Use Cases for Blockchain Technology Projected to Grow

NEW YORK, May 1, 2018 /PRNewswire/ --

According to a report from International Data Corporation, worldwide spending on blockchain solutions is expected to reach $2.1 billion in 2018, up from $945 million spent in 2017. Rapid adoption of blockchain technology in various industries drives the growth in blockchain investment. The United States is expected to hold the largest blockchain investment, followed by Western Europe, China, and transaction records. In the financial sector, the leading use cases include regulatory compliance, cross-border payments & settlements, custody and asset tracking, and trade finance & post-trade/transaction settlements. SinglePoint, Inc. (OTC: SING), Hashchain Technology Inc. (OTC: HSSHF), HIVE Blockchain Technologies Ltd. (OTC: HVBTF), Atlas Cloud Enterprises Inc. (OTC: ATLEF), Integrated Ventures, Inc. (OTC: INTV)

Bill Fearnley, Jr., research director of Worldwide Blockchain Strategies, said: "Interest and investment in blockchain and distributed ledger technology (DLT) is accelerating as enterprises aggregate data into secure, sequential, and immutable blockchain ledgers, transforming their businesses and operations. Many technology vendors and service providers are collaborating and working with consortiums such as the Enterprise Ethereum Alliance and the Hyperledger Projects to develop innovative solutions that improve processes such as post-trade processing, tracking and tracing shipments in the supply chain, and transaction records for auditing and compliance."

SinglePoint, Inc. (OTC: SING) just announced breaking news earlier today that its, "subsidiary ShieldSaver signs agreement with CarFax to provide detailed information directly to CarFax while being able to pull data from the CarFax system to further efficiencies within the ShieldSaver mobile application. ShieldSaver is building relationships with industry leaders and rapidly expanding its presence across the nation through relationships with international airport parking lot management companies such as WallyPark and LAZ Parking.

ShieldSaver utilizes proprietary License Plate Recognition (LPR) technology, ShieldSaver collects large quantities of important automotive and consumer data. There are many stakeholders that need access to this data; for instance, insurance companies have an interest in knowing that a windshield was actually in need of repair and that the repair was soundly completed. At the same time, much of the data that we collect is private and should only be shared with parties that have a legitimate need to access the data. As we expand our infrastructure, we will be storing our data in a blockchain based, distributed ledger with appropriate access controls to ensure that parties who need access to our data can retrieve it in the most secure and efficient manner.

"We are excited for this new relationship with CarFax, we believe there is a lot of opportunity to expand the relationship with CarFax. They are a fantastic company, the absolute leader in their space and we look forward to a long, synergistic relationship," states Wil Ralston President SinglePoint.

SinglePoint recently completed the acquisition of ShieldSaver and with the capital infusion the company has already grown to new levels and continues to add value to SinglePoint through IP and revenue. The two companies are working together and have started development of the automotive data collection application that will ultimately tie into SinglePoint blockchain technology developments."

Hashchain Technology Inc. (OTCQB: HSSHF) recently announced that it has entered into a binding letter agreement (the "Binding Agreement") to acquire 100% of the outstanding shares of a company ("Target") in consideration for the issuance of 55 million HashChain shares at a deemed price of $0.35 per share (the "HashChain Shares") equivalent to $19.25 million. "HashChain continues to fulfill our commitment to investors with fast-scaling cryptocurrency mining operations in ideal low-cost data centres, even as we continue to grow our business in other areas of the blockchain market," says Patrick Gray, CEO and founder of HashChain. "In under a month, the Company has increased our Rig count by 6,000 and we will continue to build on this momentum and increase the revenue stream from our core mining business."

HIVE Blockchain Technologies Ltd. (OTC: HVBTF) announced earlier in April 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%. "The completion of Sweden Phase 2 represents an important milestone for the Company as HIVE continues to grow operations and execute its 2018 development pipeline. Despite recent crypto market conditions, HIVE's current run-rate gross mining margins continue to be very healthy, and our operating costs on the first phase of Sweden to date have been materially lower than expected. This growth in our assets and sustained profits combined with our excess cash on hand has us well positioned to continue creating growth and shareholder value" said Harry Pokrandt, CEO and Director of HIVE.  

Atlas Cloud Enterprises Inc. (OTC: ATLEF) on April 10th advised that facility upgrades at its Washington State Grant County Data Center are advancing as scheduled. As previously reported, Atlas Cloud's five-megawatt (5.0 MW) Grant County Data Centre is undergoing renovations to become a dedicated Bitcoin mining facility. The Company is fully funded to complete its facility refit and has engaged an electrical engineering firm. Major distribution components have been sourced, and the utility company will provide a transformer suited to the proposed needs of the facility. At this time, electrical and echanical contractors are onsite, and the project is proceeding as planned with anticipated completion scheduled for Q2/18.

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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