The Continued Spread of Blockchain Technology is Driving Global Market Growth
NEW YORK, November 28, 2018 /PRNewswire via COMTEX/ -- NEW YORK, November 28, 2018 /PRNewswire/ --
Blockchain has become increasingly popular among businesses, which are resulting in a major demand for blockchain-related services. Many large corporations, even small businesses, are adopting blockchain to integrate into their businesses. Blockchain can be used in many technology-based applications such as payment services, smart contracts, documentation, digital identity, supply management chains and others. According to data compiled by Meticulous Research, the global blockchain market is projected to reach USD 28.24 Billion by 2025. The market is expected to be driven by the increasing adoption of Backend as a Service (BaaS), increasing merchants accepting cryptocurrency and the growing implementation of blockchain in financial institutions. Blockchain is predominantly being used within ten major sectors: banking, financial services and insurance (BFSI); government; healthcare and life sciences; media and entertainment; retail and e-commerce; travel and hospitality; transportation and logistics; real estate; IT and telecommunication; and others. Netcoins Holdings Inc. GARLF, +10.05% Cisco Systems, Inc. CSCO, -1.51% Advanced Micro Devices, Inc. AMD, -1.21% Hewlett Packard Enterprise Company HPE, -3.95%Overstock.com, Inc. OSTK, +3.82%
In 2017, banking, financial services and insurance (BFSI) held the largest market share. Within the BFSI sector, payment solutions held the largest share. Blockchain has been heavily used in the payments industry, due to an increasing demand to transfer funds directly and securely to other users as well as to reduce costs of transactions. Payment solutions began to diversify with the prominent rise of cryptocurrency last year. Many businesses have begun to accept cryptocurrency as a form of digital payment due to its distributed ledger, which is backed by blockchain-based technology. "Fintech underwent a revolution of sorts this past year with the rise of crypto assets: Cryptocurrencies like Bitcoin and Ethereum have been dominating financial news outlets, and other applications of blockchain technology are being explored to streamline different elements of finance," said Jonathan Long, Founder of brand development agency, Uber Brands.
Netcoins Holdings Inc. GARLF, +10.05% is listed on the Canadian Securities Exchange under the ticker (cse:NETC). Yesterday, the Company announced breaking news, "that it has completed its largest single transaction to date, valued at over CAD $4.5 million.
In July 2018, Netcoins completed its first $1 million day and then first $2 million day in Canada. Netcoins then accomplished a $4 million day in September, again in Canada, while continuing to expand services into the US and globally, including Europe. Netcoins also completed a $2M day earlier in November in European transactions.
'Despite the bear crypto market that is upon us, Netcoins continues to grow our top line transactional revenue number. Q4, to date, is on track to be our best transactional revenue quarter in company history despite the recent market turmoil and Bitcoin price depreciation,' says Netcoins CEO, Mark Binns. 'We have built our business on transactions and volume in the crypto market place, not the value of any underlying crypto asset. Volatility in the market, creating buying and selling volume, supports our business. We look forward to providing more updates as we continue to hit new milestones.'
About the Company: The Company is in the business of developing software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor through brokerage services. Netcoins enables crypto transactions via 171,000+ retail locations globally and an Over-The-Counter (OTC) trading desk."
Cisco Systems, Inc. CSCO, -1.51% is the worldwide technology leader that has been making the Internet work since 1984. As Cisco Systems considers the complexity and vastness of the journey it has been on with blockchain, it's become evident there's still more work to be done at the ecosystem level. Cisco is a big believer in strategic partnerships in the blockchain space - that's why it is the co-founding members of the Trusted IoT Alliance and Hyperledger. Additionally, that's why the Company has joined three more initiatives. Blockchain is but a tool in a big tool chest of technologies, but it's an especially important one because it can be a binding factor to drive transformational change. The Company recently joined three more blockchain initiatives to help further advance research in a number of areas. It was only a matter of time until Cisco joined the Blockchain Research Institute. Founded by Don and Alex Tapscott, the co-authors of the book Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World, the Blockchain Research Institute (BRI) is a global think tank that helps organizations realize the promise of the digital economy by researching the strategic implications of blockchain technology and producing practical insights to guide its members in achieving success. "I've long found the research BRI has been doing across all sectors quite compelling. Now Cisco will help contribute to that research and gain access to others' work as well. It's so valuable to share knowledge and insight across industries to strengthen the whole blockchain ecosystem. And this will also help hasten adaptation among our customers and partners, helping them understand what blockchain is (and isn't) and realize its business value," said Anoop Nannra, Senior Leader and Head of Cisco's Blockchain Initiative.
