Application of Blockchain Technology Continues to Rage for Future Transaction Management

Technology, Telecom & Internet

 

Blockchain technology has the potential to disrupt many industries in the future by changing the way companies process business transactions. Originally developed to facilitate the exchange of cryptocurrencies like bitcoin, blockchain will provide access to financial services for people all over the globe, especially those who don’t have access to traditional banking. Future Thinkers outlines several industries that are likely to benefit from blockchain technology for their business transactions (http://nnw.fm/MjaO8), including supply chain management, forecasting, the Internet of Things (IoT), insurance, ride sharing, cloud storage, voting, government services, energy management, online retail, real estate and healthcare. Businesses in these industries will adapt their processes to accommodate the number of people concluding transactions online, which is growing exponentially.  Victory Square Technologies, Inc. (CSE: VST) (OTC: VSQTF) (FWB: 6F6) (VSQTF Profile) is one of the leading companies taking advantage of the growth potential of blockchain technology by investing in and incubating entrepreneurial ventures in this sector. Other companies investing in business opportunities in online payment and blockchain technologies include Net Element, Inc. (NASDAQ: NETE) (NETE Profile)Riot Blockchain, Inc. (NASDAQ: RIOT), Longfin Corp. (NASDAQ: LFIN) and Overstock.com, Inc.(NASDAQ: OSTK).

Victory Square Technologies, Inc. (CSE: VST) (OTC: VSQTF) (FWB: 6F6) incubates and invests in entrepreneurs to create partnerships and joint ventures in various fields, including blockchain technology, virtual reality, artificial intelligence, personalized health, gaming and film. The company’s business model enables these entrepreneurs to access its creative workspaces, education programs, distribution partners and global mentorship networks. It also offers operational support to help these emerging companies scale their operations internationally.

Though most people are now familiar with blockchain, Victory Square’s involvement in the technology started before it went ‘mainstream’. Over three years ago, the company invested in the BTL Group, using its business model to grow the company to a $215 million organization recognized as the first public blockchain technology company. BTL’s core product is called Interbit, a blockchain platform used by some of the world’s largest companies and institutions to explore new business opportunities using private blockchains. BTL has developed blockchain solutions for companies in the energy, finance and gaming sectors.

As it continues to gain traction and pace alongside broader market growth, Victory Square is enhancing its networking efforts and exposure within the blockchain realm. The company recently partnered with the North American Bitcoin Conference, a part of the World Blockchain Forum, which will allow the company to be among the presenters at a major conference in Miami on January 18-19 (http://nnw.fm/0at7R). Organized by Keynote Events, the conference will be attended by more than 1,500 leading shareholders in the blockchain and cryptocurrency sectors and will cover a wide range of related topics such as blockchain, bitcoin and Ethereum, regulations in the field, initial coin offerings and more. The partnership will allow Victory Square the opportunity “to engage with some of the most promising startups and respected blockchain thought-leaders in the world,” according to CEO Shafin Diamond Tejani. A focal point for the company will be participation in the “Pitch Your ICO” sessions, where over 30 leading blockchain companies will present to some of the most notable investors in the industry.

On the topic of ICOs (initial coin offerings), Victory Square has its hand in the game with plans to purchase $500,000 of cryptocurrency tokens in Bluzelle Platform Pte. Ltd.’s token sale (http://nnw.fm/8lSb8) coming up later this month.  Bluzelle is a leading decentralized database service recognized as a “technology pioneer” by the World Economic Forum. Backed by experience building enterprise-grade blockchain technology for reputable businesses such as KPMG, Microsoft, HSBC and others, Bluzelle is poised to gain considerable traction at its ICO. As an early contributor to the ICO, Victory Square is privy to an additional 25 percent of bonus Bluzelle tokens.

