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MarketNewsUpdates.com News Commentary
PALM BEACH, Florida, September 27, 2017 /PRNewswire/ --
The blockchain has proven to be an ingenious invention. The innovation of permitting digital information to be distributed but not copied, blockchain technology is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value. Active companies in the markets today include: NovaTeqni Corporation (OTC: NVTQF) (TSX-V: NTQ), HIVE Blockchain Technologies LT (TSX-V: HIVE), BTL Group Ltd (TSX-V: BTL) (OTC: BTLLF), Bitcoin Services, Inc. (OTC: BTSC), MGT Capital Investments, Inc. (OTC: MGTI)
NovaTeqni Corporation (OTCQB: NVTQF) (TSX-V: NTQ.V) is pleased to update shareholders with the activities of the Company over the last few months. The previously announced Mobizent deal is being fulfilled with testing of MobiCONNECT and development of the biometrics enabled mobile MobiCHK II computer is in full progress. Both products are aimed at the law enforcement sector in the United States and elsewhere.
NovaTeqni has also progressed its range of Pre-paid off Grid Solar Power Packs for homes and small businesses. The Nova Solar Power Systems have online data connectivity allowing easy pay-as-you-go top up and telemetry for efficient remote support. This makes the purchase cost much lower for home owners who then pay for electricity as and when it is required on a pay-as-you-go basis. The cost effective system will be especially useful in areas such as Africa where many millions of homes in rural areas and small towns have no grid connected power. It is anticipated that a micro credit facility will allow users to obtain power on credit in certain cases, this is a feature able to be provided via the online connectivity of the system. The small business system is able to provide power to small businesses, schools, clinics, etc. These systems will be able to power a DC operated water filter system as well as a fridge, TV with satellite receiver, lights and small computers. This sector is receiving considerable investment attention. NovaTeqni has to date supplied close to 10,000 of its low power solar power kits to entities including the United Nations (UN).
Additionally, the company has been reviewing blockchain technologies that would be synergistic to Novateqni's existing business verticals. The markets for blockchain can be anywhere from biometrics based payments and secure money transfer to voter registration, voting and voter verification. It is also potentially useful for pre payments for utilities and services.
Gerhard Mynhardt, CEO of Novateqni stated, "We are very pleased to be completing the work for Mobizent and the team is working hard on growing our presence in our areas of expertise."
In other industry news and market performance of note:
HIVE Blockchain Technologies LT (TSX-V: HIVE) annouced recently it has entered into an agreement with a syndicate of underwriters led by GMP Securities LP, pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 20 million common shares of the company at a price of $1.50 per share, for aggregate gross proceeds of $30-million. The president's list is expected to make up 25 per cent of the purchase. In connection with the offering, the company may pay a cash fee of up to 6 per cent of the gross proceeds of the offering, payable at closing. The offering will take place by way of a private placement to accredited investors in such provinces of Canada as the underwriters may designate, and otherwise in those jurisdictions where the offering can lawfully be made on a private placement basis. All shares issued under the offering will be subject to a four-month-and-one-day hold period from the date of issue in accordance with applicable securities laws in Canada, and potentially additional restrictions under the laws of other jurisdictions in which the offering may be made.
BTL Group Ltd (TSX-V: BTL) (OTC: BTLLF) announced last month the successful launch of the DX Beta version ("Beta") of its proprietary blockchain platform, Interbit. The Beta sets the goal of demonstrating the developer experience of interacting and building applications directly on Interbit and brings the platform one step closer to being launched in a live commercial environment. Beta is being distributed to a number of selected partners who will be providing critical feedback. "This is the first time BTL clients and partners have been able to put Interbit directly in the hands of their technical teams, rather than through BTL's development team, and marks a major milestone in Interbit's continued development," said Guy Halford-Thompson, BTL's CEO. "I would like to congratulate the entire development team on achieving this milestone, as well as the business teams who have supported them."
Bitcoin Services, Inc. (OTC: BTSC) are Internet based to the consumer and consist of two separate streams, bitcoin mining and blockchain software development. The company's principal products and services are the mining of bitcoins, and the development and sale of blockchain software. On August 10, 2017, the company announced that it launched a new corporate website. In addition, Bitcoin Services Inc. has created a new subsidiary Crypto Capital Corp that will develop a new Crypto currency wallet. The wallet will let users safely store multiple digital currencies in one wallet. Bitcoin Services Inc. would also like to congratulate all Bitcoin users for reaching a historic all-time high on August of 2017.
MGT Capital Investments, Inc. (OTCQB: MGTI) announced this month that it had increased its purchase order with Bitmain Technologies for an additional 500 S9 Antminer Mining rigs, with shipment expected in mid fourth quarter 2017. Following shipment and setup, and in conjunction with the Company's current rigs in operation, MGT's Bitcoin mining operations are expected to generate approximate $1.4 million in monthly revenue, assuming current pricing and difficulty rates. Factoring in electricity, hosting and other direct operating costs, EBITDA from the Company's Bitcoin mining operations is projected at $1.0 million per month, prior to amortization of notes payable.
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