TAAL Distributed Information Technologies Inc. announced that it has appointed Jerry D. Chan to the positions of President and Chief Executive Officer (CEO) of the Company. Mr. Chan is a 15-year veteran of Wall Street technology, having worked at Goldman Sachs and JPMorgan Technology in the FX, FICC, and Equities GSAT trading desks in both New York and Tokyo. He has expertise in financial systems, global markets, risk management and trading systems. Prior to joining TAAL, Mr. Chan headed the Digital Asset Solutions department of SBI Group, a financial conglomerate in Japan which has a significant investment in the blockchain industry, and also worked as Regional Manager for the Bitcoin Association.

Mr. Chan's vision is that blockchain technologies will bring on a revolution to the existing financial and economic markets, kickstarting a new era of monetization of the internet. Angela Holowaychuk will be stepping down as CEO of the Company and has been re-appointed Chief Operating Officer ("COO"). Separately, Joseph Chin, Chief Mining Officer of TAAL will be leaving the Company in June.

Mining operations are anticipated to transition to the direct oversight of the COO. Additionally, the company announced that Jimmy Nguyen will be stepping down from the Company's Advisory Board. Mr. Nguyen is President of the Bitcoin Association.

With Bitcoin SV growing rapidly, Mr. Nguyen is increasingly being called upon, by virtue of his leadership role with the Association, to address issues that affect the entire ecosystem. Seeking to remain as objective as possible, Mr. Nguyen has been withdrawing from and declining advisory board positions, directorships and similar roles with companies involved with Bitcoin SV. His departure from the Company's Advisory Board is part of this process and is not unique to TAAL – Mr. Nguyen remains on the best of terms with the Company's management and its board of directors and the Company will informally consult with Mr. Nguyen on a regular basis going forward.