Global Blockchain Market Grows as Financial Organizations Adopt the Technology

NEW YORK, September 14, 2018 /PRNewswire/ --

According to a report published by Transparency Market Research, the global blockchain technology market is expected to reach USD 20 Billion by 2025 while growing at a compound annual growth rate (CAGR) of 58.7%. Blockchain technology provides more efficiencies for the various industries, especially in the banking sector. Financial organizations adopt blockchain technology to make transactions more transparent and easier to process. The new technology also helps reduce frauds due to errors, identity theft and offer more safety to the transaction processing as a whole. Blockchain technology has the potential to benefit other industries such as retail, healthcare and supply chain by providing easy access and exchange of digital data. Victory Square Technologies Inc. (OTC: VSQTF), Overstock.com, Inc. (NASDAQ: OSTK), Bitcoin Investment Trust (OTC: GBTC), Banco Santander, S.A. (NYSE: SAN), Xunlei Limited (NASDAQ: XNET)

According to a report released by the World Economic Forum and Bain & Company, the trade finance gap was valued at USD 1.5 Trillion in 2017 and is expected to increase to more than USD 2.4 Trillion by 2025. The report indicated that the distributed ledger technology and other new digital technologies can ease a large part of the gap by facilitating about USD 1.1 Trillion of new trade volumes globally. The increasing adoption of blockchain in trade processes helps dismantle financing barriers for small and medium-sized enterprises (SMEs) and emerging markets.

Victory Square Technologies Inc. (OTCQX: VSQTF) is also listed on the Canadian Securities Exchange under the ticker (CSE: VST). Earlier last week, the Company announced breaking news that, "one of its portfolio companies, PayVida Solutions Inc. ("PayVida"), an emerging global payment processor and card issuer, has become the exclusive partner and preferred vendor of British Columbia's Alliance of Beverage Licensees ("ABLE BC").

ABLE BC is the united voice of and a powerful advocate for British Columbia's private liquor industry. Its 1000+ members include private liquor stores, pubs, bars, nightclubs and hotel liquor licensees.

'ABLE BC selected PayVida over other merchant service providers because of its instant application approval process and innovative payment technology,' said PayVida CEO Ryan Strauss. 'We anticipate reducing transaction costs for our members, while growing our membership base through our new partnership.'

PayVida's partnership with ABLE BC creates a direct channel into a network of BC's private hotels and pubs. ABLE BC's Executive Director Jeff Guignard recently completed a 10,000 kilometre, 20 city, 250 liquor licensee tour of BC. Discussions included recent and pending changes to BC's liquor policies and the emerging licensing framework for cannabis retail stores.

'PayVida is more than a payment processing company,' said Guignard. 'This is an opportunity for us to collaborate with an innovative financial technology company, giving our members point-of-sale integrations and same day funding.'

B.C. currently has 670 private liquor stores and 195 government locations, generating over $3 billion of alcohol sales and several billion dollars of indirect economic activity. (Source: https://ablebc.ca/wp-content/uploads/2018/04/Member-Handbook-Updated-April-2018.pdf )

'ABLE BC is a hub to 1,000 thriving businesses that understand the importance and the power of a highly scalable FinTech and payment processing solution to accelerate their business growth. After reviewing other competitors, ABLE selected PayVida to partner with because of the value they place on leading solutions in the payments industry,' said Victory Square Technologies CEO Shafin Diamond Tejani.

Tejani continued, 'PayVida is helping to innovate the FinTech community and Victory Square remains confident that they will continue to make significant strides in this industry and stands fully ready to help support and fuel their growth.'

About Victory Square Technologies Inc. - Victory Square Technologies is an emerging technology accelerator. Victory Square portfolio companies are using blockchain, machine learning, artificial intelligence, and virtual and augmented reality to disrupt established technology and create completely new industries. Victory Square has a proven process for identifying game-changing entrepreneurs and providing them with the partners, mentorship and support necessary to accelerate their growth and help them scale globally."

