Consortium Aims at Speeding up Adoption of Cryptocurrencies Backed Government Currencies

Consortium Aims at Speeding up Adoption of Cryptocurrencies Backed Government Currencies

PR Newswire

PALM BEACH, Florida, October 24, 2018

PALM BEACH, Florida, October 24, 2018 /PRNewswire/ --

Financialnewsmedia.com News Commentary 

Many do not know the fact that Cryptocurrency has been making news since the inception of the World Wide Web and recently has aimed to disrupt operations in the virtual world. According to an article published by CNBC, two of the largest cryptocurrency companies, Coinbase and Circle, are joining forces to establish more ground rules in the quickly evolving asset class. The start-ups announced a joint-venture known as the "CENTRE Consortium", which they say aims at speeding up adoption of cryptocurrencies backed by actual government currencies like the U.S. dollar. Investors could look at crypto as not only a way to get return on an initial investment, but a new technological ecosystem to consider while mining crypto is a procedure that can also yield dividends on investment as well. Despite the roller-coaster events of 2018, many still expect increases in market fueling major investments in state of the art data centers and infrastructure. Active tech companies in the markets this week include Mining Power Group, Inc. (OTC:RCGR), MGT Capital Investments, Inc. (OTC: MGTI), Global Blockchain Technologies Corp. (CSE:BLOC) (OTC:BLKCF), HIVE Blockchain Technologies Ltd. (TSX-V:HIVE) (OTC:HVBTF), Pareteum Corporation (NASDAQ:TEUM).

Mining Power Group, Inc. (OTCPK:RCGR) BREAKING NEWS: Mining Power Group announced today that its majority-owned subsidiary, Northway Mining, LLC, ("Northway") which offers highly specialized data center hosting services for cryptomining, has signed another 1 year client hosting contract worth $200,000 per month which will yield approximately $2,500,000 million in additional hosting fee revenues to Northway over the next year.  

The Company had previously announced that it had signed a 2-year, $270,000 per month hosting contract with Proof Computing, LLC., a U.S.-based firm which will yield $6,480,000 million in revenues to Northway over the 2 years.  

Northway is a cryptocurrency mining hosting facility that provides hosting, electricity, cooling, maintenance, insurance, downtime coverage, OS installation (GPU) assistance, setup & security, and more, including especially low rates for electricity, that reduces client costs and is a major competitive advantage in the marketplace.

Dror Svorai President and CEO, stated, "We are seeing an increased demand from potential clients to utilize our hosting facilities who recognize that we provide a better value in the marketplace with our fully-customized data center cryptomining solutions. We anticipate more hosting deals in the present quarter." Read this and more news for Mining Power Group at http://www.financialnewsmedia.com/news-rcgr

Other recent developments and trading events of note in the industry include:

MGT Capital Investments, Inc. (OTCQB: MGTI) closed up over 43% on Tuesday trading over 8.9 Million shares by the market close, well beyond the normal daily average trading volume. MGT Capital Investments, Inc. engages in bitcoin mining operations in the Wenatchee Valley area of central Washington. At March 30, 2018, it owned and operated approximately 500 miners located in a leased facility in Quincy, Washington; and 4,200 miners located in a leased facility in Sweden, as well as operated approximately 2,100 miners in the Sweden location.

Global Blockchain Technologies Corp. (CSE:BLOC) (OTCPK:BLKCF) recently announced that Hyperion Crypto Exchange Inc. ("Hyperion") has entered into an agreement with Stellar to provide support for Stellar-based assets on the Hyperion exchange. Earlier this year, BLOC made a $5 MM investment into Hyperion in exchange for 12.82% of its total issued and outstanding share capital. Hyperion was co-founded by Michael Zavet, a seasoned fintech and real estate development entrepreneur, and Shidan Gouran, President and CEO of BLOC. Hyperion facilitates the trade of digital assets (to include cryptocurrencies) on an SEC-licensed alternative trading system (ATS), an arrangement that it has attained through a strategic investment in the Delaware Board of Trade (DBOT). Through this same arrangement, Hyperion also operates under a license as a broker-dealer (BD). It will be the first advanced security token exchange in North America, bringing the power of blockchain technology to the trade of securities.

HIVE Blockchain Technologies Ltd. (TSX-V:HIVE.V) (OTCPK:HVBTF) closed up over 6% at $0.47 on the OTC Markets and closed up over 10% on the TSX Venture at $0.62 trading over 1.1 million shares by the market close. HIVE Blockchain Technologies Ltd. operates as a cryptocurrency mining firm. It engages in the mining and sale of digital currencies, such as Ethereum, Ethereum Classic, and ZCash. The company was formerly known as Leeta Gold Corp. and changed its name to HIVE Blockchain Technologies Ltd. in September 2017.

Pareteum Corporation (NASDAQ:TEUM), a cloud software platform company, this week announced that it has signed three-year mobility as a service agreements totaling $11 million and 800,000 in connections with five new brands, including Global Connect, WorldSIM, and Moby. Pareteum Corporation (TEUM) is a rapidly growing Global Software Defined Cloud company with a mission to connect "every person and everything." Organizations use Pareteum to energize their growth and profitability through our Global Software Defined Cloud and complete turnkey solutions featuring relevant content, applications, and connectivity worldwide. Our Cloud platform services partners (technologies integrated into our cloud) include: HPE, IBM, Ribbon Communications (Sonus+GenBand), NetNumber, Oracle, Microsoft, and other world class technology providers. All of the relevant customer acquired value is derived from Pareteum's leading Global Software Defined Cloud, delivering award-winning mobile enablement, regardless of the user's location or network.

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