WRIT Media Group, Inc. (OTCQB: WRIT) has signed a Memorandum of Understanding with Optical Digital Transmission Company (“ODTC”) to purchase 10% of the outstanding equity in ODTC and to collaborate on the development of crypto mining processor technology. Optical Digital Transmission Company has developed an optical transistor technology, as registered under US patent US7053359B2, which uses optical transistors for computing. Optical transistors have the potential to exceed the speed of electronic transistors, while consuming less power and emitting less heat. In addition to bringing innovative crypto mining technology to WRIT’s Pelecoin software platform, the new deal will include partial ownership in the US patent, which has value across a wide variety of other computing systems.
“In Optical Digital Transmission Company we feel we have found a good technology partner that can help us grow our crypto mining business via truly unique product offerings, and take us ahead of our competitors for years to come,” said Chief Executive Eric Mitchell. “This will be a win-win for both organizations and we will explore similar agreements with other technology companies that represent tangible strategic value for our Pelecoin digital currency software.
WRIT Media’s Pelecoin (“PLCN”) is a token which is emitted based on the Pelecoin software platform that enables the simultaneous “mining” of a basket of up to fifty crypto-currencies, combined with a trading algorithm that liquidates the most profitable coins and/or trades between them to make the basket more valuable.
In addition to enhancing the features of its Pelecoin technology, WRIT Media Group is investing in client acquisition across all businesses and geographies that will benefit from its Pelecoin platform, including large, established organizations as well as emerging growth companies. As a result, WRIT Media intends to accelerate growth by adding new business lines, new clients and expanding the digital currency “mining” capabilities of existing clients, as well as develop new revenue models for business growth.
Pelecoin is now available to the public by registering for a free Pelecoin account and by downloading the Pelecoin miner in order to start mining. For additional information and to register follow the link www.Pelecoin.com
About WRIT Media Group
WRIT Media Group, Inc. (OTCQB: WRIT) is a diversified media and software company whose operations include digital currency software development, including trading platforms and Blockchain solutions, content production and distribution; and video game distribution via mobile platforms.
Cautionary Note Regarding Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, but not limited to, those discussed in WRIT Media Group’s latest 10-K filed July 14, 2017. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Pelecoin, CrypFXPro, Pelecoin Smart Contracts and their related trademarks and names are the property of WRIT Media Group, Inc. and are registered and/or used in the U.S. and countries around the world. All other trademarks belong to their respective owners.
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WRIT Media Group, Inc.
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