PALM BEACH, Florida, September 13, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
The multi-billion dollar blockchain market has emerged as a powerhouse in the financial services sector as transactions become increasingly digital and in turn, open to numerous risk factors. The global blockchain technology market size is expected to reach USD 7.59 billion by 2024, according to a new report by Grand View Research, Inc., registering a 37.2% CAGR during the forecast period. Increasing demand for this technology across financial services, consumer or industrial products, technology, media and telecom, healthcare, transportation, and public sectors is largely responsible for market growth. According to Grand View, the market is expected to exhibit significant growth owing to abundant benefits provided by this technology, such as eliminating need for any financial institution to authenticate transactions, eliminating reconciliation, reducing duplicative recordkeeping, facilitating faster settlement, and minimizing error rates. This technology allows access to databases from everywhere, thereby allowing multiple institutions to use it simultaneously to bring different systems nearer and help improve efficiency. Active companies today include: Block One Capital Inc. (TSX-V:BLOK) (OTC:BKPPF), LexinFintech Holdings Ltd. (NASDAQ:LX), Fiserv Inc. (NASDAQ:FISV), Seven Stars Cloud Group Inc. (NASDAQ:SSC), Global Blockchain Technologies Corp. (CSE:BLOC) (OTC:BLKCF).
Block One Capital Inc. (TSXV:BLOK.V) (OTCQB:BKPPF) BREAKING NEWS: Block One Capital, an investment company focused on early stage and high growth opportunities in the blockchain sector, is pleased to provide the following corporate update.
Finzat Block LLC., a Block One Capital portfolio company, announced that Alex J. Pollock has become a Senior Advisor to the firm. Mr. Pollock, former President and CEO of the Federal Home Loan Bank of Chicago, will provide Finzat with guidance regarding business strategy, product innovation, and executive leadership.
"Blockchain is emerging as a potential paradigm-shifting technology in mortgage finance. I look forward to working with Finzat Block on using blockchain to restructure the technological underpinnings of mortgage market transactions," Mr. Pollock said.
Mr. Pollock is currently a distinguished senior fellow at the R Street Institute in Washington, DC. Previously, he was a resident fellow at the American Enterprise Institute. As President and CEO of the Federal Home Loan Bank of Chicago from 1991 to 2004, Mr. Pollock was the creator of the MPF mortgage origination program that was the first to provide community financial institutions a way to share credit risk and provide a meaningful alternative to selling mortgages to Freddie Mac and Fannie Mae.
Mr. Pollock currently serves as a director of the CME Group (Chicago Mercantile Exchange), Great Lakes Higher Education Corporation and the Great Books Foundation, and is a member of the Advisory Board of the Heller College of Business at Roosevelt University. He was also the past-President of the International Union for Housing Finance.
Mr. Pollock has written extensively on economic cycles, risk and uncertainty, mortgage markets, central banking and the politics of finance. His new book, "Finance and Philosophy", is expected to be published by Paul Dry Books in October of this year.
Mr. Pollock is a graduate of Williams College. He completed his MA at the University of Chicago and MPA in international affairs at Princeton University.
"We are fortunate to have Alex's considerable experience and mortgage market knowledge on the team as Finzat strives to bring the benefits of blockchain into the mortgage mainstream", said Gnanesh Coomaraswamy, Finzat founder and CEO. Read this and more news for Block One Capital at: http://www.marketnewsupdates.com/news/blok.html
In other industry news and developments:
Fiserv Inc. (NASDAQ:FISV) earlier this week announced that the oldest and largest bank in Hawaii, First Hawaiian Bank, is making banking more convenient for its customers by enabling them to interact with their accounts via the First Hawaiian Bank skill for Amazon Alexa. The new voice capabilities are a first for a financial institution based in the state, and align to the bank's focus on providing the greatest convenience and the best customer experience. First Hawaiian Bank is utilizing Voice Banking: Amazon Alexa from Fiserv to enable customers to check balances and access transaction information, answering the most frequent requests made by bank customers. This initial set of capabilities will be available to customers this month, and First Hawaiian Bank will evaluate additional capabilities based on customer interest and demand and use of voice banking. "Our customers want the freedom to choose how they interact with us," said Eric Yeaman, President & COO, First Hawaiian Bank. "We have been working with Fiserv for several years to enhance our digital services and empower our customers with a wider range of choices in banking convenience. With voice-driven technology playing a bigger role in people's lives, the time was right to introduce voice banking into that mix."
Seven Stars Cloud Group Inc. (NASDAQ:SSC) recently announced a Joint Venture (JV) with Asia Times Holdings, to be named Asia Times Financial Limited. Asia Times Financial will focus on the digital economy, through asset digitization indicators and derivative product production, providing next-generation financial information services through a combination of AI-enabled financial data and analytics that will be delivered to the investor community via end-to-end encrypted instant messaging services that can work in parallel with blockchain-based financial services. The unique partnership of digital asset production, trading, and data, with branded indices, research and networking, delivered over direct messaging channels, will create a community for investors in the digital economy and enable the transparency required for modern risk management and investment strategy decision-making.
Global Blockchain Technologies Corp. (CSE:BLOC.CN) (OTCPK:BLKCF) earlier this week announced it has made several key developments since the Laser network's crowdsale began on September 3rd. Over the course of the previous week, the Company began a roadshow in Europe to generate interest from investors and infrastructure providers. The result of this, combined with existing investor relations efforts, has resulted in confirmed interest from several institutional investors for participating in the crowdsale, as well as numerous infrastructure providers in the blockchain network space for operating servicenodes. Such providers were screened based on their technical resources, and their reputation for reliably providing similar services to others in the blockchain space. The roadshow will continue with stops in Asia, with many more prospective investors and infrastructure providers known in this region. Starting this week, individuals who have registered their interest in the Laser network's crowdsale on the Investors page will be contacted to begin the next steps for their investment.
LexinFintech Holdings Ltd. (NASDAQ:LX), a leading online consumer finance platform for educated young adults in China, attended LendIt Fintech China 2018 in Shanghai, where its CEO gave a speech highlighting industry changes and the Company's latest technological innovations. China's fintech industry, after years of rapid development, has entered a new stage when compliance and fintech capabilities have become the keys to the long-term growth of a company, Lexin's CEO Jay Wenjie Xiao told LendIt China. "It's like the halftime of a match," he said, referring to the beginning of a new market landscape where there will be more industry consolidation and increasing regulatory clarity. Compliance will become a competitive edge for industry players and as China is increasingly looking to make consumption the driving force of economic growth, consumer finance providers can play a part by helping consumers enhance their ability to pay, Xiao said.
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