PALM BEACH, Florida, September 26, 2018 /PRNewswire/ --
Financialnewsmedia.com News Commentary
Two hot topics in finance and technology are Blockchain and Fintech, with each posing numerous opportunities for revenue generation as financial transactions become increasingly digital. According to FinTech global, there has already been north of $40 billion in the first half of 2018. Blockchain, a multi-billion dollar segment itself, is making waves in Fintech through its increasing presence as Fintech leaders leverage the technology to create more secure and efficient transactions. A good reason for all for the building excitement is that the Blockchain technology allows the exchange of value peer-to-peer globally, in real time, for almost free, in a trusted and secure mechanism. The Blockchain allows the financial system to deliver the processing engine for value exchange: I want to exchange value - connect me with the right value tokens and value stores to exchange. Active tech companies in the markets this week include: Sino United Worldwide Consolidated Ltd. (OTC: SUIC), Seven Stars Cloud Group Inc. (NASDAQ:SSC), Riot Blockchain Inc. (NASDAQ:RIOT), Global Blockchain Technologies Corp. (CSE:BLOC) (OTC:BLKCF), Xunlei Limited (NASDAQ:XNET).
Sino United Worldwide Consolidated Ltd. (OTCPK: SUIC) BREAKING NEWS: Sino United Worldwide is pleased to advise that the company has established a FinTech Division in the Asian region, to venture in businesses based on Blockchain technology and in cryptocurrency opportunities The company will become a key contributor and builder of the blockchain and fintech ecosystem.
SUIC Blockchain technology will further the effective technological interventions into personal and commercial finance through legal use of Blockchain development applications as FinTech and Financial Services are continuously coming together. The anonymity in an unregulated market that Blockchain technology and cryptocurrencies can offer has attracted many cybercrime and fraud opportunities, coupled with the apprehension of the looming demise of fiat currencies, and the lack of assets backing the numerous cryptocurrencies that have entered the market. SUIC is developing its Blockchain technology that addresses and interlocks these challenges by designing reliable and safe decentralized data storage, cybersecurity and quality FinTech services, as more banks and other financial companies adopt, attracted mainly by its decentralized and transparent nature which translates to less transaction costs and less time consumption.
SUIC has identified 7 key market segments that are complementary and will help strengthen our presence in the fintech market. The 7 segments are as follows: "Media and Events", "Dapps Development", "PR/Marketing", "ICO Consultancy", "Education,Training", "Blockchain Development", and "Venture Capital." These key projects will be incorporated to be a core organizational strength in the future.
SUIC will enter into joint venture or investment with companies that specialize in these market segments to provide full range of blockchain services. We believe that under the leadership of Chairman Ong Tee Keat, the former Minister of Transportation of Malaysia and deputy Speaker of the House of Commons of the Malaysian Parliament, SUIC will be able to appeal to a globalized clientele. Thus achieving the status of a leading global platform in the Blockchain and FinTech sector. Read this and more news for SUIC at http://www.financialnewsmedia.com/news-suic
Other recent developments in the industry include:
Seven Stars Cloud Group Inc. (NASDAQ:SSC) recently announced the promotion of Robert G. Benya, to Executive Vice Chairman, (formally Ideanomics President & Chief Revenue Officer) and Alfred P. Poor, as Chief Operating Officer. "Robert and Alfred are exceptional executives with extensive start-up experience, product innovation achievements, and have successfully built very large and expansive new businesses. Under their leadership, the Ideanomics' team is growing rapidly and these appointments puts us in the perfect position to be the global leader in asset digitization, securitization and tokenization." Said Mr. Bruno Wu, Chairman and Co-CEO of Ideonomics. In a very short period of time, Mr. Wu and Mr. Benya have built and executed the initial phase of Ideanomics' strategic plan via a broad range of fintech merger and acquisitions, attracting world-class leadership talent, substantially growing Ideanomics' revenue and market cap, and building key infrastructures including the company's U.S. global headquarters in NYC's financial district and the Ideanomics' "Fintech Village", in West Hartford, CT on the former UCONN campus, to drive R&D and innovation.
Riot Blockchain Inc. (NASDAQ:RIOT) recently announced that Chris Ensey would be named Chief Executive in connection with a restructuring of the Company's senior executives. Mr. Ensey is expected to continue to aggressively pursue the exploration of the Company's RiotX digital currency exchange under license from Coinsquare and expanded opportunities for digital asset and cryptocurrency businesses. The move follows the resignation of John O'Rourke, the Company's Chairman and CEO. Mr. Ensey has an extensive background in related industries and served as Chief Operating Officer prior to this announcement. He has held roles with Dunbar Armored, SafeNet and IBM including positions in cybersecurity and product development. In addition, current Lead Director Remo Mancini has been appointed as Chairman of the Board of Directors. The Board has created a new Investment and Strategy Committee which will be led by Andrew Kaplan as Chairperson. In connection with the restructuring, Jason Les has been named Interim Chairperson of the Audit Committee. Each of the Company's independent directors will continue to serve on each of the committees of the Board.
Global Blockchain Technologies Corp. (CSE:BLOC.CN) (OTCPK:BLKCF) recently announced that ICOx Innovations Inc. ("ICOx Innovations"), a company which creates loyalty, reward, gaming, and payment cryptocurrencies for established companies that can benefit and grow their business through blockchain technologies and cryptocurrencies, announced on September 10, 2018, that its client, the blockchain-based KODAKOne Image Rights Management Platform and the KODAKCoin cryptocurrency, has struck a partnership with Lobster, an AI and machine learning-driven platform that helps photographers and social media users upload and monetize their photos and videos. Through the partnership, KODAKOne will monitor and protect the 10+ million images and later videos stored in Lobster's database. KODAKOne, which was created and operated by Ryde Holding (formerly WENN Digital, Inc.), is offering three key services through the agreement: an image recognition algorithm that can analyze billions of images within a fraction of a second; a network of web crawlers that monitor the web; and a post-licensing service that helps owners get compensated for their images that have been used without their consent (or that helps them take those images down). In a two-week test campaign, KODAKOne monitored the use of 10,000 images from Lobster's library across the web and found a significant and material number of hits on average for each image.
Xunlei Limited (NASDAQ:XNET) last week announced it has entered into a strategic partnership with Newland Hi-Tech Group Co., Ltd. ("Newland") (the "Strategic Partnership"). Newland is a leading international integrated service provider of electronic payment products. It has been developing a "Digital Citizen" program in China, which is aimed to provide innovative public services for citizens. Through the Strategic Partnership, Xunlei and Newland will leverage their respective strengths and technology know-how to research and develop new products and services. In connection with the Strategic Partnership, Xunlei also entered into a series of transactions with Beijing LinkChain Co., Ltd. ("Beijing LinkChain"), an associated company of Newland, to transfer the exclusive right to operate LinkToken program within mainland China, including without limitation, the formulation, amendment and execution of the rules governing the rewarding of LinkToken to users, LinkToken Pocket and the LinkToken Mall, and the related assets and liabilities to Beijing LinkChain (the "Transfer").
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