Global Arena Holding, Inc. (GAHI) announced that with its subsidiary’s acquisition of Blockchain Technologies Corporation (BTC), it had put in an initial investment to officially secure six blockchain startups, five provisional patents, one non-provisional patent and the expertise of Nick Spanos, President of BTC.
BTC, a blockchain and cryptocurrency software technology company and startup accelerator, commenced the process with GAHI Acquisition Corporation during the 2nd Quarter of 2015, with GAHI securing the initial capital required to start the agreement and plan of merger in the 3rd Quarter. This has given GAHI a tenable accumulation of up to 30% of BTC by acquiring a 10% stake through a cash and stock deal, as well as the rights to acquire an existing position held by a third party debtholder equal to 20% stake of BTC.
The end result of this is likely to be GAHI, cementing its entry into blockchain by merging with BTC under GAHI’s name. John Matthews, CEO of GAHI, said “Through this deal, we have now solidified the Company’s entry into the blockchain. What makes this foray even more exciting is that Global Election Services (“GES”) now has complete access to Nick Spanos and his expert knowledge of the blockchain. This gives Ms. Maralin Falik the ability to leverage the power of the blockchain, through vertical applications developed by BTC — and enhance the rapid expansion of our election services business.”
According to Matthews, GAHI, who focus on acquiring technologies, patents and companies having the ability to leverage the blockchain crypto technology, intends to use the blockchain to influence and create vertical blockchain applications.