Source for BlockChain News

Monthly archive

March 2014

Gartner Blockchain Study | 90% of Current Blockchains Obsolete By 2021

by
Gartner Blockchain Study

Gartner Blockchain Study

According to a study executed by Gartner, 90% of the blockchains in use today will be obsolete or need complete replacing in only a couple of years. The Gartner blockchain study doesn’t sound too good, but it’s not all bad news.

The Gartner Blockchain Study

Gartner’s study says the following:

“By 2021, 90% of current enterprise blockchain platform implementations will require replacement within 18 months to remain competitive, secure and avoid obsolescence.”

However, although the technology will need constant updating, the value it adds to regular business will be almost $200 billion by 2025. More impressive is how this figure is expected to soar to $3.1 trillion by 2030.

Fail by 2021

Gartner predicts that 90% of current enterprise blockchain uses will fail by 2021 due to a fragmented market and “unrealistic expectations.” 

However, as stated, those that do persist will potentially add trillions in value.

Adrian Lee, senior research director at Gartner, said the following on the matter:

“Blockchain platforms are emerging platforms and, at this point, nearly indistinguishable in some cases from core blockchain technology […] Many CIOs overestimate the capabilities and short-term benefits of blockchain as a technology to help them achieve their business goals.”

>> GlobalCoin: Facebook in Discussions with CFTC but Uncertainties Continue

Gartner Blockchain Study: Fragmented Systems

Currently, according to Lee, the market is made up of fragmented systems, and blockchain providers are “overlapping their offerings.” This will get worse before it gets better. Gartner goes on to say that existing blockchains will need replacing to remain secure and updated.

Traditional business, especially in the financial sector, is increasingly expanding its use of blockchain technology. When used correctly, blockchains offer a plethora of advantages. It is first class in terms of security measures and speed when considering the transferring of money and other important data.

Have the results of the Gartner blockchain study surprised you? Did you think that 90% of current blockchains will be obsolete in a few years? What are your thoughts on this?

Featured Image: DepositPhotos © sdecoret

If You Liked This Article Click To Share

Ripple Sells Over $250 Million in XRP in Q2 2019: What’s Next?

by
Ripple

Ripple

On July 24, Ripple Labs Inc., the company behind XRP, released its Q2 2019 report, which revealed that it had sold over $250 million in XRP in the quarter. The report outlines Ripple’s strategy of selling XRP going forward as well as focusing on establishing legit trading volume data.

Ripple Reports 48% Quarter-to-Quarter Increase in XRP Sales

In the first quarter of this year, Ripple sold $169.42 million worth of XRP, which means there was a 48% quarter-to-quarter sales increase for the second quarter. Going forward, the company intends to sell less of its XRP hoard despite drawing criticism regarding its large stash that it rarely sells. The company has noted that in the second quarter, it limited XRP sales because of inflated trading volumes and as a result Ripple Labs restricted institutional sales and also stopped programmatic sales.

In the second quarter, there was growth in direct institutional sales, which increased by around 73% from $61.9 million to around $107.9 million. Majority of the sales volumes was from programmatic sales, which increased from $107 million in Q1 to around $144.6 million in Q2.

>> Bitcoin Rises 5% Amidst Technical Rebound Signal

Ripple Funding XRP Developments through Partnerships

The released report also focused on Ripple’s XRP escrow activity in the second quarter. The company indicates that the escrow system is aimed at offering steady XRP supply, and in the quarter the company withdrew one billion XRP per month from escrow. Out of the three billion withdrawn, the company reportedly reinvested 2.1 billion into escrow contracts while the rest was used in funding XRP developments through incubator, Xpring, as well as RipleNet collaborations.

There was a 28% drop in Ripple’s trading volumes from $595 million to around $429.5 million, but this was a result of improved accounting and not a failure of the company’s business strategy. The company indicated that it shifted its benchmark for trading volumes, stating that it used CryptoCompare indices and data so that they can dispel the notion of inflated trading volumes.

