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.
Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz
Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the ‘Site’) is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services.
FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For victory square technologies Inc. financial news dissemination and PR services, FinancialBuzz.com has been compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising.
FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com.
Global Banking & Finance Review
Why waste money on news and opinions when you can access them for free?
Take advantage of our newsletter subscription and stay informed on the go!
By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact
Top Stories4 days ago
How electric vehicles are accelerating the end of the oil age
Top Stories4 days ago
Analysis-China turbo-charges cobalt mine output despite price crash
Business4 days ago
Financial wellness in marketing: How SMBs can build trust with Gen Z consumers
Top Stories4 days ago
US FTC tries again to stop Microsoft’s already-closed deal for Activision