Another recent endeavor is Victory Square’s interest in the game-changing role of blockchain technology in the creation of a global decentralized Internet via software-defined wide-area networking (SD-WAN). The company has signed a letter of intent to acquire a 20 percent stake in SD-WAN company Multapplied Networks Inc. (http://nnw.fm/Rq3a2) – an organization focused on supporting service providers to incorporate SD-WAN technology into their existing services to develop a decentralized Internet. Multapplied Networks is already serving a considerable portfolio of global partners across North AmericaEuropeAfricaAsia and Australia.

A promising industry with regard to blockchain implementation for secure transactions is the fast-growing sports betting industry – another sector Victory Square is already exploring. The global online gambling market is expected to reach $59.79 billion in 2020 from $37.91 billion in 2017, according to Statista. Of this, the esports segment is responsible for over $696 million in revenue for 2017, a figure expected to increase to $1.5 billion by 2020, according to a Newzoo report (http://nnw.fm/X1llW). While traditional payment services such as digital wallets and banks have been typically wary of supporting the online gambling sector, blockchain technology has the potential to significantly transform the industry by enabling easier payments, a more transparent betting process and overall more positive experiences for the users.

Recognizing the market opportunity within this burgeoning sector, Victory Square’s FansUnite Media Inc. subsidiary has already integrated blockchain technology into its development of a social sports betting platform that enables community members to collaborate, discuss and predict the winners of sporting events using free virtual currency. FansUnite recently introduced FAN tokens for gaming, purchased with cryptocurrency to enable consumers to place bets and earn more tokens by participating in the company’s Bounty program. FansUnite co-founder and CEO Darius Eghdami has expressed confidence that its dynamic and responsive betting platform will enable the company to develop into the gold standard for sports betting sites worldwide.

The success of this blockchain application has encouraged Victory Square to incorporate this technology in its other subsidiaries and divisions. On December 11, 2017, Victory Square announced that its subsidiary, VS Blockchain Assembly Inc., has been developed to provide blockchain and cryptographic services to the other enterprises within its portfolio (http://nnw.fm/7lvQv). It will provide guidance on blockchain technology architecture and development, and facilitate banking, legal and commercialization services. Blockchain Assembly will also assist these companies to raise capital, either through private funding, public markets or token generation events.

Victory Square’s investment strategy also includes a range of endeavors that demonstrate its expertise outside blockchain technology.  Victory Square Health Inc., which focuses on developing solutions in personalized health technologies. Victory Square Health has in turn invested in Personalized Biomarkers Inc. (“PBI”), a company that develops test kits to predict the response to therapies prior to prescription. PBI is initially focusing on diabetes, identifying five potential biomarkers and enabling the company to enter a $4 billion market opportunity. In partnership with Insight Diagnostics Inc., Victory Square Health is developing a personalized diagnostic solution for the prevention and management of Type II diabetes.

Victory Square has also been instrumental in the incubation of V2 Games, a studio for the development and publishing of high-quality mobile games. V2 Games is best known for its launch of PAC-MAN Bounce and Beast Brawlers, which has resulted in millions of downloads globally.

Victory Square CEO Tejani has stated his confidence that all these companies within its portfolio will have an influential role to play in the evolution and growth of the company to maximize returns for its investors.

A player new to blockchain but well-versed in payment innovations is Net Element (NASDAQ: NETE), a technology-driven company that specializes in mobile payments and value-added transactional services. It owns Unified Payments, a provider of bankcard payment processing services and value-added solutions in the U.S., as well as owns Aptito, a next generation cloud-based point-of-sale (POS) payments platform, and Restoactive, a digital add-on for POS legacy systems. The company’s stable also includes Payonline, a fully integrated, processor agnostic ecommerce platform. On December 20, 2017, Net Element recently announced that it is launching a blockchain-focused business unit to develop a cryptocurrency-based ecosystem to enable merchants to connect with consumers (http://nnw.fm/0lB6b). This announcement resulted in its shares rocketing more than four-fold to a 16-month high.