Featured image: DepositPhotos © rastudio

If You Liked This Article Click To Share

NetCents Powers Purchase Potential with 40th Partner Agreement Signed

by

VANCOUVER, B.C., September 12, 2019 –  NetCents Technology Inc. (CSE:NC) (OTCQB:NTTCF) (Frankfurt: 26N) (“NetCents” or the “Company”). Canadian-based NetCents is unleashing payment freedom for cryptocurrency owners around the globe. Through its proprietary Merchant Gateway program, NetCents is winning the merchant share sign-up race and cementing its success as the seamless cryptocurrency processing payment model.

In the first 3 days of September, NetCents signed-up more merchants than the entire month of May, building on its average 95% month-over-month increases. Merchants are rewarding the Company for its seamless integration of cryptocurrency processing into their payment model, with benefits that include:

  1. new level of protocols to protect against fraud and identification theft;
  2. on the spot seamless conversion of crypto to fiat;
  3. lower transaction processing fees;
  4. merchant and staff training; and
  5. regulatory compliance.

“In our race to win market share, we need merchant share,” said Clayton Moore, Founder & CEO, NetCents Technology Inc. “We’re removing one of the industry’s largest pain points to advance both our technology and the industry.”

During 2019, NetCents’ merchants adopting the burgeoning financial services platform are from eCommerce, Travel & Tourism, and Financial industries, located in North America and Europe. Average merchant processing revenues range from CAD 1,000 and 200,000 monthly.

Creating a seamless and intuitive merchant terminal-enabled user experience for buying, selling and transacting with cryptocurrencies leads to consumer trust and adoption.  NetCents’ Merchant Gateway has compelling results with favourable monthly increases in transaction volume, average transaction value, processing volume, and new merchant sign-ups. Based on current pace, the company is projecting it will surpass a 2020 first calendar quarter with a CAD $2 million monthly processing volume.

About NetCents

NetCents Technology Inc. (CSE:NC) (OTCQB:NTTCF) (Frankfurt: 26N) (“NetCents” or the “Company”), the transactional hub for all cryptocurrency payments, equips forward-thinking businesses with the technology to seamlessly integrate cryptocurrency processing into their payment model without taking on the risk or volatility of the crypto market. NetCents Technology is registered as a Money Services Business (MSB) with FINTRAC.

For more information, please visit the corporate website at www.net-cents.com or contact Investor Relations at investor@net-cents.com

Cautionary Note Regarding Forward Looking Information

This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

Please visit the company’s website at www.net-cents.com. For a free report on NetCents Technology Inc. (CSE:NC) (OTCQB:NTTCF) visit microsmallcap.com

Please See Disclaimer

LiteLink Technologies Issues Letter to Shareholders

by

VANCOUVER, British Columbia, Dec. 02, 2019 (GLOBE NEWSWIRE) — LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT)(OTC:LLNKF)(FRA:C0B), a key player in logistics platforms and payment solutions, is pleased to provide the following letter to shareholders from LiteLink Chief Executive Officer Ashik Karim.

Dear Shareholders,

It is my honor to write my first letter to you as chief executive of LiteLink Technologies Inc. (LiteLink), following a year of innovation, market expansion and exciting growth. We are staying true to our mission and core values that we have built at LiteLink over the past 18 months. 2019 was a building period both from a products and customer trust perspective, with many intentional and impactful moves. We navigated through two major industries experiencing profound disruption in business behavior. 

1SHIFT in 2019 — Learning, Development, & Deployment

We continue to see trucking and carrier fleets shut down faster than any year before. Yet in the face of such headwinds, we continue to gain momentum and global interest in our logistics platform. With global costs of logistics getting squeezed down to maintain survival, the LiteLink 1SHIFT logistics brand continues to resonate with trial and commercial customers.

Fiscal 2019 also was an inflection point in our journey to discover on product development, product market fit, and our ability to extend our product offering across Canada, U.S. and Latin America. We have recently made acquisitions that have filled significant market holes in the logistics sector that we discovered during our journey this year, and we are excited to accelerate and move from market fit analysis to growth in the coming year. There is no question that our future growth plans focus on disruption in IOT hardware and sensors, technology, market value, and market differentiators.

