Use of Blockchain Technology Projected to Expand

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Feb 21, 2018, 09:00 ET

NEW YORK, February 21, 2018 /PRNewswire/ --

According to a report by Grand View Research, the global blockchain technology market was valued at USD 509.1 million in 2015 and is expected to reach USD 7.74 billion by 2024. The blockchain is an open, distributed ledger that can record transactions between two parties efficiently. Numerous benefits in blockchain technology continue to attract investments from many industries as well as many technology companies. The report indicates that the financial sector is expected to benefit the most from the blockchain technology, while other industries such as healthcare, consumer goods, public sector and transportation also see applications of the technology. ORHUB, Inc. (OTC: ORHB), Singlepoint, Inc. (OTC: SING), Pareteum Corp (NYSE: TEUM), ChinaNet-Online Holdings, Inc. (NASDAQ: CNET), BTCS Inc. (OTC: BTCS)

According to a research published by Deloitte, blockchain technology has the potential to opportunity to create a new model for health care and increasing the security, privacy, and interoperability of health data. The report outlined several blockchain opportunities in the healthcare industry, including Disintermediation of trust, Reduced transaction costs, Distributed framework for patient digital identities, Shared data, Distributed, secure access to patient health data and Smart contracts. "Blockchain does offer a promising new distributed framework to amplify and support integration of health care information across a range of uses and stakeholders."

ORHUB, Inc. (OTC: ORHB) yesterday announced, "the launch of its healthcare blockchain initiative by signing a letter of intent ("LOI") with SinglePoint Inc. (OTCQB: SING) to design and build out go-to-market solutions. As part of the LOI, SinglePoint will review ORHub's existing platform and commit an advanced level of expertise to design proprietary blockchain solutions for the Company.

ORHub's surgical resource management software makes it easy and more efficient for doctors, administrators and other stakeholders to have deep insight into each surgery performed. The value of the underlying data that is captured at the point of care can be further unlocked through blockchain solutions to provide smarter data with wide ranging implications including accuracy of medical records, efficiency of inventory management, improvement of billing cycles, quality of patient treatments and physician performance."

"We consider ORHub to be the pioneer of surgical resource management innovation and our collaboration with SinglePoint to build out transformative healthcare blockchain solutions was a logical extension of our data platform. Our vision is to change the face of surgical healthcare by dramatically lowering surgical costs, aligning physician performance with surgical efficiencies improving hospital economics and patient outcomes. The power of the intelligent data we already capture at the point of care has far reaching implications that can be better deployed through blockchain solutions to resolve the waste in time and resources that have contributed to the cost burden placed on hospitals today. We believe that blockchain inspired technology will set the stage for surgical data to evolve into a new paradigm based on a real-time shared infrastructure platform that is more transparent, more accurate, more timely, more cost effective and easy to use," commented Colt Melby, Chief Executive Officer of ORHub.

Wil Ralston, President of SinglePoint commented, "We look forward to this exciting opportunity to extend ORHub's platform that will revolutionize operating rooms at hospitals. We are confident that we can deliver a scalable solution that can transform multi-billion dollar industries through intelligent and efficient access to data that will provide doctors with the confidence that they are well-equipped to optimally perform surgical procedures."

Singlepoint, Inc. (OTCQB: SING) last week provided shareholder update on recent OTCQB up-list, company overview and adding key board member to help guide company technology initiatives. SinglePoint is currently engaged with auditor to complete 2017 audit and become fully reporting soon. Becoming fully reporting should increase the exposure of SinglePoint to institutional investors for direct investment as well as through the open market. In addition to this the company looks to increase transparency and credibility for its shareholders and ultimately increase the value of SinglePoint.

Pareteum Corp (NYSE: TEUM) announced that it has published a whitepaper to explore the opportunities that Blockchain enables including security, identity management and settlement. The whitepaper begins with defining how Blockchain supports the integration of various forms of traditional and next generation payment models. Providing real-world use cases, the whitepaper demonstrates how Blockchain relates to the communications market. The Whitepaper explores how the Pareteum Global Cloud Service Platform supports Blockchain enablement and why it's important for mobile solutions providers to understand the basics of this new technology. Ali Davachi, Chief Technology Officer comments, "Pareteum is focused on delivering enabling technology to all of its partners. The TEUM Blockchain (TBC) will revolutionize how our customers leverage Blockchain technology. Enabling our SaaS platform with identity management, transaction settlements and payment solutions greatly expands the opportunity for our customers."

ChinaNet-Online Holdings, Inc. (NASDAQ: CNET), a parent company of ChinaNet Online Media Group Ltd., incorporated in the BVI (ChinaNet), is an integrated online advertising, precision marketing and data-analysis and management services platform. On January 23, 2018, the company announced it has entered into an agreement with Wuxi Jingtum Network Technology and Ford tree Beijing Blockchain Technology Co., Ltd. to establish a new joint venture company ("new JV") to research and develop blockchain technology and its applications for ChinaNet's blockchain technical and business units. ChinaNet will act as the controlling shareholder leading all aspects of the project. The new JV will be registered in the territory of the People's Republic of China and will be established in early February of 2018. According to the Agreement, Jingtum's Chief Technology Officer and other leading experts will be involved in the establishment of the new JV. The R&D team under the new JV will help ChinaNet design the underlying foundation of unique layered blockchain architecture, develop the cross-chain functionality between the principal and subordinate chains, realize the circulation of certain assets between different chains, design intelligent contract mechanisms to support complex logic, and complete the cloud service model and other important underlying technology. The framework of this platform will have an on-line beta test in February.

BTCS Inc. (OTCQB: BTCS) is an early mover in the blockchain and digital currency ecosystems and the first "Pure Play" U.S. public company focused on blockchain technologies. On October 25, 2017, the company announced it has closed on the remaining balance of its previously announced financing, which was co-led by Blockchain Global Ltd. Blockchain Global is a leading multi-national pure-play Blockchain Technology company operating across four business segments, including transaction verification services, an institutional exchange platform, a blockchain start-up accelerator, and a blockchain technology consultancy. BGL's vision is to increase availability and transparency of data to make both public and private sector industries more efficient and integrated. BGL leverages industry IP and knowhow to commercialize blockchain enabled platforms that uplifts trust throughout the digital spectrum.

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