New York, NY – May 14, 2019 – For decades, payments companies such as PayPal (NASDAQ:PYPL) and banks have overcharged consumers with expensive transaction and transfer fees. P2P payment giant Alipay, owned by Alibaba (NYSE: BABA) is free for smaller users but can grow to 1.2% depending on your transaction volume. But, even with Alipay, global transfers are restricted, tightly controlled and monitored by the Chinese government. Even with the new TransferWise service, consumers can’t seem to escape processing fees. And it’s not just traditional currencies that suffer from high transfer fees. Cryptocurrencies like Bitcoin and Ethereum charge steep fees when it comes to cashing out to fiat money. Riot Blockchain, Inc. (NASDAQ:RIOT) announced plans to launch a regulated crypto exchange in the U.S., in the wake of a recent massive rally enjoyed by Crypto. Litelink Technologies Inc. (CSE:LLT) (OTC:LLNKF)’s wholly owned subsidiary uBUCK Technologies SEZC is about to revolutionize the digital payments industry and allows consumers to earn rewards via an integration of Datable Technology Corp.’s (TSX-V:DAC) (OTC:TTMZF) loyalty program.
uBUCK could change the rules forever with the coming launch of uBUCK Pay, the world’s first worldwide decentralized online payments platform offering a stable token with a pin voucher solution that serves as a payment alternative for consumers, businesses and merchants. Users of uBUCK Pay will now be able to transfer uBUCK cash to friends, family, vendors and business associates around the world — all without paying a single penny in transfer fees.
Worldwide money transfers are instantly processed in near real-time and are 100% free on this platform. This is essentially the holy grail of overseas transfers that countless people and multinational businesses around the world have been seeking since the dawn of globalization, and that new technologies such as cryptocurrencies could never truly deliver on.
In fact, free worldwide money transfers make Litelink Technologies Inc.’s (CSE:LLT) (OTCPK:LLNKF) uBUCK a game-changing platform with true disruptive potential. Catering to fiat and crypto, this platform is open to users across the spectrum.
The company has just signed an agreement to integrate the loyalty and rewards program of Datable Technology Corp.’s (TSX-V:DAC) (OTCPK:TTMZF)into the uBUCK Pay platform. This would effectively allow account holders of uBUCK Pay to earn rewards for every purchase and payment they make within the uBUCK Pay digital wallet or on their uBUCK Mastercard, another bonus to uBUCK’s payment convenience.
The beauty of this platform lies in the U.S. dollar backed stable tokens called uBUCK cash. Being a stable utility token makes it incredibly flexible and secure, allowing users to transfer funds worldwide, shop anywhere in the world and earn points while they’re at it. Built on the decentralized, distributed ledger of the record-breaking fast Waves blockchain platform, it enjoys the same security as Crypto but none of the volatility thanks to being a stable token.
With uBUCK, you can shop with your virtual multi-currency wallet or a physical card. Users can use their uBUCK Black Elite Mastercard online or offline anywhere Mastercard is accepted. Such an offering easily beats out any and all payment competitors, including digital payments platforms such as cryptocurrencies, Alibaba’s Alipay, Western Union, PayPal or PayPal subsidiary Venmo.
Truly Disruptive Fintech
International fund transfers have always been difficult. Chinese digital wallets such as WeChat Pay or Alibaba (NYSE: BABA)’s Alipay payment service, are highly convenient – particularly within Mainland China and areas with a large Chinese diaspora. However, international transfers for Alipay are limited to 30,000RMB (USD $4,361), with a fee of 50RMB (USD $7.27) per transfer. WeChat has even stricter limits. In addition, only Chinese citizens are allowed to send money through the app—at least for now. Meanwhile, PayPal (NASDAQ:PYPL) charges $4.99 for international transfers plus another 2.9% plus 30 cents per transaction if funded by a credit or debit card. Paypal also charges 1% of the amount transferred, up to a $10 maximum for instant transfers with an eligible linked debit card.
Blockchain-based cryptocurrencies such as Bitcoin have held the promise of secure, cheap and quick transfers, but the bitcoin network is slow and their blockchain fees can get very expensive if there is congestion on the network. Cryptocurrency is notoriously difficult for fiat withdrawals given you have to go through the exchange like that being offered by RIOT Blockchain (NASDAQ:RIOT), which can take anywhere from four to fourteen days. With the recent rally in Crypto, users looking to cash out on their coins can simply purchase uBUCK cash and immediately convert it to U.S. dollars.
Another problem with transferring money using cryptocurrencies is volatility. The value of the most popular cryptocurrency coins and tokens fluctuate wildly over time, as they are not asset-backed or stable tokens, and are traded primarily by speculators on digital currency exchanges. Unlike cryptocurrencies, uBUCK is not mineable or tradeable, and its value is backed by the U.S. dollar through pin voucher sales. When users buy uBUCK vouchers, the funds are held in trust, until the user wishes to load their uBUCK Mastercard. uBUCK, therefore, will never fluctuate in price.