With the 1SHIFT Logistics platform commercialization being our core focus at LiteLink, we have learned from the market, understood pricing fit, and trialed with real customers across North America with success. We are now rolling out the final stages of a subscription model that will allow customers to enter credit card information and activate their account all in a self service, streamlined model that will require little to no customer support from our end. In anticipation of growth in 2020, we have also enabled a full remote customer support tech support solution, that allows us to take control of any device to troubleshoot any customer from the comfort of our BC-based office.

1SHIFT in 2020 — Expansion & Growth

Our focus in 2020 is to increase revenue, market adoption, and integration into market leading logistics platforms that already have major customer bases to accelerate our growth. With uBUCK (to be discussed further down), our focus is country by country roll-out of our technology to gain mass adoption one customer at a time.

We have made critical announcements in 2019 to support our growth into 2020 that include the rollout of our core market offerings in logistics within the nursery, produce and route optimization areas. Following those roll-outs, LiteLink secured a partnership with Pommes-Ma-Gic, a 100 year old produce company out of Quebec not only as a customer, but a strategic growth partner to support our Canadian market penetration. Moreover, we have also secured Brookdale Nurseries, one of Canada’s largest nurseries that supplies Costco, Home Depot and other large retailers with Christmas trees and other live-tree products. We have expanded our sales team from 0 to 4 core members responsible for geographical territories, which has generated leads, trials and customers that will be an integral part of our growth in 2020. In the IoT connected devices industry, we have also made headway of finalizing two of our own hardware device types that will add real-time visibility to the logistics industry that will be rolling out early 2020 with its own subscription model.

uBUCK — Leveraging a Growth Market

With our majority owned subsidiary uBUCK Technologies SEZC, we solidified both our mission and product fit, and most importantly our strategic service providers and rates to ensure our market launch remains market competitive in the digital remittance and debit card issuance business. We focused on building out our digital mobile wallet with simplicity, adaptability and profitability. With geographical analysis, regulation and compliance fit, this journey did take more time than we anticipated, however, rest assured, our intention is to launch uBUCK this year having mitigated risks inherent to a highly regulated business sector. One of our critical growth factors announced this year was our strategic commercial agreement with Deltec Bank that solidified our first commercialization, validating our unique offering that financial institutions can see value in. We announced $400,000 USD in private funding for the entity that owns uBUCK, at a $25 million valuation, which LiteLink will continue to own a majority stake in. We will continue to push commercializing uBUCK payments for the rest of 2019 in order to pave the way for accelerated growth in 2020.

With extensive research and development completed to move the uBUCK Digital Wallet and the 1SHIFT Logistics platform from vision to commercialization, we strongly believe we are now ripe for market differentiation and growth.

LiteLink Open House

We intend to host an open-house early January at the LiteLink headquarters in Burnaby, British Columbia to provide full demonstrations of both of our products, celebrate a pivotal launch, and showcase customer testimonials. In addition, our entire leadership team will be available for Q&A.

Thank you for being loyal shareholders at LiteLink. You are the reason we stand here today, and have enabled LiteLink to become a major industry disruptor for 2020.

Yours truly,
Ashik Karim
CEO
LiteLink Technologies Inc.

About LiteLink Technologies Inc.

LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT)(OTC:LLNKF)(FRA:C0B) is a major player in developing world-class enterprise platforms that utilize artificial intelligence, blockchain, and predictive analytics to solve fragmented and outdated technology problems in the logistics and digital payment industries. Our flagship 1SHIFT logistics platform offers real-time transparency and tracking which allows brokers, shippers, and carriers to track shipments and settle payments in real-time.

The Canadian Securities Exchange, nor its Regulation Services Provider, has not reviewed or approved the contents of this letter.

Cautionary Statement Regarding Forward-Looking Statements

This news release may contain certain forward-looking statements and information (together, “forward-looking statements”) within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “will”, “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the nature of the business of LiteLink, intended plans and anticipated success in the year 2020 and beyond and other factors or information. Such statements represent LiteLink’s current views with respect to future events and are necessarily based upon a number of assumptions and estimate that, while considered reasonable by LiteLink, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. LiteLink does not intend and does not assume any obligation to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.

Please visit the company’s website at litelinktech.com. For a free report on LiteLink Technologies Inc. (CSE:LLT)(OTC:LLNKF)(FRA:C0B) visit microsmallcap.com.

Please See Disclaimer

Go to Top