Global Blockchain Closes Acquisition of Coinstream

Blockchain
Depositphotos/Slavkosereda

VANCOUVER, British Columbia, March 02, 2018 (GLOBE NEWSWIRE) — GLOBAL BLOCKCHAIN TECHNOLOGIES CORP. (CSE:BLOC) (FSE:BWSP) (OTC:BLKCF) (“BLOC” or the “Company”) is pleased to announce that it has closed the acquisition of Coinstream Mining Corp. (“Coinstream”) previously announced on February 13, 2018, by way of a three-corner amalgamation. Under the terms of the definitive acquisition agreement (the “Agreement”), BLOC acquired 100% of Coinstream and assumed 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. BLOC’s subsidiary, Global Blockchain Technologies Corp., will supply cryptocurrency mining units on the basis of a 70/30 split in favour of BLOC.

The wholly-owned Mozambique facility totaling 25 MW of capacity, with 10 MW of capacity available immediately. The Mozambique facility will host BLOC machines and/or seek joint ventures for the rapid procurement of cryptocurrency miners. These facilities have an average power cost of USD$.03 per KwH.

A 25% interest in Distributed Mining Inc. (“Distributed Mining”). Distributed Mining is a blockchain software company creating software that enables all devices to have the ability to participate in mining cryptocurrency. The software will be available to be downloaded through Distributed Mining, or through its partner sites. Connected devices will then be able to activate mining operations through their devices (including but not limited to mobile phones and gaming consoles).
Distributed Mining would allow anyone with a connected device to download and install a software packet, giving the user access to optimized cryptocurrency mining. The distributed mining platform will be able to optimize for variable mining requirements, and its design is particularly well suited for gaming consoles, of which there are over 100 million currently connected units. Gaming consoles contain stronger processing power than that found in typical laptop/desktop computers, making them the perfect environment to deploy the distributed mining platform as individuals are able to put their resting consoles to work, earning them valuable cryptocurrency tokens.

Both the Manitoba and Mozambique facilities are managed by personnel who are seasoned in the operation of cryptocurrencies, providing a turnkey and lean solution to BLOC.

The Company issued 32.5 million shares to the Vendors of Coinstream to satisfy the terms of the Agreement. No finder’s fees were paid on this transaction.

The Company has also closed a private placement of 9,090,909 units (“Units”) for gross proceeds of $5,000,000. Each Unit consists of one common share issued at $0.55 per share (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant may be exercised by the holder to purchase an additional Share at a price of $0.75 for 24 months from closing.

The net proceeds of the Private Placement will be used towards investment in or incubation and creation of new blockchains in partnership with leading brands and industry participants whose principal areas of business truly merit and benefit from decentralization and the blockchain. In addition the Company will evaluate new projects and possible acquisition(s) of other target Companies and general working capital.

The Units have a four-month hold period expiring on July 2, 2018. No finder’s fees were paid in connection with the Unit issuances.

About Global Blockchain Technologies Corp.

Global Blockchain Technologies Corp. provides investors access to a basket of direct and indirect holdings within the blockchain space, managed by a team of industry pioneers and early adopters of all major cryptocurrencies.

BLOC is listed on the Canadian Securities Exchange (“CSE”) and its common shares trade under the ticker symbol “BLOC.” Additional information relating to BLOC is available on SEDAR at www.sedar.com, the CSE at www.theCSE.com, as well as on the Company’s website at www.globalblockchain.io.

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved”. Forward-looking information includes, but is not limited to the Company’s goal of streamlining the current arduous, lengthy and complicated process that interested investors need to undergo in order to gain exposure to the cryptocurrency space with a view to becoming the first vertically integrated originator and manager of top-tier blockchains and digital currencies. The Company has no assets and its business plan is purely conceptual in nature and there is no assurance that it will be implemented as set out herein, or at all. Forward-looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made, including but not limited to: statements and expectations regarding the ability of the Company to (i) successfully engage senior management with appropriate industry experience and expertise, (ii) gain access to and acquire a basket of cryptocurrency assets and pre-ICO and ICO financings on favourable terms or at all, (iii) successfully create its own tokens and ICO’s, and (iv) execute on future M&A opportunities in the cryptocurrency space; receipt of required regulatory approvals; the availability of necessary financing; permitting and such other assumptions and factors as set out herein. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks related to changes in cryptocurrency prices; the estimation of personnel and operating costs; general global markets and economic conditions; risks associated with uninsurable risks; risks associated with currency fluctuations; competition faced in securing experienced personnel with appropriate industry experience and expertise; risks associated with changes in the financial auditing and corporate governance standards applicable to cryptocurrencies and ICO’s; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalization and liquidity risks including the risk that the financing necessary to fund continued development of the Company’s business plan may not be available on satisfactory terms, or at all; the risk of potential dilution through the issuance of additional common shares of the Company; the risk of litigation. Although the Company has attempted to identify important factors that could cause actual results to differ materially from the forward-looking information set out in this presentation, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

