NEW YORK, December 7, 2018 /PRNewswire/ --
After the meteoric rise of cryptocurrency circa late 2017, cryptocurrency prices have begun to settle. Despite the decline, the technology is still used in many applications. There are thousands of cryptocurrencies listed on cryptocurrency-supported exchanges and while many have different uses, most of them are being used primarily as payment solutions. Now, large players within the industry are looking to leverage cryptocurrency to develop payment gateways and platforms for payment processes. According to data compiled by MarketsandMarkets, the global cryptocurrency market is projected to reach USD 1.4 Billion by 2024 and grow at a CAGR of 6.18% during the forecast period of 2019 to 2024. The main growth drivers for the market can be attributed to the adoption of distributed ledger technology, high remittance in developing countries, high cost of cross-border remittance, fluctuations in monetary regulations and the growth in venture capital investments. Netcoins Holdings Inc. (OTC: GARLF), Oracle Corporation (NYSE: ORCL), Sony Corporation (NYSE: SNE), TD Ameritrade Holding Corporation (NASDAQ: AMTD), Bayerische Motoren Werke AG (OTC: BMWYY)
The payment solutions segment of the cryptocurrency market is expected to witness the highest growth during the forecast period. Cryptocurrency is preferred by some companies due to the technology they're built upon. They have certain advantages such as security, protection from fraud, a decentralized system, low fees, protection from chargebacks and quick international transfers. "It is possible that these payment apps will replace cards and cash, but different technologies will be successful in different markets," said Austin Kimm, Chief Operating Officer of Crypterium. "In China payments are now dominated by WeChat and Alipay, QR readers that when combined are now much more significant than cards or cash. What is unique is there is no restriction to younger more tech-savvy users, but reaches all age groups."
Netcoins Holdings Inc. (OTC: GARLF) is listed on the Canadian Securities Exchange under the ticker (CSE: NETC). Earlier this week, the Company announced, "two (2) important product introductions to complement our retail and OTC lines of business. Netcoins, effective today, is launching an automated Know-Your-Client ("KYC") product allowing our customers to create their own Netcoins account, and complete KYC registration for approved trading. Netcoins is also launching, in conjunction, its first self-serve crypto purchase portal enabling 20+ coins for direct fiat purchase, 24/7, online.
By automating KYC, which will approve customers for trading on both our OTC desk and self-serve portal, Netcoins will be able to scale at an ever increasing rate. With thousands of customers, Netcoins can now easily scale to millions with this key technology in place.
Further, the Netcoins portal is bringing the ability for our valued customers from our retail business and OTC desk to trade 24/7 direct from a fiat funded account. This account can be funded by email money transfer, wire, or voucher. This portal brings to market a very unique product for our altcoins, namely fiat purchase without having to first buy BTC or ETH, which is a typical requirement of online crypto exchanges. This platform will be white-label capable, allowing us to sell a "fiat to altcoin purchase portal" to the altcoin market.
'Despite the bear crypto market that is upon us, Netcoins continues to grow our top line transactional revenues. The addition of automated KYC and a self-serve purchase portal for our customers will enable us to keep scaling, to generate revenues 24/7 online, and to white-label this product for sale to altcoins. I am thrilled by the focus and execution of our engineering team enabling us to keep expanding and serving the crypto market in more ways each month,' said Netcoins CEO Mark Binns. 'As a brokerage, we can thrive in both bear and bull markets - every trade earns us a commission. We look forward to providing more updates as milestones are met.'
The Netcoins portal is now available at: https://netcoins.app/ . The KYC process is automated, and users should be verified (or rejected) within 24 hours of a submitted application. The Netcoins portal is in open Beta, meaning anyone can register and transact, but the experience will continue to be optimized. Feedback and bug reports are welcomed by contacting Netcoins Support via the portal.
About the Company: The Company is in the business of developing software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor through brokerage services. Netcoins enables crypto transactions via 171,000+ retail locations globally, a self-serve crypto purchase portal and an Over-The-Counter (OTC) trading desk."