Loyalty Rewards to Sweeten an Already Sweet Deal
With uBUCK’s newest strategic partnership with Datable, the potential market exposure of uBUCK will increase a thousand-fold. Considered the top rewards platform on the market, Datable currently features over 30 brands such as Universal, General Mills, Unilever, and Toro. Under the terms of the latest letter of intent with Datable, the uBUCK prepaid cash card will be featured as a reward for consumers to purchase with their points inside every one of Datable’s client portals.
As uBUCK charges a transaction fee for each purchase, Datable will be sharing the revenue from these transaction fees and card sales. Meanwhile, Datable’s referrals will allow uBUCK to potentially gain access to millions of new users who frequent their portals.
The introduction of Datable’s customer loyalty and rewards program both encourages adoption and fulfills a key marketing function – introducing the tokens to the market via a rewards program they are familiar with. According to Reuters, 80% of Americans already belong to some type of loyalty rewards program, with U.S. consumers holding a whopping 3.8 billion memberships in customer loyalty programs.
It’s clear that rewards programs have become an incredibly popular feature for even new tech brands, as they offer a loyalty incentive for customers to continue using the service, while consumers and shoppers receive a value-added bonus for something they were already going to do.
PayTM’s digital wallet has been largely successful due to its customer rewards program. The company is raising up to USD $2 billion at an $18 billion valuation. The fact that loyalty programs continue to grow despite having been around for so long shows that these systems are demonstrably effective, and can have a significant impact on the bottom line.
Litelink Technologies Inc.’s (LLT- LLNKF) uBUCK platform stands to absorb a potential influx of new customers upon its launch. It’s also something that other digital payment platforms have never offered, which is why loyalty rewards should give uBUCK Technologies SEZC the clear edge in the fight to become a dominant player in the P2P digital payment space.
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New York, NY – November 29, 2018 – Legacy systems are a significant problem for the logistics industry. Despite the industry being worth more than $8.1 trillion, companies continue to rely on outdated platforms to manage their operations. These systems are inefficient and costing the industry. Innovation is a key driver of future growth, and many companies are already working on new technologies to replace existing legacy systems. Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk famously blamed his company’s failure to produce and deliver the Model 3 car on the fact that they had gone “from production hell to delivery logistics hell.” Alphabet Inc. (NASDAQ:GOOGL) has bet big on this problem, investing $185 million through a Series C round into trucking startup Convoy, which valued the company at $1 billion. Third-party logistics (3PLs) company J. B. Hunt Transport Services Inc. (NASDAQ:JBHT) invested $500 million into developing an internal cloud-based platform for their data, while competitor C.H. Robinson Worldwide Inc. (NASDAQ:CHRW) is focused on improving their Navisphere software, which relies on predictive analytics. Meanwhile, LiteLink Technologies Inc. (CSE:LLT) (OTC:LLNKF) is set to deploy its innovative 1Shift platform, which aims to solve the biggest logistical problems faced by shippers and carriers.
Logistics Companies Overlooked Tech – Now It’s Costing Them
Technology has always existed in the logistics industry, but many companies chose to overlook it. That decision has resulted in severely outdated legacy systems being the norm in the industry. With costs on the rise, 3PLs have no choice but to upgrade their systems. J.B. Hunt Transport Services Inc. warned in 2017 that costs were set to increase by 10% as a result of regulations, a driver shortage, fuel prices, and shrinking margins.
Existing legacy systems are expected to handle everything from managing driver availability, route scheduling, payments, regulatory oversight, shipment tracking, and delivery. Fragmentation poses a challenge in this industry, with the top four companies commanding only 15% of the overall market share. In the United States, a large portion of logistics companies is smaller carriers with six or fewer trucks. Fragmentation of the industry, combined with rising costs, are two problems that legacy systems cannot cope with at scale. These systems are highly inefficient, costly to maintain, and are counterproductive to growth.
Empty trucks comprise nearly 20% of all miles driven, while 36% of non-empty miles are unoptimized. This wastage is not only avoidable, but it costs companies billions every year. LiteLink Technologies Inc. (CSE:LLT) (OTC:LLNKF) is looking to solve this problem through its new 1Shift platform. 1Shift offers 3PLs a more efficient logistics process, by leveraging the power of data to enhance supply chain procurement, sales and operational planning, and customer service. These enhancements should affect shipping routes, delivery timeframes, driver availability, paperwork, and offer reliable tracking for trucks. As the platform adapts, it will optimize existing routes and provide improvements that could save logistics companies billions.
