NEW YORK, March 5, 2018 /PRNewswire/ --
According to CoinMaketCap, the total market capitalizations of the cryptocurrency market was about $457 billion on Friday. Bitcoin is still the world's largest cryptocurrency by market cap, with a market value of about 187 billion. Increasing adoption of cryptocurrency and blockchain technology helped cryptocurrencies rebound from its lows earlier last month. According to a report from TechCrunch, Japanese e-commerce Company Rakuten plans to launch a blockchain-based cryptocurrency called Rakuten Coin. The new coin will be used in the company's existing points-based loyalty rewards system. Global Blockchain Technologies Corp. (OTC: BLKCF), Eastman Kodak Company (NYSE: KODK), NXT-ID, Inc. (NASDAQ: NXTD), Pareteum Corporation (NYSE: TEUM), HIVE Blockchain Technologies Ltd. (OTC: HVBTF)
According to CNBC, Tom Lee, Co-founder and Head of Research at Fundstrat Global Advisors, maintained his mid year target price of bitcoin at $20,000. He said in a report Wednesday: "The announcement by Rakuten is another example of positive developments in crypto in 2018, suggesting the large sell-off in bitcoin and others at the start of the year was an overshoot to the downside. In 2018, we forecast at least 3 major publicly-traded corporations to issue native digital tokens. Already three major companies have announced efforts within crypto-currencies, which demonstrate that corporations may be moving towards crypto-currencies before Wall Street has embraced them."
Global Blockchain Technologies Corp. (OTC: BLKCF) also listed on the Canadian Securities Exchange under the ticker symbol 'BLOC'. Last week the company announced breaking news that, "it has closed the acquisition of Coinstream Mining Corp. ("Coinstream") previously announced on February 13, 2018, by way of a three-corner amalgamation. Under the terms of the definitive acquisition agreement (the "Agreement"), BLOC acquired 100% of Coinstream and assumed all of its existing assets and underlying agreements at present, including:
- The Manitoba joint venture facilities totaling 50 MW of capacity, with 35 MW of capacity available immediately. BLOC's subsidiary, Global Blockchain Technologies Corp., will supply cryptocurrency mining units on the basis of a 70/30 split in favour of BLOC.
- The wholly-owned Mozambique facility totaling 25 MW of capacity, with 10 MW of capacity available immediately. The Mozambique facility will host BLOC machines and/or seek joint ventures for the rapid procurement of cryptocurrency miners. These facilities have an average power cost of USD$.03 per KwH.
- A 25% interest in Distributed Mining Inc. ("Distributed Mining"). Distributed Mining is a blockchain software company creating software that enables all devices to have the ability to participate in mining cryptocurrency. The software will be available to be downloaded through Distributed Mining, or through its partner sites. Connected devices will then be able to activate mining operations through their devices (including but not limited to mobile phones and gaming consoles).
Distributed Mining would allow anyone with a connected device to download and install a software packet, giving the user access to optimized cryptocurrency mining. The distributed mining platform will be able to optimize for variable mining requirements, and its design is particularly well suited for gaming consoles, of which there are over 100 million currently connected units. Gaming consoles contain stronger processing power than that found in typical laptop/desktop computers, making them the perfect environment to deploy the distributed mining platform as individuals are able to put their resting consoles to work, earning them valuable cryptocurrency tokens.
Both the Manitoba and Mozambique facilities are managed by personnel who are seasoned in the operation of cryptocurrencies, providing a turnkey and lean solution to BLOC.
The Company issued 32.5 million shares to the Vendors of Coinstream to satisfy the terms of the Agreement. No finder's fees were paid on this transaction.
The Company has also closed a private placement of 9,090,909 units ("Units") for gross proceeds of $5,000,000. Each Unit consists of one common share issued at $0.55 per share (a "Share") and one common share purchase warrant (a "Warrant"). Each Warrant may be exercised by the holder to purchase an additional Share at a price of $0.75 for 24 months from closing.
The net proceeds of the Private Placement will be used towards investment in or incubation and creation of new blockchains in partnership with leading brands and industry participants whose principal areas of business truly merit and benefit from decentralization and the blockchain. In addition the Company will evaluate new projects and possible acquisition(s) of other target Companies and general working capital. The Units have a four-month hold period expiring on July 2, 2018. No finder's fees were paid in connection with the Unit issuances."
Eastman Kodak Company (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.
NXT-ID, Inc. (NASDAQ: NXTD) provides a comprehensive platform of technology products and services that enable the Internet of Things (IoT). Last month, NXT-ID, Inc.'s subsidiary Fit Pay, Inc. announced that it is now accepting pre-orders for Flip™, a new contactless payment device that will enable cryptocurrency holders to use the value of their currency to make purchases at millions of retail locations. The new device, which was announced earlier last month, uses value exchanged from cryptocurrency to make traditional payment transactions. Flip's near field communication (NFC) antenna allows it to transact payments at any retail point of sale location that accepts contactless payments. Flip will store a preloaded amount of U.S. dollars that are exchanged from the user's existing cryptocurrency account. It includes a digital wallet that allows the user to set how much value they would like their Flip to hold and when they would like it to reload. Flip does not need to be charged. Initially, Flip will accept value exchanged from Bitcoin and will potentially expand to other cryptocurrencies in the future.
Pareteum Corporation (NYSE: TEUM) last month announced that it has published a whitepaper to explore the opportunities that Blockchain enables including security, identity management and settlement. The whitepaper begins with defining how Blockchain supports the integration of various forms of traditional and next generation payment models. Providing real-world use cases, the whitepaper demonstrates how Blockchain relates to the communications market. The Whitepaper explores how the Pareteum Global Cloud Service Platform supports Blockchain enablement and why it's important for mobile solutions providers to understand the basics of this new technology. Ali Davachi, Chief Technology Officer comments, "Pareteum is focused on delivering enabling technology to all of its partners. The TEUM Blockchain (TBC) will revolutionize how our customers leverage Blockchain technology. Enabling our SaaS platform with identity management, transaction settlements and payment solutions greatly expands the opportunity for our customers."
HIVE Blockchain Technologies Ltd. (OTC: HVBTF) is a growth oriented company building a bridge from the blockchain sector to traditional capital markets. Recently, the company announced its results for the third quarter ended December 31, 2017. Subsequent to the quarter, on January 15, 2018, HIVE commenced mining operations from the initial 6.8 MW phase of the Sweden GPU Data Centre, nearly tripling its global footprint of energy consumption dedicated to digital currency mining to 10.6 MW. This has contributed to a strong increase in the Company's digital currency portfolio to a total value of $13,624,783 as at February 26, 2018. HIVE 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.
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