NetworkNewsWire
Editorial Coverage: Renowned British theoretical physicist
Stephen Hawking, before passing away March 14, 2018, recently
offered this observation (http://nnw.fm/07THl) about artificial intelligence:
“The rise of AI could be the worst or the best thing that has
happened for humanity.” For those companies immersed in developing
blockchain technology, the famous scientist’s words underscore the
responsibility tech companies shoulder as the integration between
this technological trend and the Internet of Things (IoT) opens up
promising new frontiers (http://nnw.fm/4cwMz). As a strong proponent of
blockchain technology for the finance market’s logistics supply
chain integrity and high-risk sectors such as legalized cannabis,
Global Payout, Inc. (GOHE) (GOHE
Profile) is determined to offer customized solutions based on
fintech and blockchain services. Other notable players investing
heavily in blockchain technology are Microsoft Corporation
(MSFT), Alphabet, Inc. (GOOG) (GOOGL), Overstock.com, Inc.
(OSTK) and CME Group, Inc. (CME).
Back to the Future
Various market research reports predict that blockchain
technology will revolutionize the world. The global blockchain
market is projected to reach $60.7 billion in 2024, according to
one report (http://nnw.fm/1rAcM). And while the word
blockchain isn’t nearly as well-known as bitcoin
or cryptocurrency, the terms are genetically related, so
to speak. Bitcoin founder Satoshi Nakamoto created the original
blockchain network as a form of distributed ledger technology to
record the encrypted, virtual “bitcoin” currency transactions on a
network of computers (http://nnw.fm/PHIt3). Without a central ledger and
with each block in the chain of transactions immutable, the
cryptocurrency is described as highly secure since each block is
encrypted.
Timely Solutions
As an innovative fintech company, Global Payout
(GOHE) is already providing customized payment solutions for
organizations transferring funds throughout the world. The
company’s next-generation B2B solution, which automates
international fund transfers, payments, billing, and invoicing
processes, is managed by its Global Reserve Platform (GRP). GRP is
a fully configurable, banking-in-a-box web-based platform designed
to improve work flow, operational efficiencies and global financial
management for enterprises operating around the globe. The GRP
provides is currently available in 26 languages; performs currency
exchanges worldwide; and offers KYC-compliance for all account
holders and merchants (http://nnw.fm/j2uVI).
Logistical Nightmare, Anyone?
One of the top challenges facing the logistics supply chain
industry is moving commodities from manufacturer-to-store shelf or
direct-to-consumer. This process is costly, cumbersome, fraught
with potential pain points, and susceptible to issues relating to
political and economic uncertainties (http://nnw.fm/1t6K2). Global Payout’s logistics
subsidiary, SecurCapital Corp., is centered on a disruptive
one-click solution that focuses on solving these supply chain
issues in the finance services sector (http://nnw.fm/AElr7).
“Clearly, there has been a monumental paradigm shift in the
underserved supply chain finance industry attempting to incorporate
a wide breadth of fintech and blockchain alternatives,” Global
Payout CEO James Hancock recently stated (http://nnw.fm/qSud9). “Traditional financial
institutions are not positioned to serve the industry payment
requirements for secure access, integrated foreign exchange, speed,
international payments or access to adequate working capital.”
Blockchain Bridges
Global Payout’s market focus is on several key industries with
proven, ongoing challenges (http://nnw.fm/0IGko). Among the industries Global
Payout currently serves through SecurCapital are the shipping
industry and its logistics supply chain, which includes suppliers,
freight forwarders, warehouse and final mile distributors; the
banking industry, which suffers from outdated legacy IT platforms
that are expensive to scale, modify and extend; small and medium
enterprises that struggle to make and receive international
payments with customers, suppliers and merchants; and global travel
companies that experience significant financial transaction issues
because of currency barriers.
SecurCapital’s adaptive platform leverages next-generation
fintech solutions to streamline payments and free up working
capital for industry-specific requirements and challenges. The
company’s SecurCloud Platform will be exhibited at a series of
upcoming industry-leading fintech and blockchain conferences
scheduled in China, the United Kingdom and the United States.
(http://nnw.fm/w8JoC).
Access Granted
Global Payout provides global access to technology for
optimizing financial transactions, which enables its clients to
protect and trade financial assets on a worldwide basis. Grand View
Research noted in its Blockchain Technology Market Analysis by Type
that the financial services sector accounts for the majority of
expected future market growth (http://nnw.fm/5Z2Jq), observing that “the financial
sector stands to benefit the most from the technology and has been
a proactive partner and investor in the development from its
initial stages.”
