Shifting Data Storage Trends are Increasing Blockchain's Value

PALM BEACH, Florida, July 10, 2018 /PRNewswire/ --

According to a report published by International Data Corporation, spending on blockchain solutions has reached USD 945 Million in 2017 and is expected to reach USD 9.7 Billion by 2021, while at a five-year compound annual growth rate of 81.2%. The rapid adoption of blockchain technology in various industries continues to drive investments in blockchain. The United States is expected to see the largest investments in the technology, followed by Western Europe, China and the Asia/Pacific regions. Industries such as financial services, manufacturing and distribution sectors are expected to receive the most funding during the forecast period. Shineco Inc. (NASDAQ: TYHT), Overstock.com Inc. (NASDAQ: OSTK), Bitcoin Investment Trust (OTC: GBTC), Riot Blockchain Inc. (NASDAQ: RIOT), ChinaNet Online Holdings Inc. (NASDAQ: CNET)

Bill Fearnley, Jr., Research Director of Worldwide Blockchain Strategies, said, "Interest and investment in blockchain and distributed ledger technology (DLT) is accelerating as enterprises aggregate data into secure, sequential, and immutable blockchain ledgers, transforming their businesses and operations. Many technology vendors and service providers are collaborating and working with consortiums such as the Enterprise Ethereum Alliance and the Hyperledger Projects to develop innovative solutions that improve processes such as post-trade processing, tracking and tracing shipments in the supply chain, and transaction records for auditing and compliance. Also, multiple regulators and central banks have made positive comments about blockchain and DLT and this will help to accelerate demand in regulated industries such as financial services and healthcare."

Shineco Inc. (NASDAQ: TYHT) yesterday announced breaking news, "its plan for a strategic investment in Hash Bank, an integrated cryptocurrency financial services platform aiming at becoming the first cryptocurrency bank in the world."

The Company has entered into an Equity Investment Letter of Intent ("LOT") with Hash Bank pursuant to which, Shineco, as an investor in the latest round of investment of RMB 40 Million, plans to acquire a 5% ownership stake in Hash Bank for a purchase price of RMB 10 Million (approximately USD 1.5 Million).

Mr. Yuying Zhang, the Chairman and CEO of Shineco, stated that, "The Company has focused on entering the blockchain field since the beginning of this year. This strategic investment in Hash Bank has launched a new journey for the Company's application of blockchain technology. We hope Shineco will enter the global Apocynum industry chain with this cooperation with Hash Bank, integrating resources in its Apocynum growing and processing regions, and increasing the intensity of R&D and innovation, gradually introducing blockchain technology into the Apocynum industry chain. We expect that Shineco would benefit from reduced costs, improved efficiency, a more optimized collaborative environment, and the creation of a new industry ecosystem."

Mr. ZhaicaiSu, the Co-founder of Hash Bank, commented, "Hash Bank is an integrated financial services platform offers depositary services to multiple and various cryptocurrency tokens, tokenized bonds, fund wealth management, investment banking services, and other financial services. Hash Bank's multi-national team is composed of experts with international perspectives and deep financial expertise. We believe that with the development of the cryptocurrency market, digital financial opportunities will increasingly emerge. Through the POS (Proof of Stake) consensus mechanism, we expect to provide financial services for digital assets to promote the establishment and evolution of the global digital financial ecosystem, making the global financial system balanced and safe through blockchain technology. Meanwhile, building a platform for the top global investors, provides Shineco with the perfect services of investment and financing, entrepreneurship and innovation, assisting Shineco with entering the express lane of the blockchain revolution."

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. Overstock's subsidiary, tZero, the global leader in blockchain innovation for capital markets, announced that it has signed a letter of intent with GSR Capital for a purchase of USD 160 Million in tZERO Security Tokens at a price of USD 10.00 per token, pursuant to the Simple Agreement for Future Equity. To accommodate the investment from GSR, tZERO's Security Token Offering has been extended until August 6th, 2018. In addition to the investment from GSR, as of June 28th, 2018, tZERO has entered into executed SAFEs in excess of USD 168 Million for Security Tokens, of which over USD 95 Million has been already funded. Holders of unfunded SAFEs will be able to fund those SAFEs on a first-come, first-serve basis until the STO is completed. Approximately 1,000 people from 30 countries participated in the token sale. "I want to thank our strategic investors again for their continued support, as well as the tZERO team for their ingenuity in making a preferred equity security token possible," said Patrick M. Byrne, Overstock.com Founder and Chief Executive Officer, and Executive Chairman of tZERO.

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. It enables investors to gain exposure to the price movement of bitcoin without the challenge of buying, storing, and safekeeping bitcoins. The BIT's sponsor is Grayscale Investments, a wholly-owned subsidiary of Digital Currency Group. The Company recently launched an online resource library for institutional and individual investors. The new website, called "Insights," will showcase Grayscale's content and analysis to help investors make more informed digital asset investing decisions. In conjunction with the launch of Insights, Grayscale published "A New Frontier: How Digital Assets are Reshaping Asset Allocation." This paper demonstrates that digital currencies may enhance strategic asset allocation and help investors build diversified portfolios with higher risk-adjusted returns. "There is tremendous appetite in the investor community for better information and clarity around digital currency investing," said Michael Sonnenshein, Managing Director of Grayscale. "We are trying to demystify this market by offering clear-eyed analysis that demonstrates how digital currencies, when sized appropriately, may fit into a traditional investment portfolio."

Riot Blockchain Inc. (NASDAQ: RIOT) is focused on building, supporting, and operating Blockchain technologies, primarily through its cryptocurrency mining operations and other internally developed businesses, as well as joint ventures, acquisitions, and targeted investments in the sector. The Company recently announced its unaudited cryptocurrency mining production yield for the month of June 2018. The Company produced approximately 117 Bitcoins during June, including the BCash that was mined and converted to Bitcoin throughout the month. The Company also produced approximately 290 Litecoins. The June production brings the Company's total unaudited yield for the 2nd quarter to 348 Bitcoins (including converted BCash) and 318 Litecoins. Riot utilized a daily average of approximately 6,236 cryptocurrency ASIC miners during the month of June. The Company presently has about 8,000 cryptocurrency ASIC miners deployed utilizing approximately 11.5MW of energy capacity. Additional environmental optimizations are being completed that will enable its miners to operate at their optimal hash rates. The Company intends to release the yield from its mining operation on a quarterly basis moving forward.

ChinaNet Online Holdings Inc. (NASDAQ: CNET) is an integrated online advertising, precision marketing and data-analysis and management services platform. The Company recently announced the formation of its closed loop Business Opportunity Social Ecosystem (BOSE), a blockchain-powered marketing and advertising transaction system. BOSE is developed on the Company's Business Opportunity Chain as a network that integrates the Company's existing marketing and advertising infrastructures with its blockchain-powered business opportunity transaction platforms such as BOH. The network is designed to address the problems that occur in modern advertising and marketing activities such as the fair distribution and monetization of business opportunities. Mr. Handong Cheng, Chairman, and Chief Executive Officer of CNET, commented, "We are excited to introduce the concept of BOSE, which marks an important milestone in our path to create a secure and transparent transaction environment for our users. This is achieved by utilizing our strong research and development capabilities to implement blockchain technologies such as the distributed ledger technology and cryptographic hash functions. These were the core technologies upon which we developed the first blockchain-powered mobile application called Business Opportunity Headline, or BOH, in the ecosystem."

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