Advanced Micro Devices, Inc. AMD, -1.21% for more than 45 years, has driven innovation in high-performance computing, graphics and visualization technologies - the building blocks for gaming, immersive platforms and the datacenter. AMD recently announced revenue for the third quarter of 2018 of USD 1.65 Billion, operating income of USD 150 Million, net income of USD 102 Million and diluted earnings per share of USD 0.09. On a non-GAAP basis, operating income was USD 186 Million, net income was USD 150 Million and diluted earnings per share was USD 0.13. Computing and Graphics segment revenue was USD 938 Million, up 12% year-over-year and down 14% quarter-over-quarter. Year-over-year revenue growth was primarily driven by strong sales of Ryzen desktop and mobile products, partially offset by lower graphics revenue. Blockchain-related GPU sales in the third quarter were negligible. In the third quarter of 2017, blockchain-related GPU sales were approximately high single digit percentage of total AMD revenue. The quarter-over-quarter decline was due to significantly lower graphics revenue driven by high channel inventory, partially offset by higher Ryzen processor revenue. "We delivered our fifth straight quarter of year-over-year revenue and net income growth driven largely by the accelerated adoption of our Ryzen, EPYC and datacenter graphics products," said Dr. Lisa Su, AMD President and Chief Executive Officer. "Client and server processor sales increased significantly although graphics channel sales were lower in the quarter. Looking forward, we believe we are well positioned for further market share gains as we continue making significant progress towards our long-term financial targets."
Hewlett Packard Enterprise Company HPE, -3.95% helps customers use technology to slash the time it takes to turn ideas into value. Hewlett Packard Enterprise recently announced that it plans to invest USD 4 Billion in Intelligent Edge technologies and services over the next four years. This strategic organic investment will be focused on helping customers turn all of their data - from every edge to any cloud - into intelligence that drives seamless interactions between people and things, delivers personalized user experiences, and employs AI and machine learning to continuously adapt to changes in real time. For example, Aruba and HPE Pointnext services are helping Gatwick Airport achieve its goal of becoming the most technologically advanced airport in the world. HPE's Edge systems are helping Texmark create the refinery of the future which will make the manufacturing of chemicals safer and more efficient, and helping Streamr grow their marketplace for data monetization by collecting and storing data from an individual car on a blockchain, ultimately giving control of the data to the driver. "Data is the new intellectual property, and companies that can distill intelligence from their data -whether in a smart hospital or an autonomous car-will be the ones to lead," said Antonio Neri, President and Chief Executive Officer, HPE. "HPE has been at the forefront of developing technologies and services for the Intelligent Edge, and with this investment, we are accelerating our ability to drive this growing category for the future."
Overstock.com, Inc. OSTK, +3.82% is an online retailer based in Salt Lake City, Utah that sells a broad range of products at low prices, including furniture, décor, rugs, bedding, and home improvement. Overstock.com, Inc. recently announced that its blockchain-meets-property rights subsidiary, Medici Land Governance, has signed its second Memorandum of Understanding (MOU) with an African nation to develop a blockchain-based platform to manage land governance and property rights. This latest MOU has been signed with the Rwanda Land Management and Use Authority (RLMUA) and the Rwanda Information Society Authority (RISA) to implement Medici Land Governance's technology to move Rwanda to a paperless, secure, corruption-proof, blockchain-based system of land governance. Medici Land Governance (MLG) will help Rwanda's government incorporate blockchain and other technologies into its existing systems, developing a paperless system that relies on electronic signatures and digital lodging of surveys for the administrative processes that affect land rights and transfers. This system will facilitate increased direct interaction among government entities and private landowners, utilizing the decentralized and distributed blockchain to ensure secure transfer of assets and records. "This agreement with the Rwandan government creates an outstanding opportunity to show how blockchain can be used to lift people out of poverty," said Dr. Patrick M. Byrne, Chairman of Medici Land Governance and founder and Chief Executive Officer of parent company, Overstock.com. "Rwanda has made tremendous progress in standardizing land claims by maintaining a land registry that eases the process of doing business in Rwanda. I believe solving that problem will trigger a cascade of positive developments: so much capital will be liberated into the hands of the poor, and they will lift themselves out of poverty. We look forward to bringing the benefits of blockchain to the poor across Africa and the globe."
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