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The Increased Popularity of Blockchain Technology in Various Sectors

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The Increased Popularity of Blockchain Technology in Various Sectors

FinancialBuzz.com News Commentary

PR Newswire

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

According to a report published by Netscribes, Inc., the global blockchain technology market is expected to be worth USD 13.96 Billion by 2022, growing at a compound annual growth rate of 42.8%. The market is expected to grow rapidly as blockchain technology offers a faster, transparent, secure, and cost-efficient alternative for processing transactions. Adoption of blockchain-based technology continues to expand across various industries, such as Finance, Healthcare, Insurance, retail, supply chain, and media. Chineseinvestors.com Inc. (OTC:CIIX), Overstock.com, Inc. (NASDAQ:OSTK), QIWI plc (NASDAQ:QIWI), Bitcoin Investment Trust (OTC:GBTC), Riot Blockchain, Inc. (NASDAQ:RIOT)

According to an IDC study, Michael Versace, research director of Digital Strategy Consulting, explained: "The blockchain services revenue opportunity is small today, but the capabilities, platforms, and partnerships being created now are strategically important to the future services industry. Over the long-term horizon, blockchain services - including business consulting, IT consulting, custom development, and managed services - have the potential to become foundational to a new generation of enterprise IT infrastructure, resulting in a growing demand for consultants and developers and hundreds of billions of dollars of market size for the service company of the future."

Chineseinvestors.com Inc. (OTCQB:CIIX) recently announced the, "official launch of its new cryptocurrency trading courses offered through its newly established Bitcoin Trading Academy LLC. The Company officially launched the following three-part course offering on July 7th, 2018:

Bitcoin Trading 101: Students are provided with a basic knowledge about Bitcoin including how to open and trade on different cryptocurrency trading platforms, how to set up a cryptocurrency wallet, futures trading strategies, both long and short, how to use Bitcoin Futures to properly hedge one's Bitcoin portfolio, and how to properly use beginner-friendly trading techniques.

Bitcoin Trading 201: The second course in the program focuses on coins such as Ethereum, including coins with significant underlying technology such as EOS, XLM, ADA and NEO, and altcoin trading platforms, such as Binance and Bittrex. In addition, this course will provide instruction on how to use information such as a coin's underlying utility, current industry and sector news in combination with technical analysis in an effort to maximize returns; and effectively scrutinize and understand social media feeds.

Bitcoin Trading 301: Professional ICO analysts will teach students what to look for when vetting a new cryptocurrency offering, including how to read a white paper, analyze the professional teams and advisory boards associated with an offering, the role that technology, marketing, trends play and what pitfalls to avoid.

"We are pleased with the turn out for the first live course offerings in New York City and we expect even better attendance once the word spreads about this innovative cryptocurrency education opportunity. Courses are also offered online in English and Chinese. In addition, the Company plans to expand its live course offerings to Asia in the coming months," says ChineseInvestors.com Inc. CEO, Warren Wang."

Overstock.com, Inc. (NASDAQ:OSTK) is an online retailer based in Salt Lake City, Utah that sells a broad range of products at low prices, including furniture, décor, rugs, bedding, and home improvement. Overstock.com, Inc. has announced on July 31st, 2018 that its blockchain-meets-property rights subsidiary, Medici Land Governance, has signed a Memorandum of Understanding (MOU) with Trevor Kaunda, Permanent Secretary of the Ministry of Land and Natural Resources in Zambia, to develop a program for systematic land governance within the country. As part of the MOU, MLG has agreed to deliver to the Ministry certificates of title in digital and printed form by November 30, 2018 to serve as proof of concept for a systematic, streamlined process to scale up the country's land titling program. Plans for the full scope of the project include developing a blockchain-based land titling program that includes a mobile platform and capabilities for mobile payments. The platform will accommodate streamlined regulations and data collection to assist future government decisions around city planning and land use. "This momentous partnership with the Zambian Ministry of Land and Natural Resources has the potential to be a real, sustainable game-changer in reducing poverty and supporting economic development on a large scale," said Medici Land Governance Chief Executive Officer, Dr. Ali El Husseini. "At Medici Land Governance, we believe that the first step toward reducing global poverty is to build a secure and stable way to record land and property rights, and using our expertise in blockchain, mobile apps, and other technologies, we are building the technology that can do that. I look forward to a future where all land and property services - including utility payments, national and municipal tax collections, and mortgages - are managed on a secure, user-friendly system that provides equal access for all people."

QIWI plc (NASDAQ:QIWI) is a leading provider of next generation payment and financial services in Russia and the CIS. QIWI plc, ("QIWI" or the "Company") and fintech company Revolut announced on June 5th, 2018 their partnership and the launch of the Revolut services in Russia that will run on the payment infrastructure of QIWI Bank. Revolut is an international IT company working in the financial technologies sector. Over time, Revolut launched platforms for insurance, lending, trade in cryptocurrencies and began to serve legal entities. QIWI Group grants Revolut access to its banking infrastructure via open APIs, so that Revolut is now able to service Russian users. In Russia, Revolut will only provide financial services to individuals. Andrey Protopopov, Head of IT and Product of QIWI Group said, "QIWI is one of the first Russian companies that has implemented a number of APIs that allow the use of QIWI Bank infrastructure as a platform for developing fintech projects. We optimized our technological processes and opened our payment infrastructure in order to help accelerate the launch of internationally recognized and demanded fintech projects in Russia. Now we are ready to go international with this platform, starting with the partnership with the leading European fintech-startup company Revolut. Partnership with QIWI helps Revolut to be in full compliance with the Russian legislation and offers easy integration with the developed payment infrastructure, allowing the project team to focus on attracting new users in Russia and developing new functionality of the application."

Bitcoin Investment Trust (OTCQX:GBTC) sponsored by Grayscale Investments, LLC, a global leader in digital currency asset management, released on July 18th, 2018 the inaugural Grayscale Digital Asset Investment Report, a first-of-its-kind report that highlights industry trends and analyzes investment activity across the Grayscale family of products during the first half of 2018. Grayscale raised $248.4 million into its single-asset and diversified investment products, marking the strongest fundraising over any six-month period since Grayscale launched its first product, Bitcoin Investment Trust, in September 2013. Notably, institutional investors accounted for 56% of all new investment dollars into Grayscale products, a pronounced increase in allocations to the asset class despite a broad-based price reduction across digital currencies during 2018. Bitcoin continues to be the most popular digital currency for Grayscale investors, with 63% of capital raised into Bitcoin Investment Trust™ and 37% into Grayscale products tied to other digital currencies.

Riot Blockchain, Inc. (NASDAQ:RIOT) is focused on building, supporting, and operating Blockchain technologies, primarily through its cryptocurrency mining operations and other internally developed businesses, as well as through potential joint ventures, acquisitions, and targeted investments in the sector. Riot Blockchain, Inc. (NASDAQ:RIOT) (the "Company") announces the beta development of its own private Bitcoin Mining Pool. Mining pools are groups of miners that work as a team and contribute their hashing power to solving computations that secure the blockchain. By pooling resources, miners increase the odds and consistency of receiving block rewards, which are the fees collected as part of Bitcoin's "proof of work" security model. Securing the Bitcoin network is based heavily on the distributed nature of mining power. As mining pools have become more popular, higher percentages of the global hash rate have become centrally managed. This centralization has created potential security concerns within the Bitcoin community. The Company is privately testing its own mining pool platform intending to provide an alternative to major players such as AntPool and BTC.com, which are owned and operated by Bitmain.

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