Last checked at 1 Feb 2021 07:00
Mode Global Holdings PLC
Mode announces it will preserve original Bitcoin white paper on its website
· Mode becomes first publicly listed company in the UK to host the Bitcoin white paper on its website
· Mode aims to support Bitcoin network and be a source of education and inspiration to other financial innovators
· Other companies hosting the white paper include Square, Fidelity Digital Assets, and nation states such as Estonia, Columbia and the city of Miami
Mode Global Holdings PLC ("LSE:MODE") announced today that it will host the original Bitcoin white paper on its website as a further sign of support towards the Bitcoin network and to raise awareness of the underlying principles of the world's most adopted cryptocurrency.
As part of its vision to provide access to disruptive financial products, Mode's goal is to also educate about the revolutionary technology behind Bitcoin. As such, Mode has become the first publicly listed company in the UK to host the Bitcoin white paper on its website. This follows announcements by companies such as payments provider Square, fund manager Fidelity Digital Assets and cryptocurrency friendly nation states such as Estonia, Columbia and the city of Miami, who have also chosen to preserve the paper on their sites.
The original Bitcoin white paper, "Bitcoin: A Peer-To-Peer Electronic Cash System," was published by the pseudonymous inventor Satoshi Nakamoto in October 2008. The paper outlines the proposal of electronic peer-to-peer cash and the mechanics of what is now commonly known as Bitcoin's "blockchain". Bitcoin is secured by the most powerful computer network in the world which has run without interruption and incidents since its launch in January 2009. Several trillion USD have been processed on the Bitcoin network already which currently stores over $600 billion in value. Bitcoin is used by over 100 million people worldwide and is reimagining how value is being stored and exchanged globally, akin to digital gold.
Janis Legler, Chief Product Officer at Mode, said: "At Mode, the spirit of embracing progressive and inclusive technologies runs through our DNA. Bitcoin presents a quantum leap in open-source financial innovation and is set to become a global symbol for decentralisation and technological progress. It has been our mission since inception to provide access to Bitcoin though our products. Preserving the original Bitcoin white paper on our website as a source of education and inspiration marks another step in promoting the Bitcoin network. If you haven't already read it, now's your chance."
To date, Mode has launched a mobile app for both newcomers and experts of crypto to easily buy, and store Bitcoin, and access it anytime, anywhere. Users can sign up, make a free and instant Open Banking top up directly into Mode from their bank account, and start buying Bitcoin in just minutes. Users can also earn 5% APY on their Bitcoin through Mode's unique Bitcoin Jar and get paid weekly.
Jonathan Rowland, Executive Chairman at Mode, said: "Today's announcement marks another important step for Mode towards cementing our position as a pioneer in the UK financial sector, whose vision is to accelerate the world's transition to a truly digital financial system. We hope that raising awareness of this revolutionary asset will help other players understand its disruptive nature and embrace it too."
Traded on the London Stock Exchange since October 2020, Mode was one of the first companies to IPO with a consumer Bitcoin offering and adopt Bitcoin as a treasury reserve asset.
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Contact
Maitland/AMO (PR): James Isola/Kate Pledger ModeBanking@maitland.co.uk