Breaking News Bar

Business News and Information

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), Overstock.com 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."

Overstock.com Inc (NASDAQ: OSTK) earlier this month announced that their subsidiary t0.com, 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, JD.com, 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. 

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/

About FinancialBuzz.com  

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

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 dmg blockchain solutions 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. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.

For further information:
Media Contact: info@financialbuzz.com
+1-877-601-1879

Url: http://www.FinancialBuzz.com

SOURCE FinancialBuzz.com

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
bottom clear