Riot Blockchain (NASDAQ: RIOT) targets investments in blockchain technology by identifying unique projects in decentralized markets, with its primary focus on the Bitcoin and Ethereum blockchains. The company’s portfolio includes Verady, which provides cryptocurrency accounting and audit technology services through VeraNet. This application enables companies and individuals to account, audit and report on blockchain assets, while providing a bridge between cryptocurrencies and traditional financial accounting. Riot Blockchain also owns Coinsquare, a leading Canadian digital currency exchange, which provides a user-friendly, secure, cost-efficient and trustworthy way to purchase digital assets. Tesspay also falls within Riot Blockchain’s portfolio, and plans to develop a blockchain-based escrow service for wholesale telecom carriers. The company has also launched a Bitcoin mining operation.

A U.S.-based financial technology company, Longfin (NASDAQ: LFIN), provides finance and foreign exchange hedging solutions for importers, exporters and SMEs worldwide. The company uses blockchain technology to enable trade finance solutions globally for SMEs, manufacturers, processors, importers and exporters using cryptocurrencies. It also provides financing for companies and lower credit rated banks using insurance wrap. Longfin’s vision is to securitize and finance carry trade and asset backed solutions for companies, while aiming to connect with 70 forex and spot exchanges, and over 300 banks across the world. On December 18, 2017, Longfin stock rose almost five-fold on the news that it had bought Ziddu, a blockchain technology provider for micro lending, warehouse finance, trade finance, bullion trading and real-time derivative settlements.

Another company long in support of cryptocurrencies and blockchain technology is Overstock.com(NASDAQ: OSTK). Overstock founder Patrick Byrne recently announced the company’s Medici Ventures has signed a memorandum of understanding to create DeSoto, a company built to work on blockchain. According to a December 27, 2017, the goal of the new company is to develop a blockchain-based system to develop a global property registry system focused on the property rights of people in the developing world. Overstock’s portfolio company “Bitt” also recently launched its new mMoney digital payment product in Barbados. Under the mMoney brand, Bitt is bringing a blockchain-based mobile wallet that allows users to participate in digital transactions on their smart phones from a secure account, a company press release states (http://nnw.fm/3nnAW).

Blockchain technology has generated a large amount of interest and excitement in many industrial sectors for its potential to facilitate faster and more secure business transactions. These companies are some of the leading enterprises well-positioned to capitalize on the future development and adoption of this technology.

For more information on Victory Square, visit Victory Square Technologies, Inc. (CSE: VST) (OTC: VSQTF) (FWB: 6F6).

For a more in-depth look into Victory Square (CSE: VST) (OTC: VSQTF) (FWB: 6F6), view the full report on Microsmallcap.com.

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Blockchain’s Revolutionary Potential Goes Well Beyond Just Bitcoin Cryptocurrency

Uncategorized

 

A growing number of publicly traded companies are making big moves to join the cryptocurrency and blockchain technology frenzy. A few companies are even putting current business operations on the back burner while reorganizing to take advantage of emerging opportunities in the most disruptive, hottest sector to pop up in some time. This rapidly growing phenomenon signals opportunity and for some, a risk for capital seeking exposure to blockchain’s volatile shift into the mainstream across a growing list of industries. Technology moves so rapidly that new approaches or ideas can emerge – and fade – within short timescales. Blockchain could disrupt whole industries, by changing how trading is carried out and how transactions are processed and cleared and is being hailed as one of the most revolutionary and disruptive technological advances of today. Active Companies in the markets this week include: Mansfield-Martin Exploration Mining, Inc. (OTC: MCPI), Long Blockchain Corp. (NASDAQ: LTEA), Glance Technologies Inc. (CSE: GET) (OTC: GLNNF), MGT Capital Investments, Inc. (OTC: MGTI), Overstock.com, Inc. (NASDAQ: OSTK).

Mansfield-Martin Exploration Mining, Inc. (OTC: MCPI) announced today that it has expanded its preliminary arrangement with Qu Ltd. Mansfield-Martin previously agreed to provide up to 5 million oz. silver doré to Qu, Ltd. to support the Silverback ICO. Joint Venture owners in the Mine Run Program will now have the option of taking returns in Silverbacks, Qu Ltd.’s current ICO, as well as doré or US currency.

