Blockchain Infusion in Mobile Payment Solutions to Substantially Improve More Secure and Seamless Payment Transactions
PALM BEACH, Florida, January 23, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
It was inevitable that the mobile payment landscape would be significant influenced by the rise of blockchain technologies and cryptocurrencies, and mobile pay companies in the industry are making headlines through the acquisition of blockchain platforms in order to strengthen their overall platforms. There is a rising need for new applications or products in a fast-growing market for a secure device or platform that can simplify the use of cryptocurrency across multiple applications. As a growing number of consumers are demanding those devices and applications to become mainstream, companies are racing to develop innovative solutions that allow the user to seamlessly convert between different currencies across different mobile devices and platforms. Experts are forecasting strong growth for the mobile payment industry moving forward and as the numbers continue to rise steadily, the infusion of blockchain technologies will only become more frequent as the demand for robust and secure applications grows quickly. Active in blockchain market today includes: Social Play USA, Inc. (OTC: SPLY), Glance Technologies (OTC: GLNNF) (CSE: GET), International Business Machines Corporation (NYSE: IBM), Global Blockchain Technologies Corporation (TSX-V: BLOC.V) (OTC: BLKCF), Cisco Systems Inc. (NASDAQ: CSCO).
Social Play USA, Inc. (OTC: SPLY), announces that it is finalizing negotiations to acquire Spot And Pay Inc. (http://www.spotandpay.com ) and its Spot&Pay Mobile Payment Platform. Details of the agreement, which is subject to approval by the board of directors of each company, will be announced in the coming weeks.
SocialPlay identified Spot&Pay as an acquisition target due to its unique mobile payment application that is used in connection with third party QR codes that have been generated for specific uses; i.e. individual consumer products, specific services or group of services offered to the general public, B2B product and service offerings, monetary donations to charitable organizations, and quick and easy bill payments on recurring monthly accounts. Read this and more news for Social Play USA, Inc. at: http://www.marketnewsupdates.com/news/sply.html
The Company's software development plan has evolved to include a substantially more robust proprietary platform wallet feature that will allow users to create their own wallet so that they may buy and sell bitcoin and other cryptocurrencies directly from the Spot&Pay platform. It also provides seamless abilities to transfer money within the Spot&Pay user network instantly from one account to another without any processing delays.
As part of its strategy going forward, SocialPlay will focus significant development efforts on the integration of cryptocurrency and blockchain technologies into its product offerings. The Company believes that the future of financial transactions will be in the mobile space, and the security of these types of financial transactions will rely on blockchain verification and its unique, decentralized ledger. Distributed blockchain ledgers provide a highly secure identity verification and authentication methodology of user data, resulting in the most secure platform for users to initiate and complete financial transactions. In addition to developing its own proprietary blockchain technology, the Company will also seek to acquire existing, complementary blockchain technologies.
In other industry developments and stock performance of note in the markets:
Glance Technologies Inc. (OTC: GLNNF) (CSE: GET.CN) announced it has agreed to grant Fobi Pay Technologies Inc., a non-exclusive license to use the Glance Pay mobile payment, security, anti-fraud and Glance Coin blockchain technology for a $5 million fee for a one year initial term, renewable annually for $10,000 per year."Fobi Pay will offer big data analytics for networks of related businesses. Our value prop is in merging purchase basket and historical data with social media and mobile data to create highly personalized customer journeys," says Rob Anson, CEO of Fobi Pay. "By licensing the Glance technology we will be able to offer a closed loop digital media and mobile strategy for our industry partners."
International Business Machines Corporation (NYSE: IBM), in an article published by ComputerWorld.com, is in the mobile payments industry when it unveiled a cross-border blockchain payments service with a Polynesian payments system provider designed to improve efficiency and reduce the cost of making global payments for business and consumers. The new payment network uses IBM's Blockchain Platform, a cloud service, to enable the electronic exchange of 12 different currencies across Pacific Islands as well as Australia, New Zealand and the United Kingdom. The new IBM-based service is designed to improve efficiency and reduce the cost of making global payments for business and consumers, and for Klickex and Stellar.org, developing nations
Global Blockchain Technologies Corporation (TSX-V: BLOC.V) (OTC: BLKCF) announced last week that Overstock.com's blockchain subsidiary, 0.com, Inc. ("tZero") intends to provide advisory services in connection with the recently announced KodakOne Coin Security Token Offering. In addition, tZero will advise on secondary trading of the Kodak Coin. This is the first third party coin to be announced that tZero will be listing and trading on its much anticipated regulated ICO exchange. Utilizing blockchain technology, the KodakOne platform is an encrypted, digital ledger of rights ownership for photographers to register both new and archived work that they can then license within the platform. With the Kodak Coin, participating photographers are invited to take part in a new economy for photography, receive payment for licensing their work immediately upon sale, receive a share of overall platform revenue, and for both professional and amateur photographers, sell their work confidently on a secure blockchain platform.
Cisco Systems Inc. (NASDAQ: CSCO) is in the industry as the company released information last year it had co-founded the Trusted IoT Alliance, a consortium of 17 companies to help establish a protocol for a blockchain-based Internet of Things (IoT). The mission of this new alliance is to set the standard for an open source blockchain protocol in major industries worldwide. In retail, IoT simply describes the network of systems, sensors, wireless, software, and other technologies that enable digitization of the store. In practical terms, it's the network that you already have, but better connected to help you take the next step in growing your business. The alliance will also work to create a roadmap powered by the IoT ecosystem.
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