PLAM BEACH, Florida, August 15, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
Whilst blockchain technology emerges as today's revolutionary technology, it is quickly transforming a growing number industries while the cost-effective data processing is now allowing data center developers to run more efficiently resulting in a higher level of energy consumption management. Operations have exploded across the Globe and is presenting local companies with an amazing opportunity to step up and start taking part in creating mega facilities disrupting data center infrastructure, especially in the avenue of Cryptocurrency. A growing number of investment firms are investing millions into the development and deployment of Blockchain technology to boost local data centers efficiency, as well as enhance mining operations. From its initial use as the technological architecture underlying cryptocurrencies like Bitcoin, Blockchain has grown in popularity to the point that now an ever-increasing number of data centers and industries are harnessing the innovation for more capable operations. Active companies in the markets this week include Epazz, Inc. (OTC:EPAZ), MGT Capital Investments, Inc. (OTC:MGTI), Overstock.com (NASDAQ:OSTK), Riot Blockchain, Inc. (NASDAQ:RIOT), SinglePoint Inc. (OTC:SING).
Epazz, Inc. (OTCPK:EPAZ) BREAKING NEWS: Epazz, a leading provider of blockchain cryptocurrency mobile apps and cloud-based business software solutions, announced that the company filed a provisional patent for blockchain energy consumption management technology for use in Bitcoin data centers. The company will use its EnergyVIEW solution in wastewater treatment facilities to save on the energy consumption in data centers used to mine Bitcoin. EnergyVIEW is an important automation component of integrated plant management and control systems.
EnergyVIEW provides real-time energy consumption data for plant managers. This same technology can be use for data centers that mine bitcoin and other complex computing activities, such as high frequency trading. Data centers demand an increasing use of energy, similar to water and wastewater facilities. EnergyVIEW technology can provide a way to decrease the energy cost for data centers.
According to Forbes, "Bitcoin's current estimated annual electricity consumption is 61.4 TWh, which is also equivalent to 1.5% of the electricity consumed in the United States." Additionally, Joule's new study estimates that mining for Bitcoin consumes at least 2.6 GW of power, equivalent to what Ireland consumes in electricity yearly. This figure could rise to 7.7 GW in early 2019, which would account for close to half a percent of the world's electricity consumption. According to the Crescent Electric Supply Company, the estimated electricity can "cost between $3,224 to $9,000 to mine a single Bitcoin."
The company is taking the technology from EnergyVIEW and adopting it and enhancing it for special use in Bitcoin mining to reduce the cost of energy consumption. From the filed patent, the blockchain energy consumption management technology will monitor the energy used in the data center and provide users with information they need to analyze the energy usage. Then, the data center can take steps toward better energy usage to increase efficiency and reduce energy costs. Once the technology is converted for this growing multibillion-dollar market, the company will begin to market the solution for an annual license fee.
Some of the features in development for the Bitcoin data center include tracking historical data. The current usage is helpful, but historical data can give you a larger picture of your energy use. The data center usually has peak demand times and tracking these times provides an opportunity to reduce energy costs. Energy theft is a serious problem for many shared data centers. The power meter monitors energy use patterns and changes in the patterns. The patent covers ways to detect theft and short-circuit it.. Read this and more news for Epazz at: http://www.marketnewsupdates.com/news/epaz.html
Other recent developments in the tech industry include:
MGT Capital Investments, Inc. (OTCQB:MGTI) announced this week it entered into a collaborative venture with Bit5ive LLC to design and manufacture a crypto mining pod capable of operating 1MW of mining hardware. The pod will be branded and sold by Bit5ive as POD5, with MGT retaining naming rights for its corporate owned pods. In return for royalty payments from Bit5ive, MGT is providing its engineering and design expertise as well as capital to develop the final production model. Orders are expected to begin in mid-September 2018. The POD5 will be a fully-assembled containerized turnkey solution with all mounting racks, cabling, power distribution hardware, wiring, and networking included.
Medici Ventures', a wholly-owned subsidiary of Overstock.com (NASDAQ:OSTK), Barbados-based fintech portfolio company Bitt, Inc. announced it has signed a Memorandum of Understanding (MOU) with the Centrale Bank van Curaçao en Sint Maarten (CBCS) to explore the feasibility of the CBCS issuing a digital Curaçao and Sint Maarten guilder to facilitate digital financial payments within the monetary union of Curaçao and Sint Maarten. The parties signed an MOU on August 3, 2018, representing the culmination of talks which began in April 2018 during the CBCS' second Central Banking Conference. This MOU solidifies the relationship between Bitt and the CBCS and outlines the basic framework for this collaborative effort in order to determine the way forward.
Riot Blockchain, Inc. (NASDAQ:RIOT) announced in late July the beta development of its own private Bitcoin Mining Pool. Mining pools are groups of miners that work as a team and contribute their hashing power to solving computations that secure the blockchain. By pooling resources, miners increase the odds and consistency of receiving block rewards, which are the fees collected as part of Bitcoin's "proof of work" security model. Securing the Bitcoin network is based heavily on the distributed nature of mining power. As mining pools have become more popular, higher percentages of the global hash rate have become centrally managed. This centralization has created potential security concerns within the Bitcoin community. The Company is privately testing its own mining pool platform intending to provide an alternative to major players such as AntPool and BTC.com, which are owned and operated by Bitmain.
SinglePoint Inc. (OTCQB:SING) last week provided an overall company update including revenue, Form 10, acquisitions. SinglePoint over the past year has been able to successfully integrate its acquisitions and reported revenues of over $188,000 for the first quarter of 2018, which represents a significant increase as compared to the first quarter of 2017. This revenue increase has been generated by successful acquisitions continuing to grow and operate, including DIGS and JAG. Acquisitions have been a key factor in starting to build a solid financial base and we intend to continue to grow the company. We hope that our growth will continue both organically and with larger investments and or acquisitions which can further solidify our financial position. Read more SinglePoint is a technology and investment company with a focus on acquiring companies that will benefit from our management, potential injection of growth capital and technology integration. The company portfolio includes mobile payments, ancillary cannabis services and blockchain solutions.
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