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Interest in the Blockchain Market Continues to Grow Globally

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Interest in the Blockchain Market Continues to Grow Globally

FinancialBuzz.com News Commentary

PR Newswire

NEW YORK, August 31, 2018 /PRNewswire/ --

According to a report from Grand View Research, the global blockchain technology market size is expected to reach USD 7.59 Billion by 2024 while growing at a compound annual growth rate (CAGR) of 37.2% during the forecast years. Blockchain technology is considered as an electronic transaction-processing and record-keeping system, which eliminates the need for third-party verification. The technology helps facilitate faster settlement, enhanced security and provided greater efficiency. The blockchain industry is still in the development phase and further technology advancement would fuel the market growth. The public blockchain network segment is one of the fastest growing sectors and is expected to have a CAGR of 39.2%. Victory Square Technologies Inc. (OTC:VSQTF), Mitek Systems, Inc. (NASDAQ:MITK), Gopher Protocol Inc. (OTC:GOPH), ShiftPixy, Inc. (NASDAQ:PIXY), Pareteum Corporation (NYSE:TEUM)



Interest in blockchain technology continues to increase. According to a survey conducted by Deloitte, nearly 40% of more than 1,000 global executives said that their organization will invest USD 5 Million or more in blockchain technology in the coming year. 74% of respondents report that they see many of their organizations adopting the technology. About 34% of that number say their companies have been working on some blockchain system, while 42% of them say their companies plan to build their blockchain application within the next 12 months.

Victory Square Technologies Inc. (OTCQX:VSQTF) also listed on the Canadian Securities Exchange under the ticker (CSE:VST). Earlier last week, the Company announced, "A dynamic new technology and promotional partnership between its portfolio company FansUnite Entertainment Inc. ("FansUnite") and the Leicester City Football Club, the 2016 English Premier League Champions.

The partnership will introduce the FansUnite brand to Leicester City FC supporters through targeted promotions and co-branded activations both in and outside the stadium."

"Leicester City FC is a truly special story and a premier global sports brand," said FansUnite CEO, Darius Eghdami. "Not only are The Foxes one of just six clubs to hoist the Premier League Trophy since its inception in 1992, they are at the forefront of innovation, incorporating new technology to help improve player performance and fan engagement."

Eghdami added: "Partnering with a globally-recognized brand such as Leicester City that shares our commitment to improving conditions for sports fans through the application of new technology was a natural fit and a win-win for both companies."

FansUnite (http://www.fansunite.com ), a blockchain protocol on target to disrupt and revolutionize the sports betting and sports data markets, is pioneering a tamper-proof and transparent global store for sports data. The FansUnite model will have far-reaching implications in a world that is increasingly conscious of data rights and sports integrity. Sports betting, daily fantasy and betting exchanges will be built atop the FansUnite Protocol.

"FansUnite has set their sights on powerfully transforming the entire sports betting and sports data marketplaces with their proprietary blockchain protocol and we couldn't be happier to welcome Leicester City to the Victory Square family," said Shafin Diamond Tejani, CEO of Victory Square. "The global reach and influence of The Foxes will expose FansUnite to millions of sports fans around the world. It serves as a great validation of their continued growth and success."

The FansUnite sports betting protocol will launch before the end of 2018. It will allow operators and government-run wagering sites around the world to offer bettors lower fees and increased payback percentages directly to the waging public.

"We take the saying 'Better for Bettors' seriously," said FansUnite CEO Eghdami. "FansUnite truly is 'Better for Bettors."

In addition to the sportsbook offering, the FansUnite Protocol serves as the blockchain-based infrastructure for sports data applications, daily fantasy sports and a variety of other applications reliant on receiving secured sports data. Following their Series A financing of CAD 4.45 Million, FansUnite has been developing the protocol in preparation for their regulatory-compliant token launch later this calendar year."

