Breaking News Bar

Business News and Information

CORRECTION - Investments in Blockchain Technology Continues to Accelerate

NEW YORK, March 9, 2018 /PRNewswire/ --

According to a report from International Data Corporation (IDC), worldwide spending on blockchain solutions reached $2.1 billion in 2018 so far, compared with $945 million spending in 2017. IDC expected that the total blockchain spending will reach $9.2 billion by 2021, with a compound annual growth rate (CAGR) of 81.2 percent. The report indicated that the United States sees the biggest investment in blockchain technology, accounting more than 40 percent of the total spending. While Western Europe, China and Asian/Pacific region are expected to become the next largest region for blockchain spending. DMG Blockchain Solutions Inc. (OTC: DMGGF), International Business Machines Corp. (NYSE: IBM), Pareteum Corporation (TEUM), BTL Group Ltd. (OTC: BTLLF), HIVE Blockchain Technologies Ltd. (OTC: HVBTF)

Increasing adoption of blockchain technology and cryptocurrencies is one of the factors that attract worldwide spending on blockchain solutions. Jessica Goepfert, program director, Customer Insights & Analysis, said, "There are a multitude of potential new use cases for blockchain, as transactions and records are the lifeblood of just about every organization. However, we are seeing initial blockchain spending to transform existing highly manual and inefficient processes such as cross-border payments, provenance and post transaction settlements. These are areas of existing pain for many firms, and thus blockchain presents an attractive value proposition."

DMG Blockchain Solutions Inc. (OTC: DMGGF) also listed on the TSX Venture Exchange under the ticker 'DMGI'. Earlier this week the company announced breaking news that, "the formal closing of the previously announced acquisition of Datient Inc., doing business as "Blockseer" (the "Transaction"). The combined DMG - Blockseer alliance represents a strong competitive advantage in providing leading cryptocurrency forensics and proprietary real-time risk scoring for compliance and anti-money laundering (AML). Additionally, Blockseer's blockchain and data analytics expertise provides the capabilities to uniquely offer class-leading enterprise solutions with a natural convergence of Blockchain and artificial intelligence technologies - data is the asset, which can be tracked and monetized utilizing blockchain technology.

Blockseer is a blockchain and artificial intelligence company headquartered in Silicon Valley, California. Blockseer has worked with several law enforcement agencies including the U.S. Secret Service, Federal Bureau of Investigation, and the Internal Revenue Service, and it also provides Ethereum blockchain data services for Blockchain.info, one of the world's largest cryptocurrency wallet providers. Blockseer provides data analytics and incorporates artificial intelligence to provide insight into what is happening with digital currencies and blockchains.

Blockseer's intellectual property (IP) includes two (2) United States provisional patents: (a) Providing Data Provenance, Permissioning, Compliance, and Access Control for Data Storage Systems Using an Immutable Ledger Overlay Network; and (b) Off Network Identity Tracking in Anonymous Cryptocurrency Exchange Networks.

Blockseer's current team comes from Stanford, Harvard, University of Chicago, Carnegie Mellon and Columbia with deep experience in artificial intelligence, big data, and blockchain and is led by its Chief Executive Officer and founder, Danny Yang. Its advisors include Andreas Weigend, Bill Tai, Stephen Sorkin, Vas Bhandarkar, Phil Porras, and Brian Klein, and its influential shareholders include Charlie Lee, the founder of Litecoin.

"To date, DMG has received recognition as a market leader in the crypto mining space, and now with the Blockseer acquisition, DMG can claim leadership in the blockchain development arena and deliver on its commitment to be a diversified blockchain company. Blockseer is not a single blockchain application, but a blockchain development engine for multiple applications with well-known global customers. We believe that the Blockseer team is amongst the most talented in the industry today, and we welcome Dr. Danny Yang and the Silicon Valley team to DMG," said Daniel Reitzik, CEO and Director of DMG.

Chris Filiatrault, DMG's Chairman and Founder added, "Japan remains the largest crypto market in the world, and very few non-Japanese companies have been successful. With the Blockseer product line, and the DMG presence in the market today, Japan represents a massive opportunity for our stakeholders. We have already planned a visit for Dr. Danny Yang to visit Japan and look forward to sharing our progress in short order."

International Business Machines Corp. (NYSE: IBM) is recognized as the leading enterprise blockchain provider. On January 16, 2018, the company and 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 cost and size of the world's trading ecosystems continues to grow in complexity. More than $4 trillion in goods are shipped each year, and more than 80 percent of the goods consumers use daily are carried by the ocean shipping industry. 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. By applying the technology to digitize global trade processes, a new form of command and consent can be introduced into the flow of information, empowering multiple trading partners to collaborate and establishing a single shared view of a transaction without compromising details, privacy or confidentiality.

Pareteum Corporation (TEUM) is a rapidly growing Cloud Communications Platform company. Last month, the company announced 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. 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) is an enterprise technology platform provider that is developing Interbit, a proprietary next generation blockchain platform. On January 21, 2018, 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. Interbit, as a next generation blockchain platform, has the capacity to operate and interconnect many thousands of blockchains per server, in a secure, private and scalable manner and moreover is designed for ease of use.

HIVE Blockchain Technologies Ltd. (OTC: HVBTF) recently announced its results for the third quarter ended December 31, 2017. Subsequent to the quarter, on January 15, 2018, HIVE commenced mining operations from the initial 6.8 MW phase of the Sweden GPU Data Centre, nearly tripling its global footprint of energy consumption dedicated to digital currency mining to 10.6 MW. This has contributed to a strong increase in the Company's digital currency portfolio to a total value of $13,624,783 as at February 26, 2018. The construction and configuration of the second and third phases of the Sweden GPU Data Centre is proceeding on-schedule and will increase HIVE's capacity by an additional 13.6 MW within two months, with the 20.0 MW Sweden Bitcoin Date Centre to follow by September 2018. In the quarter, HIVE acquired and launched operations of the second phase at its digital currency mining centre in Iceland. Included in the financial results for the quarter ended December 31, 2017 is a full quarter of operations from the initial 2.05 MW of mining capacity plus operations from the 1.75 MW expansion from October 13, 2017 which, combined, resulted in revenues of $3,274,186 and a gross mining margin of $2,382,687. HIVE continues to execute on its aggressive growth strategy to maintain its position as a market leader in the blockchain infrastructure industry and is fully financed to build out and bring online the balance of the Sweden GPU Data Centre by April 2018 and the Sweden Bitcoin Data Centre by September 2018.

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


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