PALM BEACH, Florida, April 26, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
Blockchain and cryptocurrency have grown to become synonymous with one another as heightened security has become paramount in the open landscape of digital currencies. As regulation remains slow to develop, investors and business leaders are turning to blockchain to protect their investments and enhance financial operations as the latest developments in the industry this week have heighten the awareness as to the true safety and security of digital transactions. Blockchain is figuring to be a transformative technology in the business world, with a study performed by the BTL Group indicating 87% of executives feel the technology must change the way business is performed in multiple avenues. For example, Crypto lending is becoming more popular each day, it is paramount that lenders and borrowers are able to conduct safe and compliant transactions. Active companies in the markets this week include BlackChain Solutions Inc. (CSE: BIS), Atlas Cloud Enterprises Inc. (OTC: ATLEF) (CSE: AKE), HIVE Blockchain Technologies Ltd. (OTC: HVBTF) (TSX-V: HIVE.V), Long Blockchain Corp. (NASDAQ: LBCC), Seven Stars Cloud Group, Inc. (NASDAQ: SSC).
BlackChain Solutions Inc. (CSE: BIS.CN) BREAKING NEWS: Engagement announced today that it has signed a letter of intent with DMG Blockchain Solutions Inc., (TSX-V: DMGI) (DMG) to license DMG's Prometheus technology for deployment as part of BlackChain's P2P Lending Platform. Under the proposed license, BlackChain will retain exclusive rights for use of the technology for P2P Lending. DMG will be entitled to a royalty on commercial revenues generated by Blackchain using the technology. The parties intend to negotiate and finalize a definitive agreement by May 15th, 2018.
Prometheus is one of the first browser-based blockchain technologies developed by a Silicon Valley-based leader in blockchain and artificial intelligence - Blockseer. Blockseer, which has expertise from Harvard and Stanford, was recently acquired by DMG early in 2018.
The platform allows users to seamlessly connect on the blockchain via a traditional web browser, such as Chrome and Firefox. This drastically reduces the barriers to entry for blockchain participation. Daniel Reitzik, CEO and Director of DMG commented that "we are extremely pleased to be partnering with BlackChain on their first commercial venture. Prometheus represents the next generation in blockchain technology, whose simplified, browser-based platform is opening up whole new markets in the cryptocurrency space. We hope that this LOI will be just the beginning in a growing relationship between DMG and BlackChain."
Integrated with BlackChain's P2P Lending Platform, Prometheus opens the door to cryptocurrency asset lending for individuals, without the need of traditional banks. This opens up both sides of the trillion USD credit debt market to individual users. BlackChain's P2P Crypto-Lending Platform also provides users with the opportunity to leverage their existing cryptocurrency holdings to turning a static, speculative holding into a yield-bearing investment.
Zayn Kalyan, BlackChain's Chief Technology Officer commented on this agreement: "DMG and Blockseer have developed a truly next-generation blockchain platform with Prometheus. As the crypto space matures, evolutionary approaches to system design will be the foundation for growth. Prometheus will enable BlackChain to deliver a cutting-edge product in our P2P Lending Platform. We look forward to working with DMG on other projects in the future." Read this and more news for BlackChain at http://www.marketnewsupdates.com/news/bis.html
In other industry related developments in the markets of note:
Atlas Cloud Enterprises Inc. (OTC: ATLEF) (CSE: AKE) recently announced the appointment of Mr. Charlie Kiser to the position of Chief Executive Officer effective immediately. Mr. Kiser is a cryptocurrency and technology veteran. Along with his 20 years of technology experience, Charlie recognized and advocated for the disruptive potential of cryptocurrencies and blockchain in 2014 when he helped take the first pure-play bitcoin and blockchain company public in North America. As the earliest public crypto company, they leveraged both an operational and holding company strategy, investing in 4 crypto start-ups; GoCoin, covering payment processing; Coin Outlet, a bitcoin ATM and distribution network; Gem, a multi factor authentication wallet, and Expresscoin, a retail cryptocurrency outlet. The company built out one of the largest eCommerce platforms that accepted digital currencies, and ultimately moved into the emerging industrial cryptocurrency mining space.
HIVE Blockchain Technologies Ltd. (OTC: HVBTF) (TSX-V: HIVE.V) recently announced the completion of the second phase ("Sweden Phase 2") of a multi-phase build-out of a large-scale GPU-based mining complex in Sweden. The Sweden Phase 2 operation commenced mining at the end of March 2018 and increases the Company's run-rate energy consumption dedicated to cryptocurrency mining by 6.8 megawatts ("MW") to 17.4 MW, an increase of 65%. Sweden Phase 2 expands the first digital currency mining facility jointly constructed by HIVE and Genesis Mining Ltd. ("Genesis"), the world's largest digital currency mining hashpower provider. Sweden Phase 2 utilizes custom Genesis-designed A2 mining rigs that are over 25% more efficient than prior generations. Going forward, HIVE is fully financed to add a further 6.8 MW of GPU-based mining capacity in Sweden in April 2018 , and an additional 20.0 MW of ASIC-based mining capacity, capable of mining Bitcoin and Bitcoin Cash, by September 2018 , being total capacity of 44.2 MW.
Long Blockchain Corp. (NASDAQ: LBCC) recently released an update letter to stockholders. The full text of the letter is set forth below. Long Blockchain Corp. ("LBCC," "we," "us" or the "Company") has made rapid progress in its corporate transition with appointments of experienced financial technology ("fintech") professionals and blockchain innovators, the agreement to acquire a distributed ledger technology ("DLT" or "blockchain") solutions developer, and strategic investments in an established micro-lender and UK broker dealer. We believe these developments position the Company to establish a competitive footing in the fintech-DLT segment. We are working on establishing LBCC as a blockchain technology leader through our planned acquisition of Hashcove Limited ("Hashcove") and our recent investments in TSLC PTE Ltd., the parent of digital money and short-term financial product provider CASHe, and blockchain innovator Stater Blockchain Limited ("Stater"), all of which are discussed in detail below. We believe these are exciting opportunities and we look forward to providing ongoing updates as we drive these investments forward. We believe the change in our corporate strategy offers the opportunity to generate and deliver long-term value to our stockholders that will set us on a path to an incredible future.
Seven Stars Cloud Group, Inc. (NASDAQ: SSC) announced this week that as part of its overall growth strategy and intentions to expand and strengthen its US-based management team, the Company has hired Mr. M. Chad Arroyo as Chief Marketing Officer ("CMO"), effective immediately. Mr. Arroyo, whose core experience includes technology strategy and project management leadership roles across small to large scale organizations in the public, private, and defense sectors, will report to Mr. Robert G. Benya, who became SSC's Chief Revenue Officer in October of 2017. Both roles are newly-created and showcase SSC's ongoing evolution as a company that prides itself on innovation and driving high-impact business outcomes for its partners, customers, clients and shareholders.
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 forty nine hundred dollars for news coverage of the current press releases issued by BlackChain Solutions Inc. by a non-affiliated third party. MNU HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MNU undertakes no obligation to update such statements.