NEW YORK, March 20, 2018 /PRNewswire/ —
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. (OTC: 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 (NASDAQ: MSFT), Alphabet, Inc. (NASDAQ: GOOG) (NASDAQ: GOOGL), Overstock.com, Inc. (NASDAQ: OSTK) and CME Group, Inc. (NASDAQ: 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.
As an innovative fintech company, Global Payout (OTC: 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.”
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).
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).
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 (NASDAQ: 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 (NASDAQ: GOOG) (NASDAQ: 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 (NASDAQ: 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 (NASDAQ: 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 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. (OTC: GOHE).
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