Developments in the Blockchain Industry

NEW YORK, January 17, 2018 /PRNewswire/ --

The cryptocurrency and blockchain market have experienced rapid growth in 2017. According to a report from Research and Markets, the global blockchain market size is expected to reach USD 7,683.7 million by 2022, from USD 411.5 million in 2017, at a compound annual growth rate of 79.6 percent. The major factor that has been driving the blockchain market is the increasing demand for simplified business processes, transparency and immutability, faster transactions, as well as Blockchain-as-a-Service. Blockchain, which is best known as a distributed ledger that can record transactions between two parties, is now developed to use for communication service providers, transformation of international trade and supply chain management. Epazz, Inc (OTC: EPAZ), Bitcoin Services, Inc. (OTC: BTSC), BTCS Inc. (OTC: BTCS), Singlepoint, Inc. (OTC: SING), HIVE Blockchain Technologies Ltd. (OTC: HVBTF)

The report also indicates that the blockchain technology has significantly changed the payment application segment, which is expected to hold the largest market size during the forecast period. The use of the technology in the payment industry has resulted in substantial cost savings in the context of reconciliation and settlement for many financial institutions and banks. According to the report, "Increasing adoption of Blockchain-as-a-Service, rising cryptocurrency market cap and ICO, simplifying business processes, and creating transparency and immutability are expected to propel the growth of the blockchain market"

Epazz, Inc (OTC: EPAZ) just earlier today announced breaking news that, "that the company ZenaPay Bitcoin wallet has been download more than 10,000 times since its launch on the Android Play Store. This is a major achievement given that the app was just launched on December 31, 2017. The company will be tracking the downloads to determine the conversion ratio between downloads and installations. Once the company determines how many downloads lead to installations, it can then determine the conversion ratio between installed users and active users. It is important to understand how many downloads equal active users. As the company continues to roll out the marketing campaign, this type of data is critical in creating a user base the company can monetize.

Its user base is the key to growing ZenaPay's business. The company plans to add other blockchain apps related to the Bitcoin wallet. Other blockchain apps will help create new sources of revenue for the company. The company has set February 10, 2018, as the release date for the new version of ZenaPay, which will have an updated start screen that will show each cryptocurrency. Users will see the value of their Bitcoins and Ethereum on the same start screen. It is important for users to be able to see a summary of their holdings immediately to determine which cryptocurrency to use when making transactions.

The growing user base will provide critical feedback needed to improve future versions of ZenaPay, which in turn will increase the growth rate. So far, the reviews are positive, but Epazz needs to immediately address suggestions to increase the app's ranking on the Play Store.

Epazz CEO Shaun Passley, PhD, stated, "The initial download activity is a good indicator that there is interest in ZenaPay Bitcoin wallet. We need to give it some time to get more data on user activities. The key with ZenaPay is completing transactions quickly, and with every version, we will keep this mind."

Future Features Releases - Point of Sale - ZenaPay is developing an iPad point of sale (POS) app to integrate with the Merchant App. Epazz will release the POS version of the Merchant App will be released on February 15, 2018. The new system has been designed to seamlessly integrate with merchants' store flow. Vendor and Payroll Payment Solution - ZenaPay's development team is also working on a vendor payment solution that will allow merchant businesses to pay vendors and employees using cryptocurrencies. Future features will include the following: - An e-commerce store - Seed-to-sale tracking - Sales reporting and compliance ".

Bitcoin Services, Inc. (OTC: BTSC) offers services related to cryptocurrency and bitcoin, such as Bitcoin Mining and Blockchain Software Development. "Bitcoin mining serves to both add transactions to the block chain and to release new Bitcoin. The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle. The first participant who solves the puzzle gets to place the next block on the block chain and claim the rewards," according to the company's website.

BTCS Inc. (OTCQB: BTCS) in a recent letter to shareholders updating current activities and outlining its corporate strategy. According to the letter performance of the blockchain space over last year validates our original business thesis, which began in early 2014. Despite having the right idea at the right time, the challenge of raising the necessary capital to execute impacted our ability to truly realize the potential from this disruptive opportunity. With respect to the merger with the Australian blockchain company, due to delays in receiving their audited financials and other due diligence items, the board unanimously decided to evaluate other potential merger targets.

Singlepoint, Inc. (OTC: SING) a long-term global collaboration with dynamic entrepreneur Kevin Harrington. As part of the partnership, Harrington will work hand-in-hand with the innovative technology brand to launch a range of services in SinglePoint's cryptocurrency division. Harrington will be the spokesman for the launch of SinglePoint's national TV campaign, which is scheduled for production on January 19, 2018. The campaign plans to air on major financial news networks, such as CNN, Fox News and others.

HIVE Blockchain Technologies Ltd. (OTC: HVBTF) announced this week the completion of the first phase ("Sweden Phase 1") of a multi-phase build-out of a large-scale GPU-based mining complex in Sweden. HIVE's Sweden Phase 1 operation commenced mining Ethereum on January 15, 2018 and increases the Company's energy consumption dedicated to cryptocurrency mining by over 175% to 10.6MW. HIVE is fully financed to add an additional 13.6MW of GPU mining capacity in Sweden by April 2018 and a further 20.0MW of ASIC mining capacity, facilities capable of mining Bitcoin and Bitcoin Cash, by September 2018.

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