Why Rising Number of Industries Are Embracing Blockchain Technology Well Beyond Cryptocurrencies

PALM BEACH, Florida, February 15, 2018 /PRNewswire/ --

MarketNewsUpdates.com News Commentary 

Blockchain technology has applicability to many business areas including government, healthcare, education, manufacturing, energy and supply chain. Innovative Technology Companies continue to identify new uses for blockchain to deploy the technology in various industries. Blockchain technology enables developers to build software applications that deploy decentralized, immutable double-ledgers on networks that boast improved speed, security, and traceability to existing solutions. Disrupting startups and corporate behemoths will unleash a new wave of digital applications, products, and monetary infrastructure utilizing blockchain technology independent of cryptocurrencies.  According to a recent report from Netscribes Inc., the global blockchain technology market is expected to grow at a compound annual growth rate (CAGR) of 42.8%, to reach USD 13.96 billion by 2022. Active Companies in the markets this week include: Tapinator, Inc. (OTC: TAPM), Global Blockchain Technologies Corp. (OTC: BLKCF) (TSX-V: BLOC), Marathon Patent Group Inc. (NASDAQ: MARA), Riot Blockchain Inc. (NASDAQ: RIOT), MGT Capital Investments Inc. (OTC: MGTI).

Tapinator, Inc.(OTCQB: TAPM) BREAKING NEWS: Tapinator, a leading developer and publisher of mobile games and decentralized apps (DApps) on the iOS, Google Play, Amazon, and Ethereum platforms, today announces that it will soon be releasing BitPainting, a crypto-collectibles application for the global art market. A beta release of the platform is scheduled for this coming April, and interested collectors may sign up for Beta Access at BitPainting.com.

Tapinator's announcement is being made in conjunction with the Company's participation at ETH Denver , a leading blockchain conference taking place on February 16th-18th in Denver Colorado. Ilya Nikolayev, CEO of Tapinator, will be participating on a conference panel entitled "Art and Games on the Blockchain."Read this and more news for Tapinator at: http://www.marketnewsupdates.com/news/tapm.html

"We are very excited to announce the upcoming launch of BitPainting, a new digital platform for collecting iconic art on the blockchain," said Mr. Nikolayev. "The application is built on the Ethereum Platform and will rely on our proprietary smARTTM Contracts. We believe the $45 billion art market is ripe for disruption by blockchain technology through crypto-collectibles which will drive art sales via digital scarcity and will democratize fine art investment.

We believe Tapinator is well positioned to become a disruptor of the global art market through the BitPainting platform. We are excited to provide the market with further detail regarding the application as we get closer to our launch date," concluded Nikolayev.

In other industry developments from around the markets:

Global Blockchain Technologies Corp. (OTC: BLKCF) (TSX-V: BLOC.V) recently announced it has completed its previously announced acquisition of Coinstream Mining Corp. by way of three-corner amalgamation. Under the terms of the definitive acquisition agreement, GBT will acquire 100% of Coinstream and assume all of its existing assets and underlying agreements at present, including: The Manitoba joint venture facilities totaling 50 MW of capacity, with 35 MW of capacity available immediately. GBT's subsidiary, Global Blockchain Technologies Corp., will supply cryptocurrency mining units on the basis of a 70/30 split in favour of GBT. The wholly-owned Mozambique facility totaling 25 MW of capacity, with 10 MW of capacity available immediately. The Mozambique facility will host GBT machines and/or seek joint ventures for the rapid procurement of cryptocurrency miners.

Marathon Patent Group Inc. (NASDAQ: MARA) recently announced it has purchased 1,400 of Bitmain's Antminer S9 miners ("Antminer S9s"). The 1,400 Antminer S9s are expected to utilize an estimated 2.0 MW of power once fully deployed and add approximately 19 Ph/s of ASIC mining capacity. The Antminer S9s are able to mine any cryptocurrency using the SHA256 algorithm, including Bitcoin and Bitcoin Cash. These 1,400 miners are in addition to the previously announced 1,300 Antminer S9s purchased by Global Bit Ventures, Inc. ("GBV") on January 12, 2018 and the 1,000 GPU mining servers which GBV already owns. Once fully deployed, the combined 2,700 Bitmain S9 miners are expected to produce approximately 33 Ph/s of ASIC mining capacity in addition to the 1,000 GPU mining servers owned by GBV which are capable of 250 Gh/s.

Riot Blockchain Inc. (NASDAQ: RIOT) recently announced that it has invested an additional CAD $3.4 million in one of its portfolio holdings, goNumerical Ltd (dba "Coinsquare"). The investment is part of a CAD $30 million financing at a CAD $430 million post-money valuation. This valuation for Coinsquare is over fifteen times the valuation from Riot Blockchain's initial investment in September 2017 . Riot Blockchain additionally exercised its previously acquired warrants at a CAD $94 million valuation, and now owns approximately 12.5% of Coinsquare after the latest investment. "Coinsquare continues its rapid growth and execution while positioning itself as the leading digital currency exchange in Canada ," commented John O'Rourke , Chairman and Chief Executive Officer of Riot Blockchain. "We believe that Coinsquare offers the most compelling platform to transact in digital currencies in Canada. They will play a key role in advising Riot Blockchain on its efforts to establish a transparent and compliant United States -based digital currency exchange.

MGT Capital Investments Inc. (OTCQB: MGTI) also recently announced it has executed a new purchase order with Bitmain Technologies for 1,000 S9 Antminer mining rigs, with shipment expected in March 2018. Also, the Company purchased and has received an additional 1,000 new S9 Antminers from a third party. Following shipment and setup, and in conjunction with the Company's current rigs in operation or undergoing deployment, MGT's cryptocurrency mining operations will be comprised of over 7,000 Bitmain S9's plus 50 GPU-based Ethereum miners. The Company expects all rigs announced to date to be operating by the end of the first quarter of 2018, at which point the machines are expected to generate nearly 100 Ph/s of total hash power.

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