Blockchain Technology Gains Further Adoption: From Supply Chain to Financial Solutions and Mining
Point Roberts, WA and Delta, BC - July 1, 2021 (Investorideas.com Newswire) Investorideas.com, a leading investor news resource covering cryptocurrency and tech stocks releases a special report on the rapid adoption of blockchain technology into retail, supply chain, financial services and mining as both consumers and businesses gain comfort and familiarity with blockchain technology and its implementation.
According to several recent reports looking at future growth in the sector; "Blockchain Technology in Energy Market 2021", "Blockchain Technology in Financial Market May Set New Growth" and "Blockchain Supply Chain Market To Witness Astonishing Growth - 2026", blockchain growth is outpacing many other technologies. This is creating a substantial growth opportunity for companies implementing blockchain technology into their services portfolios.
Seeing the future potential, Epazz Inc. (OTC: EPAZ), a provider of blockchain cryptocurrency mobile apps and cloud-based business software solutions, announced that the company is releasing the StreamPay Blockchain Smart Contract app by the Company's fourth quarter. StreamPay app is a solution for managers to monitor their supply chain for risk of fraud using blockchain smart contract technology to trace raw materials to finished goods. Please visit https://www.streampay.io
From the news: StreamPay is an enterprise supply chain risk monitoring and payment tracking solution that uses blockchain smart contracts to manage suppliers and finished goods. StreamPay technology keeps distributed ledgers to create articles to insert into smart contracts. Thus, supply chain manufacturers, suppliers, vendors, logistics companies, and customers can track goods and services from the raw materials to the finished product using QR codes and digital signatures.
From the news: StreamPay gives companies the ability to monitor their supply chain to determine whether it faces any risks. StreamPay features a risk index that alerts users on their dashboards to any supply chain problems that could arise. In addition, StreamPay manages quality assurance to ensure the finished goods meet the requirements the customers set. It also allows inspectors to issue certifications to suppliers and partners. Finally, StreamPay enables parties of a transaction to make policy decisions, and its smart contracts issue payments to suppliers when goods or services have been delivered, based on the terms of the smart contracts. The parties can pay in USD, Euros, or Cryptocurrencies, and the StreamPay wallet maintains the current local exchange rate. This provides users a worry-free payment experience that allows them to pay for small items without needing to buy and sell cryptocurrencies.
Shaun Passley, Ph.D., CEO, and Chairman of Epazz Inc. said, "We are excited about the launching of the StreamPay app by the end of the year. We believe this app will begin the process of building a company."
Already established in the space as a green crypto miner, HIVE Blockchain Technologies Ltd. (HIVE: TSX-V) (OTCQX:HVBTF) (Nasdaq:HVBT) recently announced its going deeper and is investing into Alpha Sigma Capital (ASC)'s flagship fund which launched in January of 2020. ASC is a pioneering digital asset fund focused on the blockchain economy and the shift to a decentralized Web3 infrastructure. The fund invests in companies and decentralized projects that are leveraging blockchain technology to provide demonstrable change and efficiency in financial services, artificial intelligence, supply chain, and biotechnologies. Alpha Sigma Capital utilizes a rigorous fundamental research approach in determining value and managing risk. Under ASC's Special Situations team, opportunities are examined from value-investing to distressed assets combined with deal structuring that includes mergers and acquisitions, restructuring, consolidation, and public offerings of both utility tokens and equities.
HIVE owns state-of-the-art green energy-powered data centre facilities, which produce newly minted digital currencies like Bitcoin and Ethereum continuously on the cloud. HIVE deployments provide shareholders with exposure to the operating margins of digital currency mining as well as a portfolio of crypto-coins. HIVE has also joined forces with Elon Musk and Michael Saylor, CEO of Microstrategy to form the Bitcoin Mining Council which is focused on renewable energy in the cryptocurrency space.
As blockchain adoption grows, cryptocurrencies, and Bitcoin specifically, are also seeing a rise in interest. Riot Blockchain, Inc. (NASDAQ: RIOT), one of the leading Nasdaq listed Bitcoin mining companies in the United States, recently announced its May production and operational updates, including its unaudited Bitcoin ("BTC") production for May 2021 and its latest miner delivery status.
From the news: In May 2021, Riot produced 227 BTC, an increase of approximately 220% over its May 2020 production of 71 BTC. For the year to date through May 2021, the Company produced a total of 924 BTC, an increase of approximately 101% over its pre-halving BTC production during the same 2020 period of 460 BTC. As of May 31, 2021, Riot held approximately 2,000 BTC, all of which were produced by its mining operations.
