Canadian Companies Betting on #Blockchain Technology; (CSE: $UPCO.C), (TSXV: $HIVE.V), (CSE: $BIGG.C), (TSXV: $BTL.V)
Canadian Companies Betting on #Blockchain Technology; (CSE:
$UPCO.C), (TSXV: $HIVE.V), (CSE: $BIGG.C), (TSXV: $BTL.V)
Point Roberts WA, Delta BC
- Investorideas.com, a leader in Blockchain content with its Bitcoin and blockchain
portals Bitcoinandblockchainstocks.com, Cryptocurrencyinvestorideas.com
and Blockchaininvestorideas.com
reports on blockchain technology potential, how it works and some of the
publicly traded Canadian companies in the sector.
Read
this news in full at http://www.investorideas.com/news/2018/bitcoin/01091Blockchain-CanadianCompanies.asp
Garner Research says, “The Blockchain
Revolution Promises to Touch Every Industry”, so the recent flood of entries
into the sector is no surprise.
Supporting the rise of blockchain, Royal
Bank of Canada (RBC) Capital Markets analyst Mitch Steves said on Twitter on
January 3rd that the “Crypto and blockchain technology market is a
potential multi-trillion dollar opportunity.”
Recent
news and developments in the sector:
Upco
International Inc. (CSE: UPCO) (Frankfurt: U06)
announced in late December that it had commenced development of its E-Wallet to
support Cryptocurrencies such as Bitcoin and Ethereum using Blockchain
Technology. With the development of the Upco E-Wallet using Cryptocurrencies,
users will be able to: send invoices, approve payments, and track transfers and
payments. The user will be able to choose his or her preferred method of
payment using either common currencies (fiat) or Cryptocurrencies.
Mr Andrea Pagani, CEO and President
commented: "The market cap and acceptance of Cryptocurrencies has
increased tremendously in the last year. The market cap of Bitcoin has
surpassed US$300 billion and Ethereum is over US$75 billion. We are developing
our E-Wallet that will allow our users to have common currencies (fiat) and
cryptocurrencies in it. Once developed, this will allow our users their choice
of currency to use on our system."
For investors trying to understand and
differentiate between bitcoin and blockchain, one of the best resources is
IBM’s blockchain for Dummies.*
Blockchain is the underlying technology of bitcoin but is now being used
in multiple applications.
On December 29th HIVE Blockchain Technologies Ltd. (TSX.V: HIVE)
a leading publicly listed blockchain infrastructure company, announced that it
closed the final C$65 million tranche of its previously announced private
placement of up to C$115 million.
“This financing provided us with a highly
accretive growth opportunity – increasing our overall computing power by more
than 150% (from 17.4 MW to 44.2 MW) with just 11% dilution to shareholders,”
said Harry Pokrandt, President, CEO and a Director at HIVE. “In addition to our
fully funded projects in Sweden, we will now have a strong working capital
balance of approximately US$50M and significant flexibility to explore further
projects and acquisitions.”
The net proceeds of the Offering are
expected to be used to fund the completion of the 20.0 MW Sweden Bitcoin Data
Centre and the 6.8 MW Phase 3 Expansion at the Sweden GPU Data Centre (as
described in the Company’s December 13, 2017 news release) and for general
working capital purposes. The Company’s first phase of expansion into Sweden is
well underway with completion expected by mid-January. Upon completion of all
phases, HIVE will have a total of 24.2 MW of GPU-based and 20.0 MW of
ASIC-based mining capacity across Sweden and Iceland.
On January 4th BIG Blockchain Intelligence Group Inc (CSE: BIGG)
(WKN: A2JSKG) (OTC: BBKCF) announce it had engaged Dr. Aaron Smith to establish
and lead BIG's Artificial Intelligence (AI) department.
Dr. Smith will contribute strategic
direction to identify areas most suited for the application and integration of
Artificial Intelligence throughout the BIG crypto-data analytics
infrastructure. He will also lead research and development of BIG's cognitive
systems and machine learning, augmenting and building BIG's proprietary tools
and specialized tracking algorithms for monitoring cryptocurrency transactions.
Lance Morginn, CEO of BIG, stated:
"Dr. Aaron Smith is an expert and innovator in the field of analytics,
Artificial Intelligence and cognitive systems design. Dr. Smith brings a wealth
of knowledge and the applied experience of a practiced Data Scientist to
strategically incorporate AI into the BIG framework. As the leaders in the monitoring
and tracking of cryptocurrency, this strategic hire enables Blockchain
Intelligence Group AI to create a suite of intelligent analytics products which
would be unparalleled and at the edge of innovation in the blockchain
cryptocurrency analytics space. By integrating AI into our technology we will
continue to be seen as the financial regulatory technology
("Regtech") standard."
One of the largest and most well-known
Canadian blockchain stocks, BTL GROUP
LTD. (TSX
VENTURE: BTL)
grabbed attention in October when it announced that it has filed patents on its
enterprise blockchain platform Interbit™. Interbit is a third generation
blockchain platform with unique 'connecting' capability developed by BTL after
it became apparent that second generation blockchains would not scale to meet
enterprise demands as the technology matures. BTL confirmed through
pre-commercial and confidential beta testing that its Interbit platform
consistently exceeds customers' requirements in many sectors, including finance
and energy.
"Interbit now has the capacity to
operate and inter-connect many thousands of Interbit blockchains per server in
a secure, private, and scalable manner. We realized very quickly that single
blockchain solutions such as current generation two offerings would not allow
blockchain technology to fully realize its transformative capabilities in the
years ahead - we needed Interbit to scale far beyond what already exists in the
blockchain space. Our new capabilities clearly define what generation three
blockchains are capable of," said Tom Thompson, CTO of BTL. "During
our successful pilots we have proven Interbit's privacy and scalability
capabilities, securing it as a recognized enterprise grade blockchain platform.
Interbit has also been designed for ease of use by customers, allowing it to be
integrated into existing IT infrastructure in a quick and simple manner, not
seen before in our industry."
In November the company announced a financing/offering
with gross proceeds of approximately C$10.7 million.
*For
investors trying to understand what blockchain technology is and how it
differentiates from bitcoin, IBM for Dummies explains, “Blockchain is
a shared, distributed ledger that facilitates the process of recording
transactions and tracking assets in a business network. An asset can be
tangible — a house, a car, cash, land — or intangible like intellectual
property, such as patents, copyrights, or branding. Virtually anything of value
can be tracked and traded on a blockchain network, reducing risk and cutting
costs for all involved.
Bitcoin
is actually built on the foundation of blockchain, which serves as bitcoin’s
shared ledger. Think of blockchain as an operating system, such as Microsoft
Windows or MacOS, and bitcoin
as
only one of the many applications that can be run on that operating system.
Blockchain provides the means for recording bitcoin transactions — the shared
ledger — but this shared ledger can be used to record any transaction and track
the movement of any asset whether tangible, intangible, or digital. For example,
blockchain enables securities to be settled in minutes instead of days. It can
also be used to help companies manage the flow of goods and related payments,
or enable manufacturers to share production logs with original equipment
manufacturers (OEMs) and regulators to reduce product recalls.
The
takeaway lesson: Bitcoin and blockchain
are not the same. Blockchain provides the means to record and store bitcoin
transactions, but blockchain has many uses beyond bitcoin. Bitcoin is only the
first use case for blockchain.”
For a list of blockchain stocks visit:
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