Global Blockchain Market to Reach $60.7 billion in 2024; Spherix Incorporated (NASDAQ: $SPEX) Aims to Educate Investors and Industry Watchers with New Media Acquisition
Companies Mentioned: Spherix Incorporated ($SPEX), IBM (NYSE:$ IBM), Microsoft (NASDAQ: $MSFT) and Accenture (NYSE: $ACN)
NEW YORK - March 28, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in Blockchain content with its Bitcoin and blockchain portals Bitcoinandblockchainstocks.com, Cryptocurrencyinvestorideas.com and Blockchaininvestorideas.com releases a sector snapshot for the blockchain sector. Companies mentioned include Spherix Incorporated (SPEX), IBM (NYSE: IBM), Microsoft (NASDAQ: MSFT) and Accenture (NYSE: ACN).
According to a report entitled, Blockchain: Market Shares, Strategies, and Forecasts, Worldwide, 2018 to 2024, "The global market for blockchain at $708 million in 2017 is anticipated to reach $60.7 billion in 2024. IBM (NYSE: IBM) and Microsoft (NASDAQ: MSFT) are driving blockchain as their clients are making the transition to cloud services. Accenture (NYSE: ACN) has measurable market share as well."
For investors looking at the sector there are now four ETF's focusing on blockchain; Amplify Transformational Data Sharing (BLOK), Reality Shares Nasdaq NexGen Economy (BLCN), First Trust Indxx Innovative Transaction & Process (LEGR) and Innovation Shares NextGen Protocol (KOIN).
A recent entry into the sector, Spherix Incorporated (SPEX), is now setting up investors and industry watchers with educational tools to explain this innovative technology. It's confusing for beginners to differentiate between the negative regulatory headlines on cryptocurrency and ICO's and the innovation breakthrough blockchain technology represents globally And if there is a problem with blockchain - why are all the biggest names in tech all on board with it?
Spherix Incorporated (SPEX) reported yesterday that they had closed an investment in TheBit Daily LLC ("TheBit"), a development stage media and education platform focused on the blockchain and cryptocurrency space. The site provides strategic and intelligently condensed insight into this exciting technology. For more information, please visit: www.thebitdaily.com.
TheBit Daily aims to lower the barrier of entry into the blockchain and cryptocurrency technology fields. TheBit informs readers, who range from beginners to experts, through its easy to understand "Guides" on the main concepts behind blockchain and cryptocurrencies. TheBit offers a free custom-curated newsletter that apprises users on the latest updates and events impacting the blockchain and cryptocurrencies sectors. This laymen's terms newsletter keeps readers informed in just 3 minutes or less and is sent 3 times per week. The site also publishes interviews with leaders in the industry, which keep its audience at the forefront of this innovative technology. Moving forward, TheBit plans on expanding its platform to include community sourced resource discovery, informational videos and access to a social network focused on the blockchain ecosystem. TheBit was founded by Erica Amatori and Chris Hoyle, both of the College of William & Mary, the second oldest college in the nation.
Anthony Hayes, CEO of Spherix stated, "Our investment in TheBit provides our shareholders another opportunity to participate in the growing blockchain and cryptocurrency space, while also being accretive to our proposed acquisition of DatChat. As the Company moves into the blockchain space, TheBit provides our shareholders and other users with clear and easy to understand information about blockchain and cryptocurrencies. This investment will seek to diversify our revenue base as we help incubate and grow a fantastic startup. This is a true win-win. TheBit offers something special and we are very proud to be working with Erica and Chris."
Erica Amatori, Co-Founder of TheBit Daily, told their story. "When Bitcoin was booming in 2017, friends asked us constantly how to participate in its explosive growth. That's when we realized there was a lack of education in the space. Articles and media were geared towards highly complex and technical information. TheBit Daily was born out of the need to simplify blockchain for everyone."
Co-Founder, Chris Hoyle, had this to say about the future. "Blockchain and ICO enthusiasim has overwhelmed many people and caused great discomfort regarding the space. TheBit Daily seeks to demystify the area and help fill the void where the media and investment community have failed. We remain very optimistic about the motivations of builders in the space and the potential use cases for cryptocurrencies and blockchain. Our mission will be to provide clarity so that the right ideas can receive the public attention and level of understanding that they deserve."
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