FinancialBuzz.com News Commentary
According to a report by Netscribes, the global Blockchain market is expected to grow at a CAGR of 42.8% from 2017 to 2022, resulting in a global revenue of USD 13.96 Billion by 2022. Blockchain technology is increasingly being used in the Banking Financial Services and Insurance (BFSI) segment for financial transactions and cross-border payments. The report indicates that the technology is also employed across a variety of sectors including healthcare, supply chain management, energy, media, informatics, etc. BFSI holds the largest share of the market, while Blockchain in the retail industry is the fastest growing sector. GreenBox Pos LLC (OTC: GRBX), Marathon Patent Group, Inc. (NASDAQ: MARA), SPI Energy Co., Ltd. (NASDAQ: SPI), Seven Stars Cloud Group, Inc. (NASDAQ: SSC), DPW Holdings, Inc. (NYSE: DPW)
Blockchain technology is still an attractive proposition to investors. Earlier this week, the Wall Street Journal reported that a software company, Block.one, raised USD 4 Billion for its EOS project from investors on the promise that the blockchain platform could change the way the internet works. ‘EOS is a network that allows developers to build and host applications. It is similar to Google”s Android, but because it is based on the concepts behind blockchain, a software protocol designed to run on a network of linked computers, there is no central authority,’ the report explained.
GreenBox Pos LLC (OTCQB: GRBX) announced yesterday that, ‘QuickCard, the company”s latest Blockchain payment and E-Wallet technology development has now passed all deployment criteria, including release criteria and compliance requirements. This robust, world class technology, is now available for most platforms, and will gradually replace existing installations of GreenBox payment technology and be the only available payment infrastructure for new clients moving forward. The company”s flagship product, taking full advantage of Blockchain benefits like security, privacy, reliability and extendibility, is also the first system to offer instant settlement capabilities and an end-to-end, natively-integrated product suite. GreenBox existing and new clients have lined up to be among the first to adopt the new technology, and full-scale installations are now ongoing. The company already sees a dramatic improvement to earning quality and predictability and expects this trend to persist. GreenBox”s success in securing robust commitments pipeline to deploy the new technology created opportunities in several new business verticals for the company. As a result, updated gross revenues projections reflecting that for the next 18 months have more than doubled.’
Marathon Patent Group, Inc. (NASDAQ: MARA) is 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. Marathon Patent Group, Inc., recently 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 and the Company have both entered into three-year master service agreements with BlockMaintain, Inc., an affiliate of Alchimista Inc., whereby BlockMaintain will run the day-to-day mining operations of GBV and the Company and, after the merger, will oversee all future expansion of the combined Company”s mining operations. The combined 2,700 Bitmain Antminer S9 miners are expected to produce approximately 33 Ph/s of ASIC mining capacity in addition to GPU mining servers owned by GBV, comprised of 28,000 GPUs, which are capable of 630 Gh/s. Merrick Okamoto, the Company”s Interim Chief Executive Officer and Executive Chairman of the Board of Directors, stated, ‘Today”s announcement represents a substantial reduction of the price paid for GBV and 56,000,000 shares in reduced dilution to our shareholders.’
SPI Energy Co., Ltd. (NASDAQ: SPI), a global provider of photovoltaic solutions for business, residential, government and utility customers and investors, recently announced the Global Bitcoin Miner Hosting. The Company operates an online energy e-commerce and investment platform in China, as well as B2B e-commerce platform offering a range of PV and storage products in Australia. SPI is committed to providing customers or organizations with safe, compliant, efficient Bitcoin mining farm hosting services with top-level hash-rate and professional maintenance in Malaysia/U.S./Canada mining farm locations. Along with the hosting service, the company launched the website globalming.com, which functioned as the introduction and work on agreements for users.
Seven Stars Cloud Group, Inc. (NASDAQ: SSC) is aiming to become a next generation Artificial – Intelligence & blockchain-powered, fintech service company, focusing on digital asset production and distribution. The Company recently announced a Joint Venture with The Centre for Digital Revolution. The JV will establish and develop the premier global standards of issuance, sales and distribution of digital assets, with operations out of the U.K. and mainland Europe. The JV will operate within, and be one component of, the previously announced NextGen X Sales, IEO and Trading Network. In addition, the Company again notes that SSC will be changing the name of NextGen X to GenXPlus, moving forward. Mr. Eric van der Kleij, the CEO of the Centre for Digital Revolution, said, ‘Over the last 10 years, the rapid development of Blockchain/DLT and Artificial Intelligence has seen an ocean of startups and corporations experimenting and conducting pilots to understand the potential of this breakthrough technology. This year marks the moment when the world”s major financial institutions begin the serious adoption of these technologies, and the adoption of professionally created tokenized digital assets.’
DPW Holdings, Inc. (NYSE: DPW) is a diversified holding company with a growth strategy of acquiring undervalued assets, disruptive technologies, sustainable solutions, and exciting ventures for incubation and development to their full potential for long-term growth and investor returns. The Company recently announced that it has used Bitcoin, the cryptocurrency its subsidiary Super Crypto Mining, Inc., or SCM, has mined through its operations, to reduce the Company”s debt, marking a milestone for the Company and possibly the use of Bitcoin on a commercial basis. SCM actively mines the cryptocurrency, Bitcoin, and, since late 2017 has held its inventory of Bitcoin as one of its long term operational and investment strategies. ‘We believe this transaction of reducing the debt incurred from the purchase of Enertec with the cryptocurrency we have mined validates Bitcoin”s value as a commodity and the use of cryptocurrencies as an alternative to fiat currency. DPW will expand its cryptocurrency mining operations as well as explore other paths to further advance the use of Bitcoin,’ said Milton ‘Todd’ Ault, III, the Company”s CEO and Chairman.
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NEW YORK, June 15, 2018 /PRNewswire/ —