DENVER, Jan. 27, 2018 /PRNewswire-PRWeb/ -- CellBlocks is set to become the first cryptocurrency to provide a digital solution to an outdated, inefficient, and sometimes corrupt monetary system within correctional facilities. CellBlocks, a solution that was created to help make financial transactions within prison systems more secure, transparent, accurate, and uniform, is not only unique because of what it is, but also because of its astounding capabilities. It will be the only decentralized cryptocurrency to make its way in to the United States prison system.

About CellBlocks

In 2017, CellBlocks was developed to be an effective alternative to a slow and inefficient prison financial network, as well as to reduce the violence associated with inmate-to-inmate money transfers. CellBlocks is now ready to give federal and state inmates a swift, secure, and efficient payment system that will let them send and receive digital assets through virtual "wallets" in real time.

The current problem with the U.S. prison payment system

For years now, correctional facilities have struggled with poor financial systems that leave inmates vulnerable to negligence by those in charge of their funds as well as outright deception by other inmates. With a population of over 2 million people currently locked up in U.S. prisons, the financial systems designed to help inmates make purchases or pay for the services they use in prison don't always work as designed.

The pay systems currently used in prisons charge exorbitant fees to deposit and transfer money into inmate's personal accounts, hugely reducing the amount that finally gets to the inmate. Additionally, money in inmate's private accounts is often easily accessible by those with access into the system.

Some prison personnel have been reported to use this access to take money away from inmate's private accounts, and such inmate's rarely get reimbursed for the stolen funds. The payment system also presents other challenges such as a lack of transparency, accountability, efficiency, and is excessively time consuming.

View the CellBlocks white-paper at https://cellblocks.io/whitepaper.pdf to see all the inefficiencies associated with the current U.S. prison payment system.

CellBlocks: Providing the solution

With all these challenges facing the U.S. prison payment system, a modern-day solution by CellBlocks is set to resolve all these problems within the payment system. In fact, letters from prison wardens, package mailing companies, and even inmates have already come through to show the support for this project.

Joe Lizarraga, the Mule Creek State Prison Warden says "CellBlocks appears to have the potential for our inmate population and for the personnel", while Joel Martinez, the Sierra Conservation Center warden agrees and says "We have submitted your coin info for consideration and possible implementation."

CellBlocks is set to offer: a transparent payment system, real-time transactions, 100% funds security, reduction of violence in prisons, labor reductions, and faster inmate package-delivery services.

Initial Coin Offering

CellBlocks will be offering prepayment of CLBK Tokens at the initial market value of 0.10 USD per CLBK Token with a limit of 150,000,000 tokens. The sale starts on April 1st 2018 (10 a.m.) and stays on for 61 days, which is up to June 1st 2018 (10:a.m.). You can purchase the tokens with Bitcoin, Bitcoin Cash, Ethereum, Litecoin or through wire transfer.

Interested parties can find out more about CellBlocks at https://cellblocks.io/

SOURCE CellBlocks