NetworkNewsWire
Editorial Coverage: Though typically associated solely with
bitcoin and cryptocurrency, blockchain technology is becoming
increasingly important for a wide range of industries – from oil
& gas to security and sports betting. As one of the foremost
companies on the development front, Victory Square
Technologies, Inc. (CSE:VST) (OTC:VSQTF) (FWB:6F6)
(VSQTF
Profile) invests in and incubates
entrepreneurial ventures to take advantage of existing and emerging
market opportunities, including the development of blockchain
technology in various industry sectors. Other companies involved in
blockchain technology development include Marathon Patent
Group, Inc. (NASDAQ: MARA), BTCS, Inc. (OTC:
BTCS), 360 Blockchain, Inc. (CSE: CODE)
and LongFin Corp. (NASDAQ: LFIN).
Blockchain technology was initially developed to facilitate the
exchange of cryptocurrencies without the need of a middleman, like
a bank, to make a transaction. In this system, every transaction is
represented online as a block, which is distributed to a network of
computers for approval before being added to the chain to complete
the transaction. Blockchain uses cryptography to secure exchanges
and provides a digital ledger of transactions that are transparent,
reducing the risk of fraud and preventing transactional duplication
(http://nnw.fm/oH4Hr).
Victory
Square Technologies, Inc.’s (CSE:VST) (OTC:VSQTF)
(FWB:6F6) core mission is to fund and empower
entrepreneurs who display promise in a variety of fields, including
the burgeoning blockchain technology, as part of its goal to
promote innovation on a global scale. The company helps
entrepreneurs grow internationally by making distribution partners,
mentorship networks, creative workspaces and other resources
available to them.
Victory Square sees blockchain as the next major platform for
innovation, standing out as a technology that has the potential to
change the way businesses and a wide array of societies connect
with each other. Pivoting from this early-recognized potential,
Victory Square began its ascent in blockchain based on management’s
ability to recognize key investment opportunities with plenty of
room to grow.
BTL Group (TSXV: BTL) (OTC: BTLLF), a blockchain solutions
driver for multiple industries, became one of Victory Square’s
initial noteworthy investment successes when it launched as the
first public blockchain tech company into what is now a $250
million enterprise. Adding depth to this investment is the fact
that BTL Group co-founder Guy Halford-Thompson sits on Victory
Square’s advisory board.
Victory Square is looking to take advantage of another market
opportunity in software defined wide area networking (SD-WAN)
through its recently announced intent to invest in SD-WAN
blockchain company Multapplied Networks, Inc. (“MNI”). Focused on
utilizing its proprietary software to establish a global
blockchain-enabled networking economy, MNI delivers its technology
through a portfolio of global channel partners in North America,
Europe, Asia, Africa and Australia, and is on pace to top revenues
of $1.2 million in 2017. Revenues for 2018 are projected to exceed
CAD$3 million.
Per the LOI (http://nnw.fm/EQ0Ww), Victory Square will acquire a
20-percent stake in MNI, a move representative of the company’s
strategic investment model.
“This acquisition exemplifies Victory Square’s mandate to
continue investing in companies with game-changing potential that
are redefining the industries in which they operate,” Victory
Square CEO Shafin Diamond stated in the press release. “We believe
in MNI’s vision of a global decentralized Internet and look forward
to continuing to find synergies between their networking
capabilities and all of our portfolio companies. We are confident
that a strategic implementation of blockchain technology into MNI’s
platform will allow MNI to build upon its impressive global network
of service provider clients.”
MNI is designed exclusively for service providers, and is the
only white-label platform enabling them to seamlessly integrate
SD-WAN technology into their existing service offerings. The result
is lower costs, increased quality of service and enhanced
customizability and performance monitoring.
Victory Square sees SD-WAN as a disruptive technology with high
potential in enterprise networking, and points to other industry
acquisitions, such as Cisco Systems’ $610 million acquisition of
Viptela (http://nnw.fm/Fu03F), as evidence of mounting interest
in the technology.
Aside from these two key initiatives, Victory Square continues
to diversify its portfolio, in terms of blockchain application, and
has distinguished itself in the sports betting industry through an
investment in wholly owned subsidiary FansUnite Media, Inc., which
developed a new social sports betting platform that integrates
blockchain technology to help individuals discuss, collaborate and
predict the winners of sporting events using free virtual
currency.
Building on these strategic investments, Victory Square gaining
traction as a market innovator identifying the potential of
blockchain to disrupt verticals in which its portfolio of companies
operate, including film and gaming, health, FINTECH, virtual
reality and artificial intelligence.
“Blockchain is reliable and available, transparent, immutable,
irrevocable and digital. It's a disruptive technology because of
the ability to digitize, decentralize, secure and incentivize the
validation of transactions,” the company states on its website. “We
are using our expertise at company building to identify, incubate,
advise and invest in the best blockchain entrepreneurs, launching
the new technology market leaders of the future.”
Another company expanding its reach into the world of blockchain
is Marathon Patent Group (NASDAQ: MARA), an IP
licensing and commercialization company, which acquires and manages
IP rights from diverse sources including large and small
corporations and universities. The company covers the full life
cycle of commercialization from discovering opportunities to
performing due diligence, providing capital, managing development,
protecting IP, assisting in business plan execution and realizing
shareholder value. On Nov. 2, 2017, Marathon announced that it had
entered into a definitive purchase agreement to acquire 100 percent
ownership of Global Bit Ventures Inc., a digital asset technology
company using blockchain protocols to mine cryptocurrencies.
BTCS (OTC: BTCS) is the first pure play
publicly traded company focusing on blockchain technologies in the
United States. In August 2017, it signed a letter of intent to
merge with an Australian company, Blockchain Global Limited, which
would give BTCS access to Blockchain Global’s Bitcoin exchange,
transaction verification services and its accelerator program that
provides fledgling businesses access to blockchain technologies and
applications. With the phenomenal surge in bitcoin over the course
of 2017, BTCS plans to expand its digital asset portfolio by
participating in strategic market purchases, to make initial coin
offerings, and to resume transaction verification services.
360 Blockchain (CSE: CODE), a Canadian-based
company, invests exclusively in blockchain-based technology by
looking for early-stage opportunities in the blockchain and
cryptocurrency fields. It accelerates the development and
application of both public and private blockchain technologies,
including cryptocurrency, smart contracts, decentralized data
management and cryptographic security. The company is currently
focused on developments in the e-sports, human resources, IoT and
consumer loyalty program sectors. On Nov. 8, 2017, 360 Blockchain
announced a $100,000 investment in a joint venture with NOS
Blockchain Inc. to accelerate the development and implementation of
NOS’s existing, advanced blockchain technologies. NOS is a
subsidiary of Nerds on Site Inc., which provides cost-effective,
leading edge IT solutions to small and medium-sized
enterprises.
LongFin (NASDAQ: LFIN) is an alternative
finance and technology services company that provides non-banking
structured commodity trade Fintech solutions for global markets
seeking liquidity. It has a goal of connecting 70 FX and spot
exchanges as well as 300 banks through its electronic market-making
trade platform. In addition to the structured commodity trade
finance market, the company is focused on alternative risk
transfer, asset liability funding and carry trade financing and
hedging markets.
With the predicted expansion of blockchain technology beyond the
financial sector into many other industries, these companies are
focused on developing their expertise and are uniquely positioned
to form partnerships and joint ventures to maximize their growth
potential.
For more information on Victory Square, visit Victory Square
Technologies, Inc. (CSE:VST) (OTC:VSQTF) (FWB:6F6)
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