Canadian blockchain company expands into Wyoming

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CHEYENNE, Wyo. (AP) - Canadian blockchain company BlockCrushr Labs has opened its first Wyoming office.

BlockCrushr Labs develops and commercializes the new blockchain technology.

The company opened its office in Cheyenne just before the state Legislature convenes to consider proposals that would encourage more such businesses to operate in the state.

The Wyoming Tribune Eagle reports that the company has filed for a Wyoming subsidiary, BlockCrushr Wyoming LLC.

Founded in April 2016, the company's leading product is TokenClub, a monthly initial coin offerings subscription service. Similar to a Kickstarter campaign, initial coin offerings use blockchain-based tokens, or cryptocurrency, to raise money for various causes. This can be used to ensure funds are going to their intended destination.

Blockchain is a place to securely store documents, information or cryptocurrency.

Information from: Wyoming Tribune Eagle, http://www.wyomingnews.com

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