Mitek Systems, Inc. (NASDAQ:MITK) is a global leader in mobile capture and identity verification software solutions built on the latest advancements in AI and machine learning. Mitek reported earlier this year that its Mobile Verify has improved leading European blockchain provider Nocks' customer onboarding time by 98%, from 12 hours to five minutes. This has helped Nocks to grow its user base by 214%. Mobile Verify also helps Nocks achieve compliance with the 4th and 5th EU Anti-Money Laundering Directives. By integrating Mobile Verify, which employs advanced AI and machine learning algorithms, Nocks can validate the identity of applicants in real-time, dramatically improving new customer conversion rates. Users simply take a picture of both their ID document and driving license using their smartphone. Mobile Verify validates that the documents presented are genuine, original, unaltered, and government-issued - granting users rapid access to a range of payment options. "Our mission is to redefine the financial landscape using blockchain technology to dramatically improve the performance and experience of payment services," said Roel Boers, Chief Executive Officer and Co-Founder, Nocks. "The experience begins at registration, and we wanted to make it as easy as possible for new users to access services, so they can grow their businesses and improve their financial lives. We also wanted to ensure compliance with regulatory demands, so our users and beneficiaries are protected without impacting the user experience."

Gopher Protocol Inc. (OTCQB:GOPH) is a development-stage company which considers itself Native IoT creator, developing Internet of Things (IoT) and Artificial Intelligence enabled mobile technology. Gopher Protocol Inc. recently announced it is incorporating its gEYE security engine into its digital currency Technology Platform, the GRC. With Gopher technology, when fully developed, the radio-based coin will provide that each transaction, called a block, is recorded. A Blockchain is a continuously growing list of transactions (Blocks). The validity of each GRC coin is provided by a Blockchain. The blocks are linked and secured together using cryptography. gEYE security system was developed to secure complex data and Gopher is in process to retrofit gEYE to secure Gopher GRC. "We developed our gEYE advanced security system with the goal of securing our broad range of technologies. Among them are our GEO location system, Avant! AI and database sharing," stated Dr. Danny Rittman, Gopher Chief Technical Officer. "Now, as we gear up to present GRC, we will add another branch to our gEYE system with the goal of securing the digital coin, to ensure hacking-free transactions for the benefit of the users. As digital currency is vulnerable to cyber theft, we are investing significant efforts to protect this aspect of our technology. We are creating a dedicated module within our gEYE, especially designated for digital coin security."

ShiftPixy, Inc. (NASDAQ:PIXY) is a disruptive human capital management platform, revolutionizing employment in the Gig Economy by delivering a next-gen mobile engagement technology to help businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. The Company recently expanded its growing ecosystem with the arrival of new brands attracted to its unique financial and insurance transaction and metering platform, most notably a 27-location franchisee of one of the country's largest pizza brands. A primary differentiator to ShiftPixy's technology includes its 'micro-metering' approach to incremental payment transactions and related insurance coverages based on real-time use and exposures. This leverages two critical technology functionalities. The first is the 'micro metering' of essential commercial insurance coverages required by operators - namely workers' compensation and auto coverages on a delivery-by-delivery basis. The second is using ShiftPixy's blockchain ledger to process and record critical P2P connections. Our underlying technology is a key reason why we stand out in the marketplace, so it's always exciting to see new clients specifically drawn to our innovative capabilities when joining our ecosystem," said Scott Absher, Chief Executive Officer of ShiftPixy.

Pareteum Corporation (NYSE:TEUM) is a rapidly growing Global Software Defined Cloud company with a mission to connect "every person and everything." Pareteum Corporation, delivering award-winning mobile enablement solutions, announced recently that a U.S. mobile marketing technology company has signed a 3-year USD 8 Million agreement to utilize Pareteum's Global Software Defined Cloud (GSDC). Through the Pareteum enabling software and mobility platform, our new customer will facilitate mobile services to advertisers, businesses, and service vendors. Hal Turner, Pareteum's Executive Chairman and Principal Executive Officer, said, "Pareteum continues to innovate by applying data science and modeling to our Super API. Through our Cloud Enablement software and platform, we are delivering analytics and insights, that are trustfully secured with blockchain technology for the benefit of our customers and their end-users. Applying these powerful solutions to benefit marketers means better value and services to customers, through the power of our cloud and our software… another step toward the vision of 'anytime and anywhere' now coupled with 'and, customized for my needs'."

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