We’ve already seen advancements in just in time deliveries, connectivity through the Internet of Things (IoT), warehouses that utilize robotics, and predictive analytics similar to C.H. Robinson Worldwide Inc.’s Navisphere platform. There is legitimate interest in the logistics industry from large companies in the tech sector. Alphabet Inc.’s investment wing, Capital G, raised $150 million through Series C funding for trucking startup Convoy, which valued the company at $1 billion.
Software as the Solution
The logistics industry is made up of shippers, carriers, and brokers (3PLs). Shippers are companies with products, carriers supply the labor and trucks, and 3PLs act as the middleman that facilitates the relationship between the two. This is how the industry has existed for decades.
A smaller broker can typically schedule between three and four shipments per day due to the large amount of inefficiency that exists in this industry. Tesla Inc. is looking to solve this problem through autonomous trucks. However, the $150,000-$180,000 price – more than double the cost of a diesel semi – may be too expensive for smaller carriers to afford. Additionally, the company’s inability to produce its electric cars at scale is an issue that they will need to overcome first. There’s also the regulator problem. Regulations for autonomous vehicles do not exist at the federal level and will need to be created before autonomous vehicle technology can receive the green light from governments and insurance companies.
C.H. Robinson Worldwide Inc and J. B. Hunt Transport Services Inc. are two large 3PLs that have the resources to develop internal solutions due to their combined market capitalizations of $24 billion. If most smaller brokers are unable to afford a Tesla semi, then they do not have enough capital to build their own internal systems. In an industry that’s worth more than $8 trillion, smaller 3PLs will need internal software like LiteLink Technologies Inc.’s (CSE:LLT) (OTC:LLNKF) 1Shift to survive.
LiteLink Technologies Inc. (CSE:LLT) (OTC:LLNKF) has already built a platform that directly solves these problems through data-driven work task efficiency improvements. 1Shift streamlines the broker process by providing carriers with a marketplace to find new jobs, reducing overall downtime and the likelihood that a truck sits empty. It accomplishes this through an artificial intelligence system that analyzes and optimizes data points. For shippers, 1Shift simplifies the process of finding drivers, allows shippers to use GPS to track shipments accurately, reduces paperwork, eliminates human error, and the availability of real-time data makes it a reliable tool for dispute resolution.
By focusing on internal efficiency, the platform should earn the trust of all three parties in the industry. Shippers and carriers will benefit from the cost-savings, while 3PLs should reduce wastage and improve the efficiency of their scheduling systems and routes.
Companies Innovating the Logistics Industry:
Tesla Inc. (NASDAQ:TSLA): Tesla Inc. is the world’s leading manufacturer of electric vehicles. Their product line includes the Model S, Model 3, Model X, and Roadster. The company revealed that they are interested in creating a Tesla semi truck, but have yet to release any concrete details regarding the trucks availability.
Alphabet Inc. (NASDAQ:GOOGL): Alphabet Inc. is the parent company of Google. In Q3 2018, the company invested $150 million into logistics startup Convoy through their investment wing Capital G.
B. Hunt Transport Services Inc. (NASDAQ:JBHT): J.B. Hunt Transport Services Inc. is one of the largest 3PLs in the world. In 2017, their gross logistics revenue was $6.8 billion. The company invested $500 million into developing an internal cloud-based logistics system that should allow them to streamline their processes.
C.H. Robinson Worldwide Inc. (NASDAQ:CHRW): C.H. Robinson Worldwide Inc. is the world’s largest 3PL company. In 2017, their gross logistics revenue was $14.8 billion. The company’s Navisphere platform is designed to improve logistical efficiency to shippers and carriers.
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VANCOUVER, British Columbia, Nov. 20, 2018 (GLOBE NEWSWIRE) — LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT), a technology leader utilizing artificial intelligence and predictive analytics to move enterprises into a digital-forward world, is pleased to announce Mr. Shoukri Kattan as Head of Artificial Intelligence (A.I.) and Technical Delivery. Mr. Kattan will drive LiteLink’s A.I. and Technical Delivery Strategy and will oversee the delivery of many LiteLink products including the 1Shift Logistics platform.
Mr. Kattan is a technology leader and visionary with over ten years of experience working in both startups and large enterprises, leading teams, and delivering software products to customers ranging from small to Fortune 500 companies. Mr. Kattan’s areas of expertise include artificial intelligence, deep learning, and cloud computing. Before joining LiteLink, Mr. Kattan founded Success.ai, a Canadian startup that created a conversational intelligence platform utilizing machine learning and artificial intelligence to serve customers through digital channels. His commercial customers included top Canadian Telecom Operators as well as local governments that reaped the benefits of this leading-edge A.I. platform. Mr. Kattan also served as a Director of Technology at Ericsson, a global telecommunications company.
