PALM BEACH, Florida, February 1, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
Despite a recent drop in the global cryptocurrency market which appears to be stabilizing at the moment, the overall sense around the new industry remains one of optimism as new currencies continue to emerge. Blockchain technology advancements also continue to develop and gain momentum as well, as the diversity and usefulness of the technology continues to assert itself as immensely valuable for both consumers and businesses in everyday operations. Many believe Blockchain technologies are going to digitize the world. For example contracts are going to be embedded in digital code and stored in transparent, shared databases. Blockchain will undoubtedly have a tremendous effect on operations across many levels of business transactions. Active companies today include: Block One Capital Inc. (TSX-V: BLOK), Marathon Patent Group Inc. (NASDAQ: MARA), Glance Technologies Inc. (OTC: GLNNF) (CSE: GET), Long Blockchain Corp. (NASDAQ: LBCC), Global Blockchain Technologies Corp. (OTC: BLKCF) (TSX-V: BLOC).
Block One Capital Inc. (TSX-V: BLOK.V) is pleased to announce that the board has, effective immediately, appointed Mr. Sothi Thillairajah as Chief Executive Officer of the Company and appointed Dr. Pratheev Sreetharan as the Chief Technology Officer and Entrepreneur in Residence. In addition, Mr. David Berg has been appointed as the Chief Investment Officer effective immediately.
Mr. Sothi Thillairajah cofounded Finzat Block LLC and is guiding development of the company's mortgage blockchain solution. Mr. Thillairajah was a Managing Director at Revere Capital Advisors in New York City where he formulated and executed capital raising and business development for early stage companies. His recent projects have focused on medical technology solutions addressing the North American opioid epidemic, and industry specific blockchain solutions. Over his career with Nomura, Commerzbank and Societe General, Mr. Thillairajah has worked on projects in Europe, Africa and Latin America, and developed an extensive network of relationships inclusive of global financial institutions, sovereign-wealth funds and family offices. Mr. Thillairajah earned a B.A. Cum Laude in Economics at the University of Rochester and holds an M.B.A. in Finance and Statistics from the University of Chicago. Read this and more news for Block One Capital at: http://www.marketnewsupdates.com/news/blok.html
Dr. Pratheev Sreetharan received his A.B., M.S., and PhD in Applied Physics from Harvard University and has been recognized for developing a novel, origami-inspired manufacturing process capable of making complex, miniature devices with unparalleled speed, accuracy and repeatability. Dr. Sreetharan is highly proficient in mathematics and computational algorithms and has broad background across many technical and scientific fields. Dr. Sreetharan was named a recipient of the prestigious TR35 Award, given each year to the top 35 innovators in the world under the age of 35 as determined by Technology Review Magazine, published by MIT. Dr. Sreetharan has also had his work featured in the Wall Street Journal, Business Week, MIT Technology Review, Scientific American, on the Discovery Channel and National Public Radio.
In other industry news and developments:
Marathon Patent Group Inc. (NASDAQ: MARA) closed Wednesday up over 10% at $3.21 with over 3.6 million shares traded by the market close. The company recently announced that it has entered into a purchase agreement to acquire four patents related to the transmission and exchange of cryptocurrencies between buyers and sellers. Merrick Okamoto, Marathon's Interim Chief Executive Officer stated, "Given our proficiency in identifying and acquiring important intellectual property, we believe that these patents afford us a unique and leverageable position, in addition to complementing our efforts as we enter into the digital asset and cryptocurrency business." As with any new and emerging technology the Company's efforts to enter into businesses involving digital asset mining and cryptocurrency patent licensing and enforcement is subject to significant risk and we may not be successful.
Glance Technologies Inc. (OTCQB: GLNNF) (CSE: GET.CN) recently announced it is making a normal course issuer bid through the facilities of the Canadian Securities Exchange. Under the Bid, Glance will purchase up to 6,500,000 common shares of the currently issued and outstanding common shares of Glance. The normal course issuer bid start date will be Monday, February 5, 2018 and will not extend beyond 12 months. The firm Glance will be using is Echelon Wealth Partners Inc. Any purchases will be made by Glance at the prevailing market prices of the shares at the time of purchase. All shares purchased will be cancelled. The actual number of shares purchased, timing of purchases and the price at which the shares are bought will depend upon future market conditions and potential alternative uses for Glance`s cash resources.
Long Blockchain Corp. (NASDAQ: LBCC) closed up over 9% on Wednesday at $3.10. Last week, the company announced it has formed a "Blockchain Strategy Committee" to help focus the company's shift toward blockchain technology. This announcement comes six weeks after the company said it was changing its name from Long Island Iced Tea Corp., and its focus "towards the exploration of and investment in opportunities that leverage the benefits of blockchain technology." The company said the new committee will be chaired by board member Shamyl Malik, who is currently the global head of trading at foreign exchange trading firm Voltaire Capital. Long Blockchain shares tumbled 8.2% in afternoon trade, putting them on track for a fifth-straight loss to a six-week closing low. It has lost 16.5% over the past 12 months, while the S&P 500 SPX, +0.05% has gained 24.6%.
Global Blockchain Technologies Corp. (OTC: BLKCF) (TSX-V: BLOC.V) earlier this week announced a business update and a summary of recent activities. Global Blockchain Technologies Corp. listed on the CSE - On Monday, January 22, 2018, the Company commenced trading on the Canadian Securities Exchange (CSE) under the same ticker "BLOC". Effective at the close of business, Friday, Jan. 19, 2018, the common shares of the Company were no longer listed on TSX Venture Exchange at the request of the company. As a result of the switch, some wires and stock quotation services/websites have failed to pick up Company news over the course of the last week. Company Secured 100MW of Power in North America - On January 25, 2018, the Company called a trading halt at 9:02 a.m. ET to announce that it had entered into an agreement with a turnkey mining operator ("Montana Agreement") to operate Global Blockchain's 6,666 Antminer S9 bitcoin miners, with anticipated delivery commencing in March 2018, which will allow it to secure 100MW of power in North America. The Company's industry-leading energy and mining partner has already made 64MW available, and the balance will be available in early Q2.
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