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Classified in: Business
Subject: INO

Popularity of Initial Coin Offerings are Helping to Drive Blockchain Growth

NEW YORK, July 18, 2018 /PRNewswire/ --

According to a report published by Global Market Insights, the Blockchain market size is expected to surpass USD 16 Billion by 2024. Increasing investments by venture capitalists, the growing trend of Initial Coin Offerings (ICOs) and the rising applications in various industries are the main drivers of the market. Investment spending in Blockchain start-ups reached approximately USD 1 Billion in 2017, up from USD 545 Million spending in 2016. The number of deals also increased significantly to more than 185 deals in 2017 from 135 deals in 2016. Glance Technologies Inc. (OTC: GLNNF), Riot Blockchain Inc. (NASDAQ: RIOT), Tapinator Inc. (OTC: TAPM), Black Cactus Global Inc. (OTC: BLGI), HIVE Blockchain Technologies Ltd. (OTC: HVBTF)

The report indicated that ICOs provide investors an early access to the potential blockchain protocols and applications. Blockchain companies have raised more than USD 2 Billion through over 250 ICOs in 2017. According to the End-use perspective, the BFSI sector holds more than a 60% share in the blockchain market, while the healthcare and the government sectors are expected to witness rapid growth. The government sector is expected to grow at a compound annual growth rate of over 85% during the forecast years as the blockchain technology increases the efficiency and reduces the cost for processing transactions.

Glance Technologies Inc. (OTCQB: GLNNF) is also listed on the Canadian Securities Exchange under the ticker (CSE: GET). Yesterday, Glance Technologies Inc. and BIG Blockchain Intelligence Group Inc. ("BIG"), a leading developer of Blockchain technology search, data analytics solutions jointly announced that, "they have entered into a Strategic Alliance Agreement (the "Agreement")

Under the terms of the Agreement, BIG and Glance will work together to:

(a) establish a mutual referral and strategic marketing relationship;

(b) further explore ways to work together; and

(c) collaboratively market and promote the businesses of both BIG and Glance.

BIG brings security and accountability to the new era of cryptocurrency. BIG has developed from the ground up a Blockchain-agnostic search and analytics engine, QLUEtm, enabling Law Enforcement, RegTech, Regulators and Government Agencies to visually trace, track and monitor cryptocurrency transactions at a forensic level. BIG's commercial product, BitRank Verifiedtm, offers a "risk score" for Bitcoin wallets, enabling RegTech, banks, ATMs, exchanges, and retailers to meet traditional regulatory/compliance requirements. Big's Forensic Services Division brings its team of investigative experts into action for investigations that require in-depth expertise and experience, either in conjunction with or supplemental to its user-friendly search, risk-scoring and data analytics tools.

BIG developed BitRank Verifiedtm to be the industry gold standard in ranking and verifying cryptocurrency transactions. BitRank Verifiedtm offers the financial world a simplified front-end results page, enabling consumer-facing bank tellers, exchanges, eCommerce sites and retailers to know whether a proposed transaction is safe to accept, questionable, or should be denied. BitRank Verifiedtm and its API are custom tailored to provide the RegTech sector with a reliable tool for meeting their regulatory requirements while mitigating exposure to risk of money laundering or other criminal activities."

"We're excited to explore the strategic ways we can work with Glance to the mutual benefit of both companies," said BIG CEO, Lance Morginn. "Glance's current work on developing Glance Coin as a rewards-based cryptocurrency to be integrated into their platform could be a natural fit with the tools and services BIG offers. In the case of Glance Pay, there could be possibilities of cross-integrations or introductions to potential clients as Glance has significant licensing agreements in place with companies in markets ranging from cannabis to fitness and wellness, and foreign students and tourism. We look forward to working with Desmond and the team of experts at Glance."

Desmond Griffin, CEO of Glance commented: "I see this agreement as just the beginning of working with BIG to position both our companies front and center in the global market. As the co-founder of a previous company that processed tens of millions of mobile payments for millions of consumers in 100+ cities around the world, I know you can only build a global presence and client base through this type of partnership and collaboration. We will accomplish so much more by working together. My team and I welcome the opportunities and the chance to work with BIG's team in the days to come."

