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Data Projects Blockchain Technology Market is Set to Grow as Varity of Industries Show Interest

FinancialBuzz.com News Commentary

According to data published by Grand View Research, Inc. the global blockchain technology market size is expected to reach USD 7.59 billion by 2024, at a 37.2% CAGR during the forecast period. The positive projections are the result of an increasing demand for this technology from a variety of industries, including financial services, consumer or industrial products, media and telecommunications, healthcare, transportation, as well as public sectors. The Wall Street Journal (WSJ) describes the blockchain technology as a secure database, or ledger, spread across multiple computers. All users have the same record of all transactions. “Crypto” describes the cryptography that underlies it, which allows agents to securely interact, like transfer assets for example. The technology also guarantees that once a transaction has been made, the blockchain remains an absolute record that transaction. Victory Square Technologies Inc. (OTC: VSQTF), ChinaNet-Online Holdings, Inc. (NASDAQ: CNET), HIVE Blockchain Technologies Ltd. (OTC: HVBTF), BTL Group Ltd. (OTC: BTLLF), International Business Machines Corp. (NYSE: IBM)

An article in the WSJ by Christopher Mim, indicates that, “Blockchain has the power to transform all these industries for three reasons. First, it’s genuinely well-suited to transactions that require trust and a permanent record. Second, blockchain typically requires the cooperation of many different parties. In cases where it’s implemented as open source software, it avoids the collective-action problem-the disincentives that prevent individuals from adopting something that would benefit them collectively-that occurs when a single company tries to push, and benefit from, a new standard.”

Victory Square Technologies Inc. (OTC: VSQTF) also listed on the Canadian Securities Exchange under the Ticker (CSE: VST). Yesterday the company announced that it, “is partnering with Keynote to bring the World Blockchain Forum to New York City for the first WBF: Security Tokens & ICOs conference on June 12-13, 2018.

The two-day conference will bring together more than 1,000 major stakeholders in the blockchain and cryptocurrency space. Building on the previous World Blockchain Forum theme of “ICOs and Investments”, next month’s event will introduce New York to fintech industry leaders, inspiring speakers, experts and innovators from around the globe, opening up dialogue designed to explore security tokens in blockchain.

“Although bitcoin and blockchain technology are rapidly becoming more understood, security tokens remain a black box to most people,” noted Moe Levin, Founder & CEO of Keynote. “That will inevitably change and change fast because in our view the only real way to unlock the next trillion dollars of value in the ecosystem is by digitizing the traditional financial world through security tokens. Showcasing the best and brightest in the industry has been the aim of Keynote since 2012, and we’re excited to be bringing the 7th edition of the World Blockchain Forum to New York City.”

Peter Smyrniotis, a member of the Board of Directors of Victory Square and CEO of Blockchain Assembly Inc. (“Blockchain Assembly”), will be speaking on the main stage on June 12, 2018, at 10:50 am (EDT). The combined Victory Square and Blockchain Assembly teams will also be hosting a $100,000 USD Investment Prize pool for the top three blockchain companies during the WBF’s Pitch Your ICO session.

Notable ICOs that have launched with Keynote include Ethereum (which is currently at a $27 billion USD market cap), Litecoin ($2.5 billion market cap), Dash ($2 billion), Factum ($70 million) and Blockchain Capital ($30M).

Keynote Events has hosted 14 global blockchain-focused conferences in the past five years, including London, Brussels, Dubai, Los Angeles, Miami, Amsterdam and Chicago. WBF speakers are typically recognized as innovators, thought leaders and decision makers in the blockchain and currency industries. Past speakers have included: Roger Ver, CEO of Bitcoin.com; Halsey Minor, Founder of CNET and Founder of Uphold; Craig Sellars, Co-Founder of Tether; Brock Piere, Co-Founder of Blockchain Capital; Sasha Ivanov, Founder & CEO of Waves Platform; William Quigley, Founder of WAX; Diego Gutierrez Zaldivar, CEO & Co-Founder of RSK Labs; Adam Perlow, Founder of Zen Protocol; and both Dr. Levin and Mr. Smyrniotis.

