The eXe50/50 application, from the ExeBlock Technology Corporation, will be established to be used concurrently by multiple charities in any jurisdiction from a local to a global basis. Various associations, community leagues, professional sports and charities use 50/50 draws for raising funds all around the world.

ExeBlock is one of the first Canadian public companies focused on the development of disruptive Decentralized Applications using blockchain technology. To understand this better, Digital Journal caught up with Jonathan Bahai, the Founder of ExeBlock.

Jonathan Baha’i – Founder at eXeBlock Technology Inc.

Jonathan Baha’i

Digital Journal: How important is blockchain becoming for businesses?

Jonathan Bahai: Every business uses a ledger, needs audits that agree on the information being correct, has to incentiize people to work, and uses contracts at various levels in their operations. The four basic elements of the public decentralized blockchain are consensus, incentive, a ledger, and smart contracts. Once mass adoption of blockchain begins to take hold it will be similar to what happened with businesses and websites with the advent of the Internet. Earlier on some didn’t see any importance to it, today they cannot be considered a legitimate business without one.

DJ: What makes ExeBlock Technology Corp differ to its competitors?

Bahai: We are focused in world changing, disruptive, decentralized public blockchains and Dapps that will dominate global markets.

DJ: You have two new products coming out, please explain about EXE 50/50?

Bahai: The new Dapp is called 5050Labs. It will enable charitable organizations worldwide to be able to create 50/50 draws on the Peerplays blockchain. This will enable good causes to have a more effective means of raising funds over traditional methods, reduce their costs, and incorporate a built in auditing and complete transparency and provable fairness to the entire process. Hundreds of millions of dollars are transacted in 50/50 draws in north america alone.

This will make it possible to reach anyone with a smart phone worldwide to participate in and support the causes they believe in while knowing that their support is in fact going to the cause itself. It’s all transparent on the blockchain.

DJ: Which types of charities would the scheme work with?

Bahai: Once Freedom Ledger, our premier onboarding blockchain Dapp that will layer on 50/50 to allow for traditional payments to work with the blockchain is introduced, then all charities both big and small will be able to utilize 5050Labs in their fundraising efforts.

DJ: How are the launch preparations going?

Bahai: Fantastic. We have already demonstrated the testnet version to some very well known brands in the industry who are excited about the prospects of the 50/50 blockchain application we have created.

DJ: What does your second product, Freedom Ledger do?

Bahai: It makes it easier to transact with blockchains. All blockchains use tokenization as a means of transferring value. This will enable traditional money payment methods to securely transact with Dapps and blockchains in the whole industry. Unlike some who attempt this, Freedom Ledger only transacts at the point of sale. It does not act as a custodian to their money or end users tokens.

DJ: Are the two products only for the Canadian market?

Bahai: No, they are designed for the world to use in a public decentralized blockchain.