Oracle Corporation (NYSE: ORCL), with 430,000 customers in 175 countries, provides leading-edge capabilities in software as a service, platform as a service, infrastructure as a service, and data as a service. Recently in an Oracle release, The Korean Digital Exchange (DEXKO), a start-up company, announced that it provides a blockchain platform to trade cryptocurrency or "Korean Won." Its goal is to deliver fast, secure, and convenient services to users. DEXKO used MySQL in the early stage of development. Since over half of the 30 employees were developers, the exchange had difficulties with secure human resources for system management. DEXKO also wanted to reduce customer churn and prevent frequent system failures experienced by the other leading exchanges. By migrating to Oracle Management Cloud, DEXKO increased agility and improved its competitive edge. "Oracle provided us a platform with proven reliability and as much stability as the other leading financial services providers, helping us to increase customer and regulator confidence in the cryptocurrency market. We also prevented availability issues as experienced by our competitors," said Ji Min Kim, Service Planning and Operating Team Manager, Korea Digital Exchange.
Sony Corporation (NYSE: SNE) unlimited passion for technology, content and services, and relentless pursuit of innovation, drives it to deliver ground-breaking new excitement and entertainment in ways that only Sony can. Sony Corporation, Sony Music Entertainment (Japan) Inc., and Sony Global Education, recently announced the development of a rights management system for digital content that utilizes blockchain technology. This new system is based on Sony and Sony Global Education's previously developed system for authenticating, sharing, and rights management of educational data, and additionally features functionality for processing rights-related information. Blockchains create networks where programs and information are difficult to destroy or falsify, and are well-adapted for the free transfer of data and rights. Those traits give blockchains many potential uses across a range of services including finance, merchandise distribution management, and the sharing economy, and blockchains are expected to bring about even more innovative services in the future. At present, they are also used in public P2P network transactions, primarily involving cryptocurrencies such as Bitcoin. Sony Global Education is continuously carrying out technological development and prototyping towards the use of blockchain technology in the educational field. This newly developed system can be utilized to manage educational materials and other forms of content used in the field of education, and Sony Global Education is considering its possible commercialization as a service. Sony Group is also considering innovative ways to make use of blockchain technology for information management and data distribution in a host of different fields. Through the technological development and commercialization of blockchains, including with this new system, Sony will continue exploring the possibilities that blockchain technology holds for Sony Group's diverse and wide-ranging business domains.
TD Ameritrade Holding Corporation (NYSE: TD) provides investing services and education to more than 11 million client accounts totaling more than USD 1.2 Trillion in assets, and custodial services to more than 6,000 registered investment advisors. After being among the first financial service firms to offer approved clients with access to bitcoin futures contracts last year, TD Ameritrade Holding Corporation recently announced that it had made a strategic investment in ErisX, a regulated derivatives exchange and clearing organization that will include digital asset futures and spot contracts on one platform. With in-depth experience delivering and operating a fully regulated market place, ErisX has entered into the digital asset space with a broad offering of both spot and futures contracts on one platform. ErisX has integrated digital asset products and technology into reliable, compliant and robust capital markets workflows. With a regulated, liquid and accessible offering, ErisX enhances the digital asset space for institutional and individual traders alike. "As a strategic investor in the initiative, we look forward to working with the team at ErisX as they develop and launch digital currency products designed to fulfill the needs of retail investors," said JB Mackenzie, Managing Director Futures & Forex at TD Ameritrade. "ErisX's plan is to offer traders access to cryptocurrency spot contracts as well as futures contracts on a single exchange."
Bayerische Motoren Werke AG (OTC: BMWYY) is the only automobile and motorcycle manufacturer worldwide to focus all its brands on the premium segment. Learn more about an extraordinary company. BMW Group Financial Services in the U.S. recently announced the selection of six startups for the first-ever BMW Financial Services Collaboration Lab. The start-ups will now undertake a 10-week lab at BMW Financial Services' offices in Hilliard, Ohio, to further develop their ideas alongside leading subject matter experts in the automotive and financial sectors. The Collaboration Lab accelerator program provides entrepreneurs, start-ups, and small businesses in fintech and other fields with the opportunity to partner with BMW Group Financial Services to develop, and then realize, innovative solutions and game-changing new technologies that can ultimately benefit consumers, dealers, and partners. Companies selected include: Supermoney, Bloom, and others. Supermoney is developing a unique digital wallet. In-store and online, customers can pay with a simple QR scan. The product runs on a system of smart contracts that effectively and efficiently manage counterparty risk, protecting both buyer and seller. Bloom uses public-private key encryption underpinning blockchain technology to verify customer identity and to attest to the accuracy of credit history without storing customer raw data on the servers.
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