NetworkNewsWire
Editorial Coverage: The global blockchain technology market is
expected to surge to $20 billion by the end of 2024 (http://nnw.fm/L0fW9), according to Transparency Market
Research. The overall market is expected to exhibit a compound
annual growth rate of 58.7 percent between 2016 and 2024, with the
Asia Pacific region showing the most robust growth rate at 61.3
percent CAGR during the same time period. Momentum continues to
build as blockchain technology becomes more well-known and proves
its worth in both financial and non-financial sectors.
Forward-thinking companies like Victory Square
Technologies, Inc. (CSE: VST) (OTC: VSQTF) (FWB:6F6)
(VSQTF
Profile), Hive Blockchain Technologies
Ltd. (TSXV: HIVE.V), Long Blockchain Corp.
(NASDAQ: LBCC), Cboe Global Markets, Inc. (NASDAQ: CBOE)
and CME Group, Inc. (NASDAQ: CME) are all
visualizing blockchain technology as a portal into a profitable
future.
Blockchain Benefits
Blockchains are digitized, encrypted, secure ledgers providing a
decentralized database of financial transactions for a wide array
of industries from cryptocurrencies – think Bitcoin and Ethereum –
to global manufacturing and supply chains, logistics management,
medical records, international payments, smart contracts and legal
agreements. Notably, blockchain technology provides end-to-end
encryption and privacy, virtually removing the risk of a single
point of failure and assuring cybersecurity needs are being met
(http://nnw.fm/NE5uc). In fact, demand for the
technology is growing so rapidly that it’s expected to consume the
majority of capacity at about 60 data centers that International
Business Machines rents out to other companies (http://nnw.fm/W1K0m). IBM is already encouraging
startups to try blockchain technology by using the company’s cloud
storage for free.
Strategic Investments
About three years ago, Victory Square
Technologies, Inc. (CSE:VST) (OTC:VSQTF) (FWB:6F6), a
blockchain technology-focused venture builder, incubated and
invested in BTL Group, which is now a $250 million TSX-listed
company providing blockchain solutions to a wide variety of
industries. BTL’s showcase product – Interbit – is a blockchain
platform that facilitates the rapid development of business
applications that dramatically improve efficiency. BTL Group
co-founder Guy Halford-Thompson was recently appointed as the
company’s strategic advisor (http://nnw.fm/YBty9) and will advise Victory Square’s
portfolio companies, including VS Blockchain Assembly and FansUnite
Media Inc. Victory Square’s recent introduction of VS Blockchain
Assembly Inc., which was developed to deliver blockchain and crypto
advisory services to its portfolio companies, illustrates the
company’s commitment to this “once-in-a-generation” market
opportunity (http://nnw.fm/7lvQv).
“Blockchain Assembly will act as a services firm providing
guidance on technology architecture and development, and will
facilitate banking, legal and commercialization services,” said
Shafin Diamond Tejani, chief executive officer of Victory Square.
“…Blockchain Assembly assists these companies with their
fundraising objectives, whether they pursue capital through token
generation events, private funding, or raising money through the
public markets. We are using our expertise at company building to
identify, incubate, advise and invest in the best blockchain
entrepreneurs, helping build the tech titans of the next
century.”
The addition of blockchain and cryptocurrency pioneer Pavel
Bains, CEO of Bluzelle Platform Pte. Ltd., as Victory Square’s
newest strategic advisor underscores the company’s dedication to
supporting entrepreneurial dreamers (http://nnw.fm/uOhK7).
“Victory Square exists to enable the next generation of
entrepreneurs to experiment, iterate and reinvent both themselves
and their businesses to provide innovative solutions to problems
with a global reach,” Tejani, stated in the news release. “Pavel is
an exemplary individual who has a wealth of experience to impart on
other entrepreneurs and we look forward to having him help shape
the trajectory of many of the companies in our blockchain
portfolio.”
Powerful Potential
The power of blockchain technology is very real and, according
to numerous industry reports, it would be folly for businesses to
ignore the technology’s disruptive potential (http://nnw.fm/rYNS0). Demand for the technology is
growing and Victory Square, set to attend and engage over 1,500
major stakeholders in the North American Bitcoin Conference January
18-19 in Florida, will be sponsoring a $100,000 investment prize
pool for the top three blockchain companies during the “Pitch Your
ICO” session (http://nnw.fm/7EWUd).
Organized by Keynote Events, the conference will cover a wide
array of topics relevant to blockchain technology, cryptocurrency,
ICOs, regulations and more. At the September 2017 Keynote event
held in London, Victory Square’s portfolio company FansUnite Media
Inc., presented and took home second place for its new sports
betting platform using blockchain technology.
