PALM BEACH, Florida, May 1, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
After disrupting the digital currency, banking, health, retail and eCommerce industries, the blockchain technology has begun to find its way into a rising number of other innovative uses and applications including the automobile industry. Logistics companies are discovering they can get ahead of the game by using digital technologies like blockchain to improve visibility and security across many different applications. For example, CarBlock is the world's first blockchain-based transportation solution built on data generated by smart devices. CarBlock's circulation of car data on the blockchain is set to disrupt the entire connected car industry with the intention of providing a reliable and rich infrastructure for a multibillion dollar application market. Many industries are getting a grasp on blockchain technology as many feel it promises to have a huge impact on how companies do business in the near future which could disrupt and replace traditional payment and information-recording operations of today. Active tech companies today include: SinglePoint Inc. (OTC:SING), Marathon Patent Group Inc. (NASDAQ:MARA), Bank of America Corporation (NYSE:BAC), Pareteum Corporation (NYSE:TEUM), TrueCar Inc. (NASDAQ:TRUE).
SinglePoint Inc. (OTCQB:SING) BREAKING NEWS: SinglePoint's subsidiary ShieldSaver signs agreement with CarFax to provide detailed information directly to CarFax while being able to pull data from the CarFax system to further efficiencies within the ShieldSaver mobile application. ShieldSaver is building relationships with industry leaders and rapidly expanding its presence across the nation through relationships with international airport parking lot management companies such as WallyPark and LAZ Parking.
ShieldSaver utilizes proprietary License Plate Recognition (LPR) technology to collect large quantities of important automotive and consumer data. There are many stakeholders that need access to this data; for instance, insurance companies have an interest in knowing that a windshield was actually in need of repair and that the repair was soundly completed. At the same time, much of the data collected is private and should only be shared with parties that have a legitimate need to access the data. As ShieldSaver expands its infrastructure, SinglePoint will provide the expertise to begin storing data in a blockchain based, distributed ledger with appropriate access controls to ensure that parties who need access can retrieve it in the most secure and efficient manner.
"We are excited for this new relationship with CarFax, we believe there is a lot of opportunity to expand the relationship with CarFax. They are a fantastic company, the absolute leader in their space and we look forward to a long, synergistic relationship," states Wil Ralston President SinglePoint.
SinglePoint recently completed the acquisition of ShieldSaver and with the capital infusion the company has already grown to new levels and continues to add value to SinglePoint through IP and revenue. The two companies are working together and have started development of the automotive data collection application that will ultimately tie into SinglePoint blockchain technology developments.. Read this and more news for SinglePoint at: http://www.marketnewsupdates.com/news/sing.html
In other industry news and developments:
Marathon Patent Group Inc. (NASDAQ: MARA) earlier in April announced that the Company has amended the terms of the pending acquisition of Global Bit Ventures Inc., a digital asset technology company that mines cryptocurrencies ("GBV"). The Company's Board of Directors determined there were material changes in both companies' operations since the date on which the original merger agreement was executed. Since then, the Company leased 26,700 square feet of a purpose-built facility in Quebec, purchased 1,400 Bitmain Antminer S9 bitcoin miners and put such miners into full production. The Company also purchased four patents related to the transmission and exchange of cryptocurrencies between buyers and sellers. Additionally, the Company now has $5,250,000 in cash.
Bank of America Corporation (NYSE: BAC) - On April 12, the United States Patent and Trademark Office (USPTO) released a patent filing from the Bank of America outlining their plans for a permissioned blockchain implementation that enables personal and business data sharing. A user will authorize service providers to securely access their data, but only for the specific records they have access to. For example, a healthcare provider will only have access to relevant healthcare records. Read More Here
Pareteum Corporation (NYSE: TEUM) recently announced that it has signed a 3-year contract to provide its Global Cloud Services Platform (GCSP) to an established Enterprise Integrator and Managed Service Provider in Asia and the Indian Subcontinent. Pareteum's GCSP solution will enable our new customer and enterprise clients to manage global wireless devices, and, to operate from a single platform for provisioning, monitoring and management of all their applications and connectivity. Under the terms of the contract, Pareteum will be paid monthly for every device that is managed by the platform as well as revenue for the wireless connectivity. As new wireless devices are added by these enterprise customers, they will have a global interface that facilitates their optimization and choices for the best connectivity available. These are service features made possible by the Pareteum global cloud and its recently announced strategic partnerships.
TrueCar Inc. (NASDAQ: TRUE) closed up slightly on Monday at $ 9.90 with over 800,000 shares traded on the day. TrueCar, Inc., together with its subsidiaries, operates as an Internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar Website and mobile applications. The company also customizes and operates its platform for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for large enterprises. Its platform enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar certified dealers. In addition, the company offers forecast, consulting, and other services regarding determination of the residual value of an automobile at given future points in time, which are used to underwrite automotive loans and leases, and by financial institutions to measure exposure and risk across loan, lease, and fleet portfolios.
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