PALM BEACH, Florida, November 14, 2018 /PRNewswire/ --
Financialnewsmedia.com News Commentary
The cryptocurrency market, a space with a market cap north of $180 billion, is still chugging along despite the recent subsiding of attention from the public. A lot of recent momentum has been fueled by the continuous investment in and improvement of Blockchain networks, as coins like Ethereum continue to trade north of $200. The value in these technologies lie in their future impact on the economy as they take aim at traditional transaction methods such as contract execution and international settlements. Optimism is particularly strong surrounding the basic idea of Blockchain in and of itself, as the technology has asserted itself as a staying power with notable influence. Active tech companies in the markets this week include Surge Holdings, Inc. (OTC:SURG), Ideanomics Inc. (NASDAQ:SSC), Xunlei Limited (NASDAQ:XNET), Overstock.com Inc. (NASDAQ:OSTK), BTL Group Ltd. (TSX-V:BTL) (OTC:BTLLF).
Surge Holdings, Inc. (OTCQB:SURG) BREAKING NEWS: Surge Holdings announced today that its wholly-owned software and technology subsidiary, Surge Blockchain, has completed development of the ERC-20 Surge Utility Token and has made available free tokens to all who sign up at http://www.surgetoken.com before the December 15 launch.
The Surge Token is an ERC20 compliant blockchain asset that can have value, be stored in a wallet, used for transactions and can be sent and received, like Bitcoin, Litecoin, Ethereum, or any other digital asset.
"The technology we've developed is soup to nuts, from the issuance of the reward tokens to requests for redemption to transmitting our ERC-20 token to Ethereum." Stated Chief Technology Officer, John Mott.
Tokens will be earned through purchases of Surge products and services or through incentivized activities such as automatic paycheck deposits to the SurgePays Debit Card or paying certain SurgePhone Wireless combo specials. Tokens can be redeemed for rewards and or stored in digital wallets.
The difference between Surge Tokens and standalone currencies like Bitcoin and Litecoin is that the Surge Token will piggyback on the Ethereum network, hosted by Ethereum addresses and sent using Ethereum transactions from a smart contract.
Surge Holdings Inc. CEO Brian Cox said "The underlying principle to the Surge business model is to drive revenue by bringing products and services to those who might otherwise not have access to them. This fits perfectly into our overall strategic plan for customer loyalty, enhancing the Surge ecosystem and overall corporate valuation." Read this and more news for SURG at : http://www.financialnewsmedia.com/news-surg/
Other recent developments in the tech industry include:
Ideanomics Inc. (NASDAQ:SSC) recently announced it has entered into a joint venture agreement with TPJ Ltd, to create Ideanomics Resources LTD a U.K. company based in London. The 75% Ideanomics owned joint venture has been created to unlock value in the commodities and energy sectors by leveraging and utilizing the Ideanomics Platform-as-a-Service (PaaS) solutions, a suite of strong multi-layer fintech technologies leveraging blockchain and artificial intelligence. Ideanomics Resources will initially focus its efforts in Africa and Middle East where it has significant long-term relationships. "We will use blockchain technology to improve transparency and eliminate corruption in Africa's commodity markets. Digitizing asset production and distribution could help the continent to lead just as it has with mobile money worldwide," Dr Bruno Wu, co-CEO and Chairman of Ideanomics, told entrepreneurs and investors at an event hosted at Africa House collective in New York, during the United Nations General Assembly week in September 2018.
Xunlei Limited (NASDAQ:XNET) recently announced a strategic partnerhsip agreement with People Capital to promote blockchain innovation and empower the real economy with blockchain applications. Under the partnership, People Capital and Xunlei will establish a technology innovation laboratory as part of People Capital's Blockchain Research Institute. Both entities will work together to explore blockchain as a foundational technology across various business scenarios. Furthermore, a high-level industrial service platform will be built up to organize offline activities, such as workshops, industry seminars and application competitions, in order to facilitate information sharing, promote innovation and identify potential start-up companies in the blockchain sector.
Overstock.com Inc. (NASDAQ:OSTK) developments: The company's blockchain accelerator, Medici Ventures, recently announced that portfolio company Bitsy.com will allow public access to the beta version of its exchange and wallet service beginning Monday, November 12, 2018. Bitsy's new app-based platform creates a remarkably easy, secure, and user-friendly bridge between bitcoin and the US Dollar. During Bitsy's beta testing phase, users can download the Bitsy app from the App Store or Google Play free of charge to securely buy, transfer, or hold bitcoins. Bitsy gives users complete control of their funds and allows for the transfer of assets directly between individuals. The app also includes an innovative and secure account recovery system to assist users in the event they lose their funds. "The great promise of the Bitcoin white paper was to have legitimate peer-to-peer exchange of value without the need for trusted intermediaries. Few people understand, however, that with conventional Bitcoin wallets, users do not have actual possession or control of the Bitcoins they buy: their wallet-provider owns the Bitcoin and provides a contractual claim to the consumer, who must then trust that corporation. This defeats the whole purpose of crypto. Bitsy wallets, on the other hand, allow users to possess and have complete control of their cryptocurrency without the risk of lost keys. This sets a new standard for digital wallets," said Patrick M. Byrne, Overstock.com CEO and founder. "We are excited to continue our cryptocurrency journey and integrate Bitsy's technology with Overstock.com to offer bitcoin for sale directly from the retail site in the first half of 2019."
BTL Group Ltd. (TSX-V:BTL.V) (OTCPK:BTLLF) recently announced an update on its efforts to advance Interbit™, the megachain technology platform it is building with the objective of being able to run 1,000,000+ chains simultaneously, and supporting the complex Enterprise level applications presented to the Company. BTL began development of the Interbit™ platform three years ago to overcome the limitations of single blockchain platforms. Following the release of Interbit™ (version II) in April 2018, the Company concluded from feedback that the revenue possibilities and its competitive position would be enhanced if it significantly increased the chain-joining and chain generation capacity of the platform. Since then, the Company has re-architected the InterbitTM platform (version III) towards this unique megachain vision, which it targets to complete in Q1 of 2019. "To achieve megachain scale in this current post-blockchain era, the Interbit™ platform has been crafted as a recursive function. The property of the underlying Interbit™ platform to be able to execute in emulation mode, another running version of itself, is the purest test of completeness that any software platform can aspire too. The fractal like nature of the platform allows a lightness, speed, and a self-healing characteristic well beyond databases with cryptography, or even single chain blockchains. The self-proving correctness of recursion is necessary for stable operation at the megachain scale," said Tom Thompson, CTO of the Company.
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