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Blockchain Technology Market Expected to Grow

NEW YORK, February 26, 2018 /PRNewswire/ --

According to a recent report from Market Reports Center, the global market for blockchain was valued at $708 million in 2017 and is anticipated to reach $60.7 billion in 2024. The demand for blockchain technology is increasing rapidly as it provides enhanced security to the real-time digital economic process. In addition, it also offers faster speed and greater efficiency for transaction processing. The report indicated that blockchain technology has the ability to change all aspects of the digital economy, including conducting business, delivering healthcare, shopping, enhancing education and learning, entertainment, and staying connected with a social world. DMG Blockchain Solutions Inc. (OTC: DMGGF), Inc (NASDAQ: OSTK), Pareteum Corp (NYSE: TEUM), BTL Group Ltd. (OTC: BTLLF), International Business Machines Corp. (NYSE: IBM)

Bill Fearnley, Jr., research director, Worldwide Blockchain Strategies, said: "Interest and investment in blockchain and distributed ledger technology (DLT) is accelerating as enterprises aggregate data into secure, sequential, and immutable blockchain ledgers, transforming their businesses and operations…Many technology vendors and service providers are collaborating and working with consortiums such as the Enterprise Ethereum Alliance and the Hyperledger Projects to develop innovative solutions that improve processes such as post-trade processing, tracking and tracing shipments in the supply chain, and transaction records for auditing and compliance."

DMG Blockchain Solutions Inc. (OTC: DMGGF) also listed on the TSX Venture Exchange under the ticker 'DMGI'. Just earlier today the company announced breaking news that, "DMG Blockchain Provides Power Update on Flagship Cryptocurrency Mining Facility.

Facility will be one of the largest in North America - Key Highlights

  • Flagship facility will make it one it one of the largest crypto-mining facilities in North America with a power capacity of up to 85 megawatts
  • 40 Megawatts of near term power planned to be online by June 2018
  • Mining facility to accommodate additional Mining-as-a-Service (MaaS) customers, to address substantial demand from Asia, as well as for DMG's own mining

Vancouver, B.C. - February 26, 2018 - DMG Blockchain Solutions Inc. (TSX-V: DMGI) ("DMG" or the "Company"), is pleased to announce that phase one of its state of the art cryptocurrency mining facility is nearly complete, and ready to add additional power and infrastructure to accommodate more capacity for cryptocurrency miners. DMG's facility will be able to handle a total power capacity of up to 85 megawatts, and expects to have over 40 megawatts ready by June 2018.

DMG's crypto-mining facilities and power access will be used for its Mining-as-a-Service (MaaS) clients, and for DMG's own use. This hybrid model allows DMG to scale at a faster pace with lower capital demands, while at the same time enabling the company to benefit from the appreciating value of bitcoin. This hybrid model balances out the capital requirements in the traditional mining model with the benefits of the value of bitcoin minted.

"DMG's team has extensive experience working on industrial scale cryptocurrency mining and blockchain projects. Together with experienced local partners, we have access to the personnel, expertise, equipment, and power to expand our flagship facility to accommodate more miners for ourselves, and for our MaaS customers," said Daniel Reitzik, CEO and Director of DMG.

Sheldon Bennett, DMG's COO added "We believe that this new facility will not only be one of the largest in North America in terms of power capabilities, but will also employ proven technologies to improve efficiencies in mining. The support from local government, specialized contractors and from B.C.'s power utility providers has helped greatly to expedite this large project." Inc (NASDAQ: OSTK) earlier this month announced that their subsidiary, Inc. ("tZERO") announces the terms for its purchase of a 24 percent ownership stake in StockCross Financial Services, Inc., ("StockCross"), a FINRA member firm and a U.S. DTCC member Firm. An important part of tZERO's strategy is to buy, build or partner in order to aggregate all necessary components to have end-to-end ownership of its trading, clearing and settlement platform.  The investment in StockCross adds a key partner with the custodial and clearing functionality of a U.S. DTCC member firm to tZERO's trading ecosystem. "We view our acquisition of 24 percent of StockCross, and our relationship with the Gebbia family, as another key step toward achieving our goal of being the first fully regulated security token trading platform," said Joseph Cammarata, President of tZERO. "This collaboration unlocks enormous potential and provides us with enterprise-level economies of scale for both of our companies."

Pareteum Corp (NYSE: TEUM) announced on February 6th 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 Pareteum Blockchain Enabler Platform Whitepaper, can be found on Pareteum's website HERE. 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. Ali Davachi, Chief Technology Officer, comments, "Pareteum is focused on delivering enabling technology to all of its partners. The TEUM Blockchain (TBC) will revolutionize how our customers leverage Blockchain technology. Enabling our SaaS platform with identity management, transaction settlements and payment solutions greatly expands the opportunity for our customers."

BTL Group Ltd. (OTC: BTLLF) announced on February 2nd that Venzee, a company leveraging artificial intelligence to streamline product information exchange, and BTL, developers of blockchain platform Interbit, announced, on Wednesday, a partnership focused on enabling their customers to deploy blockchain solutions more efficiently and with greater ease. Venzee's recently launched data transformation solution, Mesh, aims to greatly simplify the process of integrating blockchain networks with conventional databases, said the company in a statement. With the aid of artificial intelligence, data from existing systems can be imported, merged and transformed before being written to blockchain networks.

International Business Machines Corp. (NYSE: IBM) is the leader in open-source blockchain solutions built for the enterprise. Recently, the company, Walmart,, and Tsinghua University National Engineering Laboratory for E-Commerce Technologies announced they will work together in a Blockchain Food Safety Alliance that will kick off with a collaboration designed to enhance food tracking, traceability and safety in China, to achieve greater transparency across the food supply chain. The four companies will work together to create a standards-based method of collecting data about the origin, safety and authenticity of food, using blockchain technology to provide real-time traceability throughout the supply chain. This will encourage accountability and give suppliers, regulators and consumers greater insight and transparency into how food is handled, from the farm to consumers. 

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