NEW YORK, March 20, 2018 /PRNewswire/ --
NetworkNewsWire Editorial Coverage
Renowned British theoretical physicist Stephen Hawking, before passing away March 14, 2018, recently offered this observation (http://nnw.fm/07THl) about artificial intelligence: "The rise of AI could be the worst or the best thing that has happened for humanity." For those companies immersed in developing blockchain technology, the famous scientist's words underscore the responsibility tech companies shoulder as the integration between this technological trend and the Internet of Things (IoT) opens up promising new frontiers (http://nnw.fm/4cwMz). As a strong proponent of blockchain technology for the finance market's logistics supply chain integrity and high-risk sectors such as legalized cannabis, Global Payout, Inc. (OTC: GOHE) (GOHE Profile) is determined to offer customized solutions based on fintech and blockchain services. Other notable players investing heavily in blockchain technology are Microsoft Corporation (NASDAQ: MSFT), Alphabet, Inc. (NASDAQ: GOOG) (NASDAQ: GOOGL), Overstock.com, Inc. (NASDAQ: OSTK) and CME Group, Inc. (NASDAQ: CME).
Back to the Future
Various market research reports predict that blockchain technology will revolutionize the world. The global blockchain market is projected to reach $60.7 billion in 2024, according to one report (http://nnw.fm/1rAcM). And while the word blockchain isn't nearly as well-known as bitcoin or cryptocurrency, the terms are genetically related, so to speak. Bitcoin founder Satoshi Nakamoto created the original blockchain network as a form of distributed ledger technology to record the encrypted, virtual "bitcoin" currency transactions on a network of computers (http://nnw.fm/PHIt3). Without a central ledger and with each block in the chain of transactions immutable, the cryptocurrency is described as highly secure since each block is encrypted.
As an innovative fintech company, Global Payout (OTC: GOHE) is already providing customized payment solutions for organizations transferring funds throughout the world. The company's next-generation B2B solution, which automates international fund transfers, payments, billing, and invoicing processes, is managed by its Global Reserve Platform (GRP). GRP is a fully configurable, banking-in-a-box web-based platform designed to improve work flow, operational efficiencies and global financial management for enterprises operating around the globe. The GRP provides is currently available in 26 languages; performs currency exchanges worldwide; and offers KYC-compliance for all account holders and merchants (http://nnw.fm/j2uVI).
Logistical Nightmare, Anyone?
One of the top challenges facing the logistics supply chain industry is moving commodities from manufacturer-to-store shelf or direct-to-consumer. This process is costly, cumbersome, fraught with potential pain points, and susceptible to issues relating to political and economic uncertainties (http://nnw.fm/1t6K2). Global Payout's logistics subsidiary, SecurCapital Corp., is centered on a disruptive one-click solution that focuses on solving these supply chain issues in the finance services sector (http://nnw.fm/AElr7).
"Clearly, there has been a monumental paradigm shift in the underserved supply chain finance industry attempting to incorporate a wide breadth of fintech and blockchain alternatives," Global Payout CEO James Hancock recently stated (http://nnw.fm/qSud9). "Traditional financial institutions are not positioned to serve the industry payment requirements for secure access, integrated foreign exchange, speed, international payments or access to adequate working capital."
Global Payout's market focus is on several key industries with proven, ongoing challenges (http://nnw.fm/0IGko). Among the industries Global Payout currently serves through SecurCapital are the shipping industry and its logistics supply chain, which includes suppliers, freight forwarders, warehouse and final mile distributors; the banking industry, which suffers from outdated legacy IT platforms that are expensive to scale, modify and extend; small and medium enterprises that struggle to make and receive international payments with customers, suppliers and merchants; and global travel companies that experience significant financial transaction issues because of currency barriers.
SecurCapital's adaptive platform leverages next-generation fintech solutions to streamline payments and free up working capital for industry-specific requirements and challenges. The company's SecurCloud Platform will be exhibited at a series of upcoming industry-leading fintech and blockchain conferences scheduled in China, the United Kingdom and the United States. (http://nnw.fm/w8JoC).
Global Payout provides global access to technology for optimizing financial transactions, which enables its clients to protect and trade financial assets on a worldwide basis. Grand View Research noted in its Blockchain Technology Market Analysis by Type that the financial services sector accounts for the majority of expected future market growth (http://nnw.fm/5Z2Jq), observing that "the financial sector stands to benefit the most from the technology and has been a proactive partner and investor in the development from its initial stages."
Serving the Unbankables
Stepping into today's "new age" of cannabis-related business ventures means offering alternative banking and electronic payment solutions to an industry that is generating considerable interest among the public and investors. According to an Oct. 25, 2017, Gallup poll, a record-high 64 percent of Americans now say cannabis should be made legal (http://nnw.fm/MSa7P). However, paying for the highly regulated plant remains problematic for consumers and merchants alike, with most transactions taking place in a cash-only environment since cannabis remains illegal at the federal level.
