Blockchain Evolution Transforming Growing Number of Industries Putting it on a Trajectory of its Own
PALM BEACH, Florida, January 22, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
A growing number of companies in the blockchain arena have increasingly become focused on ways to harness the technology for a long and growing list of other purposes in private industry. These begin with financial services, e-commerce, energy, as well digital media, pharmaceuticals, cybersecurity and transportation and even mobile gaming. According to a report published by Research and Markets , the blockchain market is expected to grow from USD $411.5 Million in 2017 to USD $7,683.7 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 79.6%. The demand for distributed ledger technology, reduced total cost of ownership, rising cryptocurrencies market cap and initial coin offerings, increasing demand for simplified business processes, transparency and immutability, faster transactions, and Blockchain-as-a-Service are said to fuel the growth of this market. Active Companies in the markets this week include: Tapinator, Inc. (OTC: TAPM), Eastman Kodak Company (NYSE: KODK), Marathon Patent Group, Inc. (NASDAQ: MARA), Riot Blockchain, Inc. (NASDAQ: RIOT), India Globalization Capital, Inc. (NYSE:IGC).
Tapinator, Inc. (OTCQB: TAPM), a leading developer and publisher of mobile games on the iOS, Google Play, Amazon, and Ethereum platforms, today announces that it is sponsoring and will speak on a panel at leading blockchain conference, ETH Denver on February 17th. The panel will focus on the intersection of blockchain & gaming and the Company will announce it first blockchain product, which will be released by Tapinator's subsidiary, Revolution Blockchain, in Q2 of this year.
"We are very excited to attend and present at one of the industry's top blockchain conferences. We believe that gaming is one of the most exciting verticals for blockchain technology and we look forward to sharing more information about our first product on February 17th," commented Ilya Nikolayev, CEO of Tapinator. Read this and more news for Tapinator at: http://www.marketnewsupdates.com/news/tapm.html
ETH Denver, along with its sister events, has over 2,500 people registered to participate in its events. The conference and hackathon focuses on emerging blockchain technologies (like Ethereum), which its organizers believe "could bring about the most significant technological and social advancements since the advent of the internet." Notable ETH Denver sponsors, in addition to Tapinator, include Thiel Fellowship, CryptoKitties and MetaMask.
In other industry developments from around the markets:
Eastman Kodak Company (NYSE: KODK) and WENN Digital, in a licensing partnership, recently announced the launch of the KODAKOne image rights management platform and KODAKCoin, a photo-centric cryptocurrency to empower photographers and agencies to take greater control in image rights management. Utilizing blockchain technology, the KODAKOne platform will create an encrypted, digital ledger of rights ownership for photographers to register both new and archive work that they can then license within the platform. With KODAKCoin, participating photographers are invited to take part in a new economy for photography, receive payment for licensing their work immediately upon sale, and for both professional and amateur photographers, sell their work confidently on a secure blockchain platform.
Marathon Patent Group, Inc. (NASDAQ: MARA), last week announced that it has entered into a purchase agreement to acquire four patents related to the transmission and exchange of cryptocurrencies between buyers and sellers. Merrick Okamoto, Marathon's Interim Chief Executive Officer stated, "Given our proficiency in identifying and acquiring important intellectual property, we believe that these patents afford us a unique and leverageable position, in addition to complementing our efforts as we enter into the digital asset and cryptocurrency business."
Riot Blockchain, Inc. (NASDAQ: RIOT) late last week announced that it has submitted the required registration items to attempt to participate in the U.S. Marshals Service sealed bid auction of bitcoins. The required registration items included the bidder registration form and a $200,000 deposit. The blockchain is a decentralized and encrypted ledger that offers a secure, efficient, verifiable and permanent way of storing records and other information without the need for intermediaries. These protocols are the backbone of numerous digital currencies, including Bitcoin, Ethereum and Litecoin. Blockchain protocols have a wide range of use, including processing transactions, accounting, verification and proof of ownership across a far-reaching spectrum of applications.
India Globalization Capital, Inc. (NYSE:IGC), in late December announced that it will leverage its existing team of technology and healthcare experts to develop methods utilizing blockchain in areas such as product identification assurance (PIA). According to a recent study that was published in JAMA and detailed on http://www.pennmedicine.org, nearly 70% of all cannabidiol products sold online are either over or under labeled. "We understand the unique challenges facing the cannabis industry and believe that our team has the expertise to be the first to create meaningful solutions to address these issues using distributed ledgers inherent in blockchain technology. As we work to develop blockchain in the rollout of Hyalolex, our goal would be to establish a universal cannabis platform applicable to solving multiple industry challenges facing dispensaries and consumers. This would include addressing issues such as transactional difficulties, inadequate product labeling, product identification assurance (PIA) and product origin assurance," stated Ram Mukunda, CEO.
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