NetworkNewsWire
Editorial Coverage: As blockchain becomes better established,
companies across a wide range of industries are finding ways to
benefit from the technology. Payment solutions company
Global Payout, Inc. (GOHE) (GOHE
Profile) is providing blockchain services for
logistics, payment, and high-risk businesses through a set of
subsidiaries. Nvidia Corporation (NVDA) is seeing
a period of growth as demand for its processing hardware rises to
support blockchain software. Shopping chain Walmart, Inc.
(WMT) has taken out a patent for blockchain-based package
tracking and is working with IBM on blockchain food supply chains.
United Parcel Service, Inc. (UPS) has also taken
an interest in using the technology to track deliveries, investing
in the future through the Blockchain in Trucking Alliance, and even
oil giant BP plc (BP) has a pilot program to
explore how blockchain could improve energy supplies and
trades.
The Growth of Blockchain
Blockchain started out as a technology for the financial sector.
Its most famous use has been in cryptocurrencies such as bitcoin,
whose entire model is built around blockchain. But there are many
other financial uses of this distributed ledger system. It can
facilitate fast currency exchanges, execute swift payment on smart
contracts and improve the audit trail on interactions thanks to its
secure record keeping. Though older financial institutions have
resisted the lure of cryptocurrency, they are now taking an
interest in blockchain, using this novel technology to build better
versions of traditional products.
With the groundwork laid in finance, other industries have
started paying attention and are finding that they too can
transform the way they work. The blockchain playing field is
increasingly diverse, covering finance, administration, logistics
and a host of other applications. For investors, this means the
opportunity to diversify their portfolios while still benefiting
from the growth of blockchain, investing in a range of different
companies that all use this cutting-edge technology. As blockchain
helps businesses expand beyond their core services, it creates more
options for investors who are not focused on finance. A recent
report identified more than 30 industries undergoing dramatic
changes because of blockchain, showing that the time is ripe to
take a look at this innovative technology.
Faster Finance
Among the companies finding diverse applications for blockchain
is Global
Payout, Inc. (GOHE). A payment solutions company
focused on providing better technology for businesses, Global
Payout has made blockchain central to its systems. The technology
allows it to provide payment processing systems that are efficient,
adaptable and focused on a better customer experience.
Global Payout’s leading product is the Global Reserve Platform
(GRP). This “banking-in-a-box” system provides businesses with a
full range of financial services, from front-end payment solutions
to back-office support. Its customizable nature means it can be
adapted to the needs of the business using it. Every company deals
with different issues, and customizable payment platforms such as
GRP allow businesses to move beyond one-size-fits-all solutions to
get the functionality they need.
This is made possible by the wide range of financial products
GRP supports. It can provide online banking, card management,
mobile wallets, merchant payment processing, biometric payments and
authentication management, bill payments and P2P payments,
international remittances, government benefits management, loans
management, FOREX and SWIFT/ACH/SEPA payments. In short, whatever a
business needs from its payment package, GRP works to provide.
This integration of systems creates efficiencies as well as
adaptability. Because the different parts of the payment package
work together, processing and record keeping are designed to be
faster and more effective. Efficiency gains may be driven across
the organization as everybody works together using a single,
flexible tool.
Blockchain Solutions for New Sectors
In addition to GRP, Global Payout is offering a different sort
of innovative payment solution through its MoneyTrac Technology,
Inc. (“MTRAC”) subsidiary.
MoneyTrac’s core business is providing cash-flow support for the
cannabis industry. Since the emergence of a state-by-state legal
cannabis market in the United States, companies supplying and
distributing the product have found themselves badly served by the
traditional banking sector. Federal restrictions have made banks
nervous about offering their services to the industry. Although
cannabis is legal in many states, it has long been the target of
law enforcement under DEA-led guidelines. This initially drove
medical cannabis companies to require cash for most transactions,
putting them at greater risk of theft, fraud and error. The larger
the industry grew, the bigger the problem became.
MTRAC is a customizable, web-based payment system powered by
GreenBox, a blockchain company. The system can be adapted to suit
both the brand and the practical needs of a given business. By
using blockchain-powered payments, users can eliminate cash-only
headaches without needing direct access to traditional payment
systems.
