NEW YORK, May 10, 2018 /PRNewswire/ --
According to a new report published by Grand View Research, the global blockchain technology market size was valued at USD 604.5 million in 2016 and is expected to reach USD 7.59 billion by 2024, which would have a compound annual growth rate of 37.2 percent during the forecast period. The report indicates that increasing demand for blockchain technology in financial services, consumer or industrial products, technology, media and telecom, healthcare, transportation, and public sectors drive the growth in the market. Benefits of blockchain technology include facilitating faster transaction settlement, minimizing error rates and improving efficiency. Chineseinvestors.com, Inc. (OTC: CIIX), HIVE Blockchain Technologies Ltd. (OTC: HVBTF), Net Element Inc (NASDAQ: NETE), Seven Stars Cloud Group, Inc. (NASDAQ: SSC), Integrated Ventures, Inc. (OTC: INTV)
Interest of blockchain technology using in auto industry is also increasing rapidly. Last week, MOBI, the Mobility Open Blockchain Initiative, announced its formation to explore blockchain for use in a new digital mobility ecosystem. MOBI's partners included BMW, Ford, Renault, General Motors and other 26 companies. Chris Ballinger, Chairman and CEO of MOBI, said: "Blockchain and related trust enhancing technologies are poised to redefine the automotive industry and how consumers purchase, insure and use vehicles. By bringing together automakers, suppliers, startups, and government agencies, we can accelerate adoption for the benefit of businesses, consumers and communities."
Chineseinvestors.com, Inc. (OTCQB: CIIX) earlier this week the company announced that it, "has entered into a letter of intent ("Letter of Intent") to acquire the assets of XBTeller.com, a leading Colorado Cryptocurrency ATM and over the counter ("OTC") operation. The Letter of Intent contemplates: (1) a total investment by the Company of approximately $2,500,000, with $400,000 to be paid in cash and the remainder to be paid in the Company's restricted stock; (2) an additional investment in the operations of approximately $1,000,000, over the next twelve to eighteen months, that will provide for the expansion of the existing ATM network locations in Colorado and in other states as identified by the Company that will complement the Company's existing cryptocurrency and blockchain business; and (3) XBTeller.com founders Noah Berger and Alex Syal will join the ChineseInvestors.com, Inc. management team to lead the ATM/OTC operations. XBTeller.com currently has 9 ATM locations throughout Colorado and is currently reporting approximately $500,000 in unaudited monthly revenues, which includes over the counter transactions.
Chineseinvestors.com, Inc. CFO, Paul Dickman explained "The acquisition of XBTeller.com provides ChineseInvestors.com, Inc. the opportunity to expand its current cryptocurrency and blockchain business to include a retail facing service."
In 2017, the Company launched Bitcoin Millionaire, a daily cryptocurrency video newscast broadcast from the floor of the NYSE covering all aspects of the emerging digital currency world. Shortly thereafter, it expanded the coverage of its core internet education services with the launch of http://www.newcoins168.com, a free cryptocurrency and blockchain portal providing up-to-date news and investment education in the Chinese language covering cryptocurrency basics, trading guidelines, real-time market commentary and analysis covering cryptocurrency, blockchain technology and mining sector related stocks, trends and ETFs, and strategies and opportunities to capitalize on the cryptocurrency market. The Company is also exploring investments into cryptocurrency mining with its recent purchase of ASIC (Application Specific Integrated Circuit) machines used to mine SHA-256 or Scrypt mining algorithms to earn cryptocurrencies such as Bitcoin and Litecoin.
According to Dickman, "The combined synergy of the media and internet education services, the mining, and the ATM/OTC operations is expected to generate $10m-15m in revenue in the first twelve months following complete integration. The parties have until June 30, 2018 to enter into a definitive asset purchase agreement. In the furtherance of this objective, the Company has committed to provide a refundable earnest money deposit of $10,000 pending completion of the agreement."
HIVE Blockchain Technologies Ltd. (OTC: HVBTF) earlier this month announced the further expansion of its GPU-based digital currency mining complex with the completion of the third phase ("Sweden Phase 3"), which commenced mining at the end of April 2018. This is the second expansion brought online in the past month and the precise execution of the Company's mining roadmap has resulted in on-time completion of the facility. Sweden Phase 3 increases HIVE's energy consumption dedicated to cryptocurrency mining by 6.8 megawatts ("MW") to 24.2 MW, an increase of 39%. "HIVE is well positioned as an industrial-scale digital currency mining operator in stable jurisdictions with low-cost power and operating profiles. We continue to exhibit healthy gross mining margins and have a growing inventory of cryptocurrency. We are committed to achieving profitable growth and evaluating opportunities for the deployment of capital to further enhance shareholder value." said Harry Pokrandt, CEO and Director of HIVE.
Net Element Inc (NASDAQ: NETE) announced recently that its PayOnline subsidiary is partnering with Bank Sputnik to offer a comprehensive multi-channel payment facilitator solution for SMB merchants in the Russian Federation. This unique solution offers a set of tools not available from any other transaction processing company in the region and expands PayOnline's offerings beyond electronic commerce. PayOnline merchants have instant access to a suite of value-added merchant solutions which include credit card auto account updater, multi-currency pricing, tokenization, advanced fraud detection tools and smart transaction routing.
Seven Stars Cloud Group, Inc. (NASDAQ: SSC) is aiming to become a next generation Artificial-Intelligent (AI) & Blockchain-Powered, Fintech company. On April 17, 2018, the company announced a digital asset distribution agreement with GT Dollar Pte. Ltd. (GTD), a Singaporean-based global virtual credit clearing system operator connecting over 2 million businesses worldwide. GTD will be will launching a digital asset exchange and trading platform on its GT Dollar App that will exclusively facilitate the listing, quotation, trading and settlement of digital index products offered by SSC. The distribution agreement will offer the Company a built-in audience to market its digital financial products to by leveraging GTD's vast financial products sales network in Southeast Asia.
Integrated Ventures, Inc. (OTCQB: INTV) is focused on acquiring, launching and operating companies in the cryptocurrency sector ("BitcoLab"), mainly in digital currency mining, equipment manufacturing, sales of branded mining rigs ("Nemesis") and blockchain software development ("LoanFunder"). Recently, the company announced that it has entered into an Asset Purchase Agreement ("APA") with digiMINE, LLC, to acquire certain cryptocurrency assets, consisting of (1) 150 assorted ASIC miners and related mining equipment and (2) $175,000 in cash, to be used for the purchase of 145 assorted Antminers by Bitmain Technologies. The remaining capital will be deployed for the build out for the 5,900 sq ft warehouse facility, located in Marlboro, NJ.
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