Complements Existing Business Model in the LED, Energy & Smart Cities Sector
TROY, Mich., Jan. 11, 2018 (GLOBE NEWSWIRE) -- Viper Networks, Inc. (OTC Pink:VPER), (Company), an international leader in the LED lighting products & integrated systems markets, with a focus on Smart Cities, reported today that the Company is expanding into a strategic industry sector by creating a new division for their emerging Blockchain and Crypto Mining Technologies Group.
By adopting fast-emerging powerful technologies that can strengthen the Company`s core technologies, products and services within the LED industry, Viper Networks is pursuing future success far beyond a single sector leadership position.
Farid Shouekani, the Company`s General Manager stated, "We are in the early stages of blockchain technology and our team has identified applications that can broadly complement our existing business and offer tremendous growth opportunities for Viper Networks."
"We plan to keep our shareholders updated as coming events unfold."
Info About Blockchain technology:
The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value. Originally devised for the digital currency, Bitcoin, the tech community is now finding other potential uses for the technology.
By allowing digital information to be distributed but not copied, blockchain technology created the backbone of a new type of internet in that it has a built-in robustness. However, by storing blocks of information that are identical across its network, the blockchain cannot be controlled by any single entity and has no single point of failure.
Further, no centralized version of this information exists for a hacker to corrupt.
Bitcoin was invented in 2008. Since that time, the Bitcoin blockchain has operated without significant disruption.
Info about Crypto mining:
Crypto Mining is a sector that the Company has been actively exploring due to the large amount of energy required to fuel the mining technology, which dovetails perfectly with Viper Networks Energy division to deliver low cost energy solutions. Bitcoin`s surge in price has sent its electricity consumption soaring. Alex de Vries` index shows that bitcoin miners worldwide could be using enough electricity at any given time to power about 2.3 million American homes.The use of renewable energy technology continues to grow in the United States and around the world.
For more information go to www.ViperNetworks.com.
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This news release contains "forward-looking statements" as that term is defined in Section 27A of the U.S. Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this release which are not historical are forward-looking and include any statements regarding beliefs, expectations or intentions regarding the future.
Investor Relations: Heritage First Capital // Scott Gibson, 407.444.5959
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Source: Viper Networks, Inc. via GlobeNewswire