The U.S.-based WRIT Media Group has announced its plans to develop additional strategies for the Pelecoin’s blockchain technology. The company formally launched Pelecoin earlier this week, which it acquired through the previously announced Pandora Venture Capital transaction.

Pelecoin is a cryptocurrency platform that provides secure digital currency products and services -- including wallets, exchanges, loyalty rewards, and merchant integration -- to consumers and businesses around the globe. The online platform allows users to send money to any Pelecoin wallet; send and receive Pelecoins; shop online; and to store Pelecoins.

The company announced on Wednesday, its plans to develop the Pelecoin’s distributed ledger technology into innovative products and applications. Features like open and distributed nature of the "record keeping" in Pelecoin transactions guarantees that the evidence of ownership is reliable. It also ensures the reporting of transactions is verifiable and secure.

The company intends to develop this technology into the following products and applications:

• Currency trading
   
• Video game loyalty rewards
   
• Crowd funding

The company also intends to partner with leading content creators, owners, distributors and other creative institutions to enable content owners to protect their work from copyright infringement and other illicit uses. For this, WRIT Media Group wants to develop tracking software which uses its proprietary Pelecoin Blockchain technology.

WRIT Media Group, Inc. is a media and software company whose operations include content production and distribution; video games distribution through mobile platforms and digital currency software development, including trading platforms and blockchain solutions. The company’s fully owned business includes Front Row Networks, Amiga Games and Pandora Venture Capital.