The Global Blockchain Market Continues to Increase in Value
NEW YORK, April 6, 2018 /PRNewswire/ --
FinancialBuzz.com News Commentary
According to a report published by Markets and Markets, the global blockchain market size is expected to grow from USD 411.5 million in 2017 to 7,683.7 million by 2022, while growing at at a compound annual rate of 79.6 percent. The blockchain is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. Blockchain technology was originally known as the tracking database underlying the cryptocurrency bitcoin. But it is now increasingly used across various sectors, including financials, healthcare, transportation and others. Glance Technologies Inc. (OTC: GLNNF), Marathon Patent Group, Inc. (NASDAQ: MARA), Pareteum Corporation (NYSE: TEUM), Net Element, Inc. (NASDAQ: NETE), Integrated Ventures, Inc (OTC: INTV)
The report also indicates that blockchain technology is significantly transforming the payment industry, "The integration of the technology provides real-time payments against assets with an immutable state and digital identity, and result in substantial cost savings in the context of reconciliation and settlement for many financial institutions and banks. In addition, blockchain automates the payment processing activities, eliminates the need for intermediaries, and reduce the administrative costs and time for providers and payers."
Glance Technologies Inc. (OTCQB: GLNNF) also listed on the Canadian Securities Exchange under the Ticker (CSE: GET). Yesterday the company announced, "The Future of Blockchain (glance.tech/blockchain), which is a full-day summit hosted by Glance taking place May 8th, 2018 in Vancouver BC.
Blockchain, a name already synonymous with opportunity, innovation and possibility on a massive scale, is a technology at a crossroads, currently encircled with questions and confusion. Serious players in the space today are faced with a choice: push harder, connect more, and advance their knowledge - or perish in the noise.
That is why Glance is bringing some of the world's leading industry experts to Vancouver to explore the future of blockchain technology, cryptocurrency, artificial intelligence, and the myriad implications for economics, finance, and the foundations of society.
The Future of Blockchain summit will bring together some of the brightest lights in the industry to unpack a 360-degree perspective on what blockchain really is, what we can learn from its history, and how businesses need to be ready for its future. As a company at the forefront of mobile technology and blockchain, Glance Technologies is proud to invite speakers, sponsors, special guests and the public to the event on Tuesday May 8, 2018, at the The Annex in Vancouver.
Hosted by the company behind the Glance Pay mobile payment app, The Future of Blockchain summit offers guests exclusive access, including networking sessions and Q&A opportunities, to a growing list of international blockchain specialists, with more speakers being unveiled in the coming weeks.
Marathon Patent Group, Inc. (NASDAQ: MARA) is formerly an IP licensing company. Following the acquisition of GBV, the combined company will focus on the development of GBV's new business involving the blockchain ecosystem and generation of digital assets. Last month, the company announced that it has commenced bitcoin mining at its new facility in Quebec. On February 8, 2018, the Company announced it had purchased 1,400 Bitmain Antminer S9 miners ("Antminer S9s") and on February 15, 2018 the company announced it had leased 26,700 square feet of data center space in Quebec, Canada. The Company is pleased to announce the completion of its installation and the commencement of operations which are expected to utilize approximately 2.0 MW and deliver approximately 19 Ph/s of ASIC mining capacity. The Antminer S9s are presently mining Bitcoin, but are able to mine other digital assets/cryptocurrency using the SHA256 algorithm. Marathon is seeking to add up to an additional 3.9 MW of power. If successfully completed, this is expected to provide capacity for up to 2,800 additional Antminer S-9s that if acquired, could be located at this facility.
Pareteum Corporation (NYSE: TEUM) is the rapidly growing Cloud Communications Platform company. In February, the company announced that it has published a whitepaper to explore the opportunities that Blockchain enables including security, identity management and settlement. The whitepaper begins with defining how Blockchain supports the integration of various forms of traditional and next generation payment models. Providing real-world use cases, the whitepaper demonstrates how Blockchain relates to the communications market. The Whitepaper explores how the Pareteum Global Cloud Service Platform supports Blockchain enablement and why it's important for mobile solutions providers to understand the basics of this new technology.
Net Element, Inc. (NASDAQ: NETE) announced recently that its Unified Payments subsidiary has launched "Fast Pass Funding", a same-day funding service through its proprietary Netevia platform. Fast Pass Funding allows eligible merchants to receive funding in as little as 3 hours during regular business days. This is a significant improvement over the previous average funding times of 12 to 24 hours. Fast Pass Funding is also available to merchants using Aptito, Net Element's proprietary cloud-based restaurant POS and management system. Additional value-added services include fast, easy merchant account opening and integration, payment conversion optimization, more than 150 risk monitoring filters and a very competitive pricing for payment acceptance services. "We are pleased to take advantage of the latest capabilities provided by our new Netevia platform and we are excited about the additional upcoming features this platform will bring to us this year," commented Vlad Sadovskiy, President of Integrated Payments for Net Element.
Integrated Ventures, Inc (OTCQB: INTV) recently disclosed the purchase of 20 highly profitable Antminer X3 ("AX3") mining rigs, with wholesale cost of $46,800. Estimated delivery is scheduled to be between May 15 and June 30. "We are very pleased to be able to expand our coin line up by adding a new currency - Monero and confident that this purchase will have a positive effect on our revenue growth. The latest purchase combined with current (less units sold) inventory, totaling 350 units, is projected to deliver the annual revenues in excess of $2,250,000 million per year, based on current bitcoin pricing. It must be noted that the projected revenue estimates are directly linked to the highly volatile currency market conditions and daily BTC pricing," said Steve Rubakh, CEO of Integrated Ventures, Inc.
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