Serving the Unbankables
Stepping into today’s “new age” of cannabis-related business
ventures means offering alternative banking and electronic payment
solutions to an industry that is generating considerable interest
among the public and investors. According to an Oct. 25, 2017,
Gallup poll, a record-high 64 percent of Americans now say cannabis
should be made legal (http://nnw.fm/MSa7P). However, paying for the highly
regulated plant remains problematic for consumers and merchants
alike, with most transactions taking place in a cash-only
environment since cannabis remains illegal at the federal
level.
Global Payout subsidiary MoneyTrac Technology, Inc. ("MTRAC")
and its PotSaver brand (http://nnw.fm/sUr4H) offer financial technology
solutions for companies and businesses in “unbankable” or
“high-risk” industries that cater to cannabis consumers (http://nnw.fm/oEj8y). MTRAC’s solutions include a
payment platform, blockchain security, crypto-commodity exchange,
compliance, point-of-sale, e-wallet, mobile application and digital
payment solutions for businesses and companies in various high-cost
or other industries perceived as alternative.
In California alone, the legal cannabis industry is expected to
generate $3.8 billion in 2018 with that number expected to increase
to over $5 billion in 2019 (http://nnw.fm/Jrm3Y). Recognizing this opportunity,
MTRAC is launching MTRAC-Token™ to combat payment restrictions in
the growing cannabis marketplace. MTRAC CEO Vanessa Luna said the
token offers a solution to an industry that is heavily restricted
in regard to banking accessibility and e-Payment solutions
(http://nnw.fm/3PD5f).
Blockchain Community
Global Payout and its subsidiaries are joined by large
corporations in the belief that blockchain technology is worthy of
research in a bid to find answers to complex problems plaguing
numerous industries.
Microsoft (MSFT) recently announced its
intention to develop a decentralized blockchain-based identity
system that would allow “individuals to own and control all
elements of their digital identity” (http://nnw.fm/dN6bQ). Microsoft’s participation as a
launch partner with the Enterprise Ethereum Alliance, noted in a
separate company blog post (http://nnw.fm/GXn5Z), states Ethereum and the alliance
are supported by Microsoft Azure, which offers
blockchain-as-a-service tools. Microsoft also stated its belief
that blockchain users and regulators should work together on
regulatory and security issues as blockchain-based technologies
advance.
Alphabet (GOOG) (GOOGL), the parent company of
Google, has emerged as one of the more active backers of blockchain
technology in recent years, according to Bloomberg (http://nnw.fm/4qaQy). Alphabet’s six reported
investments, made through its Google Ventures arm, were part of the
$1.2 billion invested in blockchain since 2012 by some of the
world’s largest corporations, according to CB Insights. Alphabet’s
investments span a variety of industries from decentralized cloud
storage provider Storj-io, to cryptocurrency derivatives-trading
platform LedgerX and payments network Ripple, as well as Veem, a
global merchant payment provider that uses bitcoin for money
transfers, and Buttercoin, an open source digital trading engine
(http://nnw.fm/A7a3r). Alphabet company DeepMind
is also exploring the use of blockchain to track usage of health
care records.
Overstock.com (OSTK) CEO Patrick Byrne, long a
supporter of cryptocurrencies and blockchain technology, disclosed
his company received $100 million from the Quantum Fund, which is
managed by billionaire George Soros. Byrne said he anticipates $20
million of the new funds would go toward DeSoto Inc., the company’s
blockchain property rights joint venture with economist Hernando
DeSoto. The rest of the funding will be invested across Overstock’s
flagship e-commerce platform, which accepts bitcoin for payments,
and other blockchain ventures that are part of its Medici Ventures
subsidiary (http://nnw.fm/xY2z7).
Another player in blockchain-backed efficiency platforms is
CME Group (CME), the world’s leading and most
diverse derivatives marketplace. On Dec. 15, 2017, Citi and CME
Group announced the implementation of a blockchain-inspired
platform that would cut costs associated with back-office
operations while simultaneously accelerating funding timeframes on
margins, according to an article in Ethnews.com (http://nnw.fm/qL0jZ). The system is designed to
achieve greater levels of efficiency, which could free up billions
in collateral sitting aside as banks await transaction settlements.
The technology provides numerous advantages including elimination
of manual touch points, reduction of email traffic and the
avoidance of logging into multiple portals to accomplish the
task.
Blockchain Buzz
Blockchain technology isn’t just a buzz word of the day, it’s
seen as a potential game-changer when it comes to world economies.
According to a recent report (http://nnw.fm/bI2kb) by JP Morgan, “there is a growing
realization that distributed ledger technology—popularly known as
blockchain—will bring a radical shift in the way we think about
financial assets and the way the financial industry will operate in
the future.”
For more information about Global Payout, visit
Global Payout,
Inc. (GOHE)
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