POINT ROBERTS, Wash. and DELTA, British Columbia, Feb. 21, 2019 (GLOBE NEWSWIRE) — Investorideas.com, a global investor news source covering blockchain and cryptocurrency issues a special edition of the Crypto Corner looking at the recent run in cryptocurrencies and blockchain stocks following recent news of the JPM Coin.
With a heart-stopping 180o turn on February 14th, J.P. Morgan became the first US bank to create and successfully test a digital coin representing a fiat currency. The JPM Coin will use blockchain-based technology, enabling the instantaneous transfer of payments between institutional accounts.
Adding fuel to the fire, in a recent interview at the IBM Think 2019 conference, Jesse Lund (VP of Blockchain and Digital Currencies for IBM) said IBM has several “letters of intent” with major banks to release digital currencies.
From finance to supply chain, healthcare, real estate, smart contracts, IoT and more, the applications for blockchain ledger technology seem endless.
Blockchaintechnologies.com recently reported, “Huge tech companies like IBM have already seen the potential for blockchain supply chain management and have web 3.0 solutions in development or pilot program stages.”
Litelink Technologies Inc. (CSE: LLT) (OTC: LLNKF) is also aiming to take logistics to a whole new level. “Our platforms use the power of blockchain, artificial intelligence and the rich features in the Amazon Cloud to change the way the world works in logistics, digital wallets & payment solutions.”
Litelink’s Shift product uses blockchain to track shipments, handle invoicing, payments and reviews and ratings. For audit and dispute resolution, their blockchain tech records the time and location of arrival at the location/gate and dock via GPS location data, records the receipt of the signed BOL, as well as runs AI algorithms to determine whether there are any exception conditions present at delivery. The proprietary Adversarial Permissioned Blockchain platform, based on JP Morgan’s platform, can also provide an early warning for potential future disputes, allowing the parties to proactively seek solutions rather than pointing fingers later.
Hive Blockchain Technologies Ltd. (TSXV:HIVE.V) (OTCQX:HVBTF) just announced up-listing to the OTCQX. “Upgrading to the OTCQX is an important event for the Company,” said Frank Holmes, Interim Executive Chairman. “The OTCQX equips HIVE with better liquidity and exposure for existing and future US investors as we continue our long-term strategy to enhance shareholder value. HIVE is an industry leader among publicly traded blockchain infrastructure companies and trading on OTCQX in the US provides investors with an opportunity to participate in the long-term potential of blockchain and to invest in a stock that is highly correlated to the price movements of cryptocurrencies like Bitcoin and Ethereum.”
Galaxy Digital Holdings Ltd. (TSXV: GLXY), a diversified asset management firm dedicated to the digital assets and blockchain technology industry recently reported preliminary assets under management of $416.5 million as of January 31, 2019, inclusive of committed capital in a closed-end vehicle.
The Company says, “Our mission is to stand behind companies that we believe will be successful in helping to accelerate and promote the institutional adoption of blockchain technology and digital assets.”
Riot Blockchain, Inc. (NasdaqCM:RIOT), a company that says its focus is on Bitcoin and general blockchain technology has been one of the biggest movers in the recent run. Trying to regain investor confidence, earlier this month the company announced its Board of Directors is implementing leadership and governance structure changes. Jeff McGonegal is being named Chief Executive Officer, replacing departing Chris Ensey, who had joined the Company in January 2018 as its Chief Operating Officer and had been appointed interim Chief Executive Officer, in September 2018. Jeffrey Vormittag, Chief Operating Officer of the Company’s subsidiary, Riot Blockchain Canada Inc. will also be leaving the company.
“Riot Blockchain’s Board of Directors is very focused on delivering value for the Company’s shareholders and believes that a new streamlined leadership structure is critical to achieving success, while also achieving cost reductions.”
It appears the recent complacency in the sector has shifted to a new sense of optimism and for now, the trend is the friend in blockchain stocks.
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