Venture Capitalist Interest Drives the Blockchain Market Forward

NEW YORK, August 14, 2018 /PRNewswire/ --

According to a report published by Global Market Insights, the blockchain market size is expected to exceed USD 16 Billion by 2024. The market saw approximately USD 1 Billion investment in blockchain technology in 2017. A major factor that drives the growth of the market is the increased spending by the venture capitalists. Additionally, it is also driven by the growing adoption of blockchain technology in the financial industry. The technology helps improve business operations in financial institutions as it enhances the efficiency of trade finance, cross-border payments, documentation or KYC, digital identity management, and collateral management. Victory Square Technologies Inc. (OTC: VSQTF), ChinaNet-Online Holdings Inc. (NASDAQ: CNET), Seven Stars Cloud (NASDAQ: SSC), GAIN Capital Holdings Inc. (NYSE: GCAP), HIVE Blockchain Technologies Ltd. (OTC: HVBTF)

The benefits of blockchain are encouraging more financial institutions to adopt the technology. Recently, the World Bank has mandated Commonwealth Bank of Australia for the world's first Blockchain bond. The bond will be created, allocated, transferred and managed using the distributed ledger technology. James Wall, Executive General Manager of International, CBA said in a statement: "We take a collaborative approach to innovating and have a track record of partnering with other leading financial institutions, government bodies and corporates to innovate through blockchain. We believe that this transaction will be groundbreaking as a demonstration of how blockchain technology can act as a facilitating platform for different participants."

Victory Square Technologies Inc. (OTC: VSQTF) also listed on the Canadian Securities Exchange under the ticker (CSE: VST). Just earlier today, the company announced breaking news that, "they have partnered with the VR/AR Association ("VRARA)" to host the 2018 VR/AR Global Summit ("Global Summit") on September 21 & 22 at the newly launched Parq Vancouver, a casino and entertainment complex in Vancouver Canada.

The Global Summit is the premier marketplace and conference for industry leaders in immersive technology content, knowledge and creation. The event will feature dynamic keynotes, collaborative conversations, workshops, creative hubs, demos, exhibits, breakouts and amazing VIP events. It will showcase the best, and most interesting projects, that the industry has to offer. Last year's Summit attracted 5000 people over three days, including 750 of the world's top VR, AR and MR professionals during the Industry Day.

It boasts an incredible list of speakers from companies such as Amazon, NASA, IBM Watson, The Vatican, HTC Vive, Adobe Systems and more, who will be offering their insight of how immersive technology is being used as a vital tool in the world's most progressive companies today.

During the Global Summit, Victory Square will host the first ever "Pitchfest". On Friday, September 21st, eight startup finalists will present their innovative technology and/or products to an audience of accredited global VR/AR investors dedicated to investing in game-changing entrepreneurs. After each finalist gives a 3 minute presentation, one startup will be selected to receive a prize of $15,000 USD.

"The VR/AR Global Summit provides VST a platform to bolster our deepening pool of incubation prospects while connecting our reach and influence into the network of elite industry giants," said Victory Square CEO Shafin Diamond Tejani. "Victory Square's immersive technologies and gaming division has generated over 300% year-over-year growth in revenues building customized games, AR/VR and immersive experiences for large global brands such as Chrysler, Intel, SONY, Paramount and TED."

"Our expectation is to continue seeing a significant growth trajectory in revenues in this segment of our portfolio since the demand for global augmented and virtual reality is expected to reach north of 200 billion U.S. dollars by the year 2022," continued Shafin Diamond Tejani. "It is because of this we see an incredible opportunity to not only scale our existing portfolio investments but to continue to build our pipeline of some of the best AR and VR solutions in the market today."

Victory Square is very pleased with the progress of its immersive portfolio, including companies such as: Shape Immersive, Immersive Tech, V2 Games and FloVR, as they continue to reach milestones and build out profitable businesses to attack significant market opportunities.  Strong growth from this segment comes from the ingenuity behind products such as FloVR's Virtual Reality Test Drive Simulator for Chrysler Canada, Immersive Tech's customized immersive pop-up experiences built for Intel and the world's first and most spatially accurate multi-player MR experience, created by Shape Immersive and presented at TED 2018.

"Having the support from Victory Square Technology as a Presenting Sponsor of the VR/AR Global Summit is truly an honor, and is helping to bring together a global community of some of the brightest minds in the VR and AR industry, as well as some of the leading brands utilizing VR and AR technologies," said Nathan Pettyjohn, President of the VR/AR Association.

