Blockchain, the technology behind the cryptocurrency craze, is becoming more and more popular thanks to its potential to optimize operations in various fields of business.
It is a type of distributed ledger system, providing enhanced security to the real time digital economic process, and is comprised of blocks of digitally recorded data. Applications built with this technology are utilized in governmental agencies, the healthcare industry, as well as in media, retail, hospitality and energy sectors, amongst others. The global blockchain market is expected to grow by USD 15.1 Billion by 2024, and at a CAGR of 69.3%.
Businesses and major corporations are increasingly investing in blockchain. Mastercard has recently announced the acquisition of the blockchain analytics start-up CipherTrace.
Ajay Bhalla, President, Cyber & Intelligence at Mastercard, said “Digital assets have the potential to reimagine commerce, from everyday acts like paying and getting paid to transforming economies, making them more inclusive and efficient. With the rapid growth of the digital asset ecosystem comes the need to ensure it is trusted and safe. Our aim is to build upon the complementary capabilities of Mastercard and CipherTrace to do just this.”
TD Holdings, Inc. just announced that the company entered into a strategic cooperation framework agreement with Guangzhou Wensheng Blockchain Technology Co., Ltd. (GWBT), a high-tech company focusing on “blockchain+” application solutions to apply blockchain technology in the supply chain financing and development of cloud based warehouse.
Ms. Renmei Ouyang, the Chief Executive Officer of the Company, commented “We are excited to become a strategic partner of GBWT. Leveraging the respective advantages of GBWT’s blockchain technology and the Company’s access to U.S. capital market as a U.S. listed company, we believe the alliance will further enhance our existing platform and business. With the tremendous market potential of blockchain in the supply chain financing and digital cloud warehouse business, we look forward to working with GBWT on this important initiative.”
Riot Blockchain, Inc. announced earlier in June its May production and operational updates, including its unaudited Bitcoin (BTC) production for May 2021 and its latest miner delivery status. The Company plans to continue to provide monthly operational updates and unaudited production results through the end of 2021, while further expanding its blockchain-related capabilities.
HIVE Blockchain Technologies Ltd. reported last month that it has ordered 1,800 Antminer S19j Pro miners from Bitmain Technologies Ltd. These new miners have an aggregate hash power of 180 Petahash per second (PH/s).
SOS Limited reported back in June that it has entered into a joint venture agreement with Niagara Development LLC, a New Jersey limited liability company, to carry out crypto-currency mining operations and construct an international standardized Digital Super Computing Custody Operation Center.
CleanSpark, Inc. announced back in June that it is set to join the Russell 2000® Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the U.S. market opens on June 28th. The Russell 2000 is a benchmark stock index comprised of 2,000 publicly-traded small-capitalization companies. The Company also recently appointed industry veteran Bernardo Schucman as the Senior Vice President of its Atlanta-based Bitcoin mining center.