BOTS INC INCREASES INITIATIVES IN THE EMERGING DECENTRALIZED FINANCE (DEFI) SECTOR
SAN JUAN, PUERTO RICO, Jan. 11, 2021 (GLOBE NEWSWIRE) -- BOTS, Inc. (OTC: BTZI), an emerging innovator of products, technologies, and services for the rapidly growing digital robotic automation, blockchain and manufacturing industry announced today that it has decided not to finalize repurposing FIRST BITCOIN (COIN:BIT), into the name to “Basic Income Token” while retaining “BIT” as the digital currency’s symbol. We are awaiting CoinMarketCap and Coingecko’s recognition of the new markets based on adding Ethereum as an alternative way to own BIT. While First Bitcoin was the first to develop a coin utilizing the symbol BIT, others have sprung up using this same symbol, therefore readers of this news should be careful to avoid any confusion by matching the name “First Bitcoin” with the symbol.
First Bitcoin was designed by First Bitcoin Capital Corp (OTC:BITCF) to provide individuals and communities access to a cryptocurrency that enables a savings program, micro-payments, and to earn interest or stake their BIT holdings utilizing the DeFi (Decentralized Finance) protocols. Initially, we only provided a limited amount of staking via Proof of Stake (POS) mining to enhance mining merely by keeping holders’ bit wallets opened to earn more coins. We have now upgraded staking by adding an Ethereum Dapp that allows holders of BIT to deposit their coins via website to earn greater interest utilizing the Ethereum blockchain increasing earnings up to .18% per day without the need to mine. This new approach will not stop holders from POS mining in the original blockchain. Owners of BIT on the First Bitcoin Blockchain now have greater access to BIT through the Ethereum based Uniswap decentralized apparatus and are invited to contact us for instructions to convert their original BIT into the Ethereum based BIT. BOTS, Inc now owns the majority of all mined BIT on both blockchains. The new BIT Ethereum tokens were generated only for the purpose of swapping out of the original BIT and not to add to the total supply and can be swapped back to the original coins as well.
International Bankers magazine described DeFi as “decentralized finance—that is, the application of financial services using decentralized technology such as blockchain. DeFi projects aim to provide financial services that do not require centralized entities or financial intermediaries or middlemen to operate. Uniswap is a decentralized exchange ideal to perform these functions, including skaking utilizing a “MetaMask.” Adding of liquidity and trading BIT on UNISWAP can be witnessed here: https://info.uniswap.org/token/0x8646386d3023be134ca318b6b6659509c21108d3
“At present, ‘trust’ within the global financial system is largely represented by systemically important financial institutions and regulatory bodies. Have they been successful in instilling sufficient trust? That’s debatable at best. Errors, delays and security vulnerabilities have certainly not been infrequent. Nor have these entities been shy when it has come to taking their own pieces of the pie in exchange for providing this purported layer of trust. And what’s more, there have been depressingly few signs over the years and decades of their willingness to be more innovative, cost-effective or efficient.
“It is with such limitations in mind that the DeFi revolution has gathered steam. DeFi is about creating a network of financial services that seamlessly function without the need for intermediaries that could hold an unfair and inefficient controlling stake in the operation of the system. ‘The simplest way to describe DeFi is as an open financial network,’ Peter Johnson, ex-Morgan Stanley banker and now a partner at fintech (financial technology) venture-capital firm Jump Capital, recently told Fortune magazine. ‘If you want to send, lend or borrow money, you don’t need to join a private network like PayPal or Fedwire or a bank.’”
BIT’s purpose is to provide long-term daily income, a communication network already built into the system, access for better education and healthcare services, and a range of other social benefits to the global community.
About BOTS, Inc.
Headquartered in San Juan, Puerto Rico, BOTS, Inc., a publicly traded OTC Markets innovator trading under the symbol (BTZI) – is a diversified company developing and servicing blockchain and robotics solutions for its clientele. The Company is committed to driving the innovations needed to shape the future of digital robotic automation management through digital technology and decentralized blockchain solutions. Management is dedicated to the strong growth of Distributed Asset Technology and Robotic Process Automation (RPA).
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Certain statements contained in this press release may constitute “forward-looking statements.” Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in the Company’s filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company’s views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company’s website and filings.
Paul Rosenberg, CEO