Global Investments Into Blockchain Solutions are Expected to Grow Rapidly

NEW YORK, September 26, 2018 /PRNewswire/ --

Data compiled by the International Data Corporation indicates that global investments on blockchain solutions are projected to reach USD 11.7 Billion in 2022 while growing at a compound annual growth rate (CAGR) of 73.2% throughout the 2017-2022 forecast period. Blockchain is a digital ledger technology that will create permanent and unchangeable records. The financial sector is an early adopter of blockchain technology. Blockchain spending in the financial sector is expected to reach USD 552 Million in 2018 due to increasing adoption in many areas of financial services. The distribution and services sector will see about USD 334 Million of investment in blockchain from retail and professional services industries. Squire Mining Ltd. (OTC: SQRMF), Microsoft Corporation (NASDAQ: MSFT), Oracle Corporation (NYSE: ORCL), International Business Machines Corporation (NYSE: IBM), Walmart Inc. (NYSE: WMT)

Jessica Goepfert, Program Vice President, IDC's Customer Insights and Analysis, said: "We continue to see the greatest spending and growth for blockchain around lot lineage and asset and goods management. Highly visible scandals combined with complex supply chains and incomplete information set the stage for investments and projects in these areas. End to end, the stakeholders have a vested interest in solving these issues. Manufacturers want to ensure products arrive where they are supposed to arrive. Retailers and wholesalers seek assurance around the validity and quality of the products they are selling. And consumers are demanding greater transparency from providers."

Squire Mining Ltd. (OTCQB: SQRMF) is also listed on the Canadian Securities Exchange under the ticker (CSE: SQR). Yesterday, 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."

Microsoft Corporation (NASDAQ: MSFT) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Earlier this year, at Microsoft Build 2018, Microsoft Corp.'s annual developer conference, Microsoft leaders showcased new technologies to help every developer be an AI developer, on Microsoft Azure, Microsoft 365 and across any platform. Building for AI is more important to developers than ever, as technology continues to change the way people live and work every day, across the cloud and across edge devices. Microsoft is open sourcing the Azure IoT Edge Runtime, allowing customers to modify, debug and have more transparency and control for edge applications. A new initiative, Project Kinect for Azure - a package of sensors from Microsoft that contains the Company's unmatched time of flight depth camera, with an onboard computer, in a small, power-efficient form factor - designed for AI on the Edge. Project Kinect for Azure brings together this leading hardware technology with Azure AI to empower developers with new scenarios for working with ambient intelligence. The new Microsoft Azure Blockchain Workbench makes it easier to develop blockchain applications by stitching together an Azure-supported blockchain network with cloud services like Azure Active Directory, Key Vault and SQL Database, reducing proof-of-concept development time dramatically. "The era of the intelligent cloud and intelligent edge is upon us," said Satya Nadella, Chief Executive Officer, Microsoft. "These advancements create incredible developer opportunity and also come with a responsibility to ensure the technology we build is trusted and benefits all."

Oracle Corporation (NYSE: ORCL) Cloud offers complete SaaS application suites for ERP, HCM and CX, plus best-in-class database Platform as a Service (PaaS) and Infrastructure as a Service (IaaS) from data centers throughout the Americas, Europe and Asia. In an effort to accelerate blockchain innovation in Financial Services and other industries, Oracle recently announced it joined academia and banking industry leaders as part of the Carolina Fintech Hub (CFH) Generation Blockchain Challenge to encourage students to develop commercially viable and cross-industry blockchain applications. "Oracle's blockchain platform is built to enable rapid experimentation and provide enterprise-grade capabilities to simplify moving POCs and pilots into production," said Sanjay Mathew, Senior Director, Global Financial Services Industry, Oracle. "The scope of what the teams designed and built in seven weeks with this unique collaboration is impressive, and we look forward to having the teams evolve these projects into full solutions deployed on Oracle Blockchain Cloud Service. This could not have happened without the outstanding participation from motivated students, industry leaders, partners and academia combined."

International Business Machines Corporation (NYSE: IBM) is the leader in open-source blockchain solutions built for the enterprise. In a follow up to their January announcement, A.P. Moller - Maersk and IBM recently announced the creation of TradeLens, jointly developed by the two companies to apply blockchain to the world's global supply chain. TradeLens is the result of a collaboration agreement between Maersk and IBM, a blockchain-enabled shipping solution designed to promote more efficient and secure global trade, bringing together various parties to support information sharing and transparency, and spur industry-wide innovation. "We believe blockchain can play an important role in digitizing global shipping, an area of the global economy that moves four trillion dollars of goods every year. However, success with the technology rests on a single factor -bringing the entire ecosystem together around a common approach that benefits all participants equally," said Bridget van Kralingen, Senior Vice President, IBM Global Industries, Solutions and Blockchain. "Our work with Maersk and other enterprises in the shipping ecosystem has shown that blockchain can be used to form a strong, connected network in which all members gain by sharing important data and that together we can transform a vital part of how global trade is conducted."

Walmart Inc. (NYSE: WMT) helps people around the world save money and live better - anytime and anywhere - in retail stores, online, and through their mobile devices. Walmart and Sam's Club recently announced it sent a letter to suppliers of fresh, leafy greens asking them to trace their products all the way back to the farm using blockchain technology. Suppliers are expected to have all these systems in place by this time next year. This change means that the information gathered by these suppliers will be open and accessible through technology that offers real-time, end-to-end traceability from farm to table. Blockchain allows for digitized sharing of data in a secure and trusted way. "Customers trust us to help them put quality food on their tables for themselves and their families," said Charles Redfield, Executive Vice President of Food for Walmart U.S. "We have to go further than offering great food at an everyday low price. Our customers need to know they can trust us to help ensure that food is safe. These new requirements will help us do just that."

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