The Growth of Innovations in the Blockchain Market – iCrowdNewswire

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Mar 14, 2018 8:10 AM ET

The Growth of Innovations in the Blockchain Market

iCrowdNewswire - Mar 14, 2018

According to a report published by Netscribes, Inc., the global blockchain technology market is expected to reach 13.96 billion by 2022, growing at a compound annual growth rate (CAGR) of 42.8 percent during the forecast years. The report indicated that blockchain technology is being extensively used in various sectors such as banking financial services and insurance (BFSI) segment, the healthcare sector, supply chain management, energy, media, informatics, etc. Blockchain, best known as a distributed database is used for verifying and recording transactions. The North American region is expected to hold the largest share of blockchain adoption in the near future. DMG Blockchain Solutions Inc. (OTC: DMGGF), Net Element, Inc. (NASDAQ: NETE), ChinaNet-Online Holdings, Inc. (NASDAQ: CNET), Eastman Kodak Co (NYSE: KODK), HIVE Blockchain Technologies Ltd. (OTC: HVBTF)

According to International Data Corporation, Jessica Goepfert, the program director of Customer Insights & Analysis Said: “There are a multitude of potential new use cases for blockchain, as transactions and records are the lifeblood of just about every organization. However, we are seeing initial blockchain spending to transform existing highly manual and inefficient processes such as cross-border payments, provenance and post transaction settlements. These are areas of existing pain for many firms, and thus blockchain presents an attractive value proposition.”

DMG Blockchain Solutions Inc. (OTC: DMGGF) also listed on the TSX Venture Exchange under the ticker ‘DMGI’. Last week the company announced, “the formal closing of the previously announced acquisition of Datient Inc., doing business as “Blockseer” (the “Transaction”). The combined DMG – Blockseer alliance represents a strong competitive advantage in providing leading cryptocurrency forensics and proprietary real-time risk scoring for compliance and anti-money laundering (AML). Additionally, Blockseer’s blockchain and data analytics expertise provides the capabilities to uniquely offer class-leading enterprise solutions with a natural convergence of Blockchain and artificial intelligence technologies – data is the asset, which can be tracked and monetized utilizing blockchain technology.

Blockseer is a blockchain and artificial intelligence company headquartered in Silicon Valley, California. Blockseer has worked with several law enforcement agencies including the U.S. Secret Service, Federal Bureau of Investigation, and the Internal Revenue Service, and it also provides Ethereum blockchain data services for, one of the world’s largest cryptocurrency wallet providers. Blockseer provides data analytics and incorporates artificial intelligence to provide insight into what is happening with digital currencies and blockchains.

Blockseer’s intellectual property (IP) includes two (2) United States provisional patents: (a) Providing Data Provenance, Permissioning, Compliance, and Access Control for Data Storage Systems Using an Immutable Ledger Overlay Network; and (b) Off Network Identity Tracking in Anonymous Cryptocurrency Exchange Networks.

Blockseer’s current team comes from Stanford, Harvard, University of ChicagoCarnegie Mellon and Columbia with deep experience in artificial intelligence, big data, and blockchain and is led by its Chief Executive Officer and founder, Danny Yang. Its advisors include Andreas WeigendBill TaiStephen Sorkin, Vas Bhandarkar, Phil Porras, and Brian Klein, and its influential shareholders include Charlie Lee, the founder of Litecoin.

“To date, DMG has received recognition as a market leader in the crypto mining space, and now with the Blockseer acquisition, DMG can claim leadership in the blockchain development arena and deliver on its commitment to be a diversified blockchain company. Blockseer is not a single blockchain application, but a blockchain development engine for multiple applications with well-known global customers. We believe that the Blockseer team is amongst the most talented in the industry today, and we welcome Dr. Danny Yang and the Silicon Valley team to DMG,” said Daniel Reitzik, CEO and Director of DMG.

Chris Filiatrault, DMG’s Chairman and Founder added, “Japan remains the largest crypto market in the world, and very few non-Japanese companies have been successful. With the Blockseer product line, and the DMG presence in the market today, Japan represents a massive opportunity for our stakeholders. We have already planned a visit for Dr. Danny Yang to visit Japan and look forward to sharing our progress in short order.””