Global Payout subsidiary MoneyTrac Technology, Inc. ("MTRAC") and its PotSaver brand (http://nnw.fm/sUr4H) offer financial technology solutions for companies and businesses in "unbankable" or "high-risk" industries that cater to cannabis consumers (http://nnw.fm/oEj8y). MTRAC's solutions include a payment platform, blockchain security, crypto-commodity exchange, compliance, point-of-sale, e-wallet, mobile application and digital payment solutions for businesses and companies in various high-cost or other industries perceived as alternative.
In California alone, the legal cannabis industry is expected to generate $3.8 billion in 2018 with that number expected to increase to over $5 billion in 2019 (http://nnw.fm/Jrm3Y). Recognizing this opportunity, MTRAC is launching MTRAC-Token™ to combat payment restrictions in the growing cannabis marketplace. MTRAC CEO Vanessa Luna said the token offers a solution to an industry that is heavily restricted in regard to banking accessibility and e-Payment solutions (http://nnw.fm/3PD5f).
Global Payout and its subsidiaries are joined by large corporations in the belief that blockchain technology is worthy of research in a bid to find answers to complex problems plaguing numerous industries.
Microsoft (NASDAQ: MSFT) recently announced its intention to develop a decentralized blockchain-based identity system that would allow "individuals to own and control all elements of their digital identity" http://nnw.fm/dN6bQ. Microsoft's participation as a launch partner with the Enterprise Ethereum Alliance, noted in a separate company blog post (http://nnw.fm/GXn5Z), states Ethereum and the alliance are supported by Microsoft Azure, which offers blockchain-as-a-service tools. Microsoft also stated its belief that blockchain users and regulators should work together on regulatory and security issues as blockchain-based technologies advance.
Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL), the parent company of Google, has emerged as one of the more active backers of blockchain technology in recent years, according to Bloomberg (http://nnw.fm/4qaQy). Alphabet's six reported investments, made through its Google Ventures arm, were part of the $1.2 billion invested in blockchain since 2012 by some of the world's largest corporations, according to CB Insights. Alphabet's investments span a variety of industries from decentralized cloud storage provider Storj-io, to cryptocurrency derivatives-trading platform LedgerX and payments network Ripple, as well as Veem, a global merchant payment provider that uses bitcoin for money transfers, and Buttercoin, an open source digital trading engine (http://nnw.fm/A7a3r). Alphabet company DeepMind is also exploring the use of blockchain to track usage of health care records.
Overstock.com (NASDAQ: OSTK) CEO Patrick Byrne, long a supporter of cryptocurrencies and blockchain technology, disclosed his company received $100 million from the Quantum Fund, which is managed by billionaire George Soros. Byrne said he anticipates $20 million of the new funds would go toward DeSoto Inc., the company's blockchain property rights joint venture with economist Hernando DeSoto. The rest of the funding will be invested across Overstock's flagship e-commerce platform, which accepts bitcoin for payments, and other blockchain ventures that are part of its Medici Ventures subsidiary (http://nnw.fm/xY2z7).
Another player in blockchain-backed efficiency platforms is CME Group (NASDAQ: CME), the world's leading and most diverse derivatives marketplace. On Dec. 15, 2017, Citi and CME Group announced the implementation of a blockchain-inspired platform that would cut costs associated with back-office operations while simultaneously accelerating funding timeframes on margins, according to an article in Ethnews.com (http://nnw.fm/qL0jZ). The system is designed to achieve greater levels of efficiency, which could free up billions in collateral sitting aside as banks await transaction settlements. The technology provides numerous advantages including elimination of manual touch points, reduction of email traffic and the avoidance of logging into multiple portals to accomplish the task.
Blockchain technology isn't just a buzz word of the day, it's seen as a potential game-changer when it comes to world economies. According to a recent report (http://nnw.fm/bI2kb) by JP Morgan, "there is a growing realization that distributed ledger technology-popularly known as blockchain-will bring a radical shift in the way we think about financial assets and the way the financial industry will operate in the future."
For more information about Global Payout, visit Global Payout, Inc. (OTC: GOHE).
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today's market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge. For more information, please visit https://www.NetworkNewsWire.com .
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with NNW or any company mentioned herein. The commentary, views and opinions expressed in this release by NNW are solely those of NNW and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable NNW and FNM for any investment decisions by their readers or subscribers. NNW and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.
The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, NNW, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer's filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer's securities, including, but not limited to, the complete loss of your investment.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and NNW and FNM undertake no obligation to update such statements.
NetworkNewsWire (NNW) is affiliated with the Investor Brand Network (IBN).
Over the past 10+ years we have consistently introduced new network brands, each specifically designed to fulfil the unique needs of our growing client base and services. Today, we continue to expand our branded network of highly influential properties, leveraging the knowledge and energy of specialized teams of experts to serve our increasingly diversified list of clients.
Please feel free to visit the Investor Brand Network (IBN) http://www.InvestorBrandNetwork.com