NetworkNewsWire
Editorial Coverage: The market for digital currencies is
volatile by nature, and while some commentators declare an imminent
bursting of the cryptocurrency bubble, many analysts forecast
another bull run in 2018. Despite wild swings in digital currency,
the underlying blockchain technology demonstrates more stability.
With this in mind, investors are increasingly turning their
interest to blockchain-focused enterprises, such Global
Payout, Inc. (GOHE) (GOHE
Profile), a company applying blockchain to logistics in the
fintech sector. Processor developer Advanced Micro Devices,
Inc. (AMD) has seen its earnings soar as it provides
technology to support the blockchain, while NVIDIA Corp.
(NVDA) received a boost from the sale of graphics
processing units (GPUs) for cryptocurrencies and gamers. A shift of
focus from digital commerce to using and investing in
cryptocurrencies has seen Overstock.com, Inc.
(OSTK) quadruple in value. Even tech giant
International Business Machine Corp. (IBM) is
exploring blockchain as a tool for payment systems and supply
chains.
More than just Bitcoin
The usefulness of blockchain goes far beyond cryptocurrencies.
It can provide user and product verification, smart contracts that
automatically pay out on completion, and decentralized record
keeping for more efficient supply chain management. It has the
potential to radically improve logistics and financial technology,
especially for organizations in the fast-growing cannabis sector
that often cannot access traditional payment services.
It also decentralizes control of information and financial
transactions, removing the need for a central user vulnerable to
error and fraud. This can simplify and remove many of the risks
from transferring data and money. The World Economic
Forum has predicted that, by 2025, 10 percent of GDP will be
stored using this technology.
With these advantages, the importance of blockchain extend
beyond the companies directly invested in it. Advanced processing
facilities are needed to power the technology, which is leading to
dramatic growth for companies specializing in processing
technology.
Investing Logistics
Global
Payout, Inc. (OTC: GOHE) is one of the companies that
has made blockchain part of a broader fintech platform. Founded in
2009, the company quickly established itself as a leading provider
of payment solutions, allowing organizations to distribute money to
employees and members worldwide. Global Payout's implementation of
the Consolidated Payment Gateway (CPG) provided comprehensive,
customized solutions for business customers’ needs. Offering direct
bank account, mobile account, and prepaid card account options for
mobile user interfaces as well as prepaid cards, it served as a hub
to international bank networks.
This initial product allowed Global Payout to develop the
experience needed for a broader, bolder approach to the fintech
sector. Focusing on logistics, it built up both its software and
its business, investing in new subsidiaries and financial support
solutions. It provides an increasing range of logistical solutions
for the financial sector while it remains grounded in blockchain
and other disruptive technologies. This allows it to benefit from
revolutionary technologies without being vulnerable to dramatic
downturns, such as the recent swing against cryptocurrencies.
Recognizing that the financial technology industry is a
constantly evolving market, Global Payout quickly pivoted from its
initial product. CEO James Hancock said, “As the role and relevance
of today's banks is shrinking, Global Payout is simultaneously
helping the financial market to create better, faster, cheaper
services for individuals, enterprises and governments.”
Launched in 2017, the Global Reserve Platform (“GRP”) is the
next generation of financial logistics from Global Payout. A
customizable web-based financial platform, it lets users manage any
financial product, new or old. This “banking-in-a-box” approach
makes it easy for users to fulfill the front-to-back office
processing requirements of foreign exchange and international
payment service providers. At its heart is the Global Reserve
Administrative module, which financial institutions can customize
to create their own financial management solutions.
GRP allows customers to securely and smoothly carry out a wide
range of financial transactions. More traditional features such as
prepaid credit and debit cards sit alongside mobile wallets as
payment systems become increasingly integrated with users’ mobile
technology. Biometric payments and authentication systems allow
extra security. Loans, grants, market orders, and international
financial transactions can all be managed through the platform.
Faster Supply Chain Finance
Global Payout has expanded its reach through subsidiary
companies. One of these is SecurCapital, a fintech supply chain
finance company.
Like GRP, SecurCapital’s SecurCloud platform is there to serve
the needs of businesses by supporting the smooth flow of finance.