Net Element, Inc. (NASDAQ: NETE) operates a payments-as-a-service transactional and value-added services platform for small to medium enterprise (“SME”) in the U.S. and selected emerging markets. In the U.S. it aims to grow transactional revenue by innovating SME productivity services using blockchain technology solutions and Aptito, our cloud based, restaurant and retail point-of-sale solution. Recently, the company announced that Mr. Jon Najarian has joined Net Element’s board of directors and will serve as a member of the Company’s Audit, Compensation, Nominating and Corporate Governance committees. Najarian is a professional investor, money manager and media analyst. He is a co-founder of Investitute, LLC, the industry leading options education firm that recently launched “Crypto Basics,” new educational course which covers the basics of cryptocurrency, blockchain technology, altcoins and Initial Coin Offerings (ICOs). Najarian is also a host of the International ICO Channel, a part of CoinBoost, whose goal is to bridge the divide between blockchain and mainstream media by offering distribution to traditional financial media outlets.

ChinaNet-Online Holdings, Inc. (NASDAQ: CNET) is an integrated online advertising, precision marketing and data-analysis and management services platform. On January 23, 2018, the company announced it has entered into an agreement with Wuxi Jingtum Network Technology and Ford tree Beijing Blockchain Technology Co., Ltd. (“Ford Tree”) to establish a new joint venture company to research and develop blockchain technology and its applications for ChinaNet’s blockchain technical and business units. ChinaNet will act as the controlling shareholder leading all aspects of the project. According to the Agreement, Jingtum’s Chief Technology Officer and other leading experts will be involved in the establishment of the new JV. The R&D team under the new JV will help ChinaNet design the underlying foundation of unique layered blockchain architecture, develop the cross-chain functionality between the principal and subordinate chains, realize the circulation of certain assets between different chains, design intelligent contract mechanisms to support complex logic, and complete the cloud service model and other important underlying technology. Ford Tree will be responsible for creating and reviewing the operating model for blockchain applications. Ford Tree has a proven track record in developing and operating blockchain applications, especially in the area of digital assets.

Eastman Kodak Co (NYSE: KODK) is a technology company focused on imaging. On January 9, 2018, the company announced the launch of the KODAKOne image rights management platform and KODAKCoin, a photo-centric cryptocurrency to empower photographers and agencies to take greater control in image rights management. Utilizing blockchain technology, the KODAKOne platform will create an encrypted, digital ledger of rights ownership for photographers to register both new and archive work that they can then license within the platform. With KODAKCoin, participating photographers are invited to take part in a new economy for photography, receive payment for licensing their work immediately upon sale, and for both professional and amateur photographers, sell their work confidently on a secure blockchain platform. KODAKOne platform provides continual web crawling in order to monitor and protect the IP of the images registered in the KODAKOne system. Where unlicensed usage of images is detected, the KODAKOne platform can efficiently manage the post-licensing process in order to reward photographers.

HIVE Blockchain Technologies Ltd. (OTC: HVBTF) continues to execute on its aggressive growth strategy to maintain its position as a market leader in the blockchain infrastructure industry and is fully financed to build out and bring online the balance of the Sweden GPU Data Centre by April 2018 and the Sweden Bitcoin Data Centre by September 2018. HIVE’s annualized run rate revenue (defined below) is projected to be $153 million once its announced Swedenexpansion is fully online, which is expected by September 2018. The annualized run rate revenue is calculated strictly on the basis of value of the digital currency earned at the time of mining, and does not include any adjustment for revaluation gains (or losses) for digital currencies held after that date. In the third quarter, HIVE acquired and launched operations of the second phase at its digital currency mining centre in Iceland. Included in the financial results for the quarter ended December 31, 2017 is a full quarter of operations from the initial 2.05 MW of mining capacity plus operations from the 1.75 MW expansion from October 13, 2017 which, combined, resulted in revenues of $3,274,186 and a gross mining margin of $2,382,687.

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