PALM BEACH, Florida, March 6, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
The growth of blockchain technology has been truly remarkable over the past several months. Grand View Research projects the global blockchain technology market to grow from $604.5 million in 2016 to a staggering $7.74 billion by 2024. Companies like NVIDIA Corp. (NASDAQ: NVDA), Overstock.com (NASDAQ: OSTK), Hive Blockchain (TSX-V: HIVE) (OTC: HVBTF), BTL Group Ltd. (TSX-V: BTL) (OTC: BTLFF) and Global Blockchain Technologies Corp. (CSE: BLOC) (OTC: BLKCF) are currently making significant moves in this space, sparking its massive growth and bringing investor awareness to this growing industry.
Many think of blockchain as simply the technology that powers cryptocurrencies such as Bitcoin, Ethereum or Litecoin. But the real driver of the growth in the blockchain market is the surging demand for blockchain technology across a wide variety of industries.
Many of the biggest names in banking, technology and government are racing to adopt blockchain technology. Big names such as Goldman Sachs, Bank of America, Google, Microsoft, and IBM are at the forefront of this movement. A recent report from IBM proclaimed that the banking industry "is hurtling toward blockchain adoption far faster than many expected." This isn't just happening in banking. Blockchain is beginning to transform a huge range of industries, including a few that might surprise you.
Blockchain Is Capturing Moments In Photography
Many agree that blockchain is the next breakthrough technology changing our world, and where there is change there are opportunities. This is why billions of dollars have been invested in it.
One company that's made a serious commitment to blockchain investment is Global Blockchain Technologies Corp. (CSE:BLOC); (OTC: BLKCF). The company is a private equity fund and incubator that has invested millions of dollars in a diverse set of industries implementing the technology.
Most notably, Global Blockchain is the lead investor in Eastman Kodak's upcoming Kodak Coin ICO, which is set to become the first major cryptocurrency launched by an NYSE-listed company. The Kodak Coins would allow photographers to archive their work and make payments. Most importantly, blockchain allows artists to register their works and make transactions without any copyright issues - this would solve the biggest problem in this field.
Global Blockchain has subscribed for all 8 million coins that were made available. This means that the only way for retail investors interested in participating in the ICO would be through Global Blockchain.
A Game-Changing Technology For The Gaming Industry
The new wave of blockchain investments also inundates the gaming industry. Last month, Global Blockchain Technologies Corp. invested $2 million into Millennial Esports Corp., also launching its own blockchain-based token. As part of this deal, Global Blockchain also acquired Eden Games' popular mobile racing game Gear.Club, which has been downloaded more than 6.5 million times already.
It is said that the application of blockchain in gaming could enhance the user experience and the entire gaming community. This is why Global Blockchain is also an enthusiastic investor in this space.
Similar to gaming, another area that could be upgraded with blockchain is media content. Global Blockchain has also been on the forefront of that, investing $3 million into Breaking Data Corp. as an introduction to blockchain technology in the GiveMeSport ecosystem and sports media in general.
Sports Betting Companies Betting Big On Blockchain
That's not all. The blockchain technology may also revolutionize the $400 billion sports betting industry. Seeing the potential of a secure and efficient sports betting platform built on blockchain, Global Blockchain Technologies Corp. invested $2 million in the private token offering by MEvU. This transformative platform offers a self-regulating way for users to place bets against other users, bypassing a bookmaker, which used to be essential for any betting environment.
The most significant outcome for a platform like MEvU is that we're no longer subject to those extortionate fees charged by bookmakers. For example, MEvU would reduce a bookmaker's cut from out bets from 10% to 3%. This means more people would be willing to join in on the fun.
Bitcoin Mining Not Slowing Down Either
The emergence of Bitcoin last year made everybody realize the potential of blockchain technology. Cryptocurrency truly put blockchain on investor's radar, since blockchain is the underlying technology that powers cryptocurrency.
Since the supply of Bitcoin is limited to just 20 million in total, Bitcoin mining has become a big driver of investment as many believe its value could only go up. Bitcoin mining companies have been popping up all over the world, setting up camps to "mine" a valuable asset that only exists in a virtual parallel. It's said that Chinese miner Bitmain earned a profit of $4 billion from its operations.
Colder regions around the world have become a "hotbed" for mining because they're able to cool down the machines. Realizing this, Global Blockchain Technologies Corp. has created its own mining division by acquiring Coinstream, which has facilities in the province of Manitoba. The company also invested in software company Distributed Mining Inc. to supplement its mining operations.
The company is backed by founders and early adopters of all major cryptocurrencies - such as Ethereum co-creator Steven Nerayoff - as well as the creators of the ICO revolution. Advisory board members include legendary investor Jim Rogers, renowned Internet leader Jeff Pulver, venture investing expert Gary Rubinoff…and many others.
Other Companies In The Blockchain Technology Space
NVIDIA Corporation (NASDAQ: NVDA) - Market cap: US $148.5 billion - This visual gaming company offers investors seeking lower-risk exposure to blockchain technology an attractive choice. NVIDIA Corp. makes graphics cards that are used to mine cryptocurrencies and more than one analyst has stated publicly that demand for NVIDIA's chips could increase thanks to a growth in applications for blockchain technology.
Overstock.com (NASDAQ: OSTK) - Market cap: US $1.5 billion - Overstock.com operates as an online retailer in the United States and started accepting payments in Bitcoin back in 2014. In addition, the company has a subsidiary that is focused on developing blockchain technology and it has recently launched a joint venture for a global property registry.
Hive Blockchain (TSX-V: HIVE.V) (OTC: HVBTF) - Market cap: US $595 million - Hive Blockchain Technologies Ltd. Is a growth-oriented company building a bridge from the blockchain sector to traditional capital markets. HIVE is strategically partnered with Genesis Mining Ltd. to build the next generation of blockchain infrastructure. HIVE owns state-of-the-art GPU-based digital currency mining facilities in Iceland, which produce newly minted virgin digital currency like Ethereum around the clock, and is in the midst of a major expansion of operations into Sweden.
BTL Group Ltd. (TSX-V: BTL.V) (OTC: BTLLF) - Market cap: US S$191 million -- BTL is an enterprise technology platform provider that is developing Interbit, a proprietary next generation blockchain platform. Via Interbit, BTL can help companies greatly reduce risks and costs by securely streamlining existing IT infrastructures. BTL has successfully demonstrated how Interbit can innovate and transform existing business processes for leading companies in the finance, energy and gaming sectors.
Blockchain Disrupting Every Corner Of Our Economy
We are now entering a stage where the blockchain technology is being used to solve the biggest problems faced by every sector and improve our experiences. This is not just about Bitcoin and cryptocurrency anymore, it's about the diversity of potentially game-changing applications.
New and creative ways to use blockchain are constantly emerging. Companies like Global Blockchain Technologies Corp. are now showing us that this technology can extend even beyond the mainstream sectors like finance that we originally thought of. Much like the Internet, blockchain is set to disrupt every corner of our economy.
Backed by an experienced team of innovators, Global Blockchain is pursuing opportunities in almost any industry you can think of that could benefit from the technology, such as photography, gaming, and sports betting, making it a potential pioneer in the blockchain space. Coupled with the more traditional crypto mining business that still has room to profit, the company has proven that it's everywhere in this business.
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