United Nations Partners with Crypto Startup to Explore Blockchain

United Nations exploring Blockchain

The United Nations exploring blockchain technology is a step in the right direction.  

What Happened?

On Thursday, the world was informed that a cryptocurrency wallet startup, ‘Blockchain’, has partnered with the United Nations to look into the various applications of blockchain technology. More specifically, the U.K.-based startup and the United Nations will be looking into using blockchain for areas such as natural resource conservation and protecting democratic systems.

The crypto wallet startup will be working with volunteers from the UN Development Program, the World Economic Forum, and the UN Refugee Agency. It’s not a total surprise the United Nations is interested in the applications of blockchain. After all, the question of whether or not blockchain can be an avenue for addressing some of the areas in the United Nations’ Sustainable Development Agenda has been a frequent topic of discussion.

More specifically, in 2016, at a New York UN meeting about sustainable development, members discussed the potential blockchain has to achieve various sustainable development goals.

Blockchain has become extremely popular over the past year and a half. Its essentially the brains behind virtual currency bitcoin – and we all know how much people love bitcoin. It is for these reasons I’m not surprised to see an interest in blockchain spark in the world. According to vice chairman of the commission, Fernandez de Cordova, “the future is now,” and I couldn’t agree more.

I’m not alone either – there is a number of countries and central banks pivoting into the blockchain sector. In fact, earlier this week, Taiwan’s central bank stated that it is going to commence exploring blockchain more closely. The governor of the central bank said blockchain technology has the power to change and advance financial systems.

>> More Banks Looking into Blockchain

Meanwhile, the currency that blockchain powers is not doing as well with world leaders as the technology itself is. What does that mean? Well, let’s just say a number of countries have called for cryptocurrency regulation to be discussed at the upcoming G20 Summit.

Featured Image: Twitter

Taiwan’s Central Bank Looking into Blockchain Technology

Taiwan's Central Bank

Looks like we have yet another central bank moving into the blockchain industry.

Taiwan’s Central Bank

On Monday, the world was informed that Taiwan’s central bank plans to start exploring blockchain technology in-depth. More specifically, according to Yang Chin-long, the new governor of the central bank, the small island nation wants to start using blockchain to improve a number of its operations.

Financial technology has become immensely popular as of late, so it’s not surprising that Chin-long’s agency wants to start taking note of all that goes on in the sector. After all, no one wants to get left behind when a new piece of technology emerges. We saw this when the Internet first surfaced.

>> Russia’s Central Bank Developing Blockchain Payment System

The Taiwan central bank governor did not go into much detail about how it plans on exploring the technology but did state that it will remain open-minded on all that happens in the sector. Further, Chin-long stated that he recognizes that blockchain technology could help to alter Taiwan’s currency policy and payment sector in a positive manner.

Mentioned briefly, this is not the first central bank to come forward and discuss blockchain technology. There have been a number of central banks, like the European central bank, who have stated that they are not fans of cryptocurrencies or blockchain, while others, such as Saudi Arabia’s central bank, are completely invested in these industries.

I suppose it just boils down to what these banks think blockchain and virtual currencies can do to their own financial systems. Based on Chin-long’s speech yesterday, it appears Taiwan is in the same boat as Saudi Arabia.

>> Bitcoin News

To end, the Taiwan central bank governor stated that he forecasts that during his tenure, the bank will start to look into using blockchain technology to advance both the efficiency and security of the nation’s electronic payment system.