Overstock.com, Inc. (NASDAQ: OSTK) 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. The Company recently released the following information in response to a number of shareholder questions related to the Company's recently announced GSR Capital investment term sheets and recent 8-K filing. Overstock.com is working on exciting opportunities that will disrupt a number of industries. Partnership with GSR Capital and other strategic investors will provide Overstock the capital and market access needed to create a global market for tokenized securities. Furthermore, Overstock is pleased with its plans to scale globally with GSR Capital and expects its current capital to adequately serve present operating needs for the retail business, Medici Ventures, and tZERO over the coming year. Medici Ventures is a wholly owned subsidiary of Overstock.com, Inc., created to leverage blockchain technology to solve real-world problems with transparent, efficient and secure solutions. Medici Ventures has a growing portfolio of groundbreaking blockchain-focused investments, including tZERO, Peernova, Bitt, SettleMint, Factom, and IdentityMind, Spera and Symbiont.

Bitcoin Investment Trust (OTCQX: GBTC) is a private, open-ended trust that is invested exclusively in bitcoin and derives its value solely from the price of bitcoin. The BIT's sponsor is Grayscale Investments, a wholly-owned subsidiary of Digital Currency Group. Grayscale Investments, LLC recently announced the launch of Zen Investment Trust, a single-asset investment vehicle solely comprised of ZEN, a privacy-focused digital currency. Zen Investment Trust is the eighth single-asset investment product introduced by Grayscale, and the first security solely invested in ZEN. In addition to its single-asset products, Grayscale also manages Digital Large Cap Fund™, a diversified investment product that provides exposure to the top digital currencies by market cap. "We've been very impressed with the Horizen team and its vision for ZEN as a leading privacy coin," said Michael Sonnenshein, Managing Director of Grayscale. "Grayscale is at the forefront of asset management in this emerging industry, and we will continue to offer our clients access to the most interesting blockchain projects in the world."

Banco Santander, S.A. (NYSE: SAN) is a leading retail and commercial bank, founded in 1857 and headquartered in Spain. Santander recently announced to re-brand its Polish affiliate, the branch network of Bank Zachodni WBK, as well as its customer service and banking channels and its web page and ATMs, changed to the Santander brand. The Polish affiliate of Santander is the third bank in Poland, with a market share of approximately 12%. The new brand projects a modern image of innovation and strength while maintaining the bank's local character and roots. The bank will maintain its current strategy in Poland with the aim to help people and businesses prosper and to be the best bank in Poland. Santander Bank Polska leads the digital transformation of the banking sector in Poland. It is part of the Santander One Pay FX project, the service that makes international transfers fast and agile using blockchain-based technology that Santander launched last April in four of its main markets. The Executive Chairman of Banco Santander, Ana Botín, said, "The Santander name has been recognized as a symbol of trust and credibility for over 160 years. Today the brand is known to millions of people across Europe and the Americas and represents the 'simple, personal and fair' values that lie at the heart of everything we do. Poland is one of our core markets and is a country with incredible talent and potential. We are extremely proud to serve 6.5 million customers here. The decision to introduce the Santander brand in Poland demonstrates how important the business is to the group, and reflects our commitment to helping people and businesses in Poland prosper."

Xunlei Limited (NASDAQ: XNET) is a leading cloud-based acceleration technology company in China. Xunlei operates a powerful internet platform in China based on cloud computing to provide users with quick and easy access to digital media content through its core products and services, Xunlei Accelerator and the cloud acceleration subscription services. Xunlei Limited recently announced that it has launched StellarCloud and ThunderChain Open Platform to build a blockchain ecosystem in a product introduction ceremony held in Beijing on May 16^th, 2018. Mr. Lei Chen, Chief Executive Officer of Xunlei, stated, "Incentive and trust are two main issues facing not only shared computing, but also every sharing economy model in today's digital age. The emergence of blockchain technology - featuring immutability, openness and fairness - provides efficient solutions to some of the pressing problems we encounter today. With Xunlei's blockchain infrastructure, strong developer support and a million-user ecosystem, we believe developers and companies can create practical applications and solutions that really benefit end users in the era of Blockchain 3.0."

Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia 
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz 
Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz 
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For Victory Square Technologies Inc. financial news dissemination and PR services, FinancialBuzz.com has been compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.

For further information:
info@financialbuzz.com
+1-877-601-1879

Url: http://www.FinancialBuzz.com

SOURCE FinancialBuzz.com