Riot Blockchain Inc. (NASDAQ: RIOT) is focused on building, supporting, and operating Blockchain technologies, primarily through its cryptocurrency mining operations and other internally developed businesses, as well as joint ventures, acquisitions, and targeted investments in the sector. Riot recently announced its unaudited cryptocurrency mining production yield for the month of June 2018. The Company produced approximately 117 Bitcoins during June, including the BCash that was mined and converted to Bitcoin throughout the month. The Company also produced approximately 290 Litecoins. The June production brings the Company's total unaudited yield for the 2nd quarter to 348 Bitcoins (including converted BCash) and 318 Litecoins. Riot utilized a daily average of approximately 6,236 cryptocurrency ASIC miners during the month of June. The Company presently has about 8,000 cryptocurrency ASIC miners deployed utilizing approximately 11.5MW of energy capacity

Tapinator Inc. (OTCQB: TAPM) develops and publishes mobile games and applications on the iOS, Google Play and Amazon platforms. Recently, the Company provided a general product line update and an overview of recent and upcoming product launches. The Company continues to have significant conviction regarding its Full-Featured Games and Applications business. The Company's goal for its Full-Featured business is to create franchise-type products that are evergreen in nature. In order to accomplish this goal, the Company understands the need to develop products that achieve customer lifetime values (LTVs) that exceed the customer acquisition cost, at scale. The Company has been able to achieve this, at certain download volumes, for two products: Video Poker Classic and Solitaire Dash. The Company believes that, in 2018, it will be able to improve core metrics and scale both of these games via marketing, as well as launch new products that can join Video Poker Classic and Solitaire Dash as Forever Franchises. In January of this year, the Company also announced the creation of a new subsidiary to develop and publish distributed apps and games that leverage blockchain technology. Since then, the Company has launched two fully functioning products, Dark Winds and BitPainting.

Black Cactus Global Inc. (OTC: BLGI) is a technology development company with a focus on Blockchain, machine learning, cryptocurrency, and the Internet of Things. The Company recently announced that it has secured up to USD 3.6 Million in funding for its India based Blockchain development subsidiary, Black Cactus Global Technologies Pvt. Limited ("BCG-TPL). The Company's BCG-TPL Blockchain team has been achieving significant milestones at its Development Center in the burgeoning 'Fintech Valley' of Visakhapatnam, India. The state-of-the-art Vizag Development Center is expected to be fully staffed by mid to late summer to accommodate projected new business, and the Company is planning to develop a second Operations Center in 2019 at the Tech-hub of Hyderabad, India. Chairman Harp Sangha commented, "We are extremely grateful to the Board for both this financial backing and the vision for aggressive growth of the Company. Our management, design team and Development Center are all world class and will enable us to deliver Blockchain-based technology platforms and services around the globe. Our planned operation in Hyderabad will put us right in the heart of cyber-central and will provide a powerful opportunity to add to our relationships and build our brand as the leader in Blockchain Technology."

HIVE Blockchain Technologies Ltd. (OTC: HVBTF) is a growth-oriented, TSX.V-listed company building a bridge from the blockchain sector to traditional capital markets. HIVE is strategically partnered with Genesis Mining Ltd. to build the next generation of blockchain infrastructure. HIVE recently announced its financial results for the three and twelve months ended March 31st, 2018 on Wednesday. Highlights include: In January 2018, HIVE Blockchain successfully operationalized 6.8 Megawatt ("MW") of capacity with the launch of Sweden Phase 1; In March 2018, the Company announced the acquisition of Kolos Norway AS in Norway, which provides significant expansion opportunities to the Company; Since the commencement of mining in September 2017 until March 31, 2018, HIVE Blockchain mined over 17,000 Ethereum coins, and 54,000 Ethereum Classic coins; Subsequent to quarter end, the Company doubled production by bringing Sweden Phases 2 and 3 online which results in total mining capacity in Sweden of 20.4 MW and brings overall mining capacity to 24.2 MW. "HIVE Blockchain continues to execute on its strategy of expanding mining capacity within stable jurisdictions with access to green, low-cost power and high-speed internet." said Harry Pokrandt, Chief Executive Officer and Director of HIVE.

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