The Silverback is a cooperative decentralized crypto coin running on the Ethereum block chain. Qu Ltd. will offer 5,000,000 coins, each backed by 1 oz. of .999 silver. Pricing for Silverbacks will be exclusively in Ether, and set at a sliding discount to spot silver pricing: 50% over the first 10 days; 25% over the second 10 days; 10 % over the third 10 days; and 5% over the fourth 10 days. The ICO has a term of 60 days; thereafter, Silverbacks will be priced by traditional auction/bid-ask methods. If less than 75% of the Silverbacks are purchased, all funds will be returned to subscribers. Read this and more news for Mansfield-Martin Exploration at: http://www.marketnewsupdates.com/news/mcpi.html

Mansfield-Martin’s Mine Run Program covers processing of approximately 165,000 tons of previously mined and unprocessed materials on four historic mine sites in the Tombstone Mining District. Preliminary estimates are for upwards of $55 million in silver, gold and other metals to be produced from these deposits. The company anticipates delivery of its portion of the silver production to Qu, Ltd. in accordance with the parties’ streaming agreement, with a portion of the payment in Silverbacks. The other parties in the joint venture can now elect the same crypto-currency payment option.

In other industry developments from around the markets

Long Blockchain Corp. (NASDAQ: LTEA) yesterday announced the appointment of Shamyl Malik, Global Head of Trading at Voltaire Capital, and Som Ghosh, a technology entrepreneur with experience in Blockchain technology, to its Board of Directors (the “Board”). These appointments are nominees of the lender in the Company’s recently announced convertible debt facility and are consistent with the Company’s previously announced plan to shift its primary corporate focus towards Blockchain technology. Both Mr. Malik and Mr. Ghosh are deemed to be independent directors under the NASDAQ listing rules. Philip Thomas, Chief Executive Officer of the Company, commented, “We are thrilled to have Shamyl and Som join the Board during this exciting period of growth and evolution. They bring a wealth of experience and knowledge in the financial technology sector, and we are confident that they will help to shape the future of the Company as it pivots into Blockchain technology.”

Glance Technologies Inc. (CSE: GET.CN) (OTCQB: GLNNF) has reached another milestone: Since Glance launched the current version of its proprietary fraud-prevention technology more than one year ago, its platform has experienced zero fraud across all of its live locations and all Glance Pay Anywhere remote payments. Glance intends to apply elements of its fraud-prevention technology to its upcoming rewards and loyalty-based cryptocurrency platform. “We firmly believe that both traditional and cryptocurrency payments will largely be done via mobile devices,” said Glance chief executive officer, Desmond Griffin. “Payment fraud is a significant problem for anyone accepting payments and we believe it is currently a barrier to the adoption of cryptocurrencies. Thus we believe that platforms which can reduce or eliminate fraud will be best positioned to succeed in the long run.”

UAHC Ventures, LLC, a wholly-owned subsidiary of United American Healthcare Corporation, executed a Settlement Agreement on December 7, 2017 by and between UAHC Ventures and MGT Capital Investments, Inc. (OTCQB: MGTI) to resolve certain disputes that arose between UAHC Ventures and MGTI related to that certain Secured Convertible Promissory Note dated August 18, 2017 issued by MGTI to UAHC Ventures in the original principal amount of $2,410,000.00 and that certain Warrant to Purchase Shares of Common Stock purchased from MGTI by UAHC Ventures pursuant to that certain Securities Purchase Agreement dated August 18, 2017Read the entire announcement here. With facilities in WA state and Sweden, MGT Capital Investments, Inc. ranks as one of the largest global Bitcoin miners. Further, the Company continues to exercise a disciplined expansion strategy to grow its crypto assets materially.

