Recent Developments in the Blockchain and Cryptocurrency Markets
NEW YORK, June 5, 2018 /PRNewswire/ --
The global blockchain market is projected to witness a significant CAGR of 71.46 % during the forecast period and reaching a total market size of USD 4.401 billion by 2022 or increasing from USD 0.297 billion in 2017. The research indicates that a major factor contributing to the growth of the market is the adoption of distributed-ledger technology among various applications such as payments, smart contracts, exchanges, digital identities, and documentation. Additionally, the empowerment and development of the banking sector in the less developed and emerging markets is expected to support the growth of the blockchain market. GD Entertainment & Technology, Inc. (OTC: GDET), Epazz Inc. (OTC: EPAZ), Global Blockchain Technologies Corp. (OTC: BLKCF), DPW Holdings, Inc. (NYSE: DPW), Atlas Cloud Enterprises Inc. (OTC: ATLEF)
Cryptocurrencies are virtual currencies with no physical form and without a central authority like the Federal Reserve. Without blockchain technology, there would be no cryptocurrencies like Bitcoin or Ethereum. The various cryptocurrencies are created by a process called "mining", the main purpose of which is adding transaction records to the public ledger. According to a recent report from Coherent Market Insights, the global cryptocurrency mining market was valued at USD 610.91 million in 2016 and is expected to reach USD 38.38 billion by 2025, growing at a compound annual growth rate of 29.7 percent over the forecast period.
GD Entertainment & Technology, Inc. (OTC: GDET) just announced breaking news this morning that, "the opening of the Company's New Jersey based headquarters to host its first Bitcoin and Cryptocurrency mining operations. The commercial space boasts 5,000 square feet of prime real estate in the tri state area, which has been retrofitted as a hospitable environment for Cryptocurrency mining, and corporate headquarters. At present, the Company is working to achieve the following short term objectives:
- Secure permit for buildout of the commercial space.
- Test run of bitcoin mining equipment.
- Secure permit for heavy power upgrades to accommodate more machinery.
- Build a high-quality air filtration system to host heavy power conditions.
The Company plans to use this facility to host the Cryptocurrency machines (Bitmain S9 T9 A3 Avalon 821) it has in stock and additional units it secures from overseas suppliers. Management is working with their strategic partners overseas to deliver dozens of cryptocurrency mining rigs and additional resources into the cryptocurrency mining space. The New Jersey office will serve as a colocation service to capitalize on growing enthusiasm for Crypto Mining with high efficiency equipment and expertise. The facility is also scalable to reach an exponential level of output to support an excess of 1,000 standard mining rigs (Bitmain S9 T9 A3 Avalon 821).
About GDET - GD Entertainment & Technology, also known as GDET, is a result driven, blockchain-oriented company focused on becoming a premier Cryptocurrency mining facility. GDET will build and manage a Cryptocurrency mining colocation and mining facility that is client-focused and dedicated to creating a new standard in the Blockchain space based on security and transparency. GDET has also developed a strong relationship with suppliers overseas to ensure future purchasing."
Epazz Inc. (OTC: EPAZ) is a leading provider of blockchain cryptocurrency mobile apps and cloud-based business software solutions, announced recently that the company has acquired the Play Store app Tap Tap Bitcoin Clicker, which has been downloaded more than 24,000 times. Tap Tap Bitcoin Clicker joins Epazz's growing portfolio of cryptocurrency mobile apps. Over the past six months the company has acquired CryptoFolio, Bitcoin Alticoin Tracker and Bitcoin Charts. The development team has been working on combining the apps to allow users to access in-app purchases. Tap Tap Bitcoin Clickers allows Epazz to cross sale its other CryptoFolio and educates newcomers on the power of blockchain. "Cryptocurrency is still in its early stages [and] the technology has not been fully utilized," said Shaun Passley, PhD, CEO of Epazz Inc. "We need [to] quickly enter into the market and provide the market with cutting-edge technology to build and grow a user base, [and] Tap Tap Bitcoin Clicker will help us."
Global Blockchain Technologies Corp. (OTC: BLKCF) announced that it will work with Playboy Enterprises Inc. ("Playboy") to develop a digital wallet that will enable the integration of Vice Industry Token ("VIT") into the Playboy.tv web media portal. The combination of Playboy.tv's content with VIT's engagement-monetization technology will allows users to get paid just for watching video content; the Company and Playboy will usher in a new era of media consumption that will enrich viewer engagement, and shift the imbalanced online media power dynamic to benefit the audience. The two companies are also exploring potential additional uses for cryptocurrency-powered businesses in the future. The blockchain on which VIT is built, is designed to allocate a certain percentage of new tokens to be paid to users in exchange for their actions.
DPW Holdings, Inc. (NYSE: DPW) a diversified holding company, announced recently that its subsidiary, Super Crypto Mining, Inc. ("SCM") has entered into an agreement with a U.S. based entity securing the right to 25 megawatts of power in support of SCM's operations of approximately 20,000 mining rigs at the location. Recently the company announced that SCM will be placing at least 2,000 mining rigs at the new location immediately. Some of these machines will be supporting the Cloud Mining offering, which the company expects will commence on May 1, 2018. Darren Magot, the CEO of SCM said, "We are excited about this new arrangement for many reasons. This not only helps SCM reach our 2018 goals but also provides capacity for future growth. We are proud to be working with a well-respected data facility leveraging efficiencies that result in a symbiotic cost-effective relationship."
Atlas Cloud Enterprises Inc. (OTC: ATLEF) is a growth oriented, CSE-listed company focusing on the business of providing co-location and backup/redundancy IT, telecom equipment and cloud computing, Furthermore, Atlas is focused on the blockchain sector and digital currency mining. The company currently benefits from roughly $8,000,000 CAD cash on hand and is vigorously pursuing its strategic goals on several fronts. As of May 17th bitcoin mining is underway at its partner operated co-location facility. Under the facility agreement, Atlas Cloud pays $0.10 USD/kWh to operate its previously announced $3,000,000 CAD order of ASIC S9 miners which are able to deliver a computing capacity of 13.5 petahashes per second (PH/s). Atlas Cloud expects to achieve significant efficiency by leveraging its proximity to Washington State's Grand Coulee Dam on the Columbia River. The Company significantly benefits from electrical provisioning rates at approximately $0.03/kWh, one of the most cost-effective commercial rates in the world.
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