Building one of the largest blockchain technology companies in the world
Building one of the largest blockchain technology companies in the world
A blockchain is a decentralized digital ledger of encrypted transactions called “blocks” that are distributed over a peer-to-peer network of computers. The blockchain is not housed in a single location or owned by a single entity, ensuring transparency and security.
A block records some or all of the recent transactions, and once completed, is housed in the blockchain as a permanent database. Each time a block gets completed, a new one is generated. There are countless blocks in the blockchain, connected to each other in linear and chronological order. The blockchain has complete information about different user addresses and their balances from the very first block to the most recently completed one.
Public and enterprise blockchains are secure by design and are the continuously growing ledger on which all decentralized cryptocurrency and applications are built.
Miners use high end computers to solve mathematical equations to verify transactions on the blockchain.
Mining computers collect hundreds of pending transactions — also called a block — and turn them into a mathematical puzzle. The miner who finds the solution first gets rewarded.
HashChain purchased 1,000 DASH cryptocurrency in October 2017, the amount required to be maintained in a wallet in order to become a masternode. As a masternode, HashChain can vote on initiatives and important decision regarding the future of DASH, as well as facilitate anonymous (“PrivateSend”) and instant transactions (“InstantSend”) on the blockchain that prevents double-spending and eliminates bottleneck often displayed in “proof-of-work” blockchains. The DASH network currently rewards each masternode holder 6.67 DASH per month. As part of HashChain’s acquisition of the NODE40 business, NODE40 will pay to HashChain certain masternode rewards for a total duration of 36 months following the closing. In total, HashChain will receive approximately 880 coins per year for three years, equating to a total revenue of $693,590 CDN per year at the current DASH-to-CDN conversion rate of $788.17 CDN for February 23, 2018.
Cryptocurrency mining requires three things to operate at Optimal Efficiency:
HashChain has created proprietary software to monitor hardware 24/7 including: IP, temperature, hashrate, wattage, fans and memory.
The data center will have the flexibility to switch between cryptocurrencies to focus computing resources on the most profitable cryptocoins, making it capable of mining numerous cryptocurrencies.
Hashchain’s main focus will be to expand its global blockchain technology business, which is supported by Balance, its cryptocurrency accounting and tax software, as well as its mining capacity through its highly efficient data centers. Additionally, HashChain will pursue a number of strategic initiatives:
The Hashchain team has decades of business, technical and financial expertise.
The team will leverage their experience in coordinating initial public offerings, raising capital, marketing/branding and general business strategy to execute the business plan. HashChain’s leadership focuses on capitalizing companies within emerging markets with experience in resources, healthcare, education and now blockchain/cryptocurrency technology. Investing and mining in cryptocurrency has been their passion since the inception of Bitcoin.
Headquartered in Albany, New York with a satellite office in Vancouver, BC the Hashchain team consists of industry experts specialized in blockchain technology and creating a return to its stakeholders.
Patrick Gray is the Chief Executive Officer and founder of HashChain and helps lead the overall strategic vision of the Company. Mr. Gray obtained a bachelor degree in computer science and a minor in business from Siena College in New York. The first start-up he was involved in was sold to Xerox for $220 million dollars.
Patrick has started multiple successful companies and raised millions of dollars from private investors. One of his start-ups sponsored a nationally televised race, the Indy 225 at the New Hampshire Motor Speedway, which was televised on NBC. He currently owns sCube Inc. a niche IT Service provider that focuses on E-Discovery, E-Licensing, Application Development and IOT. sCube has been awarded Best Places to Work by the Business Review. Mr. Gray has been recognized with two of his companies on his alma maters wall of success. He is also a recipient of the Business Reviews “40 under 40.”
Sean Ryan, co-founder and CTO of NODE40, LLC is bringing his expertise to HashChain. An industry leader in the development of blockchain infrastructure services and cryptocurrency accounting, Ryan has an unparalleled understanding of how blockchain transactions work. Under Ryan’s technical guidance, HashChain will scale its service offerings to meet the demand of this growing industry.
Perry Woodin is currently on the Advisory Board of Dash, one of the top 5 Cryptocurrencies globally. His interest in blockchain technologies started with the financial incentives that digital currencies use to encourage network participation — from early Bitcoin mining to Dash incentivized full nodes. Perry founded NODE40 to service serious blockchain investors who want to participate in incentivized networks and track the financial health of their assets.
Perry comes to blockchain application development with over 20 years experience developing and managing web-based applications and services. Prior to NODE40, Perry worked as a consultant and was responsible for the development and management of customized metrics intensive business applications. His business experience includes running one of the first web-based applications that allowed high-end art galleries to manage their online presence. It was the goto data management application for many galleries in New York City for 12 years.
Paul is a 12-year veteran in senior corporate finance and accounting positions for Fortune 500 companies, including General Electric and Xerox. Prior to joining HashChain, Paul served as the Director of Finance for Conduent Legal and Compliance Services, specializing in financial reporting and project management.
Paul obtained a Bachelor’s of Science in Accounting from SUNY Geneseo and an MBA from Pennsylvania State University. He is a member of the American Institute of Certified Public Accountants and New York State Society of CPA’s, and previously served on the Finance Committee for the AIDS Council of Northeastern New York.
David Madore is a cryptocurrency enthusiast who has over twenty years of executive experience specializing in program management. Currently he is part of the senior management at Accela Inc., the worlds largest cloud based provider of government licensing software. David oversees a large portion of delivery for the central region of the United States. This team’s revenue projections are $35 million a year.
Prior to this Mr. Madore worked as Vice President of Operations at Morkaut & Associates, an Architectural, Engineering and Construction Management firm. During his tenure David lead day to day operations and was personally responsible for more than $200 million in high- end commercial development. Early in David’s career he was a manager for Xerox Litigation Service where he lead large E-Discovery cases for many fortune 500 companies. In addition to holding degrees in Technology, Social and Physical Sciences he also has certifications in Six Sigma and Agile Scrum.
Alan Poirier has been a technical executive for over 15 years with expertise in the design, development and implementation of leading-edge technologies, systems applications and operations. In his current role as Chief Technology Officer at [s] Cube Inc., he specializes in evaluating client needs and delivering appropriate technology solutions that are innovative and cost effective. His proven expertise in leadership, product management and customer relationship building to consistently deliver productive results is the main reason he has been able to elevate [s] Cube Inc. to new levels year after year.
Gary Bahre is an experienced entrepreneur who owned, operated and sold the New Hampshire Motor Speedway. He was also a majority owner of the Oxford Casino in Maine which sold to Churchill Downs. He is considered one of the most successful businessmen in the North East and was even listed on The Powerful: New Hampshire’s 10 most influential people.
Gary is a philanthropist who cares about the environment, politics and communal wellbeing. He takes a vigorous stance in social responsibility initiatives and is very active in charitable contributions worldwide.
Jack Saba co-founded Day One Investments and Day One Consulting to aid international economic development by bringing the Blockchain to emerging markets. At Draper University, he worked with over 200 entrepreneurs from more than 50 countries as they navigated business development, leadership, and fundraising challenges.
Mr. Saba has hosted Blockchain events and hackathons, and has had numerous speaking engagements to spread awareness of the generational opportunity the Blockchain is providing for entrepreneurs, investors, and social impact initiatives.