The Wide Variety of Blockchain Applications are set to Grow on a Global Scale
NEW YORK, October 1, 2018 /PRNewswire/ --
According to a report published by Transparency Market Research, the global blockchain technology market is expected to grow from USD 315.9 Million in 2015 to USD 20 Billion by the end of 2024 while registering a compound annual growth rate (CAGR) of 58.7%. The blockchain market is mainly being driven by the increasing adopting of blockchain technology by consumers, institutions and organizations. Based on geography, the North American region continues to dominate the blockchain technology market, owing to the early adoption of technology by leading players and the increasing investments in the development of the technology. Additionally, the overall acceptance of technology in North America is also set to grow the market within the region. Squire Mining Ltd. (OTC: SQRMF), Ideanomics (NASDAQ: SSC), Marathon Patent Group, Inc. (NASDAQ: MARA), Nxt-ID, Inc. (NASDAQ: NXTD), DPW Holdings, Inc. (NYSE: DPW)
Leading corporations continue to develop blockchain solutions for various applications. Last week, AT&T announced that it has created a suite of blockchain solutions with technology from IBM and Microsoft to help their customers solve complex problems. Andy Daudelin, Vice President, Alliances Business Development, AT&T Business, said, "Blockchain is far more than just Bitcoin or cryptocurrency. It's transforming the way many companies conduct business. Blockchain improves security and enables better management of transactions through complex processes. Utilizing our global network and IoT capabilities, AT&T enhances blockchain by providing edge-to-edge solutions that automate the tracking and that can even monitor the environmental conditions throughout the process."
Squire Mining Ltd. (OTCQB: SQRMF) is also listed on the Canadian Securities Exchange under the ticker (CSE: SQR). Last week, the Company announced, "Gaonchips as our design house and Samsung Electronics as our chosen foundry partner to manufacture our ASIC chips in Korea.
On August 1, 2018, we announced that Squire had engaged an undisclosed arm's length design fabrication firm to perform the back-end design, testing and initial mass production run of our next generation ASIC chip for mining Bitcoin Cash, Bitcoin, and other associated cryptocurrencies. We are delighted that we are now able to disclose Gaonchips as our design house and Samsung Electronics as our foundry partner.
Our front-end development team of engineers and programmers is currently working with Gaonchips to develop the Company's initial ASIC chip to mine Bitcoin Cash, Bitcoin, and other associated cryptocurrencies using a wafer process technology that, once confirmed and accepted as meeting certain prescribed specifications and criteria, will form the basis of an initial mass production test run of the ASIC chip by Samsung Electronics.
In addition, once a working FPGA prototype of our initial ASIC chip is developed, we will be able to aggressively accelerate the design and development of our initial mining rig for Bitcoin Cash, Bitcoin, and associated cryptocurrencies. We anticipate completing a FPGA prototype of our initial ASIC chip by September 30, 2018."
Ideanomics (NASDAQ: SSC) (formally Seven Stars Cloud Group, Inc.) is continuing to become one of the most prominent global digital asset providers. The Company recently announced a long-term relationship and strategic licensing agreement with New York-based Fundamental Interactions, a world-class provider of enterprise market center technology. While Velocity Ledger has been designed to support U.S. securities tokens, OTC cryptocurrencies, and real estate securities, it has unlimited potential to manage the issuance, trading and settlement of digital assets across jurisdiction and across asset classes (securities and non-securities). Velocity Ledger is a blockchain-based, software-as-a-service (SaaS) platform that operates as a private blockchain solution and interacts with all of the major public blockchains. Commenting on the partnership, Bruno Wu, Executive Chairman & Chief Executive Officer of SSC, said: "With Velocity Ledger, we will work with our partners to develop marketplaces for previously illiquid and un-tradeable assets. We have our eyes set on the fixed income, real estate, venture capital, and private equity markets, amongst various other securities and asset classes. By combining the power of Velocity Ledger with SSC's wide distribution capabilities, we will bring tremendous efficiencies to the capital formation process, narrow bid-ask spreads, and reduce the time and costs for closing and settling transactions via blockchain and AI technology."
Marathon Patent Group, Inc. (NASDAQ: MARA) is an IP licensing company. Following the acquisition of GBV, the combined company will focus on the development of GBV's new business involving the blockchain ecosystem and generation of digital assets. Marathon Patent Group, Inc. announced earlier this year that the Company's wholly-owned subsidiary Marathon Crypto Mining, Inc., has executed a lease for 26,700 sq. ft. of a 48,600 sq. ft., purpose-built facility in Quebec. As the Company's operations grow, it has the option to lease the entire building. The facility is expected to be completed by month-end when the Company anticipates putting its recently purchased 1,400 Bitmain's Antminer S9 miners into production. Merrick Okamoto, Marathon's Interim Chief Executive Officer and Chairman of the Board of Directors, stated, "Today's announcement represents more tangible evidence of our laser focus on the expansion of our cryptocurrency mining operation. We continue to gain all important scale with the addition of recent server purchases and now a second facility. Importantly, the new facility diversifies our geographical locations mitigating potential service interruptions, while paving the way to rapidly grow our mining capacity and revenue."
Nxt-ID, Inc. (NASDAQ: NXTD) provides a comprehensive platform of technology products and services that enable the Internet of Things (IoT). The Company recently announced that it intends to separate its payments, authentication and credential management business into an independent company and distribute shares of the newly created company to its shareholders through the execution of a spin-off, which the Company believes will qualify as a tax-free distribution. Immediately following the transaction, which is expected to be completed by November 15th, 2018, Nxt-ID shareholders who own common shares of Nxt-ID on the dividend date of October 15th, 2018 will own shares of both companies. The new company will include the assets acquired in the May 2017 business combination with Fit Pay, Inc. as well as the payment, authentication and credential management assets that the Company developed previously. Following the spin-off, the new company has an investment commitment for USD 6.0 Million to fund its operations. The Company will apply for listing on NASDAQ. It is currently developing digital payment and loyalty devices to be distributed through partners as well as payment devices that enable Bitcoin holders to make contactless payments at retail locations with value exchanged from their cryptocurrency. The assets of the new company will include a portfolio of payment, authentication and blockchain technology patents that have been filed by or issued to Nxt-ID and Fit Pay.
DPW Holdings, Inc. (NYSE: DPW), is a diversified holding company pursuing a growth strategy of acquiring undervalued assets and disruptive technologies with a global impact. DPW Holdings, Inc. recently announced that the historic Valatie Falls, New York hydroelectric dam, will become operational during the fourth quarter of 2018 to serve as a fully-dedicated source of low-cost, renewable power for a new co-located cryptocurrency mining farm to be built and operated by DPW's wholly-owned Super Crypto Mining subsidiary. DPW Holdings' Chief Executive Officer and Chairman, Milton "Todd" Ault, III said, "Our successful repurposing of Valatie Falls dam to provide clean, low-cost, renewable power to Super Crypto's future co-located mining farm is another important step in our strategy to create an economically viable, self-sustaining cryptocurrency mining business. This project provided a unique opportunity for DPW subsidiaries to collaborate and innovate to create a new model for cryptocurrency mining, for which electricity is by far the largest operational cost factor. Our power solution engineers at Coolisys Technologies, Inc. worked closely with our cryptocurrency mining engineers and with Valatie Falls Hydro, LLC's hydroelectric engineers to upgrade and retrofit the Valatie Falls dam for this exciting new phase of its long-lived operation. We look forward to bringing this innovative new facility fully on-line during the fourth quarter of 2018."
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