It specializes in supporting the mid-tier logistics industry —
forwarders, government contractors, motor carriers and suppliers.
Its integrated system provides online access to cash, including
global payments and foreign exchange. This lets mid-tier companies
maintain momentum through swift service and transactions. Faster
than traditional payment collection processes, its disruptive
technology optimizes cash flow through delivery of invoices, proof
of delivery and payment transactions to global vendors.
It’s the sort of swift logistics made possible by blockchain.
Leveraging cloud-based innovations to provide smoother service,
SecurCloud will cut out many of the intermediaries and delays that
come from the previous generation of banking solutions. It is being
launched by SecurCapital through blockchain conferences in the
United States, China, and the United Kingdom (http://nnw.fm/xU0Ld).
Support for High-Risk Innovators
SecurCapital demonstrates how fintech innovation can create
efficiencies for underserved companies in traditional sectors. But
Global Payout is also extending its reach to new markets by
providing fintech support to emerging high-risk markets. This is
the work of another subsidiary, MoneyTrac Technology.
MoneyTrac serves the needs of a fast-growing market – cannabis
suppliers and ancillary services. The erratic nature of the
legalization process means that many legal companies struggle to
access the financial services they need to carry out their
businesses. With the spreading legalization of medical marijuana
and recreational legalization in California and Canada, this is a
sector set to grow at an exponential rate.
Traditional banks often won’t provide the services that cannabis
vendors need due to fears over the potential impact of federal
laws. As a result, disruptive financial solutions such as those
offered by MoneyTrac fill a vital space in the financial ecosystem.
By providing payment technology outside of the traditional banking
system, they allow fast, secure transactions for those otherwise
relegated to the risks and logistical inefficiencies of the cash
economy. MoneyTrac’s customizable payment platform allows high-risk
businesses to access systems in full compliance with the
appropriate regulations, better carrying out and tracking their
businesses. The company also offers business, branding and
marketing consultancy so that customers can buy a full package of
support.
A Bigger Blockchain Picture
The wider impact of blockchain is making itself felt across the
fintech sector.
Advanced Micro Devices (AMD), which provides
processing hardware used by blockchain companies, has seen a rise
in earnings off the back of the past year’s cryptocurrency boom. In
2017, the company sold an
estimated $320 million in chips to blockchain companies. It’s a
relatively small part of the $5 billion in revenue the company
produced last year, but a sign of how widely the benefits of
blockchain have spread. The company now provides technology
optimized
specifically for blockchain as suppliers adjust to the new
market.
AMD’s biggest rival, NVIDIA (NVDA), is in a
similar position. Its GPUs sell to a range of markets, including
gamers, data centers and blockchain companies. Blockchain is built
upon large amounts of processing, and as the technology takes off,
so will sales for the companies providing hardware and software.
This led to a rise in earnings for NVIDIA in 2017, which appears
set to continue in 2018.
Overstock.com (OSTK) owns 10 subsidiary
blockchain companies, giving it a position of influence in the
sector. Though primarily known for its operation as an online
retailer, the company facilitates transactions in cryptocurrencies
and runs a blockchain-powered currency exchange. This exchange is
designed to comply with SEC
and FINRA regulations, overcoming one of the main hurdles to
blockchain – a perceived lack of regulatory compliance.
IBM (IBM), one of the most powerful and
prestigious companies in the technology sector, also has its sights
set on blockchain. Its focus is on exploring blockchain as a way of
improving payment systems and supply chains. By reducing cash cycle
time, increasing transaction visibility and cutting intermediaries,
it’s aiming to provide faster financial transactions and greater
transparency. The company is investing in blockchain technology
that will replace sole-source in-house record-keeping methods,
improving oversight and efficiency for logistical and financial
systems. If a company on IBM’s scale is investing in blockchain,
then we can be confident that it’s more than just a bubble.
Disruption is coming to the old financial systems. The needs of
new markets such as the cannabis sector, and the drive for greater
efficiency in businesses such as mid-tier supply chain, create
opportunities for innovative companies. Those who embrace
technologies such as blockchain as part of a balanced platform of
services are likely to thrive in a period of disruption.
For more information on Global Payout, visit: Global Payout,
Inc. (GOHE)
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