Blockchain Technology Could Change Our World More than People Imagine
Says Jack Ma, Co-Founder of Alibaba
Should you be investing in blockchain technology? We all remember the crash of “blockchain” stocks a couple of years back, which was actually a crash of blockchain pretenders who used the term to build stock promotions, as opposed to building actual blockchains.
Like the dot-com crash of 2000, which bankrupted “dot-com” companies but gave birth to the likes of Google, Amazon, Linkedin because they built actual utility and value, the same can be expected of the blockchain crash and its’ resurgence.
But don’t take our word for it. The quotes above came from some of the brightest minds on the planet:
- Jack Ma (Founder of Ali Baba - Alibaba is the world's largest retailer and e-commerce company)
- Vitalik Buterin (Founder of Ethereum - 2nd largest digital currency on open source blockchain)
- Jamie Dimon (CEO Of JP Morgan and the most forward thinking banker with respect to blockchain)
Here are a couple of more headlines to really drive the point home about the future of Blockchain.
WHY BLOCKCHAIN FOUNDRY? THE “BLOCKCHAIN 2.0 COMPANY
- A leading North American blockchain development firm
- Revenue for 9 months of 2020 (ended Sept 30) ~$1.1M
- 113% Year Over Year Growth
- Positive Net Income
- Self sustaining consulting practice with growing pipeline and potential upside from product development and commercialization
- Development agreement with blockchain-based precious metal project (LODE Community) which has been consistently renewed since February 2019 at ~$60K per month
- Completed development agreement with a large Canadian financial institution valued at approximately C$400,000; subsequently conducted an architectural project with the intention of providing advisory and/or development work for potential new deliverables related to the project.
- Partnered with Binance, the largest digital asset trading platform in the world, to leverage the Syscoin platform.
- A Blockchain company with Real Products, Real Customers, Real Revenues and Real Income
- Blockchain Foundry is a “Blockchain 2.0” company that has survived and will thrive
WHAT ARE BLOCKCHAIN FOUNDRY PARTNERS SAYING?
Binance is a cryptocurrency exchange that provides a platform for trading various cryptocurrencies. Binance is the largest cryptocurrency exchange in the world in terms of trading volume.
WHAT IS BLOCKCHAIN?
- Blockchain is a distributed database existing on multiple computers at the same time. It is constantly growing as new sets of recordings, or 'blocks', are added to it
- Each block contains a timestamp and a link to the previous block, so they actually form a chain
HOW BIG IS BLOCKCHAIN?
- Worldwide spending on blockchain solutions is expected to grow from 1.5 billion in 2018 to an estimated 15.9 billion by 2023
- Companies in nearly every industry are rushing to take advantage of the perceived benefits of the blockchain phenomenon and many are seeking to adopt their own private versions of blockchain and cryptocurrency
- The financial sector accounts for over 60 percent of the market value of blockchain worldwide in 2018, but the technology has spread to nearly every industry from healthcare to agriculture
Decentralization of data
- Decentralization of data decreases many risks that the centralized systems are prone to because of the way they function.
- The ultimate control of one party brings the danger of possible cheat and pressure in many forms.
- Decentralization reduces it by sharing the blocks of data between more than one unit
- The main reason why many companies decide to switch to distributed ledger
- How does the blockchain influence operational costs? By removing the party in between your server and the data, the access is easier and faster.
- Blockchain technology increases the speed and efficiency of processing the data
- Tracing all the transaction will be easier if using the blockchain technology
- If all the data is stored on the distributed ledger, it's very easy to investigate all the history of the transaction
- Very helpful in terms of raising security measures
BLOCKCHAIN FOUNDRY IS A REAL COMPANY WITH REAL REVENUES
- 2020-H1 revenue of almost $900K
- 187% YoY increase
- Positive net income
- Experienced increased client development activity as well as growing market acceptance of blockchain technology
REAL PARTNERSHIP WITH THE WORLD’S LEADING BLOCKCHAIN AND CRYPTOCURRENCY INFRASTRCUTURE PROVIDER - BINANCE
- To release BUSD, a stablecoin issued by Binance and Paxos, on the Syscoin network
- BUSD is an ERC-20 token on the Ethereum network that is pegged 1:1 to the value of USD
- BCF will use its Syscoin Ethereum bridge technology to create a Syscoin Platform Token which will be fungible with BUSD and will allow BUSD users to take advantage of Syscoin’s fast, scalable and low-cost transactions while also preserving the ability to leverage Ethereum’s smart contract functionality.
- Collaboration will also explore the potential to bridge Syscoin, and other blockchains, to Binance Smart Chain in support of BUSD and other Binance chain tokens.
- Additionally, BCF will explore a potential Bridge as a Service product which will further enhance the existing Decentralized Finance offering with near-instant cross-chain bridging and simplified SDKs for wider adoption
OTHER DEVELOPMENT PROJECTS
Development Agreement with GDPR Compliance Solution Provider
- Entered into a blockchain development agreement with a client in the General Data Protection Regulation compliance space.
- Initial phase of the Agreement is valued at approximately $50,000 and will last for approximately four weeks.
- GDPR is a regulation in EU law concerning data protection and privacy
- The market for GDPR compliance services in Europe is estimated to be worth approximately US$1.2 billion by 2023
- Commenced on September 1, 2020 and is valued at approximately C$60,000 over the next six months
- In addition, upon successful completion of project milestones, BCF will receive NIX digital tokens with a current aggregate value of approximately C$40,000.
- If there is no change to the value of NIX digital tokens the entire contract value will be approximately C$100,000 over a six month period
- NIX is a next generation digital token and multi-layered interoperability platform which fuels decentralized applications and smart contracts.
- BCF has been engaged by NIX to incorporate certain aspects of open source technology developed by BCF into NIX’s infrastructure.
- In particular, BCF will integrate certain aspects of its Syscoin-Ethereum bridge into NIX’s platform, increasing exposure for this technology and broadening the user base and exposure for BCF’s blockchain technology products.
- Ongoing development agreement which has been continuously renewed since February 2019
- BCF has provided blockchain development services to assist in the development of the LODE System and its supporting infrastructure
BIGG Digital Assets
- Partnered to deliver Stablecoin development solutions utilizing BIGG’s comprehensive suite of tools to provide trust and real-time risk mitigation for stablecoin creation
- Incorporating these tools will offer powerful AML and CFT solutions to the stablecoin chain.
- BitRank Verified®, the scoring system that helps to assist the risk to crypto addresses and transactions, and QLUETM, which allows the ability to trace, track and monitor those stablecoin wallets and transactions, will both be embedded to allow stablecoins to be listed on global exchanges.