Adoption and Awareness of Blockchain Technology Continues to be Grow
NEW YORK, January 23, 2018 /PRNewswire/ --
Increasing adoption of blockchain technology and growing awareness of the use of blockchain applications continue to drive the blockchain technology market. According to a report from Research and Markets, the global blockchain market is expected to grow from USD 411.5 million in 2017 to USD 7,683.7 million by 2022, at a compound annual growth rate of 79.6 percent. The report indicated that payments application segment is expected to hold the largest market size during the forecast period. Blockchain, which is best known as a distributed ledger that can record cryptocurrency transactions, is expected to reduce costs for many financial institutions and banks. Global Payout, Inc. (OTC: GOHE), SinglePoint, Inc. (OTC: SING), Black Cactus Global Inc. (OTC: BLGI), Bitcoin Services, Inc. (OTC: BTSC), Digatrade Financial Corp. (OTC: DIGAF)
According to the report, "factors such as rising cryptocurrencies market cap and ICO, faster transactions, reduced total cost of ownership, simplified business processes, transparency, and immutability are expected to drive the market growth. However, the transformation of international trade and supply chain management, high adoption of blockchain for payments, smart contracts, and digital identities, rising importance and adoption of blockchain technology for communication service providers, and a new breed of programmable blockchain platforms would create lucrative market opportunities."
Global Payout, Inc. (OTC: GOHE) announced yesterday that, "despite initial delay, the official initiation of the formal audit will likely begin at the start of February, and make way for the filing of the form 10-K sometime in March. This progress signifies that the Company has made great strides in developing a strong base from which to build competitive subsidiaries in several key market sectors.
The recent announcement to spin off a subsidiary to focus exclusively on supply chain finance in the logistics industry, SecurCapital Corp., is significant in that it signals to investors, and the industry, that the Company intends to build a competitive FINTECH solution to address the many market challenges facing this sector. Additionally, MoneyTrac Technology has built significant relationships in a number of sectors including business development and Cryptocurrency. The goal of Global Payout is to provide these subsidiaries with a solid foundation, and the filing of the Form 10-K is a key building block in this endeavor."
"Over the years the core strategy of Global Payout has shifted significantly, from our inception as a prepaid card company to the present goals of incorporating cloud banking features into several key market sectors. The strength of Global Payout has been its resilience during this time of transition, but we feel confident that the best way to move forward for us and our shareholders is to become fully reporting, so that we can provide the best possible support to our subsidiaries while they meet their full potential," said Global Payout CEO, Jim Hancock."
SinglePoint, Inc. (OTC: SING) has grown from a full-service mobile technology provider to a publicly traded holding company. On January 10, 2018, the company announced a long-term global collaboration with dynamic entrepreneur Kevin Harrington. As part of the partnership, Harrington will work hand-in-hand with the innovative technology brand to launch a range of services in SinglePoint's cryptocurrency division. This partnership will include the collaborative development of cryptocurrency and bitcoin projects, including SinglePoint's bitcoin payment platform. Harrington will play an integral role in the global promotion and growth of SinglePoint's bitcoin exchange and bitcoin payment platform designed to help serve the needs of under-banked markets such as the cannabis industry. The two parties will also work together on integrating Procoin, a national e-commerce and rewards crypto-currency platform.
Black Cactus Global Inc. (OTC: BLGI) is a global technology company developing Blockchain applications for Fintech, Healthcare, Media and Supply Chain using smart contracts and machine learning. Recently, the company announced that it has entered into a Memorandum of Understanding with the majority shareholders in an Indian Technology firm to form a powerful subsidiary of the Company. Under the terms of the MOU Black Cactus will become the largest stakeholder of a global Technology company with offices in the 'FinTech Valley' Vizag Software Technology Park in Visakhapatnam, India, through which it will focus on and advance the use of its unique Blockchain based Intellectual Property. The planned acquisition will be re-named Black Cactus Global Technologies Pvt. Limited ("BCGTPL"), and will act as the leading developmental powerhouse for the Company's efforts in India and the world. Staffed with 500 Software Engineers and Developers, BCGTPL will initially undertake, using the Black Cactus Blockchain IP, several development projects with the Indian Government to assist it in its Risk and Fraud Management of the local financial markets.
Bitcoin Services, Inc. (OTC: BTSC) offers services related to cryptocurrency and bitcoin, such as Bitcoin Mining and Blockchain Software Development. Bitcoin mining is the means by which new Bitcoin is brought into circulation, the total of which is to be capped at 21 million BTC. Bitcoin mining serves to both add transactions to the block chain and to release new Bitcoin. The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle. Bitcoin Blockchain is the technology backbone of the network and provides a tamper-proof data structure, providing a shared public ledger.
Digatrade Financial Corp. (OTCQB: DIGAF) is a global digital asset exchange and blockchain development services company located in Vancouver, British Columbia, Canada. On January 3, 2018, the company announced the execution of a technology development contract with No Limits Consulting Limited to develop the Digatrade Mobile Application for iOS & Android. The following features will be developed for the Digatrade Mobile App; Digatrade home page, portfolio page with account balance display, activities page with transaction records, funding including deposit / withdraw function, trading page with instant liquidity access to Digatrade multi-currency order-book and standalone APK for android users in Chins. The application is expected to go-live Q102018.
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