“Having already partnered with the WBF on two of 2018s biggest bitcoin and blockchain events in Miami and Dubai, Victory Square is excited to bring the World Blockchain Forum to the Big Apple,” said Shafin Diamond Tejani, CEO of Victory Square. “These conferences are strategically essential for us and New York will allow us to connect with the some of the most respected blockchain thought-leaders, institutional investors, regulators, leading companies and projects in the world, while at the same time showing off our own exceptional entrepreneurs and portfolio companies.”

A key for Victory Square are the Pitch Your ICO sessions where it will gain valuable insight from founders of the most promising upcoming blockchain companies. With over 30 leading blockchain companies selected to attend from all over the world to present to some of the leading cryptocurrency investors, Victory Square will judge and select three winners who will share in the special $100,000 USD prize pool.”

“Victory Square continues to be a great supporter of not only the World Blockchain Forum but of the entire blockchain and crypto space,” added Keynote CEO Dr. Levin. “We are pleased once again to have Victory Square as a lead sponsor as they represent some of the most sophisticated minds in the industry today. With an already impressive and growing portfolio of blockchain-enabled assets under the Victory Square umbrella we look forward to seeing them showcase their talented teams in New York City.”

ChinaNet-Online Holdings, Inc. (NASDAQ: CNET) announced earlier this year that the company announced it has entered into an agreement with Wuxi Jingtum Network Technology and Ford tree Beijing Blockchain Technology Co., Ltd. to establish a new joint venture company (“new JV”) to research and develop blockchain technology and its applications for ChinaNet’s blockchain technical and business units. ChinaNet will act as the controlling shareholder leading all aspects of the project. According to the Agreement, Jingtum’s Chief Technology Officer and other leading experts will be involved in the establishment of the new JV. The R&D team under the new JV will help ChinaNet design the underlying foundation of unique layered blockchain architecture, develop the cross-chain functionality between the principal and subordinate chains, realize the circulation of certain assets between different chains, design intelligent contract mechanisms to support complex logic, and complete the cloud service model and other important underlying technology.

HIVE Blockchain Technologies Ltd. (OTC: HVBTF) on May 1st announced the further expansion of its GPU-based digital currency mining complex with the completion of the third phase (“Sweden Phase 3”), which commenced mining at the end of April 2018. This is the second expansion brought online in the past month and the precise execution of the Company’s mining roadmap has resulted in on-time completion of the facility. Sweden Phase 3 increases HIVE’s energy consumption dedicated to cryptocurrency mining by 6.8 megawatts (“MW”) to 24.2 MW, an increase of 39%. “HIVE is well positioned as an industrial-scale digital currency mining operator in stable jurisdictions with low-cost power and operating profiles. We continue to exhibit healthy gross mining margins and have a growing inventory of cryptocurrency. We are committed to achieving profitable growth and evaluating opportunities for the deployment of capital to further enhance shareholder value.” said Harry Pokrandt, CEO and Director of HIVE.

BTL Group Ltd. (OTC: BTLLF) is an enterprise technology platform provider that is developing Interbit, a proprietary next generation blockchain platform. This year the company provide further information on the next phase of its previously announced European energy trading project, under which four oil and gas supermajors and five leading energy traders including Eni Trading & Shipping, Total, Gazprom Marketing & Trading Limited, Mercuria, Vattenfall, Petroineos and Freepoint, propose to participate in using BTL’s Interbit blockchain platform to deliver gas trading reconciliation through to settlement and delivery of trades. This enterprise solution is being called OneOffice and is a revenue generating project for BTL.

International Business Machines Corp. (NYSE: IBM) earlier this January, together Maersk announced their intent to establish a joint venture to provide more efficient and secure methods for conducting global trade using blockchain technology. The aim of the new company will be to offer a jointly developed global trade digitization platform built on open standards and designed for use by the entire global shipping ecosystem. It will address the need to provide more transparency and simplicity in the movement of goods across borders and trading zones. The attributes of blockchain technology are ideally suited to large networks of disparate partners. A distributed ledger technology, blockchain establishes a shared, immutable record of all the transactions that take place within a network and then enables permissioned parties access to trusted data in real time.

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