About Victory Square Technologies Inc. - Victory Square Technologies is an emerging technology accelerator. Victory Square portfolio companies are disrupting every sector of the global economy including Blockchain, Artificial Intelligence, VR/AR/MR, Gaming and Payments. Victory Square has a proven process for identifying game-changing entrepreneurs and providing them with the partners, mentorship and support necessary to accelerate their growth and help them scale globally. For more information, please visit http://www.victorysquare.com.

About VR/AR Association (VRARA) - The VR/AR Association (VRARA) is an international organization designed to foster collaboration between innovative companies and people in the VR and AR ecosystem that accelerates growth, fosters research and education, helps develop industry standards, connects member organizations and promotes the services of member companies.

ChinaNet-Online Holdings Inc. (NASDAQ: CNET) is an integrated online advertising, precision marketing, and data analysis and management platform company. Recently, the Company announced the formation of its closed loop Business Opportunity Social Ecosystem (BOSE), a blockchain-powered marketing and advertising transaction system. BOSE is developed on the Company's Business Opportunity Chain (BOC) as a network that integrates the Company's existing marketing and advertising infrastructures with its blockchain-powered business opportunity transaction platforms such as BOH. The network is designed to address the problems that occur in modern advertising and marketing activities such as the fair distribution and monetization of business opportunities. The network will also improve the credibility of enterprises through the verification of sales leads and transactions.

GAIN Capital Holdings Inc. (NYSE: GCAP) provides innovative trading technology and execution services to retail and institutional investors worldwide, with multiple access points to OTC markets and global exchanges across a wide range of asset classes, including foreign exchange, commodities, and global equities. Earlier this year, the Company announced the continued rollout of the Company's cryptocurrency offering, with the recent launch of Ethereum, Litecoin, Ripple and Bitcoin Cash in the U.K., Europe, Australia and Singapore on the Company's FOREX.com and City Index services. GAIN has also expanded its Bitcoin offering, allowing customers to trade Bitcoin directly against the Euro (BTC/EUR), British pound (BTC/GBP) and Australian dollar (BTC/AUD), in addition to the U.S. dollar. GAIN offers cryptocurrency trading either as an over-the-counter (OTC) derivative or as a future, allowing traders to speculate on price movements without owning the underlying asset. 

Seven Stars Cloud (NASDAQ: SSC) is a global technology company focused on digital asset production and distribution. Seven Stars recently announced that it has successfully raised USD 12 Million from Advantech Capital Investment II Limited and restructured its Private Placement from GT Dollar to USD 10 Million. The Company will use these investments to accelerate the adoption of its artificial intelligence and blockchain-based technologies into various business verticals. Advantech Capital is a leading private equity fund focused primarily on high-growth and innovation-driven industry sectors. Advantech has taken a strong interest in SSC and its strategy to deliver leading AI and Blockchain solutions across industry verticals. As such, Advantech has subscribed to USD 12 Million via a Convertible Note with SSC. SSC will be working with Advantech to leverage their global reach and strategic relationships with leading manufacturing companies in Asia, ultimately driving value for SSC and creating synergies as part of SSC's Blockchain and AI driven strategy across industry verticals. Commenting on the announcement, Bruno Wu, Chairman and Chief Executive Officer of SSC, said: "We are very pleased to today announce a further strengthening of our financial position. These deals will help us continue to build out our unique ecosystem of Blockchain and AI technology partners, while at the same time rapidly scale our business and execute on our strategy."

HIVE Blockchain Technologies Ltd. (OTC: HVBTF) is a growth-oriented, TSX.V-listed company building a bridge from the blockchain sector to traditional capital markets. HIVE recently announced its results for the fourth quarter and full year ended March 31^st, 2018. FY 2018 Highlights include: Generated revenues of USD 13,081,395, with a gross mining margin1 of USD 10,139,931, from mining of digital currencies; Mined over 17,000 newly minted Ethereum and 54,000 Ethereum Classic coins during the year ended March 31^st, 2018, including fourth quarter production of 9,800 Ethereum and 34,000 Ethereum Classic coins representing an increase of 136% and 170%, respectively over third quarter production; Raised gross proceeds of USD 160 Million (CAD 203 Million) of growth capital during the year to finance rapid expansion and future growth opportunities and investments; Expanded operations with Genesis dedicated to GPU-based digital currencies such as Ethereum and Ethereum Classic in Sweden and Iceland, with a total of 17.4 megawatts ("MW") in production at March 31^st, 2018 and a further 6.8 MW commencing production after March 31^st, 2018. The Company currently has 20.4 MW in Sweden (the "Sweden GPU Data Centre") and 3.8 MW in Iceland, bringing the Company's digital currency mining footprint to a total of 24.2 MW since its Change of Business in September 2017.

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