Featured Image: Depositphotos/© TKKurikawa

Russian Bank to Develop Blockchain-Based Payment System

blockchain

Everyone seems to be interested in Blockchain. It might even be more popular than cryptocurrency itself. Or is that too much of a stretch? Either way, there have been a number of companies and banks announcing pivots into the blockchain sector. Now, it seems the latest to make a move into the industry is Russian state-owned development bank Vnesheconombank (VEB). 

What’s Going On?

The world is now aware that the governor of Kaliningrad, Anton Alkikhanov, and the chairman of VEB, Sergei Gorkov, had a meeting last week at the Russian Investment Forum in Sochi. At the meeting, the two leaders signed a deal to pilot a new payment system. The system will be entirely blockchain-based. 

For those who don’t know, Vnesheconombank was founded in 1922 and primarily provides funding for projects targeted at furthering the Russian economy. Therefore, it’s safe to say this new agreement was a sensible decision on the banks part. Why? Because there is no doubt in my mind that the system will help to develop the Russian economy.

>> Another Bank Working With Blockchain 

It’s not just the bank that’s going to benefit from this new system either. The region of Kaliningrad, which is a city in Russia, will as well. Why? Because this region is a known area for putting to use advanced technologies that have the potential to support Russia’s ever-increasing digital economy. As of right now, Kaliningrad has a population of 437,456. 

>> Other Companies Moving into Blockchain 

Now, the goal behind the blockchain-based payment system is simple. Both the government and the bank believe the technology will allow for an improvement in the quality of social services. How? By slashing costs and increasing transparency. 

It’s worth adding that Russia isn’t the only country discussing blockchain and the cryptocurrency sector. While some countries want more regulation for digital currencies (looking at you, Britain), others, such as Canada, which now has its KFC’s accepting Bitcoin, are embracing it. Now I know what you’re thinking – what does Bitcoin have to do with blockchain? Well, let’s just say blockchain technology is the mastermind behind the revolutionary virtual currency. 

Check back in later this week to see if there is any more news circulating around about the new blockchain-based payment system. 

Featured Image: depositphotos/borjomi88

Global Blockchain Investment KodakOne Joins ICOxConnect Platform

Global Blockchain Investment

KodakOne, a fully registered initial coin offering (ICO) in which Global Blockchain Technologies Corp. (CSE:BLOC) (FSE:BWSP) (OTC:BLKCF) is a lead investor in, will host its own community channel on the ICOxConnect platform.

ICOxConnect is considered the first and only community development platform restricted to ICO listings that are compliant with applicable laws — and this includes KodakOne. This ICO is a result of a partnership between Kodak and WENN Digital that’s set for launch this year.

The platform aims to provide an online community for holders of the KodakCoin token, a photographer-oriented cryptocurrency designed to work with the KodakOne platform, to interact with one another.

Shidan Gouran, President of Global Blockchain, commented:

“The KODAKCoin ICO continues on schedule, and we are very excited that the KODAKOne community will have a secure and regulated platform in ICOxConnect.com upon which the community can ask questions and receive answers in accordance with the regulated ICO.”

Bruce Elliott, the President of ICOx Innovations said:

“Leveraging the ICOx Innovations platform and our strategic, regulatory, operational, blockchain and cryptocurrency development services, we were able to help develop the KODAKCoin and have consulted to ensure that the ICO and ongoing operations of KodakCoin by WENN Digital are managed in a fair, transparent and regulatory compliant manner in compliance with applicable laws.”

Last month, Global Blockchain became a lead investor in the KodakOne ICO with a US$2 million investment. The KodakOne platform uses the Ethereum blockchain to create an encrypted digital ledger of rights ownership for photographic archives. The purpose of the KodakCoin tokens is to have an exclusive way for photographers to receive payments for licensing and selling their work on the KodakOne platform.

Initially, the KodakOne ICO launch date was set for January 31, but it was later delayed by several weeks so that Kodak could add an accredited investor verification phase due to the “high degree of interest generated by the ICO.”

