Blockchain Technology Changing Many Industries - Not Just For Cy

Blockchain Technology Changing Many Industries - Not Just For Cyrptocurrencies

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SOURCE MarketNewsUpdates.com

MarketNewsUpdates.com News Commentary

PALM BEACH, Florida, January 3, 2018 /PRNewswire/ --

Blockchain technology to the surprise of many is not just for cryptocurrencies such as Bitcoin, Litecoin, Ripple, Etherium and so on. Blockchain has proven to be the latest, single most disruptor to pop on the scene in a very long time and promises to improve efficiency in numerous processes, plus create new business opportunities for industries like financial services, gaming, medicine, energy, electronics, media & entertainment, insurance, travel and much more. Blockchain enables companies doing business with each other to record transactions securely. Its strength lies in its trustworthiness. For 2018 many expect to see blockchain becoming a widely adopted mainstream technology with the adoption of blockchain is expected to continue at an even faster pace. Active Companies in the markets this week with developments include: Tapinator, Inc. (OTC: TAPM), Bitcoin Services Inc. (OTC: BTSC), Long Blockchain Corp. (NASDAQ: LTEA), Net Element Inc. (NASDAQ: NETE), Hive Blockchain Technologies Ltd. (OTC: PRELF) (TSX-V: HIVE).

Tapinator, Inc. (OTCQB: TAPM), a leading developer and publisher of mobile games on the iOS, Google Play and Amazon platforms, today announces the formation of a new subsidiary, Revolution Blockchain, LLC, to develop and publish distributed apps and games that leverage blockchain technology.

Revolution Blockchain's first product is currently under development and scheduled to launch in the second quarter of this year. This product will leverage blockchain technology for both payment (i.e. the purchase & sale of virtual assets) and the storage of these assets via non-fungible tokens that live on the blockchain. The new subsidiary has also completed an initial private placement for $100,000 with an individual accredited investor resulting in the issuance of membership interests that are convertible into Tapinator's common stock at a price of $0.25 per share. Read this and more news for Tapinator at: http://www.marketnewsupdates.com/news/tapm.html

"We believe that we're at the dawn of a new revolution where the applicability of blockchain technology will expand from currency trading to industry-changing applications and games," commented Ilya Nikolayev, CEO of Tapinator. "The formation of our Revolution Blockchain subsidiary allows us to plant a hard stake in the ground and make a long-term commitment to the distributed app market. Our management team has been in the application development and publishing space for over ten years now and successfully made the transition from social/desktop to mobile ecosystems. Similarly, we now believe Tapinator is extremely well positioned and qualified to create early leadership within the decentralized apps market."  

Decentralized apps (or DApps) are applications which run on a P2P network of computers instead of on one single computer or server; eliminating the issues involved with having a central point of failure. They are considered to be a form of software program designed to function on the Internet without being controlled by a single entity. DApps can have front-end code and user interfaces written in any language, just like a traditional application, which can make calls to its backend.

"We are very enthused about the crypto gaming products we have in development," Nikolayev added. "As we get closer to the Q2 launch date, more details will be released."

The Ethereum Platform is currently the leading blockchain platform for DApps and allows developers to write smart contracts and decentralized applications where the developer chooses its own rules for ownership, transaction formats and transitions functions. Multiple types of DApps are now being created across multiple categories, including finance, governance, community, legal, health, education and gaming. Specifically, as it relates to Tapinator's core business of gaming, players can currently invest thousands of hours in games to build up powerful or unique in-game assets, and yet they have no ownership over them. Given recent industry concerns over loot crates and skins gambling, the ownership and control of in-game items has become a real issue for the $100+ billion games industry. Blockchain-based gaming apps provide an increasingly real solution to these issues. According to CoinMarketCap, the aggregate market value of cryptocurrencies increased from $17.7 billion to over $600 billion in 2017, which clearly indicates the rising interest in adoption of blockchain and cryptocurrency.

In other industry developments from around the markets:  

Bitcoin Services Inc. (OTC: BTSC) closed Tuesday at $0.2665 trading over 8 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.

Long Blockchain Corp. (NASDAQ: LTEA) close up Tuesday over 20% at $6.17 trading over over 2.8 million shares by the market close. The company announced last week announced that it has entered into a two-million-dollar convertible debt facility, with an additional two-million-dollar option, to support the shift of the Company's primary corporate focus towards the exploration of and investment in specific ventures relating to blockchain technology. The lender of the convertible debt facility, Court Cavendish Ltd., is a UK-based investment firm that has agreed to provide financing to support the working capital requirements of the Company while the Company moves into specific ventures relating to blockchain technology.

Net Element Inc. (NASDAQ: NETE) closed up over 24% on Tuesday at $13.83 trading over 3.8 million shares by the market close. The company also announced a $7.55 million private placement with a New York-based office. The global financial technology that supports electronic payments acceptance completed a deal of restricted common stock and warrants with a family office that has made a number of investments with blockchain technology platforms. Net Element acquired shares of the Company's restricted common stock, along with five-year warrants at a price of $11.25 per unit, with each unit amounting to 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 at the end of 2017.

Hive Blockchain Technologies Ltd. (OTC: PRELF) (TSX-V: HIVE.V) and Genesis Mining Ltd. announced last week pursuant to the initial agreement dated Oct. 23, 2017, the company will pay to Genesis $22-million (U.S.) in consideration for data centre equipment. The data centre equipment pursuant to the initial agreement will be located in Sweden. The exchange has also accepted for filing documentation pertaining to an agreement dated Oct. 25, 2017, between the company and Genesis. Pursuant to the expansion agreement, the company will pay to Genesis a further $22-million (U.S.) in consideration for additional data centre equipment. The data centre equipment pursuant to the expansion agreement will also be located in Sweden.

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