PALM BEACH, Florida, March 22, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
Blockchain has evolved from a popular fintech buzzword into a technology that is currently disrupting a wide range of areas within a vastly growing number of industries including the Financial Services Industry. A perfect example for the financial sector that is more than primed for blockchain disruption is the mortgage industry. A market that currently involves lengthy paper-based processes could easily be digitized and made more efficient through the adoption of distributed ledgers and smart contract technology. Blockchain's defining elements such as distributed ledgers, smart contracts, inherent security, and digital payments could add efficiency and transparency to the working of the mortgage servicing industry. Active companies today include:Block One Capital Inc. (TSX-V: BLOK) (OTC: BKPPF), HIVE Blockchain Technologies Ltd. (OTC: HVBTF) (TSX-V: HIVE), Bitcoin Investment Trust (OTC: GBTC), Net Element, Inc. (NASDAQ: NETE), Atlas Cloud Enterprises Inc. (OTC: ATLEF) (CSE:AKE).
Block One Capital Inc. (TSXV: BLOK.V) (OTCQB: BKPPF) an investment company focused on high growth opportunities in the blockchain and digital currency mining sector, is pleased to provide an update on its investment company: Finzat Block LLC ("Finzat").
Finzat is a New York, USA based mortgage blockchain company aiming to streamline and digitize the US mortgage market using innovative blockchain applications to create a system which is Simple, Auditable, Fault-tolerant and Efficient (SAFE).
Michael W. Moore Named Chairman
Finzat has named Michael W. Moore as the company's Chairman. Mr. Moore is a recognized leader in mortgage finance and investment and risk management. During his 15 years as the senior-most financial executive with the Chicago Federal Home Loan Bank, he was the co-developer of Mortgage Partnership Finance (MPF), a mortgage origination platform whereby Federal Home Loan Bank ("FHLB") members participate in a unique risk sharing arrangement with their respective FHLB, optimizing benefits for both parties. Mr. Moore in this new role as Executive Chairman is spearheading Finzat's new product development in the housing market, which is a natural progression in validating Finzat's token use case.
Finzat Advisory Board
Dr. Pratheev Sreetharan
Mr. 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 a 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 Wall Street Journal, Business Week, MIT Technology Review, Scientific American, on the Discovery Channel and National Public Radio.
Mr. James Williamson
Prior to joining Finzat, Mr. Williamson was a founding partner with a Chicago based investment fund focused on dislocations and mispricing of the credit risk component of commercial and residential mortgage securities. Previous to this, Mr. Williamson held senior positions with JPMorgan Capital Corporation where he was involved with the acquisition of new issue Commercial Mortgage Backed Securities in North America and Canada, as well as serving as the primary liaison with the Federal Home Loan Bank System. Mr. Williamson has extensive experience in asset disposition in both business management and legal oversight roles with the Resolution Trust Corporation and the Federal Deposit Insurance Corporation. He also has a background in international business, having served as a consultant to the World Bank in Eastern Europe and as a Senior Financial Advisor to the United States Agency for International Development in Asia. Jim holds a B.A. from Villanova University and a J.D. from Marquette Law School. Read this and more news for Block One Capital at: http://www.marketnewsupdates.com/news/blok.html
In other industry news and developments:
HIVE Blockchain Technologies Ltd. (OTC: HVBTF) (TSXV: HIVE.V) last week the company announced it has applied for listing of an aggregate of 48,830,150 common share purchase warrants on the TSX Venture Exchange as a supplemental listing. The warrants were issued pursuant to private placements of the company that closed on Nov. 14, 2017, Dec. 18, 2017, and Dec. 29, 2017. Subject to TSX-V approval, the warrants will commence trading on the TSX-V under the symbol HIVE.WT concurrently with the expiry of each applicable four-month-and-a-day hold period attached to such warrants. Hive expects 12,322,250 of the warrants to be listed on March 15, 2018, 15,873,100 of the warrants on April 19, 2018, and the remaining 20,634,800 warrants on April 30, 2018. Hive Blockchain Technologies is a growth-oriented, TSX Venture Exchange-listed company, building a bridge from the blockchain sector to traditional capital markets.
Grayscale Investments, LLC ("Grayscale"), a trusted authority on digital currency investing, announced earlier this month the launch of four new investment products including Bitcoin Cash Investment Trust, Ethereum Investment Trust, Litecoin Investment Trust, and XRP Investment Trust (each, a "Trust," and collectively, the "Trusts"). As of February 28, 2018, Grayscale had $2.1 billion in assets under management. "We are thrilled to expand Grayscale's offerings to meet rising investor demand," said Michael Sonnenshein, Managing Director at Grayscale. "Our team is committed to bridging the gap between the global investment community and the digital currency asset class. We remain focused on product creation and will continue to launch more single-asset and diversified products to provide exposure where investors are looking for it." Established in 2013 by Digital Currency Group, Grayscale Investments, LLC is a trusted authority on digital currency investing. Grayscale provides secure access to the digital currency asset class through its single-asset and diversified investment products, including Bitcoin Investment Trust (OTCQX: GBTC) and Digital Large Cap Fund.
Net Element, Inc. (NASDAQ: NETE), a global technology and value-added solutions group, in late February announced that it has joined the Enterprise Ethereum Alliance ("EEA"), the world's largest open-source blockchain initiative with over 250 member companies. Net Element's membership to the prestigious alliance is complementary to the Company's recently announced decentralized blockchain technology solution that will enable an unlimited number of value-added services ("VAS") and support the adoption of Ethereum in the enterprise. The EEA seeks to augment Ethereum adoption as an enterprise-grade technology, with research and development focused on privacy, confidentiality, scalability and security. Net Element is developing a decentralized crypto-based ecosystem to act as a framework for a number of value-added services that can connect merchants and consumers directly, via blockchain technology, while increasing the economic efficiency of all transactions conducted within the ecosystem.
Atlas Cloud Enterprises Inc. (OTC: ATLEF) (CSE:AKE.CN) announced the closing of the previously disclosed acquisition of MKH Electric City Holdings LLC, a Washington State company. The transaction includes a 6,600-sq. ft. facility ("The Grant County Data Centre") which is currently being upgraded to industrial-scale cryptocurrency mining standards. The facility, located in Electric City Washington, is less than five kilometers from the Grand Coulee Dam which impounds a sizable portion of the Columbia River. Due to its location, the facility significantly benefits from electrical provisioning at approximately $0.03/kWh, one of the least expensive commercial rates in the world. Atlas Cloud's energy consumption dedicated to digital currency mining for this individual location is 3.0 megawatts ("MW"), supplied by the Grant County Public Utility Department with the ability to upgrade to 5.0 MW.
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