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable securities lawss. Generally, any statements that are not historical facts may contain forward-looking information, and forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved”. Forward-looking information includes, but is not limited to the Company’s goal of streamlining the current arduous, lengthy and complicated process that interested investors need to undergo in order to gain exposure to the cryptocurrency space with a view to becoming the first vertically integrated originator and manager of top-tier blockchains and digital currencies. The Company has no assets and its business plan is purely conceptual in nature and there is no assurance that it will be implemented as set out herein, or at all. Forward-looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made, including but not limited to: statements and expectations regarding the ability of the Company to (i) successfully engage senior management with appropriate industry experience and expertise, (ii) gain access to and acquire a basket of cryptocurrency assets and pre-ICO and ICO financings on favourable terms or at all, (iii) successfully create its own tokens and ICO’s, and (iv) execute on future M&A opportunities in the cryptocurrency space; receipt of required regulatory approvals; the availability of necessary financing; permitting and such other assumptions and factors as set out herein. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks related to changes in cryptocurrency prices; the estimation of personnel and operating costs; general global markets and economic conditions; risks associated with uninsurable risks; risks associated with currency fluctuations; competition faced in securing experienced personnel with appropriate industry experience and expertise; risks associated with changes in the financial auditing and corporate governance standards applicable to cryptocurrencies and ICO’s; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalization and liquidity risks including the risk that the financing necessary to fund continued development of the Company’s business plan may not be available on satisfactory terms, or at all; the risk of potential dilution through the issuance of additional common shares of the Company; the risk of litigation. Although the Company has attempted to identify important factors that could cause actual results to differ materially from the forward-looking information set out in this presentation, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

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Which Game Will Top Cryptokitties and Tron Dogs?

When CryptoKitties exploded onto the gaming scene in December 2017, the highest selling kittie went for 246.9255 ETH ($117,712 USD). Mere days after the game’s launch,  the frantic collecting, breeding, dressing and trading of digital cats clogged up the Ethereum network, and its inability to process the over 30,000 pending transactions exposed its limitations. The Tron Dogs, the kitties’ more masculine counterpart, soared to an astounding $16 billion market cap in early January.

Who needs a real pet when you can create and design a perfect virtual pet and sell it online for a tidy profit?

Blockchain-based cryptocurrencies have undoubtedly penetrated the gaming market, and the paradigm shift is now there are more options and new forms of rewards and upgrades for gamers. The World of Warcraft is the juggernaut of the industry — raking in over $10 billion in revenue. Imagine how much more revenue this multi-player game could earn on in-game purchases with blockchain technology. Blockchain could potentially take gaming from a $108 billion industry to a $trillion industry.

Blockchain-focused venture builder Victory Square Technologies Inc (OTC:VSQTF) (CSE:VST) (FWB:6F6)  is gaining traction in the gaming space by innovating virtual economies.

Yesterday, Victory Square Technologies Inc (OTC:VSQTF) (CSE:VST) (FWB:6F6) announced the company has acquired 100 percent of all issued and outstanding shares of Vancouver-based mobile games developer V2 Games Inc. for $2 million CAD.

V2 Games started as a game development and publishing studio, and was the first Canadian Company to license the iconic PAC-MAN IP for a mobile game. The company has an operating history of licensing large IPs, including PAC-MAN, Hello Kitty, the NFL and the NBA. Fueled by its success in the mobile gaming market, V2 Games started investing its returns into other companies in the gaming ecosystem.

V2 Games’ portfolio of companies includes Kung Fu Factory, Immersive Tech and Nyan co. In January, V2 Games launched the Future Fund – a $10 million seed fund for gaming ventures. The fund is for strategic investments into the video game vertical, and targets game ventures, esports, as well as start-ups that have a strong use-case for leveraging blockchain within the gaming ecosystem. While the fund will have a global outlook, 50 percent of the fund will be reserved for investments in Canadian video gaming startups.

“Just as we’ve committed to partnering with high quality entrepreneurs and management teams that drive long-term shareholder value, V2 Games supports top tier teams in the gaming industry with a view to unlocking their potential by providing them with seed capital and the necessary strategic expertise needed to scale their gaming ventures,” said Victory Square CEO Shafin Diamond Tejani.

Tejani added that post-acquisition, Victory Square Technologies will integrate V2 into the company’s growing portfolio of disruptive technology investments.

Sam Chandola, CEO of V2 Games, said the acquisition is in line with the company’s core competency of identifying early investments in gaming assets, and that it also puts V2 ahead of schedule in its pursuit to be a key strategic investment hub.

This merger marks a meeting of great minds, and surely sets the stage for future disruptive investments as this entrepreneurial team sets its goal on discovering the gaming galaxy’s next Cryptokitties and Tron Dogs.

