EVIO, Inc. (OTC: EVIO) announced today that the company is diversifying into the blockchain space.
The company has identified a substantial opportunity to generate return on capital through engagement of strategic investments in blockchain technologies. There are initially two areas that the company will engage:
- The company is evaluating opportunities to leverage distributed ledger technologies (“DLT”) to dramatically improve the way cannabis and pharmaceutical test results and product metadata are authenticated, accessed, and securely transmitted between owners.
- The company is also negotiating the acquisition of cryptocurrency mining equipment. The company believes in the future of cryptocurrency, and with recent relative price of coins and cost of mining equipment, mining can provide high annualized returns and provide better stability to our balance sheet.
CEO Lori Glauser says “Now that the blockchain ecosystem is maturing, EVIO is in a unique position to offer to its hemp and cannabis growers, breeders, product manufacturers and brands new ways to demonstrate authenticity of its products and drive interest in their brands. Meanwhile, cryptocurrency mining provides a way to diversify into the blockchain space with an effective use of capital.”
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