Overstock.com, Inc. (NASDAQ: OSTK) closed up over 10% on Wednesday trading over 4.4 Million shares by the market close and was further up over 2% in afterhours trading. Blockchain leader Bitt recently launched its new mMoney digital payment product in Barbados. The Barbados Entrepreneurship Foundation (BEF) and several of its strategic partners participated in the soft launch, which marked the region’s first “digital dollar only” event. Overstock.com’s (OSTK) blockchain investment vehicle Medici Ventures owns stock and options on 34.8 percent of Bitt. Under the mMoney brand, Bitt is bringing to market a blockchain-based mobile wallet that allows users to participate in digital transactions on their smartphones from a secure account. The accounts will be 100 percent backed by segregated funds in appropriate currencies in Bitt’s custody. “mMoney is mobile money.

DISCLAIMER: MarketNewsUpdates.com (MNU) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. MNU is NOT affiliated in any manner with any company mentioned herein. MNU and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. MNU’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. MNU is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed MNU has been compensated seventy four hundred dollars for news coverage of the current press release issued by Mansfield-Martin Exploration Mining, Inc. by a non-affiliated third party. MNU HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

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Can Blockchain Bring an End to Corruption

Business, Technology

mThe Roman historian Tacitus once famously quipped “the more corrupt the state, the more numerous the laws”. Every year, roughly 2 percent of global GDP is lost to public sector corruption alone – at a hefty $2 trillion this equals to Italy’s GDP. Included in today’s commentary: Pure Storage Inc (NYSE:PSTG), Microsoft (NASDAQ:MSFT), Nvidia Corporation (NYSE:NVDA), Cisco Sytems (NASDAQ: CSCO), Advanced Micro Devices Inc (NASDAQ:AMD).

The total cost of corruption stands even higher, at 4-5 percent of global GDP. Countries across all continents lose substantial parts of their budgets to corruption. Some African nations see up to a third of their budgets go down the corruption drain.  After thousands of years of fighting against corruption, blockchain might just be the answer everyone was searching for.

In Africa, where contract procedures are either non-existent or highly opaque (and can lead to the most unpredictable outcomes), Blockchain can streamline business deals by rendering the manifold middlemen obsolete.

In Latin America, where changes to public registries are impossible to track, hence by virtue of a hefty bribe land parcels might discreetly change hands in a matter of minutes, blockchain could sanitize whole clusters of corrupt public authorities.

But it’s not solely confined to developing countries – numerous Western conglomerates routinely hand out bribes to lock in deals, just as politicians regularly represent the interests not only of their constituents.

Blockchain seems to be on the verge of radically transforming the way we vote and our trust in the ballot: We would no longer need to stand in queues and be physically present at the ballot box-we could simply vote from home, or anywhere at all. More importantly, by creating immutable ledgers, blockchain would make it impossible to tamper with our votes – proxy voting, ballot destruction and ballot stuffing would become mere anachronisms. This would also alter people’s perception of political power. Now, around a third of voters in both developed and developing countries do not trust the outcome of elections. If voters were given a fully transparent voting process, trust in public authorities would rise.

Some countries are already taking their first steps in this direction. The city of Moscow intends to use blockchain in a city management platform where inhabitants could track voting on city projects in real time. From there, it takes only one step to implement it in nationwide voting mechanisms. And from there, just one step to implementing transparency across myriad political processes that are in everyone’s best interest.

Increased transparency in political processes reduces the risk of tax evasion, thanks to which the risk that short-received government revenues will be rerouted from investments in infrastructure or education towards to band-aiding state finances ought to be nullified.

“We understand that the assimilation of blockchain-based voting technology and disintermediated governance tools will take place at variable speed,” Rik Willard, CEO of Global Blockchain Technologies Corp. (BLOC), told Oilprice.com.

BLOC is hoping to radically confine the space for corruption by eliminating unnecessary intermediaries and rendering political processes as transparent as ever, and as Willard says: “We are ready for that and intend to spearhead this much-needed transformation.”

Blockchain-based voting mechanisms would ultimately lead to the demise of dictatorships which maintain the superficial appearance of a democracy – decentralized technology is the exact opposite of what repressive regimes can survive under.