“We’re extremely excited to be playing such a prominent role at
the North American Bitcoin Conference,” Tejani said. “It is the
premier conference for blockchain and cryptocurrency and we’re
looking forward to using the opportunity to engage with some of the
most promising startups and respected blockchain thought-leaders in
the world.”
Harnessing the Power
Billions of people now connected to each other via the internet
are also vulnerable to security risks, as numerous media reports
attest, pointing to compromised Yahoo accounts, defective
microchips in popular computers and mobile devices, state-sponsored
Russian hackers, malware, and so on (http://nnw.fm/U5yd4). But blockchain technology has
many potential applications that experts in the field believe can
solve many of these threats. Among its powerful applications is the
ability to hold more documents and data than traditional stage
units, making it one of the “bright sectors” in technology, said
Roger Kay, president of Endpoint Technologies Associates Inc. Sales
growth in cloud services, databases and services will jump by 35
percent, according to Susan Eustis, chief executive officer of
WinterGreen Research (http://nnw.fm/OF3q9), pushing more large companies to
use the cloud than their own data centers.
Potential Comparables
Hive Blockchain Technologies (TSXV: HIVE.V)
manages a cryptocurrency mining operation. The company focuses on
building a bridge from the blockchain sector to traditional capital
markets through its acquisition of Genesis Mining Ltd., the world’s
largest Bitcoin mining company. Hive also has the option to acquire
four additional data centers from Genesis in Iceland and Sweden.
The company will leverage Genesis’ infrastructure design and
software to identify and manage new cryptocurrencies as they become
profitable to mine. Mining relies on energy efficiency to make it
profitable and Iceland provides abundant and cheap electricity from
renewable resources. Geographically, it also provides a fast,
reliable internet connection and gateway between North America and
Europe.
Long Blockchain (NASDAQ: LBCC), which received
approval January 5, 2018, to change its company stock trading
ticker symbol to LBCC from LTEA (Long Island Iced Tea Corp.), has
entered into an agreement to acquire 1,000 Bitcoin mining machines
(http://nnw.fm/t1mY2). The company’s new website
states it is dedicated to becoming a significant blockchain
business that creates long term value for its shareholders and the
wider community by investing in and developing businesses that are
"on-chain." The strategic shift in focus will pivot the business to
pursue opportunities in an evolving industry, a press release
states (http://nnw.fm/1NTvL).
Headquartered in Chicago, Cboe Global Markets (NASDAQ:
CBOE), one of the world’s largest exchange holding
companies, debuted its Cboe Bitcoin futures (XBT) market December
10, 2017, with about 20 trading firms actively participating
(http://nnw.fm/9rcQQ). Over the past five years,
the total value of all Bitcoin outstanding (market capitalization)
has grown from less than $1 billion to over $262 billion, with the
total value of all cryptocurrency tokens outstanding now at
approximately $423.7 billion, according to Cboe Global Markets.
Also based in Chicago, CME Group (NASDAQ: CME)
operates derivative exchanges in the United States and Europe.
Through its exchanges, CME Group offers the widest range of global
benchmark products across all major asset classes, including
futures and options based on interest rates, equity indexes,
foreign exchange, energy, agricultural products and metals. In
October 2017, CME Group announced it would launch Bitcoin futures
in the fourth quarter of 2017. CME Group chairman and chief
executive officer Terry Duffy said the decision to introduce a
Bitcoin futures contract was based on the increasing interest from
clients in the evolving cryptocurrency markets (http://nnw.fm/Tld2B).
A Revolution in the Making
Blockchain technology not only is transforming the way financial
firms conduct business, it is promising to revolutionize nearly
aspect of society. The science at the heart of blockchain
technology lets the individual and massive corporations alike not
only imagine a safer, more profitable future, but experience a less
stressful experience today when it comes to managing digital
transactions. Instead of struggling with intermediaries and the
possibility of exponentially greater errors cropping up along the
algorithm being utilized to conduct business, blockchain technology
connects each transaction, process, and task with its own
digitized, secure record that is easily identified, stored and
shared between the parties involved. It’s a game changer and one
that companies like Victory Square Technologies are facing
head-on.
For more information on Victory Square, visit Victory Square
Technologies, Inc. (CSE:VST) (OTC:VSQTF) (FWB:6F6).
For a more in-depth look into Victory Square
(CSE:VST) (OTC:VSQTF) (FWB:6F6), view the full report on Microsmallcap.com.
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