DMG Blockchain Signs Over $3 Million Bitcoin Hosting Deal With Japanese Tech Company

DMG Blockchain

DMG Blockchain Solutions Inc. (TSX-V:DMGI) has signed an agreement with Japanese tech firm Forside Financial Services Inc. to provide Bitcoin hosting services, known as mining-as-a-service (MaaS), for Forside. The MaaS deal is worth over $3 million, under which DMG will purchase and set up hardware and receive recurring hosting revenues upon completion.

DMG’s business focus is to provide hosting services for its clients, allowing them to be “miners” essentially from anywhere in the world in a cost-effective manner. The MaaS offering provides turnkey operations for clients by charging a set-up and monthly hosting fee. This allows the company to capture the full benefit of Bitcoin’s appreciating value

“We are excited and thankful to have DMG provide MaaS for our company and look forward to completing more business in the future with DMG. We conducted due diligence and spoke to many other companies and decided to do business with DMG due to its knowledge and expertise in this sector,” said the chairman of Forside.

Daniel Reitzik, CEO and Co-Founder of DMG Blockchain, added: “We are delighted to onboard our second major hosting client from Japan, which represents a significant market opportunity for us and further validation of our MaaS model.”

This contract with Forside marks the second deal DMG has signed to date. Recently, the company announced its acquisition of Blockseer, a blockchain data analytics company based in Silicon Valley, for consideration of up to $16 million.

The company currently operates a hybrid model under which its facilities and power access are used by both itself and its clients. This model allows DMG to balance out its capital costs and scale at a faster pace compared with the traditional mining model. It also expects to add another 1,000 mining machines next month.

DMG’s stock has gone from $1.22 to $1.87 — a 53% gain — in the space of two days following the Blockseer deal.

Cautionary Note Regarding Forward-Looking Information

This news release contains forward-looking information based on current expectations. Statements about the transaction with Forside, other potential transactions, product development, customer acquisitions, events, courses of action, and the potential of the Company’s technology and operations, among others, are all forward-looking information. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company’s financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and the demand and pricing for products; the demand and pricing of bitcoins; security threats, including a loss/theft of DMG’s bitcoins; DMG’s relationships with its customers, distributors and business partners; DMG’s ability to successfully define, design and release new products in a timely manner that meet customers’ needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. DMG may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to achieve goals and the price of bitcoin.  Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements.

The securities of DMG are considered highly speculative due to the nature of DMG’s business. DMG can give no assurance that it will secure additional MaaS customers.

Factors that could cause the actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment failures, lack of supply of equipment, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, competition, security threats including stolen bitcoins from DMG or its customers, consumer sentiment towards DMG’s products, services and blockchain technology generally, failure to develop new and innovative products, litigation, increase in operating costs, increase in equipment and labor costs, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.

The forward-looking statements contained in this news release are made as of the date of this news release.  Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.  Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

Microsoft, IBM, and Other Blue Chips Are Investing Heavily in Blockchain Technologies – Here’s Why

Blue Chips

The massive response from Blue chips such as Microsoft and IBM to distributed ledgers has amassed substantial investments in blockchain technologies.

Microsoft Invests in Blockchain to Control Data more efficiently

Despite the polarized market opinions regarding the value of cryptocurrencies – Microsoft (NASDAQ: MSFT) recently announced that it had invested considerably in distributed ledger technologies with an aim to construct digital identities.

The idea was initially to help people all around the globe who don’t have any legal identity.

Microsoft along with other blue-chips including, Avanade and Accenture, are collaborating on a blockchain-based identity prototype on Microsoft Azure.

The innovation of blockchain-based identity management systems could also provide governments the ability to control the data from corporations to individual citizens.

According to IDC’s Blockchain Spending Guide, total investments in blockchain technologies stood around $945 million in 2017. The investment numbers are likely to increase from $2 billion in 2018 to $9.2 billion by 2021.

IBM Tops the List

Although investors are blaming International Business Machines (NASDAQ: IBM) for providing old-fashioned products, they are ignoring its dominating position in the blockchain technologies.

IBM ranked at Juniper Research survey’s top spot which was aimed at investments in blockchain technology. Microsoft was placed second.

IBM attained the market share of 43% among the companies that are actively investing in distributed ledger technologies or considering investing in these innovative technologies.

