virtual Crypto allows consumers expecting fast, seamless digital transactions an additional option, one with an added benefit of lower fees than traditional credit cards."

The company seeks to build a community of cannabis retailers using the cryptocurrency payment solution whereby dispensary owners and consumers will be encouraged to provide best practices in an effort to enhance customers' checkout experience. The Virtual Crypto device enables sales associates the ability to roam the dispensary and complete a transaction on the device at the shopper's location. A mobile POS solution provides added benefits that include saving time at checkout, the ability to establish multiple transaction access points within the business, and the option of replacing the traditional check-out system.

Virtual Crypto transactions are simple. For one to purchase cannabis via the Virtual Crypto solution, all a consumer needs is a digital crypto wallet which will enable a user to scan a QR code that appears on the dispensary's point-of-sale screen's interface. The software calculates, in real-time, a series of unique variables that validate a transaction. Within seconds, the store owner receives a confirmation of the sale. Each transaction is assured to be competitive with market rates as Virtual Crypto's proprietary algorithms scan multiple exchanges to provide customers with the best value at the exact time of the sale.

Virtual Crypto representatives anticipate being in Boston for the entirety of the Cannabis World Congress & Exposition and are available to meet with prospective customers, partners, and other interested parties between October 17th and 20th. For more information or to set-up a demo, please email info@virtual-crypto.com with the subject header Boston 2018. 

About Virtual Crypto Technologies, Inc.

Virtual Crypto Technologies, Inc. (OTCQB:VRCP) ("Virtual Crypto") is a technology company dedicated to making cryptocurrency accessible to the public on a global basis.  Virtual Crypto specifically develops payment solutions for businesses and consumers, which combine Application Programming Interfaces and Mobile Applications for implementation via ATM's, PCs, tablets and other mobile devices.

The company's proprietary algorithmic technology trading platform and NetoBit product line, instantaneously confirms the purchase or sale of cryptocurrency, as opposed to industry transaction processing norms, which can take 10 minutes up to 24 hours. All trades and exchanges are insured up to $3,000 per trade.

Virtual Crypto's NetoBit ATM and retail point-of-sale, NetoBit Pay, incorporate advanced technologies tailored to the needs of primary market players, users, investors, and business owners. Virtual Crypto's platform bridges the three main functions of the cryptocurrency sector – exchanges, wallets, and payments – to the world of fiat exchanges, granting access to immediate cash exchanges between consumers and businesses worldwide.

For more information, please email info@virtual-crypto.com.

 

Forward-Looking Statements 

All statements other than statements of historical facts contained in this press release are "forward-looking statements," which may often, but not always, be identified by the use of such words as "may," "might," "will," "will likely result," "should," "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "continue," "target" or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including, but not limited to, those described in the Company's 2018 Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the "SEC") on April 17, 2018, and the other risks and factors set forth in the Company's filings and submissions with the SEC. In addition, the Company operates in a relatively new industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond its control. These forward-looking statements speak only as of the date hereof and the Company disclaims any obligations to update these statements, except as may be required by law.

 

Contact:

Steve Zeitch, Virtual Crypto Technologies, Inc.

Tel: +212-381-6082 x 702

steve@virtual-crypto.com

 

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Steve Zeitch
Virtual Crypto
6468848988
steve@virtual-crypto.com

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