“I’m excited to join LiteLink, and I look forward to applying my knowledge of A.I. and deep learning to solve customer problems, starting with the 1Shift Logistics platform. The logistics industry has been operating under the current model that relies on reactive actions and forecasting for too long. It is a broken model that doesn’t work well in a business climate characterized by uncertainty and volatility. It is time to change this model towards one with proactive operations and predictive intelligence. Predictive logistics is the future. Companies will either have to adapt and use this model or risk becoming obsolete,” said Mr. Kattan.
“Mr. Kattan will be pivotal in the progression of all future LiteLink projects. Using his invaluable expertise in A.I. and deep learning, we will be able to solve the minor and major problems experienced across the logistics industry. Shoukri brings a deep technological understanding, and I am confident he will make an impact working with us at LiteLink Technologies,” commented LiteLink CEO, Mr. Ashik Karim.
About LiteLink Technologies Inc.
LiteLink provides enterprise level solutions utilizing artificial intelligence and predictive analytics to solve the logistics industry’s fragmented and outdated technology problem. LiteLink is creating a unified communications platform for tracking shipments, disputes, and errors to increase efficiency and reduce costs for 3PLs, carriers, and shippers. Find out more about the Company at litelinktech.com and the 1Shift Product at 1shiftlogistics.com.
For further information, contact Bronson Peever at 833-205-6945 ext 3742 or email investor@litelinktech.com.
Forward-looking Statement
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the nature of the business of LiteLink, and other factors or information. Such statements represent LiteLink’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by LiteLink, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. LiteLink does not intend and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
LiteLink Is A Major Player In Developing World Class Enterprise Platforms & Wallets.
We challenge ourselves every day to find the very best use cases and business opportunities to drive customer value as well as saving them money in their daily operations through our platforms.
LiteLink Technologies
Business Model
LiteLink strives to develop products that create a world of transparency, trust, usability, and automation, which in turn increase productivity & human capital management.
Product Uniqueness
Our platforms use the power of blockchain, artificial intelligence and the rich features in the Amazon Cloud to change the way the world works in logistics, digital wallets & payment solutions.
Management Team
LiteLink directors and advisory board members have the quintessential mix of blockchain experience, industry knowledge and financial capabilities to build tech platforms that impact traditional industries.
1Shift is an end-to-end logistics management solution that enables real-time transparency & tracking as well as peer feedback and regulation. 1Shift is in its final stages of development under LiteLink Labs Inc., a niche blockchain technology business recently acquired by LiteLink Technologies.
1SHIFT’s mission is to create a solution that avoids the need to micro-manage shipments, and building a worry free transparent environment.
The LiteLink team is a group of talented professionals with backgrounds in artificial intelligence, predictive analytics, strategy, finance, marketing, and management.
Ashik KarimCEO
Mr. Karim has over 2 decades of global technology leadership experience in the telecommunications & high tech sectors driving change on how enterprises use business technology. He has taken several software platforms through full commercial use with large clients such as TELUS, Wind Mobile, and MDA. In the second half of his career, Mr. Karim furthered his portfolio by focusing on start-ups that disrupt enterprise software & consulting companies with AI, blockchain and leading emerging technologies. With his balance of start-up and enterprise platform industry commercialization experience, Mr. Karim brings the right strategy and tactical focus to this business.
Yasmine RoulleauChief Information Officer
Yasmine Roulleau is a strategist and provides consulting services both nationally and internationally to the government, public and private sectors. Her ability to take technology platforms from start-up to exit and her extensive knowledge of regulatory requirements and commercialization of data are key assets as a strategic advisor to blockchain and cryptocurrency.
David KwokChief Financial Officer
David Kwok (CPA, CGA) has over 15 years of experience working for public companies in various management roles. He has held the positions of Operations Controller & Business Administration Manager for Capstone Mining Corp., and Divisional Controller for Xstrata PLC and subsequently for Glencore PLC after the two companies merged. Recently, he provided financial & business consulting services for the publicly traded blockchain companies BTL Group Ltd., Victory Square Technologies and a private internet infrastructure company
Kent ChurnExecutive Delivery
Mr. Churn was the Managing Partner at Accenture that ran the Program Delivery for large technology programs at TELUS and Bell Mr. Churn has an arsenal of strength in operations, delivery, sales, and customer adoption in enterprise technology CRM and billing systems.
Jason LawrenceChief Technology Officer (Interim)
Mr. Lawrence has over 20 years delivery experience. He has spent the last 7 years on building high performing delivery organizations for several organizations. His background is technical architecture, design, delivery, and program management with an emphasis in Logistics, Finance, Pharma, Telecom, and Government Sectors.
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