PALM BEACH, Florida, January 18, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
With its rise to prominence, Blockchain is beginning to disrupt the financial industry as more institutions are developing strategies to maximize the technology for consumers. From commercial real estate to investment management firms, the benefits blockchain has to offer can completely transform the financial landscape as it currently exists. Cumulative investment in blockchain startups surpassed $1.5 billion last year and that number figures to only increase as more mainstream, industry giants implement the technology in their day to day operations. Given the promise and peril of such a disruptive technology, many firms in the financial industry, from banks and insurers to audit and professional service firms, are investing in blockchain solutions. Industry Active companies in the news this week include Black Cactus Global (OTC: BLGI), Eastman Kodak Company (NYSE: KODK), Net Element Inc. (NASDAQ: NETE), BTSC Inc. (OTC: BTSC), Pareteum Corporation (NYSE: TEUM).
Black Cactus Global (OTC: BLGI) is pleased to announce that it has entered into a Memorandum of Understanding ("MOU") with NSB Holdings ehf ("NSB") of Iceland. The particulars of the MOU map out the plan for Black Cactus to become the majority stakeholder of a bank ("the Bank") in Iceland for the purposes of creating the first fully digital bank.
The acquisition of the Bank is a major step forward in Black Cactus Global's strategic plan to become the first fully integrated digital financial institution with Blockchain technology as its operating foundation. The Company, in cooperation with NSB, will convert and rapidly develop the world's first full-service Digital Bank based on Blockchain Technology. Read this and more news for BLGI at http://www.marketnewsupdates.com/news/blgi.html
Iceland boasts a fast moving, modern and competitive economy with a transparent and efficient regulatory system. NSB is a registered holding company in Iceland with offices in the capital of Reykjavik. Iceland is a member of the European Free Trade Association and also holds an extensive Free Trade Agreement with China.
The Bank of interest is fully licensed to operate in Iceland and, after approval, also operate within the European Union (EU) and the expanded area of the European Economic Area (EEA), which makes this an excellent opportunity to expand our operations to an international scale under comprehensive and efficient legislation. Black Cactus has plans to bring its specialized Blockchain applications, digital products and banking services to a wide array of commercial and governmental clients throughout the EU, North America and beyond.
In industry developments and happenings in the market this week include:
Eastman Kodak Company (NYSE: KODK) closed up over 11% on Wednesday trding over 8.86 million shares by the market close. The company recently announced with WENN Digital, in a licensing partnership, 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.
Net Element Inc. (NASDAQ: NETE) recently announced it has completed a $7.55 million private placement of restricted common stock and warrants with a New York-based family office that has made several investments in companies with blockchain technology platforms. The investor purchased shares of the Company's restricted common stock, and five-year warrants at a price of $11.245 per unit, each unit consisting of one share of common stock and 60% of a warrant at an exercise price of the stock's consolidated closing bid price of $11.12 on December 29, 2017. The new investment will fuel the continued development of the Company's blockchain-focused unit, support growth initiatives and allow for potential acquisitions. Net Element's blockchain-focused business will be a decentralized crypto-based ecosystem that will act as a framework for value-added services ("VAS") that can connect merchants and consumers directly utilizing blockchain technology while increasing the speed and efficiency of transactions made through the Company's processing, settlement and services ecosystem.
BTSC Inc. (OTC: BTSC) closed down slightly on Wednesday trading over 10.9 Million shares by the market close. Bitcoin Services, Inc. engages in the bitcoin and mining of other crypto currencies. The company offers bitcoin escrow service, which acts as a neutral third party between buyer and seller when doing business online; and Bitcoin mining services through running SHA256 double round hash verification processes in order to validate Bitcoin transactions and provide the requisite security for the public ledger of the Bitcoin network. It is also involved in the development and sale of blockchain software.
Pareteum Corporation (NYSE: TEUM) closed up over 3% on Wednesday at $2.40 with a volume of more than 3 million shares traded by the market close. The company also announced that it has been awarded a five-year $3 million contract for implementation of its Managed Services Solution with a South American provider of communications solutions with over 20 years of successful market experience. Pareteum's Managed Services Platform, our longest provided in-service product (over ten years of commercial use), delivers the value generating software based Intellectual Property of TEUM. This includes: web portal, E-commerce platform, subscriber management, end user and back-office billing, carrier settlement systems (supporting Blockchain management, with multi-currency and crypto payments support), and Intelligent network management, with self-care portal services. It is our intelligent network, with our Home Location Registry (HLR), delivered as a service that manages the core mobile network.
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