Market Overview

Multi-billion Dollar Blockchain Industry Fueled by Uptick in Investment Capital and Latest Technological Advancements


Multi-billion Dollar Blockchain Industry Fueled by Uptick in Investment Capital and Latest Technological Advancements

PR Newswire

PALM BEACH, Florida, August 23, 2018 /PRNewswire/ -- News Commentary


The blockchain technology sector is poised to be one of the most influential areas of the technology market overall given its wide variety of applications, particularly in the area of security. Blockchain has become synonymous with online transactions, and digital transactions have become the bulk of all transactions across the globe, whether it be business to business or business to consumer. A few examples of prominent areas blockchain is aiming to make an impact in include government activities, education and even the rising Cannabis industry. This is why there must be careful consideration when referencing the simple term of "blockchain", simply because it refers to a technology that can mean a variety of things when applied to different industries and markets. As a whole, the blockchain market has already generated billions of dollars in revenues and figures to keep steady growth as it becomes more and more necessary to everyday operations as society continues its transition to digital life. Active companies today include: Block One Capital Inc. (TSX-V:BLOK) (OTC:BKPPF), HIVE Blockchain Technologies Ltd. (TSX-V:HIVE) (OTC:HVBTF), Marathon Patent Group Inc. (NASDAQ:MARA), Riot Blockchain Inc. (NASDAQ:RIOT), Seven Stars Cloud Group Inc. (NASDAQ:SSC).

Block One Capital Inc. (TSXV:BLOK) (OTCQB:BKPPF) BREAKING NEWS: Block One Capital, an investment company focused on early stage and high growth opportunities in the blockchain sector, provides the following corporate update.

Block One is pleased to announce that it is partnering with Shopin as lead sponsor for the World Blockchain Forum London 2018. "We are excited to be a part of World Blockchain Forum London 2018. We look forward to Shopin showcasing its progress and evaluating new opportunities," said Block One CEO, Mr. Sothi Thillairajah. Block One is an early stage investor in Shopin, having participated the private presale portion of Shopin's Token, Generation Event, which concluded in January.

Shopin CEO, Mr. Eran Eyal is presenting at World Blockchain Forum London 2018 on Tuesday, September 4th, 2018 at about 11:00 a.m. (local time), where he will discuss Shopin's focus of reinvigorating the retail economy by streamlining the total shopping experience through blockchain technology, specifically, storing value, purchase, and profile data, and scaling to facilitate Visa™-level transactions per second with total GDPR-compliance that empower retailers on the open web to provide a decentralized Amazon-like experience with recommendations powered by A.I.

"Block One is a visionary organization in the blockchain investment arena. They were early in appreciating the transformational potential of the Shopin platform and we greatly appreciate having Block One as a strategic advisory partner as Shopin moves forward in its development," said, Mr. Eyal. Read this and more news for Block One Capital at:  

In other industry news and developments:

Marathon Patent Group Inc. (NASDAQ:MARA) closed Wednesday up 2.35% with a volume north of 500,000 by the market close. The company recently announced it has received formal notification from the Listing Qualifications Department of The NASDAQ Stock Market ("NASDAQ") notifying Marathon that it has regained compliance with Listing Rule 5605(b)(1) and 5605(c)(2) for continued listing on The NASDAQ Stock Market, with the appointment of Michael Berg and S. Michael Rudolph, and that the matter is now closed. The Company's common stock will continue to trade on NASDAQ. On July 10, 2018, the Company was notified by the NASDAQ Stock Market that it no longer complied with the independent director position committee requirements of Listing Rules 5605(b)(1).

HIVE Blockchain Technologies Ltd. (TSX:HIVE) (OTCPK:HVBTF) rallied to close up 1.45% on Wednesday with over 900,000 shares traded. Last week, the company announced it will launch 200 Petahashes ("PH") of cloud based SHA-256 mining power ("Cloud Mining") in September 2018 . The Cloud Mining is an amendment to the terms of HIVE's previous December 2017 agreement with Genesis Mining Ltd. ("Genesis") to add 200 PHs of SHA-256 capacity in Sweden . Under the revised agreement, 200 PHs will be provided pursuant to a cloud hosting arrangement until delivery of the mining rigs occurs within the next twelve months.  The amendment allows for lower operating costs than was previously expected of taking delivery of the miners in Sweden and gives HIVE flexibility to install the future delivery of the mining rigs in an advantageous region, which is anticipated to be in a facility in North America. As previously announced, production is expected to commence on September 30, 2018. The strategic decision to implement cloud based deployment with its technology partner, Genesis, allows the Company to benefit from more cost-effective mining operations and enhances HIVE's operational flexibility by enabling the Company to more quickly adapt to changing network conditions across multiple geographies.

Riot Blockchain Inc. (NASDAQ:RIOT) closed Wednesday up 6.03% trading more than 600,000 shares by the market close. The company recently announced the filing of its unaudited results for the second quarter on Form 10-Q for the period ending June 30, 2018. The entire document can be viewed on the Company's website or at First quarter within which the Company reached full deployment of its 8,000 ASIC cryptocurrency miners.  Generated approximately $2,768,619 million in revenue on the production of 348 Bitcoins (including BCash as converted) and 318 Litecoins for the quarter. Gross margin percentage of 47%.

Seven Stars Cloud Group Inc. (NASDAQ:SSC) closed Wednesday up 12.54% with more than 2.4 million shares traded. Earlier this week, the company announced it has won a $24 billion, three-year deal to provide fixed income lease financing-based products to fund upgrades of China's buses and make them electric by 2021 as mandated by the government. The deal is with National Transportation Capacity Co. Ltd., which is China's biggest full-service operator for electric buses with sales, lease financing, a charging station network and real-time data services that include payments, maps and facial recognition. Seven Stars will provide two financing campaigns, one in China and one across global markets.

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