Of course, military dictatorships would steer clear of blockchain: it is very difficult to imagine North Korea, for instance, having a go at it. Yet the manifold quasi-democratic countries which exteriorly hold regular elections, claim to follow market mechanisms and hold democratic ideals dear will be forced to become more transparent under the weight of blockchain technologies.

Documents will be no longer owned by one single party and stored on a single server; document forgery would not be validated due to consensus protocol. Russia is a pertinent case in point as applying blockchain in a society where corruption has pervaded all spheres of life will bring palpable results in the very near future, to the surprise of many.

Evidence shows that the implementation of blockchain mechanisms can not only cleanse a given country’s political system, but could also spur economic growth.

Should public land registries across Africa be made fully transparent, land might be used as collateral for loans, thereby allowing millions of entrepreneurial Africans to leverage their property. This is supported by academic evidence; namely, that any reduction in corruption levels bolsters domestic and foreign investment as the fears of economic actors that the allocation of resources is disproportionally skewed gradually subside.

International organizations might also put blockchain to good account.

The international football association, FIFA, has been bogged down in myriad scandals with regard to its decision-making mechanisms. With blockchain, voting procedures would be as transparent as crystal, massively narrowing down the potentiality of another bribery scandal.

Even greater gains could be attained in international aid, the sphere where misappropriation reached its full zenith. Blockchain would allow to track down all financial transactions which followed the assignment of humanitarian or development aid – this is sorely needed as the history of World Bank development loans is replete with stories when the allocated funds were misused by a third-world country tribe chief to build a football stadium even though the declared objective was to build a school or hospital.

Some might perceive blockchain as a direct threat to the way governments exist nowadays, yet one could hardly find a better tool to dramatically increase the efficiency of public authorities with little to no transition roadblocks.

Big banks and major corporations are already taking advantage of this technology.

At the center of the blockchain boom in banking is the R3 Consortium. Since its inception in 2014, the consortium has been joined by a number of the world’s top banks, including Goldman Sachs, JP Morgan, and Citi. In addition to its impressive list of members, the consortium is also partnered with the likes of Microsoft, Intel, HP and InfoSys.

Immutability of data and process transparency will become key concepts of the 21st century and blockchain will prove that our past understanding of transparency was just a pale version of what can be achieved. As demonstrated by Global Blockchain Technologies, moving towards blockchain is not a question of ‘if’–rather of ‘when’ – and that ‘when’ will happen very soon.

Companies to keep an eye on in this space:

Pure Storage Inc (NYSE:PSTG) knows that data platforms are also a key asset in protecting companies against cyber-attacks. Pure Storage, Inc is a data platform focused on delivering fast, optimized and cloud-capable solutions for its customers while keeping data security as a top priority.

Microsoft (NASDAQ:MSFT) is one of the most innovative and well-known companies within the tech sector, but its Windows platform is the most widely used operating system on the planet. First launched in 1985, Windows has shaped what is expected from a personal home computer.

Nvidia Corporation (NYSE:NVDA): Nvidia is one of the hottest stocks on the market right now, and the top performer across the entire S&P 500. This stock has gone in only one direction-up. NVDA designs graphics processing units for the gaming and professional markets, as well as system on a chip unit for the mobile computing and automotive market. Nvidia’s chips are the best out there-at least the fastest.

Cisco Sytems (NASDAQ: CSCO) is a major player in telecommunications hardware. With a market cap of more than $185 billion, the company earned $49 billion in 2015 and $48 billion in 2016. For years Cisco was a stable stock, though one that showed very little growth. But in 2018 the company plans on pivoting away from its old staples towards new products.

Advanced Micro Devices Inc (NASDAQ:AMD) is Nvidia’s biggest competitor. The company has developed a cult following among gamers, leading to many a Reddit debate. AMD’s groundbreaking technology not only rivals that of Nvidia, some even argue that it outperforms it. As the two square off, one of the key areas to keep an eye on is in the GPU race.

By Viktor Katona for Oilprice.com

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