The Company plans to continue to provide monthly operational updates and unaudited production results through the end of 2021. These updates are intended to keep shareholders informed of Riot's mining production as it continues to deploy its expanding miner fleet.
On May 26, 2021, Riot announced it completed its previously announced acquisition of Whinstone U.S. ("Whinstone"). Whinstone's Bitcoin mining facility in Rockdale, TX is the largest Bitcoin mining facility in North America, as measured by its 300 MW in developed capacity. The Company announced its plans to immediately commence further development of additional capacity at Whinstone in order to rapidly bring the property to its current capacity of 750 MW. This expansion will be driven by Whinstone's industry leading development team of over 100 employees.
Whinstone's comprehensive energy management strategy delivers best-in-class net energy costs of approximately 2.5 cents per kWh utilizing cutting-edge technology and comprehensive analytics to deliver industry-leading low cost, reliable and responsive power.
By Q4 2022, Riot anticipates a total hash rate capacity of 7.7 EH/s, assuming full deployment of its anticipated fleet of approximately 81,146 Antminers acquired from Bitmain, 95% of which will be the latest generation S19 series model of miners. When fully deployed, the Company's total fleet is expected to consume approximately 257.6 MW of energy, with approximately 208 MW deployed at Riot's Whinstone facility and approximately 51 MW deployed at Coinmint LLC's facility. This results in an overall hash rate efficiency of 33 joules per terahash (J/TH). This demonstrates Riot's commitment to being a market leader by building one of the largest and most efficient Bitcoin mining fleets in the industry.
BIGG Digital Assets Inc. (CSE: BIGG) (OTC: BBKCF), owner of Blockchain Intelligence Group (blockchaingroup.io), a leading developer of blockchain technology search, risk-scoring and data analytics solutions, recently announced the hire of Michael Fasanello, an AML and Global Sanctions subject matter expert (SME) from PNC Bank. Fasanello's expertise will enhance BIG's services and products for VASPs, financial institutions, and law enforcement agencies of all sizes. Mr. Fasanello holds a law degree in civil and criminal litigation.
"Global financial institutions are in a high-stakes game as they eye mass adoption of cryptocurrency. BIG gives confidence to businesses adopting cryptocurrency," said Lance Morginn, President, BIG. "Michael Fasanello brings to BIG an unparalleled combination of public and private AML and global regulatory expertise to help guide BIG's growth and create additional value for our clients around the world. Michael's role demonstrates our commitment to growing BIG and further enhancing our product and service offering."
From the news: At BIG, Fasanello will advise executive management on issues surrounding cryptocurrencies as the global markets and regulations evolve, lead insight on regulatory issues relating to cryptocurrencies, support new development of BIG's Certified Cryptocurrency Investigator course (CCI), as well as lead training for public and private entities around the world.
Fasanello joins BIG from stints at the US Department of Treasury, PNC Bank, and First National Bank. At PNC, Fasanello was the Assistant Vice President of Anti-Money Laundering and Global Sanctions. Fasanello is an experienced compliance professional with over a decade of experience in the public and private sectors. He specializes in Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF), global sanctions, and illicit finance, focusing on digital assets and blockchain intelligence space.
Fasanello served in various roles in the US Justice and Treasury Departments. During his work with FinCen, he advised the Office of Regulatory Policy in developing and interpreting federal regulations under the Bank Secrecy Act (BSA). Before that, Michael handled Global Economic Sanctions and embargo cases for the Treasury's Office of Foreign Assets Control (OFAC).
According to a recent article on NASDAQ, "Decentralized finance (DeFi) has (even) caught the attention of the world's largest e-commerce marketplace, Amazon.com. With a market capitalization of more than $1.7 trillion, the multinational technology company is hiring an expert who is passionate about blockchain and decentralized finance."
From the article: New CEO Andy Jassy is set to take the helm next month, the job posting about a "Head of Product" for the Amazon Managed Blockchain division shows that the company wants to accelerate its penetration into crypto.
Amazon's job posting states: "Amazon Managed Blockchain (AMB) is a fully managed service that accelerates customers' ability to create and leverage scalable blockchain technology for current and innovative business use cases across Defi, Supply Chain, Financial Services, Identity, and more. We are looking for an experienced product leader to drive the vision, roadmap, feature definition, and go-to-market strategy of the AWS product offering across the rapidly evolving and broad landscape of blockchain technology and use cases."
Blockchain technology may still have some obstacles to overcome with the general public when it comes to understanding its usage and versatility, however, growing company adoption is bringing Blockchain technology to the forefront of more consumers and investors. As familiarity with this new technology becomes normalized, recent market research shows Blockchain is poised for aggressive growth.
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