With the leading position in blockchain technologies; the company is currently engaged in significant blockchain research and development initiatives. It has already created a remarkable portfolio of Fortune-500 clients across diverse industries.

IBM has recently announced blockchain collaboration with biggest food companies including Unilever (NYSE:UL), Nestle, and Walmart (NYSE:WMT) . IBM believes that blockchain technologies would help food giants to map out the source of contaminated produce in mere seconds.

“The whole opportunity that we share is to provide transparency across the ecosystem today,” Brigid McDermott, IBM’s vice president for blockchain business development.

Featured Image: twitter

1956 Porsche Speedster to Become Tokenized Car

Tokenized Car

Switzerland just took the blockchain sector to a whole other level – enter the first tokenized car.

What Happened?

The world has now been informed that a Porsche dealer in Switzerland has teamed up with TEND, which is an ethereum-powered market, to put a luxury sports car on a blockchain. Not just any sports car, either. For the app’s first ever tokenized car, TEND and Porsche Zentrum Zug will be offering a 1956 Porsche Speedster 356A. Cool, right?

What Do We Know?

Essentially, the 1956 Porsche Speedster will be divided into token-based shares that will be both traded and registered on the ethereum-powered automated marketplace. According to Marco Abele, founder of TEND, the app helps to fulfill the “modern generations” yearning for luxury assets. Abele also stated that the app is going to help to expand the generation’s access to these luxury assets.

As for Porsche Zentrum Zug, the Switzerland dealer will act as the “physical platform” for the app. The dealer’s role is to handle things like giving the keys to share-owners and providing maintenance of the 1956 Porsche Speedster.

>>Gluon Partners With Stratis For Automotive Blockchain Platform

To top it off, if all goes as planned, both the startup and the Porsche dealer have announced that they plan to bring more cars onto the blockchain platform. In fact, TEND has apparently already had a number of discussions with other brands. I don’t know about you, but I’m hoping Tesla (NASDAQ:TSLA) is one of those brands.

The Takeaway

As exciting as this news is, the general manager of Porsche Zentrum did state that it is “too soon to say that we’re on the cryptocurrency train.” However, Becker-Fahr did state that working with TEND is the start for the dealer, even though they “don’t know where it will lead.”

Even if the dealer decides to not pursue any more blockchain applications, partnering with TEND is still extremely monumental.

Featured Image: Twitter

Hedge Fund Doesn’t Think Kodak Can Make it in Blockchain

Kerrisdale Capital

Last month, the Eastman Kodak Company (NYSE:KODK) made company history. Joining the blockchain industry, the Rochester, New York-based company revealed to the public its KODAKOne platform. This platform is entirely powered by blockchain technology. To no surprise, this announcement caused the stock to jump almost 100%.

While this was all very exciting, it seems now that not everyone was on board with the company’s decision to move into the blockchain sector. By everyone, I mean hedge fund Kerrisdale Capital and its CEO Sahm Adrangi. On Wednesday, a research report surfaced in which Kerrisdale Capital said they don’t think the Eastman Kodak Company’s move into blockchain is genuine. In fact, Kerrisdale Capital called it “a last-ditch stock promotion gambit for a company hurtling towards bankruptcy.”

According to the report that was released yesterday, the hedge fund forecasts that the Eastman Kodak Company won’t be able to develop a competitive edge against the other blockchain startups. Why? Because the Kerrisdale Capital doesn’t believe the company has the technological capacity.

Even though I might not agree with the latter statement, I wouldn’t be surprised if Kodak struggled a bit to compete with the other startups. I mean, there are a lot out there. Over the past two months, we have seen a massive amount of companies moving into blockchain, from Long Blockchain Corp. (used to be Long Island Iced Tea) to ChinaNet Online Holdings.

>>KodakCoin ICO Launch Delayed By “Several Weeks”

It’s worth mentioning Kerrisdale Capital didn’t say anything negative about blockchain itself. The hedge fund simply believes that Kodak’s plan to become a leader in the blockchain sector is “poorly thought out and will never work as promoted.” As of this writing, Kodak is trading at $5.65, which puts the stock down $0.20, or 3.45%.

Do you agree with Kerrisdale Capital? Personally, I’m not sure who to side with yet. I for one will just have to see what Kodak announces over the next couple of weeks in order to get a better sense on where it stands against its competitors.

Featured Image: brandingbusiness.com