Backing its technology up with business consulting expertise,
MoneyTrac has found a place in the cannabis market, providing vital
financial services to a fast-growing sector. But this may not be
the only area where the company’s services could prove useful.
Expanding beyond the Core Business
Though the cannabis industry has struggled more than most with
payment solutions, it isn’t the only sector that might benefit from
the faster, more efficient and adaptable payment processing
solutions that blockchain provides. As a result, MoneyTrac is now
looking to expand beyond its core market.
That expansion began with a relatively low-tech move. Having
invested in PotSaver, a community periodical offering readers
discounts on cannabis products, MoneyTrac is expanding that brand’s
mission. PotSaver will provide information on a wider range of
deals, not just cannabis-related products, to reach a new client
base (http://nnw.fm/wEs3N).
The company is also looking to expand the reach of its payment
services. The launch of its MTRAC-Token provides the foundation for
a more extensive and integrated payment solution (http://nnw.fm/DxT8y). Each token will be a half share
in the company, used as security for financial interactions through
a blockchain payment system. This will provide a basis on which to
offer banking solutions to a wide selection of high-risk
businesses, achieving the company’s goal of “Banking the
Unbankable™”
“The MTRAC-Token™ is a unique type of investment opportunity
providing investors a way to be involved in revolutionizing a
multitude of industries,” said MTRAC CEO Vanessa Luna. “There has
never been a time like the present, when technology and finance
converge to create viable, and much needed, solutions in a
burgeoning new industry, which is expected to grow exponentially
over the next few years.”
Better Logistics
Global Payout’s work is about the varied potential of
technology, and this is evident in the use of blockchain by another
subsidiary, SecurCapital.
SecurCapital provides payment and capital solutions for mid-tier
logistics businesses. Its proprietary logistical ecosystem is
controlled by the customer, allowing it to improve the flow of cash
and services. This system does more than just facilitate payments.
It provides proof of delivery and invoices, integrating the
elements of the logistical flow. Faster payments and delivery are
made possible through the support of blockchain technology.
The Potential of Blockchain
As blockchain’s use expands to a diverse range of sectors,
plenty of companies are finding ways to profit from its
potential.
As a technology company known for its computer hardware,
Nvidia (NVDA) is seeing a period of growth thanks
to blockchain. The company’s graphics processing units (GPUs),
developed for gaming, are being used to provide computing power for
cryptocurrency mining. The processing needed to support blockchain
has increased sales for the company and led to a rise in its stock
price (http://nnw.fm/4QSrg). As blockchain grows in
popularity, this trend is likely to continue.
Shopping giant Walmart (WMT) might sound like
an unlikely player to enter the blockchain field, but it has
reasons for taking an interest. The company recently filed a patent
for a blockchain-based tracking system to be incorporated into
smart packages (http://nnw.fm/jqDZ0). This would allow better shipping
and more accurate records following the package through as it
reaches its destination. Walmart is also working with International
Business Machines (IBM) and other companies on using blockchain to
improve data management in the food supply chain (http://nnw.fm/MaxC1).
Like Walmart, United Parcel Service (UPS) is
exploring ways to apply blockchain to improve delivery services.
The company has joined the Blockchain in Trucking Alliance (BiTA),
involving itself in efforts to bring new effectiveness to the
trucking industry (http://nnw.fm/Fov9t). Because of the way blockchain
records are kept, the company believes that it could lead to
faster, more secure and more accurate processing of information
around deliveries. This should speed up the logistics chain,
bringing products quickly, cheaply and precisely to where they need
to be.
In the energy sector, blockchain appears set to transform both
the trading and provision of energy. BP plc (BP)
has invested in a pilot program exploring the potential uses of
blockchain in the sector (http://nnw.fm/3rDhO), where it could speed up trades.
The peer-to-peer nature of information sharing through blockchain
could also support the exchange of surplus energy, for greater
efficiency (http://nnw.fm/9BRbp).
From crude oil to cannabis, blockchain is working its way into
every corner of the economy. Now more than ever, investors can
benefit from this technology without having to tie themselves to a
single sector.
For more information on Global Payout, visit Global
Payout (GOHE).
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